Legal aspects and support of the real estate purchase and sale transaction in Turkey
Buying an apartment or house abroad is a responsible step. Choosing an apartment in Turkey is half the battle, you need to correctly arrange the transaction, check the object for any encumbrances, prepare all the documents. Most of the legal aspects of a real estate purchase and sale transaction remain behind the scenes, since the real estate company deals with these issues. But to know all these moments is necessary.
When an apartment or villa in Turkey is offered for sale, the object becomes part of the portfolio of a real estate company. Accordingly, the company is obliged to check it for the presence of encumbrances - mortgage loans, installments, and so on.
It is also necessary to check the presence of debts, for example, for utility payments, for aydat, taxes.
All these points are clarified in the cadastral management. And if there is a burden or debt, the buyer should be warned about this.
Drawing up a sales contract
Any real estate transaction begins with a contract of sale.
For foreigners, the contract is made in two languages. Turkish and the native language of the buyer. This is a very important point, because not all firms are willing to bother to translate the contract. But a foreigner has the right to demand a document in a language he understands.
The following items should be included in the real estate purchase agreement in Turkey:
Cost of the object
The amount of the deposit, which must be paid to the apartment was withdrawn from sale
Payment schedule for the remaining amount
Property cadastral data
Seller and Buyer Details
If the property is under construction, the terms of putting the house or complex into operation are prescribed.
Additional aspects of the transaction.
The sale contract is signed by three parties: the seller, the buyer and the realtor. But it is not a document transferring ownership. The only document confirming the ownership of real estate in Turkey - Tapu. And only the Cadastral Office can issue it.
Real Estate Expertise
According to the new law that came into force in March of this year, now all property in Turkey, which is acquired by foreigners, is necessarily subject to examination. The purpose of the expert assessment is to establish the real cadastral value of the apartment or villa.
Again, the real estate agency deals with the organization of expertise. Everything happens quickly enough, so the buyer does not have to wait. The whole procedure takes no more than a couple of days.
In addition, the examination can be carried out in advance, even before the foreign buyer arrived in Turkey, so immediately upon arrival it will be possible to submit documents to the cadastral office.
The cost of expert assessment of real estate in Turkey is about 1,500 lire.
Preparation of documents
The realtor company also helps the buyer to prepare documents.
What you need to bring to the cadastral management:
Tax number (vergi Numara), in just a couple of minutes you can get it at Vergi Dairesi
Passport translated into Turkish and notarized
Turkish bank account
2 photos 3 * 4
The package of documents, as well as the results of expert evaluation are submitted to the Cadastral Office - Tapu.
Transfer of ownership and payment of real estate
The transfer of ownership to the new owner and, accordingly, the completion of the purchase and sale transaction occurs only in the Cadastral Office.
At the transaction necessarily present: the seller, buyer, realtor and sworn translator.
The presence of the latter is mandatory by law. The translator must be fluent in Turkish and speak the buyer’s native language, have a diploma confirming the knowledge of the languages and the document of taking the oath in the notary's office.
A sworn translator is a criminal responsible person. He must transfer to the buyer everything that was announced in the Cadastral Office.
By law, the seller must receive the money before being signed in the documents. Because it confirms that the buyer has no debt to him.
But, as a rule, the money is transferred after registration of the Tapu. So buyers "insure" against possible fraud on the part of the seller.
It is believed that the transaction was completed after the signatures were made, the money was transferred, and the buyer received the main document of the property owner in Turkey - Tapu.
Is it possible to conduct a transaction without the presence of a buyer or seller?
Of course, in Turkey there is a law allowing the transaction to be carried out remotely. For this, the buyer or seller (who cannot be present in Tapu) must issue a notarized power of attorney.
Basically, the procedure for processing all documents takes several days. And the responsible realtor accompanies the transaction from beginning to end. Maxhomeinvest company guarantees full support of the sale of real estate in Turkey and competent execution of all necessary documents.