Frequently Asked Questions
Everything you need to know about buying and selling property with seller financing
What is seller financing?
Seller financing allows you to purchase property directly from the seller without a traditional bank loan. The seller acts as the lender, and you make monthly payments directly to them. This makes it easier for international buyers who may not qualify for local bank financing.
Do I need a Colombian bank account?
No. That's the beauty of seller financing - you can complete the entire transaction without needing a local bank account or loan approval. Payments are made directly to the seller through secure international payment channels.
What countries can I buy property in?
We currently focus on Colombia, with properties primarily in Medellín, Cartagena, and other major cities. We're expanding to other LATAM and Central American markets soon.
How much down payment do I need?
Typical down payments range from 20% to 40%, depending on the property and seller terms. This is often more flexible than traditional bank financing, where you might need 30-50% down as a foreign buyer.
What are the typical cost of finance rates?
Cost of finance rates typically range from 8% to 15% annually, depending on the property, down payment, and term length. Rates are negotiable directly with sellers.
How long does the process take?
Since there's no bank approval process, transactions can close in as little as 30-45 days once you've found a property and agreed on terms with the seller. This is significantly faster than traditional financing.
Are properties verified?
Yes. All properties are vetted by our team before being listed. We verify ownership documents, check for liens, and ensure the property is eligible for seller financing.
Do I need to visit Colombia to buy?
While we recommend viewing properties in person, it's not strictly required. We can arrange virtual tours and video walkthroughs. However, you will need to be present (or have a legal representative) for the final closing and title transfer.
What is the KYC process?
Both buyers and sellers go through Know Your Customer (KYC) verification to ensure secure transactions. This typically involves identity verification, proof of address, and financial documentation.
Can I rent out my property?
Yes, many buyers purchase properties as investment rentals or vacation homes. However, some sellers may have restrictions on rental use during the financing term, so be sure to discuss this upfront.
What if I want to pay off early?
Many seller financing agreements allow for early payoff without penalties, but terms vary by seller. This should be negotiated and clearly stated in your purchase agreement.
How do I list my property?
If you own property in Colombia and want to offer seller financing, simply fill out our seller lead form. Our team will guide you through the listing process, help you set competitive terms, and connect you with qualified buyers.
What does it cost to make an offer on a property?
Submitting an offer is free. If your offer is accepted, you'll complete a one-time $99 credit screening to finalize it — refundable if the screening can't be completed. Your down payment and balloon are paid directly to the seller off-platform, and your monthly installments are processed securely through Globull's payment rail.
Still have questions?