Bogota is one of the largest cities in Colombia. It has a population of more than eight million people. Housing in Bogota is decent, and the real estate business is blossoming every day. Invest have every reason to invest in Bogota because of the favorable conditions in the city. Most new property buyers in Bogota find it overwhelming because they are not well-informed about the procedures. You do not have to go through a bitter experience like other new investors. Read the procedures below and apprehend how to invest in the Bogota real estate industry.
Find a Reputable Agency
The first step is to find a reputed Bogota real estate agent to help you go through some preliminaries in the investment. There is a huge discussion on the Colombian gringo agencies. The gringo agencies are well-known in the whole of Columbia for being too sensitive in the business. They are gullible in criticizing the reality of buying properties making it hard for new buyers to make up their minds. Therefore, beware that finding a reputed and honest is not that easy. You need to ask around for recommendations and interview each every one of them. A reputed real estate agent will be ready to honestly recommend to you the best areas to buy a property. Therefore, carefully make your choice to avoid scammers and fraudsters.
After you get an agency that is a realtor, ensure that you inquire about pricing on the property. Always ask the seller or the agent for certificado de tradicción, escrituras, Arecibo de MegaObras, and impuestos prediales. After the seller’s hands you the pricing documents, consult with your lawyer for advice. The entire process of buying a genuine property in Bogota requires patience and smartness. Also, contact other sellers and buyers to know the prices of properties in the area. That way, you will be able to make a reasonable budget for your next investment.
One of the most challenging steps, after finding an agency and knowing the prices, is the sellers. Sellers are many in the whole of Colombia, but few are genuine. It is a red light when a property owner calls you using different numbers each time they want to speak to you. Beware of the fraudsters who masquerade as sellers or agents by contacting you from different phone numbers or using a pre-payed phone service. They must be certified, licensed and insured to conduct their business. A serious and genuine agent or seller must have official contacts that should be displayed on the official site and other platforms. Also, do not hesitate to ask for the seller’s personal information including the ID to make sure you are dealing with the actual owner.
Learn about Property Policies
Every state has its policies as far as real estate business is concerned. Do not settle with the salesman’s word. You should always ask for the laws regarding property ownership and construction on different lands in the city of Bogota. Make sure that you visit the nearest lands and property offices to seek guidance on building permits and other policies concerning real estate business in Bogota, Colombia.