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Notary fees in Colombia are typically split equally between buyer and seller, with each party paying approximately 50% of the total notarial costs.
The actual notary fees range between 0.27% to 0.8% of the property's declared value, and the exact arrangement can be negotiated between parties during the purchase agreement. For a 500 million COP apartment, buyers should budget between 6-10 million COP for all closing costs including their share of notary fees.
If you want to go deeper, you can check our pack of documents related to the real estate market in Colombia, based on reliable facts and data, not opinions or rumors.
Notary fees in Colombia are conventionally split 50/50 between buyer and seller, though this arrangement can be negotiated.
These fees typically represent 0.27% to 0.8% of the property value, with additional closing costs bringing the total buyer expenses to 1.2% to 2% of the purchase price.
| Cost Type | Percentage of Property Value | Example Cost (500M COP Property) |
|---|---|---|
| Notary Fees (Buyer Share) | 0.14% - 0.4% | 700,000 - 2,000,000 COP |
| Registration Fees | 0.5% - 1.67% | 2,500,000 - 8,350,000 COP |
| Beneficence Tax | 0.6% - 1% | 3,000,000 - 5,000,000 COP |
| Document Preparation | Fixed Amount | 500,000 - 1,000,000 COP |
| Total Buyer Costs | 1.24% - 3.07% | 6,200,000 - 15,350,000 COP |
Who usually pays the notary fees when buying property in Colombia?
In Colombia, notary fees are conventionally split equally between the buyer and seller, with each party paying approximately 50% of the total notarial costs.
This 50/50 split has become the standard practice in Colombian real estate transactions, though it's important to understand that this arrangement is based on custom rather than legal requirement. The Colombian real estate market has adopted this convention to ensure fair distribution of closing costs between both parties.
However, buyers and sellers can negotiate a different arrangement during their purchase agreement discussions. Some buyers might offer to cover the entire notary fee to negotiate a lower purchase price, while sellers might agree to pay all notary costs to make their property more attractive to potential buyers.
It's something we develop in our Colombia property pack.
This flexibility allows both parties to structure the deal in a way that works best for their financial situation and negotiation strategy.
Are notary fees split between the buyer and the seller, and if so, in what percentage?
Yes, notary fees are typically split 50/50 between buyer and seller in Colombian property transactions.
This means if the total notary fee amounts to 1,000,000 COP, the buyer would pay 500,000 COP and the seller would pay 500,000 COP. This equal division has become the standard practice across Colombia's major real estate markets including Bogotá, MedellĂn, Cartagena, and Cali.
The percentage split can be adjusted through negotiation between the parties. Some common alternative arrangements include the buyer paying 60% and seller 40%, or in competitive markets, buyers might agree to pay 100% of notary fees to strengthen their offer. Real estate agents often facilitate these negotiations to reach mutually acceptable terms.
The agreed-upon split must be clearly documented in the purchase agreement to avoid confusion at closing. Both parties should understand their respective financial obligations before signing any contracts.
How much are notary fees typically as a percentage of the property value in Colombia?
Notary fees in Colombia typically range between 0.27% and 0.8% of the property's declared value on the deed.
The exact percentage varies depending on the specific notary office, the property's location, and the complexity of the transaction. In major cities like Bogotá and MedellĂn, notary fees tend to be on the higher end of this range, while smaller cities may charge closer to the minimum rate.
For example, on a 500 million COP apartment, the total notary fees would range from approximately 1,350,000 to 4,000,000 COP. If split equally between buyer and seller, each party would pay between 675,000 and 2,000,000 COP for their share of notary costs.
These fees are calculated based on the declared value in the deed, which should reflect the actual purchase price to comply with Colombian tax regulations and avoid potential legal issues.
Is there a legal rule in Colombia that defines exactly who is responsible for these fees?
