Tuesday, April 20, 2021

Colombia Real Estate Commission Rates

The maximum fees by law for any Colombian Real Estate Agent is:

• 3% for housing ( apartments, houses, urban lots, lofts) derived from sale price in the final deed.

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•  5% for commercial property ( Warehouses, commercial stores, farms, plots of land, rural land) derived from sale price in the final deed.

You will notice these fees are roughly half of similar real estate commissions in the United States, Canada or Europe.

Who pays?

Following Colombian Business law, unless agreed otherwise, these agent´s commission fees should be paid by the Seller/Property Owner.

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As a buyer, you won´t assume any additional agent fees, as the value of the commission is included in the final sales price as per the deed. If you are a buyer, check out the services we offer you during the buying process.

Source: colombiarealestateonline.com

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FACT CHECK:
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Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

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