If you are interested in investing in Ecuador real estate, now may be the right time to do it. The economy of this country is growing, and the prices of houses are a bit higher than they used to be; however, houses in Ecuador are still inexpensive, compared to those in the United States. Ecuador is a beautiful country, and buying a house there can be a good idea. The weather, low cost of living, beautiful beaches, and friendly people, are some of the reasons to consider buying a house in this country.
Buying a House in Ecuador
The process of buying a house in Ecuador can be done in nearly two weeks. In some cases, sales are closed in only two days. The process is not very complicated – not even for foreigners. It is safe for both sellers and buyers. However, you should still be cautious, especially when choosing a real estate agent. Do not hire anyone before you see his/her license. You should not do this without your attorney. Remember, all kinds of scams are possible in this business.
You should get as much information as you can about real estate agencies, prices and regulations.
• Your attorney will have to verify a clear title. He/she will have to review Certificado De Registro De Propiedad Actualizado to make sure that the property is properly registered.
• The ownership history certificate is sometimes needed, but it is rarely used. In most cases, buyers need this document if something is wrong.
• You will need property deed, and the receipt of the property tax payments from the seller.
• Certificado de Gravamenes is a document that lists debts, restrictions and similar problems related to some property. Before you finalize the contract, you need to get this document.
• Horizontal property permission is used only for new condos. This document is actually the municipal approval.
Are There Any Restrictions?
Ecuadorian natives and foreigners are treated in the same manner, when it comes to buying houses in Ecuador. The good thing is that you don’t have to be a resident to buy a house, but when you buy it, this will qualify you for residency. Some restrictions do exist, and these are related to national security areas, such as borders. This is not clearly defined by the law, but your attorney will know more about it.
To learn more about real estate in Ecuador, visit some of the following websites:
International Real Estate Listings
Viviun
Ecuador Real Estate Central
Ecuador Homes Online