In Ecuador, this is not the case.
There is no true MLS (or nationwide multiple listing service).
Nor are people required to declare and prove the actual vaue they paid for their home. Most in fact lie to the Municipal by stating a lesser amount than they actually paid in order to pay less transfer taxes.
Municipal tax assessments rarely reflect the actual market reality.
Its pretty much a crap shoot.
Yet its easy for a seller to leave money on the table by asking too little, or for buyers to overpay.
Simply shopping around a lot before buying or consulting an objective professional in your area is the best bet. For instance, I now offer the service of appraisals for property located in the Quito area, Cuenca, Guayaquil or the coast of Ecuador.
And the next newsletter will be full of the responses people like you send me now.
No names, ultra-specifics nor contact info will be mentioned.
The more folks who respond, the more interesting the next newsletter will be for everyone.
Sometimes you have to give a little to get a little.
Maybe you have knowledge of a purchase, and how much was paid, but you weren´t the buyer, that´s OK too if you don´t think they´d mind you sharing the info.
What we need for this to be truly valuable is...
-the approx. location
-the actual purchase price
-the type of property and age
-meters squared of land and construction
-approx date of transaction
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