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How to Buy Property in Ecuador

When you decide you want to buy a place, do all necessary inspections and legwork with a local attorney.

After making sure the place has a clear title by reviewing the “Certificado de la Propiedad” and the “Historia del Dominio” and reach agreement on the sales price, you sign a “Promesa de Compra Venta.”

That acts like the sales contract in the US.

This document specifies the exact sales price and when the rest of the purchase and payment will be executed. Upon signing the agreement, 10% of the purchase price is usually paid. It is harder to get out of this contract than a sales contract in the US, so beware before signing.

To finalize the sale you need to sign a “Compra Venta” contract that your attorney files with the governmental office called •” El Registro de Propiedad,” making you the rightful owner. This document then serves as the official title of the property or in Spanish called the “Escritura”.

For more detailed information check out the guide here.