Buying a Home and Acquiring an Investment Visa in Colombia

Colombia offers 3 types of resident visas that can eventually lead to a citizenship.  If you are purchasing property in Medellin you might be eligible for the Investment Visa. Investment Visa (Residente Inversionista) Colombia's investment visa is an indefinite type of visa, meaning, it will allow you to stay in Colombia or come and go as you please so long as the investment is maintained. The investment visa is a "resident visa"; therefore, you will be eligible for citizenship after 5 years of … [Read more...]

Finalizing the Sale

How can I verify real estate records and sales contracts? You can hire a lawyer to authenticate the existing real estate records and the contract between you and the seller.  Regardless, this process will end in the local notary so unlike many other parts of the world, it’s not entirely necessary and certainly not the law to hire a lawyer. The agent should ensure that the following documents are in order: a) The property’s ownership history b) The property’s tax history a) The … [Read more...]

Making an Offer on a Property

1. How do I make an offer on real estate in Colombia? The property market in Colombia is like any other.  Many sellers raise their asking price knowing that they will always receive a lower offer.  Upon receiving an offer, sellers might claim it is lower than another they’ve just received in order to pressurize the buyer into increasing the offer.  Others might state their asking price and refuse to budge. The most important thing to keep in mind is that, if you have done your homework and … [Read more...]

Transferring Money into Colombia

1. How can I open a bank account in Colombia? 2. How can I transfer money to a bank account in Colombia? 3. Should I transfer US dollars or Colombian Pesos? 4. How much does it cost to transfer money to Colombia? 5. How long does it take to transfer money to Colombia? 6. How can LUHO help with the process? 1. How can I open a bank account in Colombia? There are several ways of opening a bank account in Colombia. If you entered Colombia on a Visa then you can obtain a ‘Cedula de … [Read more...]

Preparing to Buy Real Estate in Medellin

1. Why should I buy a property in Medellin? 2. What costs do I incur when buying real estate in Colombia? 3. What costs do I incur when selling real estate in Colombia? 4. What costs do I incur as an owner of real estate in Colombia? 5. Can I get a mortgage in the US to buy real estate in Colombia? 6. How do I know which real estate agent to work with? 7. Do I need a lawyer who is familiar with real estate in Colombia? 8. How do I know if real estate in Colombia is good or bad … [Read more...]