No, Colombian law does not mandate a specific split for notary fees between buyer and seller.
| Legal Aspect | Requirement | Flexibility |
|---|---|---|
| Payment of Notary Fees | Must be paid for valid deed transfer | Who pays can be negotiated |
| 50/50 Split | Custom, not legal requirement | Any percentage split allowed |
| Documentation | Agreement must be in writing | Terms negotiable between parties |
| Registration Process | All fees must be settled | Payment source doesn't matter legally |
| Contract Terms | Must specify who pays what | Complete customization possible |
Do the notary fees change depending on whether the property is urban or rural?
Notary fees may vary slightly between urban and rural properties, but the main calculation remains based on the property's declared value.
Urban properties in major Colombian cities like Bogotá, MedellĂn, and Cartagena typically face standardized notary fee structures that align with the 0.27% to 0.8% range. These urban markets have more competition among notary offices, which can help keep fees competitive.
Rural properties may encounter slight variations due to different municipality practices, additional document requirements, or limited notary office availability. Some rural areas might require additional certifications or surveys that could increase overall transaction costs, though the base notary fee percentage remains similar.
The location factor primarily affects ancillary costs rather than the core notary fee calculation. Rural transactions might involve longer processing times and additional travel expenses for notary services, which could impact the total cost structure.
Buyers should confirm the exact fee structure with their chosen notary office before proceeding, regardless of property location.
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Are the fees higher when the property value is above a certain threshold?
Yes, Colombian notary fees follow a progressive structure where higher property values result in proportionally higher total fees.
Properties valued above 350 million COP often trigger additional percentage-based taxes and fees beyond the basic notary charges. These may include enhanced registration fees, higher beneficence taxes, and additional municipal levies that compound the overall closing costs.
For high-value properties exceeding 1 billion COP, buyers should expect notary fees toward the upper end of the 0.27% to 0.8% range, plus additional administrative charges. The progressive nature of these fees means that luxury properties in prime Colombian locations like Zona Rosa in Bogotá or El Poblado in MedellĂn will have significantly higher absolute costs.
It's something we develop in our Colombia property pack.
Buyers should factor these escalating costs into their budget planning, especially when considering properties in Colombia's premium real estate markets.
Do foreigners buying property in Colombia pay the same notary fees as locals?
Foreigners pay exactly the same notary fees as Colombian nationals when purchasing property.
Colombian law does not differentiate between foreign and domestic buyers regarding notary fee calculations or payment obligations. The fees are determined solely by the property value and chosen notary office, regardless of the buyer's nationality or residence status.
However, foreign buyers may incur additional costs related to document preparation, translation, and apostille services that Colombian nationals typically don't need. These supplementary expenses for passport authentication, document translation, and legal representation can add 500,000 to 2,000,000 COP to the total transaction cost.
Foreign buyers must present valid passports and may need additional documentation depending on their country of origin, but these requirements don't affect the base notary fee calculation.
The equal treatment of foreign buyers in notary fee structures reflects Colombia's welcoming approach to international real estate investment.
Are the fees different if the property is purchased with cash versus a mortgage?
Notary fees remain the same regardless of whether the property purchase is made with cash or financed through a mortgage.
The core notary fee calculation is based on the property's declared value and doesn't change based on the buyer's financing method. Whether you're paying 500 million COP in cash or financing the same amount through a Colombian bank, the notary fee percentage remains within the standard 0.27% to 0.8% range.
However, mortgage transactions do involve additional minor costs for loan document registration and processing. These supplementary fees typically add 200,000 to 500,000 COP to the total closing costs, but they're separate from the notary fees for the property deed transfer.
Cash purchases may actually result in slightly lower total closing costs since they avoid mortgage registration fees, bank processing charges, and loan document preparation expenses. This can make cash transactions more attractive from a cost perspective, though buyers should weigh this against the benefits of leveraging their investment.
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What other costs are usually paid together with notary fees at the closing table in Colombia?
Several additional costs are typically settled alongside notary fees during Colombian property closings.
