CuencaRealEstate offers a variety of services for real estate buyers seeking a primary home, second home or investment property in Ecuador. We also manage rentals through our affiliate, Rentals Cuenca (RentalsCuenca@gmail.com).
Our primary job is finding, negotiating and closing a favorable real estate deal for our clients. If a client decides he or she is interested in real estate in another part of Ecuador we will make every effort to refer the client to a competent English-speaking real estate professional in that part of the country. We represent our clients throughout the property search and closing process. If the buyer is not fluent in Spanish, we provide a full explanation of proceedings in English, both written and verbal. We will recommend English-speaking attorneys, architects, and engineers to provide guidance throughout the property search, and to assist with title research and closing. It is a legal requirement in Ecuador that all parties to a sale understand the process even if they do not speak Spanish.
Because there is no multiple listing service in Ecuador and because cooperation among realtors is often poor, we identify properties we think will meet the expectations of foreign buyers. We do this primarily by "word of mouth," working with local contacts and by finding "for sale by owner" opportunities. The vast majority of properties for sale in Ecuador do not have "for sale" signs. We do not list properties we consider over-priced, or, if we see legal problems with issues related to transfer of title.
COMMISSION: We take a 3% commission from the seller and do not charge the buyer. We also offer after-sale services to clients who are not in the country during the construction or renovation process. Arrangement can made for these services at the time of the sale. For sales more than 20 miles from Cuenca, we charge an additional 2% commission to the buyer. We can also provide relocation services (see below).
TOUR FEE: We charge an hourly tour fee of $15 for real estate tours of less than six hours per day and $12.50 per hour of tours of six hours or more. The fee is deducted from our commission if the client makes a purchase.
For those with Ecuadorian family or friends, or, for those who speak fluent Spanish, we suggest that you also visit local realtors, since Cuenca Rea lEstate's services are designed primarily for foreigners with no connections in Ecuador. We strongly advise, however, that those using local realtors also hire an independent attorney to conduct a title search and review details of the closing. Many local realtors advise buyers to skip this process to save money. We believe that you do this at your own peril.
It is important to know that in addition to the title search performed by your attorney, another search will be conducted by the Land Registry office before a deed is registered.
As a general rule, local realtors do not offer real estate tour services as is common in North America. While some agents will drive you to one or two properties, most will provide a property address and ask the client to meet them at the property.
CuencaRealEstate also offers its Cuenca Home Services to assist clients establish households in Cuenca. The service is provided on an hourly rate basis, with the charge dependent on the type of assistance rendered. First, we help you with the necessities of setting up a household, such as purchasing furniture and other household goods; establishing utility services; establishing relationships with banks, health care providers, schools, architects, builders and household workers. We will troubleshoot problems involving local, provincial and federal government offices.
We offer translation services based on an hourly rate.
CuencaRealEstate rents a limited number of furnished apartments through our partner, RentalsCuenca. Most of houses and apartments are rented on a short-term basis with a minimum stay of two weeks. Most properties are turn-key situations and come fully furnished, with utilities provided, often including internet and CATV service. If you are interested in a rental, please check our "Properties for Rent" link on our homepage, or contact us at RentalsCuenca@gmail.com.
We also offer property leasing and management services. Short-term furnished rentals are in short supply in Cuenca while demand is great, making rentals a solid investment.
As we said above, we are happy to recommend architects, contractors and carpenters if you are undertaking a building or renovation project. We are not sub-contractors ourselves, however, and cannot oversee major construction projects.