Buying a property in Colombia can be a bit of a crap-shoot. We have seen cases where properties were sold off quickly at low prices – or where they languished on the market for years due to a ridiculous price. Another item to note – is the total lack of an MLS listing in Colombia. This also muddles the waters tremendously on property values. Fair and Honest Property Prices in Colombia Essentially, you have the right to set your own price – within reasonable limits. One case that has always stood out to me is one particular person who has their “custom built home” on the market for over 850,000,000 COP. Even if he does get what can be considered a ridiculously high price, it will drive the taxes up in the area he lives in. Not to mention the fact that there is an “invasion,” or homes built by poor locals – on the place which have become the property of said possessors. Even so, much of the finish work, while pretty – isn’t the “first world” quality he thinks it is. It would be interesting to see what a professional assessor has to say about the actual value. … Continue reading Fair and Honest Property Prices in Colombia