Closing a sale remotely: reservation, paperwork and signatures without the buyer traveling
With a 3D tour and a good video call, a buyer who lives in Madrid or Bogotá can decide they want the apartment without ever setting foot in the sales room. And that is often where the sale stalls. The rep asks them to come in and sign, sends a PDF to print, scan and return, or cannot explain how to pay the reservation from abroad. The enthusiasm from the call cools over weeks of emails.
This article walks through what happens after the yes, step by step, and what can be done without the buyer traveling. It is not legal advice: every developer and every trust company has its own process, and it is worth reviewing it with your legal team. But the order and the questions are the same.
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The closing map
An off-plan home purchase in Colombia generally has these steps. The names vary between developers, but the order is similar:
| Step | What it is | Can it be done remotely? |
|---|---|---|
| Reservation | The payment that holds the unit | Yes, by transfer or online payment |
| Joining the trust account | The buyer joins the project's trust arrangement (encargo fiduciario) | Yes, with digital documents and electronic signature, if the trust company allows it |
| Promise of sale | The contract with the price, payment plan and delivery date | Yes, with electronic signature or with the physical document sent by courier |
| Down payment | The payments during construction | Yes |
| Mortgage or leasing | Financing the balance | Largely; some banks require in-person steps |
| Deed | The transfer before a notary | Through an attorney-in-fact, if the buyer cannot come |
The reservation and the trust account
In off-plan sales, the buyer's money usually does not go into the developer's account but into a trust arrangement, at an entity supervised by Colombia's Financial Superintendency, which releases it to the developer only when the project meets the agreed conditions, such as the break-even point. For a buyer who is far away, that explanation is gold: it removes much of the fear of sending money to a project they have not seen built.
Explain it on the video call, with the name of the trust company and the details of the arrangement. And be clear about how to pay from abroad: to which account, in which currency, what reference to use and what receipt the buyer has to send.
Signing without printing
In Colombia, Law 527 of 1999 and Decree 2364 of 2012 recognize electronic signatures: they have the same validity and effects as a handwritten signature if the method is reliable and appropriate for the purpose, and the parties can agree on which one to use. In practice, many trust companies and developers already sign the account opening, the reservation letter and, in some cases, the promise of sale this way.
Ask your trust company which documents it accepts with electronic signature and on which platform. If any of them requires a wet signature, plan the courier shipment from the start, not when the buyer is already waiting.
If the buyer lives outside the country
A non-resident of Colombia buys a home as a foreign investor. Decree 119 of 2017 includes the acquisition of real estate as foreign direct investment: the money must come in through the foreign exchange market, via a bank or another authorized intermediary, and the investment is registered with Banco de la República. The exchange regime looks at residence, not nationality, so a Colombian who lives abroad may be in the same situation.
It is a process for the buyer and their bank, not for the developer, but if your team does not know it, the reservation sits waiting. Ask the buyer to talk to their bank before transferring, and keep a simple written explanation of the process ready to send them. What is routine for your team may be a first for them.
The deed, through an attorney-in-fact
The public deed is signed before a notary. If the buyer cannot come on the date, the usual route is to grant a special power of attorney to a trusted person or a lawyer in Colombia. From abroad, that power is processed at a Colombian consulate, with recognition of signature and content, or before a notary in the country where they live, with an apostille. When the power concerns a property, it must identify it precisely: address, real estate registration number and cadastral number.
Since the deed comes months or years after the reservation, flag the power of attorney early. A last-minute power delays the handover of an apartment the buyer has already paid for.
What your team needs to have ready
- A one-page document with the closing steps, in the order they happen.
- Payment details for buyers in Colombia and abroad, with the reference they should use.
- The list of documents the trust company requires and in what format.
- The electronic signature platform the trust company accepts.
- A template power of attorney reviewed by your lawyer.
- One person responsible for guiding the buyer through each step.
The 3D model helps at closing too
When a buyer signs remotely, the tour and the renders of what they chose serve as a reference for what will be delivered: the unit type, the floor, the finishes. Attach images of their unit with the chosen finishes to the promise of sale, or at least to the confirmation email. Grupo Koi describes this as transparency that protects both sides in its experience selling 100% virtually.
And the follow-through does not end with the signature. During the construction months, showing progress next to the model keeps the trust of someone who bought without visiting.
At Inviewd we build the virtual sales room that takes the buyer to the yes; the closing process is defined by your team with your trust company. If your buyers live outside the country, see also selling homes to Colombians abroad and how to present the project over video call.
Frequently asked questions
Can you buy an off-plan home in Colombia without traveling there?
Yes. The reservation, joining the trust account, the promise of sale and the payments can be done remotely in most cases. The deed is signed before a notary, and if the buyer cannot come, an attorney-in-fact signs it with a special power of attorney processed at a consulate or apostilled.
Is an electronic signature valid for home purchase documents in Colombia?
Law 527 of 1999 and Decree 2364 of 2012 give electronic signatures the same validity as handwritten ones if the method is reliable and appropriate. Which documents can be signed this way depends on the trust company and the developer; the public deed is signed before a notary.
What does a buyer living abroad need to do to pay?
If they do not reside in Colombia, the purchase is treated as foreign investment: the money must come in through the foreign exchange market, via a bank or authorized intermediary, and the investment is registered with Banco de la República. They should talk to their bank before transferring.
Where does the reservation money go?
In off-plan sales it is usually paid into a trust arrangement at an entity supervised by the Financial Superintendency, which releases it to the developer when the project meets the agreed conditions, such as the break-even point.
Sources
Función Pública — Law 527 of 1999 (in Spanish) · Función Pública — Decree 2364 of 2012, electronic signatures (in Spanish) · Función Pública — Decree 119 of 2017, foreign investment (in Spanish) · Auren — Registration and channeling of property purchases by non-residents (in Spanish) · Consulate of Colombia in London — Certificates and powers of attorney (in Spanish) · El Tiempo — Off-plan home sales and trust accounts (in Spanish)
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