Cuenca is often cited as one of the best places for expats. And one of its most appealing factors is its affordable real estate. If you are looking for property to purchase in this historic city, let Live the Life help you out.
Live The Life’s intimate understanding of the local real market is backed by the experience of ourteam of experts. Real estate transactions in Cuenca are very different from how it is done in the US. With the team’s expertise, buying real estate in Cuenca can be easy, fast, and hassle-free.
Here are some of the things you’ll want to keep in mind:
- Make local connections
Knowledge of the best properties is often spread by word of mouth. Talk to the locals and ask around for properties that they might know about. With Live The Life’s intimate local knowledge, making local connections won’t be a problem.
- Hire a local professional
By hiring local professionals such as a real estate agent, attorney (abogado), or a public notary (notariopúblico), expats will be assured of having an easier time in making deals and double-checking facts. Your attorney will also be the one to arrange for tax payments and register the property at the land registry. At Live the Life, we have our own team of experienced local attorneys that can handle this for you.
- The right paper work is essential
Remember to get the Certificado de gravámenes. This is an important piece of document to own. It ensures that the property is free of any liens.It is also prudent to ask for the seller’s Cedula (ID) to ensure that person actually owns the property being sold. Other important documents to ask for include:- the Certificado De Registro De PropiedadActualizado
- Certificado Del Historial De la Propiedad
The former is to confirm if the property is correctly registered to the local government, while the latteris a history of all transactions dealing with the property. And our expert team of local attorneys can handle this for you.
- Secure a Promesa de Compraventa
This is done unless the buyer pays the full amount upon the sale of the property. A promesa de compraventa is a promissory note which both the buyer and seller sign on. It details the payment scheme as well as the penalties for default on payments.
- Down payment is expected
This is one aspect of Ecuadorian real estate that mirrors its U.S counterpart. Sellers always expect a down payment from the buyer. And the norm is usually 10 percent of the asking price.
Cuenca, Ecuador Real Estate and Cuenca, Ecuador Homes for Sale
If you are interested in checking out Cuenca’s real estate options you can view it here, while accommodations can be viewed here.
Cuenca has plenty to offer to the intrepid and adventurous expat. To know more about this charming and historic city with a UNESCO World Heritage site, you can read more about it on our Cuenca page.
From assistance in seeking out the right property to relocation services, Live The Life is the right call to make.