Buying a property in Ecuador
Foreigners’ rights
The Ecuadorian government has recognized the value of foreign investment and tourism. Foreign property owners/investors enjoy the same rights and obligations as Ecuadorian citizens. They may hold Ecuadorian land titles and own outright the land and/or properties purchased from abroad.
The service offered by HolaEcuador
Our legal council in Manta, Manabí, Ecuador, handles all the formalities of the international transaction. This includes verifications, fund transfers, legalization of all documentation and registration of your land titles with the Property Registrar Office of the City where your property is located. You may also work with a lawyer of your own choosing.
FIRST STEPS
2 – Appointment request.
3 – Choice of the condo / house / land lot.
4 – Purchase offer.
From project to completion
Buying a land lot
5 – A deposit is required.
6 – Verification of the electronic version of the title by HolaEcuador as well as the owner.
7 – If everything is in order, the next step is the balance due.
8 – The notarized title papers will be sent by registered mail.
Buying a home
5 – A deposit is required.
6 – Design choices with the help of our designers and representatives.
7 – Payments are required as the construction progresses. Photo updates are sent every week.
8 – The last 10% is due upon the completion of the construction.
Currency of the transaction
The transactions are made in US dollars. Payments with another currency will be converted to USD at the current exchange rate on the day of the transaction, plus applicable fees.
Length of the process
The time required to conclude the purchase transaction, including recording your land titles, is about three to four months in total.
Good timing
Over the next several years, it is anticipated that Ecuador, and in particular the Pacific coast region around the port city of Manta, will be developing rapidly as commercial and residential expansion booms in a pattern that has been seen in regions such as Costa Rica, Panama and the Dominican Republic. This means it’s a perfect timing to buy.
