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« Back to articles from category "Real Estate"

The following article was published in our article directory on July 7, 2012.
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Colombia Real Estate is Medium to Longer Term Investment Possibility

Article Category: Real Estate

Author Name: Taylor White

The Republic of Colombia is in the northwest portion of South America. It is the next largest sized after Brazil in the South American continent. Economically, it's the fourth largest sized amid Latin American countries. The Capital of Colombo is Bogota plus Spanish is the official language. More than 46% of the population dwells below poverty line in Colombia, with about seventeen percent categorized as being especially poor.

The Colombian government started a number of productive steps to allow overseas investors purchase and sell Colombia real estate sale listings in a very confident and risk-free approach. The international real estate investors take advantage of the exact same privileges as the residents. The significant factors that assist global investors within Colombia real-estate purchases are the following.

• People from other countries can buy, own, rent, record, as well as sell real estate properties without any limitations.

• They can repatriate the sale profits within their country or any place else without limitations.

• Difficult documentation procedures had been made easy for straightforward conclusions of foreign purchase of real estate in Colombia.

• The constitutional provision that authorized the government to confiscate any real estate owned by foreigners without payment was withdrawn.

• Property can be expropriated via the authorities simply for actual cultural developmental jobs or according to various other societal reasons however this process has to be performed by following the payment rules as well as adequate indemnification to the property owners.

• The money remittance and financial investment compensation conditions that have enter into force govern all overseas purchases at the moment and these circumstances wouldn't be altered or revised in a method detrimental to the investors.

The purchase of property in Colombia by international property investors should be done by using a regional attorney conversant with Colombia real-estate laws and regulations. The first document made involving the buyer and the property owner is the sales contract or purchase agreement promise. The next step involving title documenting would ensure the real estate property really is owned by the seller with no liens, mortgages, or other financial commitments exist on the property or home.

The ownership history and the actual no-lien certification may be received from the regional records office within the government. Any tax due on the property may be ascertained in the treasury office of the town or district in which the real estate property is located. When the overseas real estate property investor is confident about the credibility of the real estate in Columbia or Colombia rentals, the closing can be accomplished in the office of a Notary public. The settlement costs would be between 2% and 3% of the real estate property price. From the above, it can be apparent that Colombia real estate listings might be bought without hassle by international property investors and also mid to long-term profits are certainly feasible inside the developing Colombian economic climate.

About the Author: IREL is the leader in Colombia real estate listings, and Colombia real estate for sale.

Keywords: colombia real estate listings, colombia real estate for sale, colombia real estate

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