From now on, buying a home in Colombia will be easier thanks to the passing of a law approved by the Congress of the Republic called “housing available to everyone.”
The norm,which came into effect on November 8allows the costs of deeding and registering properties that are acquired by citizens to be included in mortgage and leasing loans. delivered by financial institutions.
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Senator Julio Elías Vidal, author of the law, explained that Many economic barriers that exist today to access the purchase of a home are eliminated.
“Deed, taxes and registration expenses may be included in the mortgage loan, eliminating economic barriers that made it difficult to purchase a home. “This measure especially benefits those who can assume monthly payments, but do not have sufficient resources to cover the high initial costs,” he explained.
The new law also has a component of modernization of the real estate sector, because allows the implementation of “digital appraisals and advanced technologies to value properties. This speeds up the procedures, making them more precise, economical and accessible to everyone.”
The same way, A more efficient system is established for the development of notarial procedures, with the aim of streamlining processes.
“To ensure a faster and more transparent process, “Notaries must meet specific deadlines in all stages of the process, from the initial contact to the delivery of documents,” he explained.
“This law is a fundamental step so that more Colombians can access decent housing. We have worked to break down the economic and bureaucratic barriers that prevented thousands of families from achieving this dream. The ‘Housing within Everyone’s Reach law’ not only facilitates access to one’s own home, but also promotes the sustainability and modernization of the sector. It is a change thought about the real needs of citizens,” concluded the author of the initiative.
He said that Having your own home is the basis for the stability and well-being of Colombian familieswho fight every day to get ahead.
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