Esteban Rada
Attorney Colombia
www. lawyerscolombia.com
email: info@lawyerscolombia.com- lawyerscolombia@gmail.com
tel +57-3117693976
Colombia for foreign investors has become a popular place, not only because the climate, people and geography but also the services found in large cities are almost the same in terms of quality to the US standard.
When foreign investors decide to look and buy a property in Colombia the normal step is to find a realtor, BUT IN COLOMBIA, REALTORS DON’T NEED A LICENSE TO OPERATE AND DON’T HAVE INSURANCE, and that situation has created that many people became realtos without the knowledge, the experience and worst no insurance or liability in case something goes wrong.
That’s why we recommend that when you decide to buy a property in Colombia is hire a lawyer to do a title study and assist you in the whole process.
The title study is not the one that realtors say that notary will do. Colombian Notaries are not legally allowed to provide legal concepts, they are just limited to provide the formality of the transaction but not liable for any content of the business.
In my experience, a good title study and background search of previous owners, could have saved years in court of litigation and fees or even worst, people never did the title study and then the US government found that a previous owner had criminal records and orders the seize of the property. The result is that the Colombian property is now on the ownership of Colombian government and new owner has to start a process in criminal courts to proof he is innocent and to re store the ownership. Those types of cases can takes years and the destruction and lack of care of property affects the value and in the future, the case will be part of the history of the property and affect its value.
Because those reasons, my law firm offers in Colombia a title search and title study to let the client be relief that there is not negative record of previous people involved in criminal records cases that may affect when you are buying property in Colombia.
If you want to contact me for further information please do to
Esteban Rada
Attorney Colombia
www. lawyerscolombia.com
email: info@lawyerscolombia.com- lawyerscolombia@gmail.com
whatsapp +573117693976
tel 57-3117693976
