The Role of the Notary in Colombia
A Notaría (notary public office) is government-regulated and handles: verifying identities of all parties, confirming the seller’s legal right to sell, drafting and certifying the Escritura Pública (public deed), collecting applicable taxes and fees, and registering the transaction. The notary is a neutral administrator — not your advocate.
What a Real Estate Attorney Does for Foreign Buyers
Title Study (Estudio de Títulos)
Reviews the property’s complete registry history (minimum 10 years) to identify liens, mortgages, unpaid taxes, disputes, easements, or encumbrances.
Contract Review
Examines the Promesa de Compraventa (purchase agreement) covering payment schedules, penalties, delivery conditions, and your legal protections.
Currency Declaration Guidance
Advises foreign buyers on properly declaring fund transfers to the Colombian Central Bank for future repatriation rights.
Power of Attorney
Prepares authenticated documentation allowing you to complete a transaction remotely without being physically present in Colombia.
Cost Structure
Attorney fees for residential transactions in Medellín typically run $500–$1,500 USD depending on complexity. Some charge 0.5–1% of purchase price. This is minimal relative to the protection provided on a $100,000+ transaction.
Notary vs. Attorney: The Distinction
- Notario (Notary): Government-appointed. Certifies documents, collects regulated fees, maintains records. Does not advise you.
- Abogado (Attorney): Private professional representing your interests. Provides advice, conducts due diligence, reviews contracts, structures the transaction to protect you.
Both are necessary. The notary is legally mandatory; the attorney is practically essential for any foreign buyer.
StellarView Realty maintains relationships with bilingual real estate attorneys experienced with foreign buyers. Contact us for a referral.