Purchase promise agreement in Colombia: what to include before signing
The promesa de compraventa binds you to buy and the seller to sell. Legal requirements, key clauses, how deposits (arras) work and what to review before you sign.
Equipo Rooted House 5 min read
Between agreeing on a deal with the seller and signing the deed, a single document protects (or exposes) you: the purchase promise agreement (promesa de compraventa). This guide explains what it is, the legal requirements, what it should include, how deposits (arras) work and which clauses to review before signing.
What is a promesa de compraventa?
It is a contract in which buyer and seller commit to complete the sale in the future, that is, to sign the public deed (escritura pública). It works as a guarantee: it sets the price, payment terms and conditions, and establishes consequences for whoever fails to comply.
It is not the deed. The promise only creates the obligation to buy and sell; ownership changes when the deed is signed and registered. Among the steps to buy a home in Colombia, the promise comes after you have reviewed the property and before the deed.
Is it mandatory?
According to a Bogotá notary office, it is not mandatory. But once you sign it meeting the legal requirements, it creates obligations for both parties. In practice almost every purchase uses one, because it gives security while documents are gathered, the loan is processed and the notary appointment is scheduled.
Legal requirements
Article 89 of Law 153 of 1887 sets four conditions for a promise to create obligations:
- It must be in writing.
- The promised contract must not be one the law declares ineffective.
- It must set a deadline or condition for when the contract will be made (for example, the deed date).
- The contract must be described well enough that only the transfer of the asset or legal formalities remain.
The same notary office says that to bring legal action for financial penalties against a party who breaches, the promise must be written, signed and notarized (signature authentication). So the prudent move is to notarize the signatures.
What a promesa de compraventa should include
Party details
Full names, ID numbers (cédula), address and marital status of buyer and seller, who must also have legal capacity to contract.
Property description
Boundaries, address, cadastral number, registry number (matrícula inmobiliaria) and a general description (bedrooms, bathrooms, parking, storage). If it is in a condominium regime (propiedad horizontal), say so. These details must match the certificate of tradition and freedom.
Price and payment terms
The total value, how much is paid at signing (deposit or advance), how much comes from a loan, how much at the deed and on what dates. If you depend on a mortgage, state it expressly.
Date, time and notary office of the deed
The deadline to sign and the notary office where it will happen, plus the property handover date.
Clean title warranty
A clause in which the seller declares the property is free of attachments, mortgages or other limitations, and commits to cancel any before the deed.
Cost sharing
Who pays what: notary and registry fees, taxes, and outstanding building or utility debts. Learn about closing and registration costs before negotiating this point.
Penalties for breach
What happens if either party does not sign the deed on the agreed date. This is the most important part of the promise and is explained next.
Deposits (arras) and penalty clauses: how they work
It is common for the buyer to hand the seller a sum as arras or advance. But arras can have different effects depending on how they are drafted. Supreme Court case law, as summarized by the notary office, distinguishes three types:
- Simply confirmatory: they prove the deal will happen and are credited to the price. If someone breaches, the compliant party can demand performance or ask for damages.
- Confirmatory with penalty: they work as an advance settlement of damages, similar to a penalty clause.
- Withdrawal (or desistimiento): either party may back out by paying compensation: whoever gave them loses them; whoever received them returns them doubled.
The delicate point: under the Civil Code (article 1859), if you do not say which type they are, the law presumes they are withdrawal arras. And if no deadline to withdraw is agreed, the right is understood to expire two months after the agreement, and never after the deed is signed or delivery begins.
A penalty clause (cláusula penal) is a different tool: compensation fixed in advance for breach. A Bloomberg Línea article dated October 14, 2026 notes that what a buyer who backs out risks is the agreed penalty, not necessarily everything paid, and that a judge may reduce it if excessive. Without a clause, nobody can deduct a penalty that was never agreed. That is why the promise must state clearly what type of arras they are, how much is lost and who may withdraw.
When to do the title study
The ideal moment is after signing the promise and before the deed. To protect yourself, include a clause letting you withdraw without losing your money, or requiring the seller to fix the findings, if the title study reveals problems. The same applies if the purchase depends on a loan: write the bank's refusal as a condition of the deal.
Common mistakes
- Signing without seeing a recent certificate of tradition and freedom.
- Not setting the deed date and notary office.
- Handing over money without a written record of what it is and what happens if the deal falls through.
- Leaving the arras type undefined.
- Not making the loan a condition of the deal.
- Signing generic templates without adapting them to your case.
Frequently asked questions
How much money is handed over with the promise?
There is no fixed amount by law: it is negotiated between the parties. What matters is that the amount is in writing, with its nature (arras or payment toward the price) and the consequences of breach.
Must the promise be notarized?
The notary office we consulted says that to bring legal action for financial penalties it must be signed and notarized. It is the recommended route.
Can I change my mind after signing?
It depends on what was agreed. If the arras are withdrawal arras, you can back out by losing them within the agreed period (or two months if none was set). Otherwise you may face the penalty clause or a lawsuit for breach.
Does the promise make me the owner?
No. You become the owner only when the public deed is signed and registered at the public instruments office.
Note: this information is for guidance only and does not replace a lawyer's advice. Have a professional review your specific case before signing.
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