Our Services
CuencaRealEstate offers a variety of services for real estate buyers seeking a primary home, second home or investment property in Ecuador.
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.
CuencaRealEstate works primarily as a buyers agent. Because there is no multiple listing service in Ecuador and because co
operation 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.
Our standard commission, charged to the buyer, is 5% in Cuenca, and 6% for properties 20 miles or more from the city. Although real estate agents in the local market generally take a 3% to 4% commission from the seller, we believe that, more often than not, the buyer will save money using our services and paying our commission. Most local agents tend to be "soft" negotiators and we often make up the difference of our commission --and then some-- through strong advocacy for our clients.
We charge an hourly "tour" fee of $15 (or $75 for a 6-hour day tour) to show properties, which is deducted from our commission if a client makes a purchase. A complete explanation of how we work is available upon request and will be provided clients visiting us in Cuenca.
For those with Ecuadorian family or friends, or, for those who speak fluent Spanish, we suggest that you also visit local realtors, since CuencaRealEstate's services are designed primarily for foreigners with no connections in Ecuador. We strongly advise those using local realtors to have an independent attorney conduct a title search and review details of the closing. Many local realtors advise buyers to skip this process to save money. We suggest that you do this at your own peril. Title insurance is available, but only through a handful of Ecuadorian attorneys as of late 2008. 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 CuencaHost service to assist clients establish a household in Cuenca. The 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.
CuencaRealEstate rents a limited number of furnished apartments to visitors who attend local language schools and universities, or who want to get to know Cuenca better through an extended stay. If you are interested in a rental, please drop us an email and we will let you know about the availability of short- and long-term rentals.
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.