The honest truth about buying real estate in Ecuador. Lots of incredible deals but be cautious! Tips

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Paradise Builders-Ideas Frescas Ecolodge

Күн бұрын

Пікірлер: 24

@LivingTheDreamEC 5 ай бұрын

I attempted to purchase the neighboring property, a small house that would have required demolition. I offered the owner $40,000, which was above its market value, to expand my lot. However, they countered with $70,000. When I inquired about the reason for the higher price, the owner mentioned wanting to allocate $10,000 each to her seven children. Consequently, I decided not to proceed with the purchase.

@Buildingenjoyment 5 ай бұрын

Oh yes! The real value of the property is almost irrelevant when a foreigner buys the property. The owner presumes you can look after the kids. It is so strange to experience their bizarre logic. They will come back just be patient.

@jeminigemi 5 ай бұрын

Great advice! I live in Ecuador, and have been thinking about buying property perhaps in a few years. But like most things, great opportunity comes with great risk! When in doubt, ask questions and move slower! Couldn't agree more! Its like dating, the more desparate you are, the weaker your hand. The more you value yourself and your time/money, the better your luck!

@friendlyfire7861 2 ай бұрын

Great advice!

@Buildingenjoyment 7 күн бұрын

Thanks, it’s not a simple process, but there are huge opportunities here!

@avatara_777 Жыл бұрын

Really important tips, super helpful thanks for your post! Question :Sending money/wire to a newly set up bank account for property purchase in Equador? ( It had been mentioned from an agent I have recently been in contact with other foreigners relocating to the area, that the gov't charges 16% on that money? can you touch on that? Thank you

@Buildingenjoyment Жыл бұрын

Be careful! When you deposit 10000 into a new bank account all the money is deposited. There is no 16 % tax. The only issue here is money laundering. They might put a hold on your money to figure out where the money is coming from! Every deposit over 10 000 gets scrutinized especially new accounts without any transaction history. But all the money gets deposited. Don’t buy from this agent. Red flags and bells are going off.

@susand8214 6 ай бұрын

Thank you. i want to buy in equadour. I told them i could not come when they wanted me to. They said the land may be sold. I said ok then when i come, i will look for other properties If it is for you then go for it. But i have limited funds, so I can't go higher

@Buildingenjoyment 6 ай бұрын

Buying land has changed in the three years I have been here. 1. Land has become the most valuable commodity here in Ecuador. 2. It has become more expensive and less people are selling. 3. People are selling their land cautiously and aren’t scared of constantly raising their prices. 4. Being a foreigner is a huge disadvantage!

@Roxcare 3 ай бұрын

18000 dólares? Que propiedad compró? Debe ser algo muy pequeño, cuántos metros? Debe ser quizá 50mts? Por favor cuéntenos, ...

@Buildingenjoyment 3 ай бұрын

Minimum 1000 metros. El acceso no es fácil . Es aquí arriba en el Capuli. Beautiful views but not so easy to get to. 400 metres from road plus a river to cross. Used as agricultural land right now. You would be allowed to build a decent size house on the lot. Planning would a small house.

@Buildingenjoyment 7 күн бұрын

3300 Metros y dos rios. Hay otro terreno aquí por 15000 más grande.

@MrTimetravler 4 ай бұрын

thank you for the very important INFO!!! i am American i wanting to buy some property in Ecuador for commercial use and personal use commercial use on the coast what's your thoughts on coastal commercial property?

@Buildingenjoyment 4 ай бұрын

Would look into the government incentives. If you bring manufacturing jobs to a province the government helps in many ways. The cost is so incredibly hot. It depends totally on the type of business you want the building for and where you’re going to sell the finished product.

@friendlyfire7861 2 ай бұрын

What dk you think about having an Ecuadorian friend negotiate the price?

@Buildingenjoyment 2 ай бұрын

The issue is during signing at the notary. If they see your face they will walk away and ask for more money. Could work if you had a Spanish last name. Generally a great idea but the execution is tough. Prices are coming down back to reality. This extranjero effect is wearing off. The extranjeros are fighting back or walking away from deals. Some foreigners are using lawyers but even that rarely works.

@friendlyfire7861 2 ай бұрын

@Buildingenjoyment Thanks!

@Buildingenjoyment 7 күн бұрын

Always better for sure !