Purchasing a home in Colombia, especially if you’re a first-time buyer, comes with many challenges. You need to pay attention to many different things at once and face a lot of new experiences. This can feel overwhelming. However, that’s precisely why hiring a real estate agent is essential. They know what to do and can advise you on anything you’re wondering about. Here are the top 10 questions you should ask your RE agent before buying a home in Colombia.
1. Could you share your previous experience with me?
Before you even decide upon a real estate company and agent, you need to vet them. One of the best ways to do this is to allow them the chance to tell you about their previous work. In addition, ask them about anything that they may regret and wish they had done differently or what they think they might lack in their skillset. From the way they answer these questions, you’ll figure out whether they’re fit to help you buy a home in Colombia. Seeing how licensing in Colombia is a bit different than in the US, you need to be extra careful when choosing.
2. Ask them about the market in your neighborhood
Before you start looking at the house you like, you should research the neighborhood. Firstly, ask questions of higher priority that will tell you more about the neighborhood’s safety and residents. After that, get to know the market that you’re purchasing the home in. Ask about the median prices and compare the place to other homes in the area. If you’re a foreign buyer, make sure to do your research. For example, most homeowners in Colombia are local residents, which means that moving could come with some culture shock.
3. How should I plan ahead?
It’s only natural to feel a bit lost at first when buying a home in Colombia. You’ll have a lot of questions about planning the whole thing. Once you’ve hired a RE agent, sit down with them and have them explain all the specifics. It’s best to write everything down in the form of a list that you’ll follow later. Having a set timetable will motivate you to be more productive.
Another thing that’s distinctive for Colombia is that most properties aren’t exclusive listings. This means that there can be more than one real estate agent trying to sell a property, which makes planning all the more important.
4. What’s the best way to organize my finances?
If this will be your first time living in Colombia, there’s probably a lot you don’t know. Organizing your finances and setting a strict budget is really important. If you’re not experienced with this, your real estate agent can help you. However, their knowledge extends only so far. Make sure to contact a financial advisor if you have any additional questions. Keep in mind that Multiple Listing Service (MLS) isn’t an option in Colombia. Although this could make your research on market prices a bit more complicated, it doesn’t have to. Your real estate agent surely knows of a few tricks that’ll be a great substitute.
5. How much are the utilities and property taxes?
For everything to go smoothly and without financial struggles, you should look into what life after buying a home in Colombia will entail. Ask your agent about utility expenses and property taxes before you get too attached to a place.
6. What would you do in my situation?
A great question to ask a real estate agent is what path they’d take if they were in your shoes. This will encourage them to give you the best deals, and this type of conversation usually creates a stronger bond between people. Make sure to tell them that you’re looking for an honest answer without holding back. For example, you could ask them how they’d handle problematic sellers when they’re giving you a hard time. Chances are, they’ll not only give you great advice, but they’ll also see what they can do about it themselves.
7. Ask them for recommendations for movers
Of course, once you’ve bought a home in Colombia, you’ll need to move into it. And if you’ve got an international move ahead of you, you’ll need to hire a good moving company to ensure a worry-free process. This is something your RE agent will probably be able to help with. Good agents usually have many connections throughout their field, and they’ll help you hire the best people.
8. How long has the house been on the market?
An excellent question you should ask when purchasing a home in Colombia is how long the house has been on the market. This will help you learn about the quality of the home you wish to buy. Of course, it’s no guarantee, and there are a lot of factors that determine whether a house will sell or not. For example, not every house can be in the best spot in Columbia, and that’s okay. However, a lot more than just a great location can influence whether a home will sell sooner or later. You’ll at least get a bit more insight into the home’s history and the sellers you’ll be dealing with. Additionally, be aware that the prices of properties are dropping in Colombia, which might make now the perfect time to invest before they rise back up.
9. Can you help me with the paperwork?
From the time you decide to buy a home in Colombia and the time the purchase will take place, you’ll have to sign more than your fair share of paperwork. Many of these documents are complex and will need your full undivided attention. It’s expected that you lack experience in this regard and that you need help. Seeing how RE agents go through this very process with every single one of their clients, they know it by heart. You can even organize a separate meeting where they’ll walk you through the paperwork step by step. Come prepared and be as specific as possible with the information you’re looking for. Since not all property websites in Colombia are updated regularly, having an agent by your side to fill in any pieces of data is crucial.
10. Do you have any additional tips?
If you’ve managed to ask your RE agent all that you wanted to, that’s great. However, if you have some time to spare or if you’re curious about additional info on buying a home in Colombia, the fun doesn’t have to stop there. You can always ask for a piece of advice that they might find helpful.