How to Purchase Real Estate in Ecuador

08/04/2016 16:06

Ecuador is a very attractive country located in south America, the country is well known for its tourist sites and also for its real estate market, infect investing in Ecuador real estate can earn you the country’s nationality as well, moreover the properties available in Ecuador for purchase are also very attractive and worth investing.

Cuenca Real Estate

What’s the purchasing procedure?

When you are going for Ecuador real estate investment, then bear in mind that the procedure and policies related to purchasing will be very different as compared to other regions of the world such as Europe or North America etc. a good example of this little resemblance can be very well demonstrated in the case of multiple listing service, as compared to other countries of the world, in Ecuador an agent who lives in Quito won’t be able to guide you in the case of other areas such as Manta etc.

Some key features related to purchasing the property in Ecuador are

  1. The availability of escrow companies is scarce
  2. Outside the process of sales, both the agreeing parties must bear their own debts; these debts include commissions and insurance etc.

Apart from the two mentioned above there are many other things involved as well as far as Ecuador real estate purchase goes, however it is highly recommended that if as a business man you are a new investor and do not have any idea about real estate business in Ecuador, than going for a professional attorney is very necessary, not having enough knowledge about real estate business especially in case of Ecuador can be a risky thing as without an attorney you may make decisions which turn out to be fatal for you  and may result in a serious loss for you and your business as well.