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4 STEPS IN BUYING REAL ESTATE

Step 1: Inspect and approve of the property with your own eyes.

Step 2: Agree upon the price. Prices for new apartments under construction are firm. When the price has been agreed upon, and Paul has studied the Title one of two possibilities exist:

Step 3A: If there are no liens against the Title, the sale (Closing) can proceed. The Buyer must be ready to pay the Seller in full. The Closing will take place at the Notary office. Both Seller(s) and Buyer(s) sign, and are finger printed. Buyer(s) pay with a Cashiers Check drawn on a Colombia bank.
Foreign buyers: Non Colombian residents who are not able to open a bank account in Colombia, must execute a direct bank-to-bank wire transfer into the seller’s Colombian account along with the legal binding enforceable contract. Or you may use Paul Juan’s or a relative’s Colombian bank account to transfer the funds internationally. The wire transfer must be done prior to final closing, and the seller must have confirmation that the funds have been received, only then seller and buyer can meet at the notary to sign off the title.

Step 3B: If there are liens against the Title, Paul will prepare a Buy/Sell Contract for the Seller to sign, and present the Buyer(s) Cashiers Check for the Down payment (20%-30% of the Selling Price). Seller is now committed to selling the property, and cleaning up the liens before Final Settlement. Final Settlement can take place between 30 to 60 days as agreed upon by Buyer(s) and Seller(s). At the Closing, Buyer(s) pays balance of the sales price with a Cashiers Check drawn on a Colombia bank. Both Seller(s) and Buyer(s) sign the Title, and are finger printed.

Step 4: After the Closing the notarized papers will be released from the Notary the following business day. Paul will accompany the buyer to 3 different offices to pay and receive receipts for various required Fees which complete Recording of the Title. Title will be recorded in the name(s) of the Buyer(s). Buyer(s) will receive a Certified Copy of the Title within 10 business days.

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E-Mail: paul@cartagenarealty.com. Phone Call Reception: Mon Thru Friday 9:30am - 1:00pm and 2:00pm - 6:00pm. Saturday 9:30am - 1:00 pm.
Office: Bocagrande, Cra. 1 Calle 13 Edificio Cartagena de Indias - Local 1. Tel.: (57 5) 665 0515. Celular: (57) 311 660 2756. Cartagena de Indias, Colombia.

© Paul Juan Realty, and/or its clients. All rights reserved. All information deemed reliable but not guaranteed.