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Purchasing apartments

I'm looking at possibly purchasing an apartment in Medellin in the future and would like to know if anyone has good web sites listing them for sale. I'm not exactally keen on rentals since the rates basically end up more than I pay for a mortgage in a middle class neighborhood in VA.

I'm interested in a luxury type penthouse, 3 bedroom.

What's the best way to secure financing? I have a credit score of about 740 - 760 at the moment.

By deathnova on Aug 3, 2008, 11:36 in Renting, selling & meetups.

Gringo Spy says on Aug 3, 2008, 13:35:

http://www.royalcolombia.com

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fecherklyn says on Aug 3, 2008, 14:50:

I have used the following agency several times and find them to be very good:

http://www.luish.com

You can ask them about financing. I know they are associated with certain real estate agents in the USA and are developping business there.

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dwr says on Aug 3, 2008, 15:54:

Buying property in Colombia with financing is the worst possible investment around. 22% interest rates on a strengthening peso and a housing bubble. No thanks. I don't believe you can get a USA Bank mortgage on a Colombian house.

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deathnova says on Aug 3, 2008, 16:26:

dwr,

I wouldn't be using Colombian financing, here in the U.S. you can get straight cash without justification for < 22% with the proper credit score ;)

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gringoloid says on Aug 3, 2008, 16:44:

what does 'predial anual' mean?

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Lisa Zee says on Aug 3, 2008, 16:44:

Check: www.optima.com.co I can assist you if you need to.

Feliz Navidad!

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deathnova says on Aug 3, 2008, 16:47:

I saw some good stuff on royalcolombia.com , I guess i'll have to get a realtor and visit in person.

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Gringo Spy says on Aug 3, 2008, 16:49:

loid,

"predial anual" means annual property tax.

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Gringo Spy says on Aug 3, 2008, 16:51:

death,

http://luish.com/

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gringoloid says on Aug 3, 2008, 17:26:

thanks,.......................i saw some really good stuff on these websites.

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Gringo Spy says on Aug 3, 2008, 17:50:

I have personal experience with both Luish.com and RoyalColombia.com I highly recommend them.

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jmbone says on Aug 4, 2008, 05:19:

Dear Deathnova,

In Colombia you can't put the cart in front of the horse.

The basic reason the states are in big trouble is because of cheap PAPER. In Colombia, it's all about MONEY.

Congrats on your 740-760 credit score. Take it to a bank or realty office in Colombia and it will mean NOTHING, a big zero!

As other posters have mentioned, credit in Colombia is highway robbery....even if you can get it, stay away!

But don't give up, Merida and Colombia in general, is worth working toward.

Good Luck.

Jim

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Mononoke28 says on Aug 4, 2008, 11:07:

I like this one http://www.bienes.com.co/

Diana

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