Premier League side Bournemouth
That is according to BBC Sport, who are reporting that the player will undergo a medical this weekend, having agreed personal terms with the Cherries.
The 23-year-old played in all four of Colombia's matches during the recent World Cup finals in Russia and gave a good account of himself before his nation crashed out in the round of 16 following a penalty shootout with England.
If the move does go through, he will become Bournemouth's record signing, with their biggest spend coming last summer when they purchased Dutch defender Nathan Ake for £20m from then-Premier League champions, Chelsea.
The Cherries have made two signings so far this summer, with midfielder David Brooks joining from Sheffield United and full-back Diego Rico coming in from Leganes.
A previous report from The Sun claimed the English side had a £27m bid rejected during the week and were told to return with a £30m offer. Yet, it is now being reported that a move has been agreed over for £2m less.
Lerma, 23, has been at Levante for the last three seasons, joining the Primera Division side from Colombian outfit Atletico Huila on an initial loan deal before triggering the option of a permanent stay after his 25th match.