Commissions and Closing Costs

Costs Involved in Buying Property in Ecuador

All listed prices on our website include all commissions. In Ecuador, commissions are generally always paid for by the seller. What the amount is, varies depending upon the situation. When we enter into a listing agreement, we provide a whole series of services that are not generally provided in other countries. We sometimes invest in upgrading the property to make it more salable, for example. In some circumstances, we may even lend the owner money. Commission transparency between agents and sellers is a legally enforceable requirement in Ecuador.

Additionally, we make contractual obligations to sellers. These include marketing commitments, showing procedures, agreements to keep speculators away and many others. This is why we don’t ‘share’ listings with other vendors. It would violate our contractual agreements with owners and reduce their chance of selling as we cannot control what other vendors may say, do, or not do. When we entered the market, no one shared listings with us!

Conversely, ALL expenses involved in purchasing a property are borne by buyers. These closing costs include the cost of a survey (if necessary); notary, legal, municipal, and other fees. Taxes, property registry and other assorted expenses must also be paid. In a typical case of a $30,000 property, closing costs will generally run approx. $800 to $1,250 depending upon the particular circumstances of the property.