Having your own home is the dream of many due to the security it represents. In our country it is not necessarily an unattainable objective, since there are even incentives and subsidies for social housing aimed at the population living in poverty or low income.
Housing prices are diverse, but in any case the buyer and future owner must take into account that the cost of the house itself is one and the amount required for the purchase is not only limited to finding a bank to access a mortgage loan. You must also add other values that are very small compared to the home, but are important and necessary.
Here are some items in which the buyer must also invest, in addition to the value of the house or apartment.
domain history: This document certifies the legal history of a real estate since it contains the physical information of the municipal cadastre and the legal information of the registry. This certificate is obtained at the Property Registry of each council and in the case of Guayaquil to 2022 it has a cost of $15.94. Remember that the document is valid for two months, so if your process is delayed, you must renew it.
Bill: The drafting of this document _which is a kind of draft of the conditions of the purchase-sale of the property_ must be carried out in the company of a lawyer and, if applicable, the financial entity with which the credit was made.
This document must be delivered to the notary. After the notary receives the document, he will make the new public deed. Both the buyer and the seller sign in the presence of the notary and later in the Property Registry the transfer of ownership must be registered.
The cost of this procedure depends on the total value of the mortgage loan in relation to the SBU basic salary ($425 [revisar tabla]. Lawyer fees are not included in that value.
[Tabla] Rates or notary fees in force in Ecuador for this year 2022. Ownership transfer, exchanges, dation in payment, liquidation of marital partnership, or common-law partnership, waiver of assets, partition and adjudication, novation, trustee transfer, mortgage ownership. Lease contract by public deed (monthly fee for months that the contract lasts). Acts, contracts, notarial proceedings and other unforeseen.
| amount | % | Worth | 12% VAT | Total |
|---|---|---|---|---|
| 0-10,000 | twenty% | 85.00 | 10.20 | 95.20 |
| 10,001-30,000 | 35% | 148.75 | 17.85 | 166.60 |
| 30,001-60,000 | fifty% | 212.50 | 25.50 | 238.00 |
| 60,001-90,000 | 80% | 340.00 | 40.80 | 380.80 |
| 90,001-150,000 | 135% | 573.75 | 68.85 | 642.60 |
| 150,001-300,000 | 200% | 850.00 | 102.00 | 952.00 |
| 300,001-600,000 | 400% | 1,700.00 | 204.00 | 1,904.00 |
| 600,001 – 1,000,000 | 500% | 2,125.00 | 255.00 | 2,380.00 |
| 1,000,001 – 2,000,000 | 1000% | 4,250.00 | 510.00 | 4,760.00 |
| 2,000,001 – 3,000,000 | 1500% | 6,375.00 | 765.00 | 7,140.00 |
| 3,000,001 -4,000,000 | 2000% | 8,500.00 | 1,020.00 | 9,520.00 |
| 4,000,001 and up | 20 SBUs | + 0.001 of the surplus |
Costs for housing registration in the Property Registry in Guayaquil:
| Municipal commercial appraisal | fee to pay |
|---|---|
| Less than $1,000.00 | $25.00 |
| From $1,001.00 to $450,000.00 | $253.73 |
| From $450,001.00 to $800,000.00 | $550.00 |
| From $800,001.00 to $1,000,000.00 | $650.00 |
| From $1,000,001.00 to $3,000,000.00 | $950.00 |
| From $3,000,001.00 to $8,000,000.00 | $2,000.00 |
| From $8,000,001.00 to $12,000,000.00 | $3,000.00 |
| From $12,000,001.00 to $20,000,000.00 | $4,000.00 |
| From $20,000,001.00 onwards | $5,000.00 |
In the web portal of the Land Registry, it is now possible to verify the registration of real estate
How can I sell a property that is mortgaged?
The documents that must be present for the sale of homes is the copy of the identity card and voting certificate of both the buyer and the seller in case they are natural persons. In case of being married, both the wife and the husband are required.
So also the property title deed that is issued at the notary’s office. If it is horizontal property, such as apartments, condominiums, parking lots, this must be specified; in case of effective possession, it is requested by the heirs.
In addition, the payment of the property tax for the current year, alcabalas, must be made in the local municipalities. (I)
Source: Eluniverso
Paul is a talented author and journalist with a passion for entertainment and general news. He currently works as a writer at the 247 News Agency, where he has established herself as a respected voice in the industry.
