Real Estate

Buying property in Colombia is often more complicated than in North America or Europe. Many of the institutions that build and facilitate trust between vendor and buyer do not exist in Colombia, leaving both parties more vulnerable to scams, government seizures, or even just simple misunderstandings that can cause transactions to fall through. Besides the language barrier and differing business practices, foreigners in Colombia often struggle with the following in relation to real estate transactions in Colombia:

No Escrow Services

No Title Search Companies

No Licensing Requirements for Rea

No Zillow, MLS or other readily information about the property market

No mortages

  • No Multiple Listing Service (MLS) equivalent

  • No licensing requirement to become a Colombian realtor

  • No easily available escrow services

  • No title search companies

  • Stringent money laundering laws which allow the government to seize property from a bona fide purchaser if there is dirty money anywhere along the chain of title

  • Unrecorded second mortgages on property

  • Vaguely worded contracts that allow one party to take advantage

  • Uncooperative banks that complicate transactions if foreigners are involved

  • Specific rules about declaring foreign capital brought into the country

At Restrepo Legal, we can help you through every step of the property transfer to ensure that none of these issues will become a problem for you. From title searches to the drafting of a promissory note, from bank transfers to the handing over of the keys, we will help you protect your investment and make sure you will be able to enjoy it for years to come. Contact us now if you want peace of mind regarding your real estate transaction in Colombia.