Real Estate Legal Services


Ana Carolina Gaveria

Legal Advisor

Property Closing Process For Colombia

Colombiacasa always seeks to give you the best possible advice and service. We offer legal help through a third party service with Ana Carolina the lawyer we use for our property closings. Below we offer a step by step guide to the process of a property closing in Colombia.

 

Professional fees: US $590 USD

The service includes:

1. Property research: Look at the legal situation of the property in order to discard any kind of irregular issues as mortgages or liens that could obstruct the buying and selling process.

For this research, it would be necessary to check at least the following documents:

✔     Certificate of Tradition within 30 days of the property closing. (Certificado de libertad y tradición)

✔     The seller’s public deed of sale (The one through which the seller
bought at the time the property).

✔     Proof of the Last municipal taxes paid in full. (Pago de impuesto predial).

✔     Proof of the valorization payment. (If applicable) (Pago de valorización).

Estimated time: 4 – 5 business days.


2. Seller and property background check. This process is done to protect the buyer and the seller and property link with money-laundering and the financing of terrorism.

No additional documents required.

Estimated time: 4 – 5 business days.

This service has an additional fee of US. 40.00 


3. Elaboration of the purchase and sale contract: This contract gathers all the elements and important points of the negotiation, such as the price, the payments form, commissions, deadline for delivering the property and any agreement reached by the parties.

Estimated time:  5 business days.


4. Public Notary Office procedures: Collecting all the documents required by the office in order to elaborate the public deed of sale that becomes official the sale and purchase.

Estimated time:  2 – 3 weeks (depends on the internal procedures of the Public Notary Office).


5. Accompaniment in the public deed signature: Being present in the public deed signature with the client, or even sign the deed if necessary when the client is for example away from the city or any similar situation. The lawyer involved here will help translate the process for clients who do not speak Spanish.

Estimated time:  Assigned date by the Public Notary Office when deed is ready signed and witnessed by the Notary.


6. Registration of the Public Deed: The last step of the process consists in the registration of the deed in the Registration Office. Most of the time this procedure is done by the Public Notary Office, but when is necessary, the service includes this registry.

Estimated time:  15– 20 business days (depends on the internal procedures of the Registration Office).  This is just a formality and the client will receive a copy of the deed and a new certificate of liberty. (This translates to a clean title of the property purchased.)


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