Bournemouth are still looking to bring the Colombian to Dean Court.
Lerma represented Colombia at the World Cup, playing in all four of his country's games in Russia.
The 23-year-old played for Atletico Huita in Colombia before moving to Levante on a one-year loan deal in 2015.
Lerma impressed Levante, and the deal became permanent at the end of the loan.
He has gone on to play 56 times for the club in La Liga.
Bournemouth boss Eddie Howe has identified Lerma as his top transfer target, but the clock is quickly running out.