Things I have learned while planning my move to Ecuador

That's what I was hoping when you bought the place

I am a no guts no glory type myself and it has made all the difference for having an interesting life that most people envy. Wish I were in my twenties again.

Now that I'm pushing sixty I don't jump off cliffs like I used to.. Most of the Third World is  getting to be a tougher place for single females

You and Tony will be welcome too if my plan works out for the French retirement visa.. You think the EC visa requirements are a pain in the butt. I actually have to show up for an interview at the French Consulate in San Francisco. They are such snobs...guess they want to make sure your fingernails are clean enough to get into their country. Anyway, I work on my mauvaise francaise as much as possible which is a big help getting your foot in the proverbial door.. And very fussy bureaucrats  All my working life was a great one for crossing my t's and dotting my i's so I'm not too worried about the paperwork.....none of this ridiculous apostille business

From the last time I was in France I know that  making an attempt to speak the language was very important, a real test for acceptance. They are not as warm and welcoming  as the Ecuadorians sound. Also saying I was Canadian rather than American was a big help. I worked for a Canadian company so it was not a big stretch

My financial ducks won't be in a row until next Spring and I have some other loose ends to tie up before then. May even be able to ship the car (with some goods) so I don't have to live in town near public transportation.

I actually think your idea of shipping the furniture wasn't a bad idea. You said it had some kind of sentimental value and the furniture down there is reported to be crappy and expensive except for the stuff built by native craftsmen. Think it may also help to have some of your things around you for comfort on homesick or bad days.

Let me know when the guest room is ready

Sue

Thanks for your warm welcome and your kind words.

I could write a book about my experiences with this project and I guess it would be an interesting one. Perhaps one day or as we say here: manana!

It has been a good time here in Ecuador for me, I learned a lot and had so many new experiences. But it is time to move on for various reasons and we are contemplating to go eventually to Europe. The best experience for me in Ecuador was to find my fiance here and I am looking forward to our new future adventures at new shores.....

Volkhard wrote:

Thanks for your warm welcome and your kind words.

I could write a book about my experiences with this project and I guess it would be an interesting one. Perhaps one day or as we say here: manana!

It has been a good time here in Ecuador for me, I learned a lot and had so many new experiences. But it is time to move on for various reasons and we are contemplating to go eventually to Europe. The best experience for me in Ecuador was to find my fiance here and I am looking forward to our new future adventures at new shores.....

Best of luck wherever you go.

LaureeJ wrote:

Take care and you will always be welcome to visit me in San Clemente!!!

Just tell me when the guest room is ready

Welcome to the third world honey!

cccmedia wrote:

Go for the 25K-in-a-bank-CD first as to satisfy the investment requirement.  Then, as Lauree implied, you can immediately get your visa paperwork going.  Later, perhaps much later, when the house is in your name, you can transfer out of the CD-based residency visa into a real-estate-based visa, and have the right to pull your cash out of the CD investment.
cccmedia in Quito

Another thing to keep in  mind when considering moving a CD to a Land investment is that banks and credit unions will not allow you to cancel the CD investment at your leisure without a significant penalty. I was told by an investment person at JEP that they would not allow the CD to be cashed-in for a property purchase even if you pay a penalty. You can, however, cash it in if you are sick and have to leave the country OR ,apparently, just have to leave the country.

LaureeJ wrote:

All for a measly $64 USD.

$64/day US?  That translates to, roughly, $80/day in Canadian funds.  That isn't exactly inexpensive, although affordable for a few days. I wouldn't call it "measly".  I guess it's a matter of perspective.

MikeGB wrote:

LaureeJ wrote:

All for a measly $64 USD.

$64/day US?  That translates to, roughly, $80/day in Canadian funds.  That isn't exactly inexpensive, although affordable for a few days. I wouldn't call it "measly".  I guess it's a matter of perspective.

In the USA difficult to get a room with facilities for less than $60.

MikeGB wrote:

cccmedia wrote:

Go for the 25K-in-a-bank-CD first as to satisfy the investment requirement.  Then, as Lauree implied, you can immediately get your visa paperwork going.  Later, perhaps much later, when the house is in your name, you can transfer out of the CD-based residency visa into a real-estate-based visa, and have the right to pull your cash out of the CD investment.
cccmedia in Quito

Another thing to keep in  mind when considering moving a CD to a Land investment is that banks and credit unions will not allow you to cancel the CD investment at your leisure without a significant penalty. I was told by an investment person at JEP that they would not allow the CD to be cashed-in for a property purchase even if you pay a penalty. You can, however, cash it in if you are sick and have to leave the country OR ,apparently, just have to leave the country.

CDs have terms.  If your plan is to access the cash once your home purchase closes, you choose a term that will expire at an appropriate time to avoid a penalty.

cccmedia in Quito

Doesn't she have a 90  visa which can be extended another 90 days before she has start worrying about the residence visa? Can the $25K be held in escrow till she can open a bank account? Can the down payment be held in escrow until there starts to be some timeline (manana or no manana) or verifiable proof that things are moving toward a closing? an affidavit from the son maybe? Worst that can happen is she has to go to Peru or even better take a holiday in CR or Rio, no? Still think the right real estate attorney could help her with this predicament.

suefrankdahl wrote:

Doesn't she have a 90  visa which can be extended another 90 days before she has start worrying about the residence visa?

