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Pitfalls You Must Avoid When Buying Real Estate Turkey

7 August 2020
Pitfalls You Must Avoid When Buying Real Estate Turkey

In recent years the market of real estate Turkey is growing rapidly. And if you want to invest in Turkey’s growing real estate market then you better start your research. There is a number of things to consider before you go and buy a property. Plus, make sure to take care of the potential pitfalls to gain most of the profit.

Make a deal with a reliable agent for real estate Turkey

This is the first step you need to take care of. When buying a land, always make sure to query about their services and offer. Many people often falls under the trap of online real estate Turkey buying process and then upon inspection, they discover many flaws of the property. Also, don’t rush and make all the decision on phone conversation either.

Inspection of real estate in Turkey for sale

After you have chosen some properties, send an enquiry email to the company. With this enquiry email you can book a day or two of inspection of the land and the neighbouring places as well. Once the confirmation email comes of the inspection, you can book your trip to explore the real estate market Turkey.

Payment clarification for real estate market Turkey

When it’s time to sign the title deed or reservation deposit, the real estate agent will check all the documentation on the seller and buyer’s behalf. But it is always better to check the paperwork by your lawyer as well. The lawyer can check if there are any hidden clause or not or if the property of real estate Turkey is under outstanding debts or not. Before the payment is done, make sure to check all the documents as well as ask for the maintenance charges for the property. If the property is residential area the maintenance fee should include cleaning of garden, pool etc. Apart from that, ask for all the utility bills, and ask if the property is under mortgage.

Lawyer support for real estate in Turkey for sale

When it comes to real estate in foreign countries, there are so many things that can go wrong. First of all, even if you have a reliable agent you should get your own lawyer. Remember the real estate agent is working behalf of the seller as well, so if you don’t have the proper support you may deal with some legal consequences later. Again when searching for a lawyer for real estate Turkey, make sure to get a trusted one.

Permission to buy real estate Turkey

Before you grab the chance of real estate in Turkey for sale and buy yourself a property, foreigners need to get permission from that region military authorities. This process used to take 3 to 4 months. But now it only takes 2 to 4 weeks in total. Also you can pay a lower deposit to the seller and then the full payment on final agreement.

Essential tips for buying real estate in Turkey for sale

  • Many people go for an unauthorised seller to buy property to save money. But that can cause more loss then profit. An authorised real estate agent will help you understand the market value which other won’t to gain more profit from you.
  • Apply for the residence permit as soon as you bought the real estate Turkey. It’s free and also get the taxation ID from local tax office.
  • Always explore your options, talk to more than one agent to compare price. This way you can get the best offer of a property and also research the market for further usage.

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