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property

whats the deal with bringing some money into the country to buy a house.... how should i go about doing this without attracting to much attention. also any foreigner out there got a mortgage with a Colombian bank.... ive been doing a little bit of research.. seems you need to put down 30% and they'll lend the rest. any info anyone.......cheers

also what kind of rates/ fees/ taxes are there to pay per year on a house worth say one or hundred thousand US

By gorgonabob on Mar 29, 2006, 09:17 in Visa & paperwork.

Tom says on Mar 29, 2006, 11:10:

not so easy to get a loan from a Colombian Bank, even you put 50% down,
believe me I been there and as long you don't have a good paid job in Colombia ( min. 6 month ) or the Gerente of the Bank is a good friend of your, forget it, even the Gerente of my Bank is a very good friend they still require an certificate from you Colombia employer, bank statements 3-6 month which shows a regular income.
any questions

ciao
Tom

hasta la vista

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ColombiaBoard says on Mar 30, 2006, 04:50:

Loans and Payments I think the best and safest way is a money transfer. Of course you´ll have to pay some taxes but that´s much safer than stuffing your butt (ok, it´s happened....) with money to go through colombian customs at the airport. Besides you get the official exchange rate which is usually higher than the exchange rate used at exchange houses or even an exchange rate used by people who would take your dollar bills as form of payment.

Re: loans and interest rates. At the moment colombian banks are offering the lowest ever property loans, 1% a month interest rate for a 15 year loan. I´m not saying it´s a bargain but it´s the lowest it´s been here.

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