Lauree's original tourist stamp on arrival is still valid for her next EC entry.  It is good for a total of 90 days, including multiple entries, during a 365-day period.  Since she didn't come close to staying in-country for 90 days, she is welcome back any time during this period.

If she applies for it timely, she can extend for up to an additional 180 days while in Ecuador with a non-immigrant tourist visa extension.

cccmedia in Quito

suefrankdahl wrote:

Can the $25K be held in escrow till she can open a bank account? Can the down payment be held in escrow until there starts to be some timeline or verifiable proof that things are moving toward a closing?

As stated in Report #22 in this thread, a property buyer can park funds with an attorney in the Ecuadorian equivalent of an escrow account.

A purchase can be completed without the buyer having a personal bank account in her name in Ecuador.

When I bought my Quito condo, I did not use a bank account to make my payments.  I wired funds from the U.S. according to the seller's requirements directly into the seller's bank account.

cccmedia in Quito

suefrankdahl wrote:

Worst that can happen is she has to go to Peru or even better take a holiday in CR or Rio, no?

Briefly crossing into another South American country is no longer a reliable way to get more time in Ecuador.

Based on one Expat's report on her attempt to do this, she discovered that an Ecuadorian consulate in Peru had its own way of doing things... exponentially complicating the predicament for herself and her husband.

Rio?  Don't even think about it.  Getting things done in Spanish is challenging enough.  Trying in a Portuguese-speaking country -- Brazil -- could be a recipe for disaster.

cccmedia in Quito

cccmedia wrote:

suefrankdahl wrote:

As stated in Report #22 in this thread, a property buyer can park funds with an attorney in the Ecuadorian equivalent of an escrow account.

When I bought my Quito condo, I did not use a bank account to make my payments.  I wired funds from the U.S. according to the seller's requirements directly into the seller's bank account.

cccmedia in Quito

Think if I were in her shoes I would go with option #2. Maybe less need for the attorney and wiring money is almost foolproof

cccmedia wrote:

suefrankdahl wrote:

Worst that can happen is she has to go to Peru or even better take a holiday in CR or Rio, no?

Rio?  Don't even think about it.  Getting things done in Spanish is challenging enough.  Trying in a Portuguese-speaking country -- Brazil -- could be a recipe for disaster.

cccmedia in Quito

`Rio......big tourist and  sports town.....she could probably get by in English and by all reports is working on her Spanish. Think I'd go for CR.....lots of retired gringos.......stunning west coast....at least it was 25 years ago and I am partial to the Pacific Coast

Simple email is the first fallacy.  A written statement with certification is best bet. Attorneys are not in the habit of putting your interests above their own.  Watch out ! s new law requires you to put a security fence around your property, and another requires sales of house to jump radically to new owners believe after the third owner<.  Guess who pockets the excess from original cost<-  Also if you inherit dollars automatically the gov. takes 25% to cover a fund that is bankrupt.   <lots of surprises ahead with the law making and security measures in place...ie. heavy police presence.   <<your unfenced property is assumed up for grabs with the new laws.  Best find a good reputible attorney...most do not have the ethics you will need for your purchased allegance!

This is a little late at this point but,

I learned the hard way that when you set up a wire transfer from U.S. bank to EC bank. Make sure you do a test run first.
I had done this with Produbanco with no problem and stupidly assumed it would be the same with Pichincha. No joy, they said they could not verify our address. As we had moved to another place, to avoid confusion we used the address of an apartment we have had for years.

After a month I was able to getthe money back into my U.S. account and moved on. Where the funds were for that month, I have no idea.

The learning point here is, things do not work  as they do in the U.S. or anywhere else for that matter. I learned pretty quick that instant gratification was a thing of the past. It is true that you can catch more bees with honey than vinegar, and it does seem to work a good deal of the time in Ec. Like they say, " When in Rome, do as the Romans".

Luckily I was able to live in Hawaii for some time, and learned all about the "aloha time" and how it worked. The more you push the more they resist. While it can be difficult, there is alot to be said for having a coke and smile, let things work themself out.

Don Quioxte wrote:

Watch out ! new law ,,, requires sales of house to jump radically to new owners believe after the third owner<.  Guess who pockets the excess from original cost<-

I have read this citation repeatedly and still have no idea what it means.  Can you elaborate, Don Quixote?

Sancho Panza

GMC(SW) wrote:

I learned the hard way that when you set up a wire transfer from U.S. bank to EC bank. Make sure you do a test run first.
I had done this with Produbanco with no problem and stupidly assumed it would be the same with Pichincha. No joy, they said they could not verify our address. As we had moved to another place, to avoid confusion we used the address of an apartment we have had for years.

After a month I was able to getthe money back into my U.S. account and moved on. Where the funds were for that month, I have no idea.

".

I said ALMOST foolproof

GMC(SW) wrote:

This is a little late at this point but,
;.
Luckily I was able to live in Hawaii for some time, and learned all about the "aloha time" and how it worked. The more you push the more they resist. While it can be difficult, there is alot to be said for having a coke and smile, let things work themself out.

And then there's Alaska time....the last frontier....always thought of it as another planet when I lived there......one of  two non contiguous  states....They sometimes refer to the lower 48 as The Outside

Patience was never one of my virtues....so I did have to bite my tongue for a bit before I got into the groove