I just want to inform on the reality of the situation, the choice is yours to put the real price you paid on the deed or just the minimum needed or the municipally appraised value.
1. Do you need this property to get an investors residency visa in Ecuador?
If so then you MUST put at least $25,000 value on the property plus $500 for each dependent. Still valid in 2016.
2. How long do you plan on keeping the property?
Putting the lower amount can help minimize notary and municipal fees now at time of purchase and your yearly property taxes (predios), but keep in mind the next buyer might not want to put the lower amount meaning you’d get nailed with a hefty capital gains tax bill! So if you plan to keep the property for the long term this may not be an issue.
3. Is there any chance this property could be expropriated by the government? Like to widen a road (I’ve seen many times in Ecuador), or build a bridge, park, etc…