FREQUENTLY ASKED QUESTIONS
At Espacios Urbanos we specialize in developing innovative real estate concepts, a service in which we offer substantial competitive advantages
LEGAL
WHAT IS A PRE-CONTRACT?
A pre-contract also known as promise on a contract or a preparatory contract, is specified in article 89 of law 153 of 1887. It is a solemn contract, which it is not legally binding. It is transitory in nature and establishes the obligation of the parties to subscribe a final contract. It is often used for the purchased of real estate properties. Requirements: It must be in writing, and it must pay stamp tax (except in purchase-sale contracts). The grantees may freely select the public notary who will authorize the registration of the private document.
COMMERCIAL
WHAT IS THE DIFFERENCE BETWEEN PRIVATE AREA AND CONSTRUCTED AREA?
A property´s constructed area includes the areas used by the outer walls and half of the walls that border on a neighboring property. Private area is the usable space available inside the property, excluding columns and walls.