When it comes to buying a property in Turkey, making sure of some important things before making a purchase decision is vital investing in real estate is a big step, and you must take it carefully and meticulously to ensure that your investment is protected and that you achieve your goals.
In this article, we will review some of the things that you should check before buying a property in Turkey, all you have to do is continue reading to find out more information and details that will help you when investing in real estate in the real estate sector in Turkey.
Details that must be verified before buying a property in Turkey
Below is a list of things that must be taken into account when buying a property in Turkey, let's get to know them:
Make sure to have a real estate appraisal document
Circular No. 1/2019 was issued by the General Directorate of Land Registry and Real Estate Records of the Ministry of Environment and Cities of the Republic of Turkey on February 15, 2019, and this circular stresses the need for a real estate appraisal report for every foreigner as of the date of issuance of the decision, and the Directorate confirmed that real estate appraisal has become necessary for foreign dealers in the buying and selling of real estate in Turkey, and is no longer limited to investors who seek to obtain Turkish citizenship only.
Real estate appraisal reports provide a set of basic information that includes the following points: basic information of the real estate report, real estate registry data, details of the location, transportation, and general surroundings of the real estate, legal texts related to the real estate, technical specifications of the real estate, factors affecting the evaluation process, and the methodology used in analyzing the specific information and research procedures and exploration of the real estate market, the results reached by the experts, the limits and restrictions associated with the real estate, and any other attachments or notes related to the real estate.
Read about Property Valuations and Appraisals in Türkiye
Verify the real seller of the property to be purchased
One of the most important tips for real estate in Turkey this year is to make sure that the seller of the property is the real owner of it and it is advised to obtain a copy of the property title deed and review the Real Estate Department (Tapu Department) to verify the validity of the information and it must be ensured that the information contained in the bond matches the information recorded in the real estate records, and this can be confirmed by the employees of the Real Estate Department (Tapu) only.
Ensure that the property data to be purchased matches
The actual address of the property must be reached by specifying the exact location based on the property map approved by the Real Estate Survey Department and a copy of the real estate project website can also be obtained from the Real Estate Department to ensure that the property offered for sale matches the property offered to the buyer.
Check the validity of the property
The need to verify that there are no restrictions on the property before the purchase process and these restrictions may include foreclosure or foreclosure references that may hinder the buying and selling process and adversely affect the value of the property and the entries are often not recorded in the property title deeds, and therefore it is necessary to go to the Real Estate Directorate to verify the real estate appraisal report of the property, and an audit of the management plan must be requested from the Directorate of the Real Estate Registry, as this plan contains rights, restrictions, and debts related to the original owner of the property and is transferred to the new owner when shopping and therefore, it is always recommended to have an expert in real estate restrictions accompany you through the process of transferring ownership and provide the necessary advice to protect your investment from a legal and commercial point of view.
Examine the Tapu type
There is a similarity in the types of real estate title deeds used in the procedures for buying and selling real estate in Turkey, for example if the real estate title deeds come in the form of a temporary ownership deed, as happens in real estate that is still under construction or that has not yet started construction and it must be verified that no obstacles are impeding the conversion of the temporary right of ownership of the real estate into a permanent right of ownership after the completion of construction, and it should be ensured that all building and restoration permits and other permits related to the real estate project are met, before completing the purchase process.
8 tips and cautions when buying a property in Turkey
- Ensure that there is no tenant in the property in question, and if there is, verify the agreed eviction date.
- Verifying that there are no taxes incurred by the owner of the property, especially when buying an apartment for ownership and it must be ensured that all financial obligations related to the property are paid.
- Checking the eligibility of the seller or the person responsible for selling the property, and making sure that he has the right to carry out the sale process.
- Ensure that there is no other owner of the property, and ensure that there is no conflict over ownership of the property.
- Verify that the property is free of any rights associated with the mortgage, rent, or any other rights.
- Visit the property's website and verify its validity and suitability for the desired purpose, whether it is for housing, work, or any other special purpose.
- Obtaining a copy of the property ownership contract to ensure that there has been no previous transfer of ownership and that there are no rights over the property.
- Checking the conformity of the area, specifications, and information mentioned in the property title deed (Tapu) with the actual condition of the property.
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