Home Inspections

[LESLIE OLSON]

In the Ecuador housing market is there such a thing as home inspections? How do you know about insect damage, mold etc?? Are these contingencies built into the deals? Are there knowledgable home inspectors available?? What is the due diligence in the area?

Thanks Les Olson

[EI EXPERT – EDD STATON]

Not really. A guy here in Cuenca has just started offering such a service, but generally “let the buyer beware” is the prevailing attitude.

[MARIANNE HART]

Hi, Leslie & Edd.
I have a 12-page document on “How to Due Diligence Your Overseas Property” if that would help. It has some really good questions to ask your Realtor or Laywer. If you can send me your e-mails addresses, I sent send it to you right away.
Marianne

[EI EXPERT – EDD STATON]

I have a notion that if you presented an offer on a property accompanied by a list of deficiencies that required correction the seller would look at you like you had a third eye. The concept of maintaining a property like you are used to in North America hasn’t caught on here, so renovations and repairs after purchase are expected.

[LESLIE OLSON]

Hey Ed,

In many of the descriptions of housing in Cotacachi they go to great lengths to talk about the types of water pipes and specific building strategies. Are the places in Cuenca pretty well built as a rule or do you really need to “beware”?

Thanks, Les Olson

[EI EXPERT – EDD STATON]

Most expats choose condos over houses. Since most of them are newer construction the building standards are generally more reliable. For older homes new wiring and plumbing are often required.

[SUZAN HASKINS]

There are definitely questions you should ask about the construction, especially about if the building was built to code and if any other special demos (like applying membranes to reduce damp), etc. They need not disclose anything but you certainly can ask. You can also hire a structural engineer if you’d like to be sure load-bearing columns are adequate to withstand earthquakes and so on. It’s my understanding that new construction codes were adopted a couple of years ago. But does that mean every builder adheres to them? Of course not.

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