Low Balling Offers Like a Local

This past week I began my property hunt here in Ecuador… with a $30k budget.

I did quickly notice prices have risen a bit since I last looked in 2009, but desirable properties under $50k can still be found. In fact, it only took me a couple days to find some very interesting buys (more on that in next weeks newsletter).

But this week, while property hunting with a friend of mine who has a much larger budget than me, I witnessed something astonishing.

We found a small hotel for sale on the coast. We sat down with the owner, a young Ecuadorian girl married to a Foreigner. During our conversation she mentioned the asking price was $500,000.

A few days later my friend (as I was sitting by his side) emailed his offer to her, $135,000. And to my surprise, the owner received the offer very warmly, responded quickly and was very close to accepting, I believe my friend will up a bit to $150 or $175k and it just may do the trick.

Which serves for a very important lesson this week! In Ecuador, asking prices are HIGHLY negotiable, and its not uncommon people offer from 25% of what is being asked. This kind of stuff never ceases to amaze me but this is how it really is down here in Latin America. Gotta love it!

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Local in Manta Gets 20 Years for Killing a Foreigner

A Local of Manta got sentenced to 20 Years in prison for killing a foreigner on November 3, 2009 as reported this week by the Universo.

I’ve personally felt nothing but warmly welcome in my time here in Ecuador but it is important not to get mixed up in the wrong crowd, wherever in the world you are.

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Cotacachi Property Management Companies

For a complete list of Cotacachi Property Management Companies please see our directory of real estate professionals here.

To suggest any new Cotacachi Realty Management Companies to be included in the directory please use our contact form and we’ll respond within one business day, thank you.

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Vilcabamba Property Management Companies

For a complete list of Vilcabamba Property Management Companies please see our directory of real estate professionals here.

To suggest any new Vilcabamba Property Management Companies to be included in the directory please use our contact form and we’ll respond within one business day, thank you.

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Cuenca Ecuador Property Management Companies

For a complete list of Cuenca Ecuador Property Management Companies please see our directory of real estate professionals here.

To suggest any new Cuenca Ecuador Property Management Companies to be included in the directory please use our contact form and we’ll respond within one business day, thank you.

To stay in-the-know on all the latest news any savvy investor NEEDS to know before they invest in Ecuador, sign up for my weekly Ecuador Insider’s newsletter below, free! You can unsubscribe at any time:

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