MLS Services in Ecuador…. is free!

Multiple Listing Service in Ecuador, there are many of them for free and with great online services.

Others will tell you that they are not available mainly because they are still making a profit out of gray “pocket listings” or marking up the For Sale By Owner properties.

Ecuador has no restrictions on foreign investment in real property; you can buy real estate the very same day of your arrival using only your valid passport as identification

You can check my Personal adds on free Multi Listing Services in Ecuador:

Luxury Condos in Olon

Oceanfront Condos – Club and Marina

Pre-Venta Departamentos de Lujo en la Playa de Olon

Legal Real Estate and Development Transactions in Ecuador:

When informal business transactions were first recognized in Ecuador, the discussion focused on inefficient public institutions, cumbersome registration processes and a general distrust of the government – all factors that spur the creation of a market outside a country’s formal structures – does days are gone, Ecuador Real Estate Law enforcement is making its way into this new emerging economy.  If you put together all these new changes with a stable US Dollar economy, Ecuador becomes a great property investment location to live and retire.

Use to be that many locals and foreigners depended on informal Real Estate employment or businesses for a living, but informal employment has had serious consequences at the levels of both the individual and society. Beyond earning levels, informal employment makes OWNER, BUYER, AGENT ‘s basic legal rights vulnerable and difficult to defend.

The only real problem you may find will be the language barrier, there is a straight forward solution: translation services or bilingual proof services. Remember, there are many local Ecuadorians Professionals that speak English and Spanish fluently.

Do Not Pay Buyer’s Agent or Finder’s Fees!

Ecuador is in the process of strict regulation of its Real Estate Market and Development. For many years, Real Estate Developers, Service Providers, Agents, Locals and Foreigners Vendors, For Sale by Owner….. transactions have been mostly cash transfers due to the relaxed nature of informal transactions.

The Ecuadorian law is enforcing and updating its Real Estate Laws, this will improve the overall Real Estate Service Industry and Development. Important for you to know: Ecuadorian Law estates that the Seller pays a sales commission to the listing agent, then the listing agent splits that commission with the agent bringing the buyer to the transaction much like in the US.

How should you go for assistance?

For consumers or legal claims, any local Ecuadorian Legal Attorney or Buffet will be able to help you out, now just be aware of: ANY ATTORNEY THAT ASK YOU FOR MONEY ONLINE, there is no reason for a professional to request any money until you have verify with third parties of their professional background. Like in USA or Canada, you will find many scams online.

The following links will provide you with details on Ecuadorian Laws and the government institutions to go in case you encounter any problems while doing Real Estate business in Ecuador:

Law for Real Estate Agents of Ecuador

Consumers Protection Law of Ecuador

Government Ministry of Industry and Productivity: Consumers Protection Program

Government Office for Peoples Defense

English Post on Ecuador’s New Consumer Protection Law

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About Lina Landivar

Ecuador News & Travel, Inside scope, property listings, key ready packs, plus free services, proven honest local references, and how to avoid getting “overcharge” while in Ecuador.

Posted on January 6, 2014, in HOME and tagged , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. 1 Comment.

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