- Registration fees ranging from 0.5% to 1.67% of the property value, required to officially record the deed transfer with Colombian authorities
- Beneficence tax between 0.6% and 1% of the property value, which supports local municipal programs and infrastructure
- Document certification and translation costs for foreign buyers, typically 300,000 to 800,000 COP depending on complexity
- Legal fees for contract review and title studies, usually 1,000,000 to 3,000,000 COP for standard transactions
- Real estate commission fees of 3% to 5% of the purchase price, traditionally paid by the seller but sometimes negotiated differently
These combined costs mean buyers should budget approximately 1.5% to 3% of the property value for total closing expenses beyond the purchase price itself.
Can the buyer and seller negotiate a different arrangement for paying the notary fees?
Yes, buyers and sellers can absolutely negotiate alternative arrangements for notary fee payment in their purchase agreement.
Common negotiated arrangements include the buyer paying 100% of notary fees in exchange for a reduced purchase price, or the seller covering all notary costs to make their property more competitive in the market. These negotiations often occur during the offer and counteroffer process.
The agreed arrangement must be clearly documented in the written purchase contract to be legally enforceable. Both parties should understand exactly who pays what before signing any agreements, and these terms become binding once the contract is executed.
Real estate professionals often facilitate these negotiations, helping buyers and sellers reach mutually beneficial arrangements that consider the total transaction cost rather than just the purchase price. Smart negotiation can result in overall savings for one or both parties.
It's something we develop in our Colombia property pack.
What documents are required at the notary office, and who pays for their preparation?
Multiple documents must be prepared and presented at the Colombian notary office for property transfers.
| Required Document | Who Provides | Typical Cost |
|---|---|---|
| Valid ID or Passport | Both buyer and seller | No additional cost |
| Property Tax Receipts (Current) | Seller | Already paid annually |
| Paz y Salvo de AdministraciĂłn | Seller | 50,000-200,000 COP |
| Municipal Tax Certificates | Seller | 100,000-300,000 COP |
| Certificate of No Debts | Seller | 200,000-500,000 COP |
| Previous Deed and Registration | Seller | Varies |
| Document Translation/Apostille | Foreign buyer | 400,000-1,000,000 COP |
How much should a buyer realistically budget in Colombian pesos for notary fees on a 500 million COP apartment?
For a 500 million COP apartment, buyers should budget between 6 million and 10 million COP for total closing costs including notary fees.
The buyer's share of notary fees alone would range from approximately 675,000 to 2,000,000 COP, assuming the standard 50/50 split with the seller. However, notary fees represent just one component of the total closing cost structure.
Additional mandatory costs include registration fees (2.5 to 8.35 million COP), beneficence tax (3 to 5 million COP), and document preparation expenses (500,000 to 1 million COP). These combined expenses explain why the total buyer cost reaches 6 to 10 million COP range.
Foreign buyers should budget toward the higher end of this range due to additional document authentication, translation requirements, and potential legal representation costs. Having this buffer ensures smooth transaction completion without last-minute financing surprises.
This represents approximately 1.2% to 2% of the property's purchase price, which is reasonable compared to closing costs in other international real estate markets.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Understanding notary fees is crucial for successful Colombian real estate transactions, as these costs significantly impact your total investment budget.
The flexibility to negotiate notary fee arrangements provides opportunities for strategic deal structuring that can benefit both buyers and sellers in Colombia's dynamic property markets.
Sources
- Medellin Advisors - Gastos Notariales Guide
- Invest in Colombia - Real Estate Purchase Guide
- Baker McKenzie - Colombia Real Estate Acquisition
- CMS Law - Property Transaction Costs Colombia
- PMA Abogados - Real Estate Colombia Guide
- Cartagena Realty - Buy Sell Contracts
- Nexo Legal - Colombia Property Buying Guide 2025
- Cartagena First American Realty - Closing Process