Turkey, full of extraordinary natural beauties, surrounded by seas on 3 sides, has a very important political position, is a country that is favored by foreigners with many times the return on investment. Although it may seem like an unusual idea to invest in real estate in another country, your legal rights are guaranteed as Turkey is a democratic country. In addition, it allows you to have many opportunities, such as a citizenship residence permit, depending on the size of the investment made.
After the Turkish lira depreciated against the dollar, a holiday in Turkey has become quite affordable. If you are thinking of buying a house but can’t decide, come and get the opportunity to experience this paradise country. You will see that Turkish law and real estate laws have a structure designed to protect your rights in all transactions; in this sense, it is quite safe to buy a house in Turkey.
How to Protect Your Property Investment?
Let’s say you have found suitable properties for sale in Turkey after examining the houses for sale in Turkey but do not know what security methods you should protect after purchasing this house; please continue reading. There are many methods you can do to protect your property.
The first of these is that the real estate agency that will sell the property you like is professional, thus ensuring that it is a counterparty you can trust in all transactions. Experienced real estate agencies can guide you better and take care of your rights and suitable property for sale in Turkey. Being in contact with a lawyer in Turkey after this stage will ensure that you can take immediate action in any situation that may occur to your property and that you will not be alone against Turkish law. After all, the property is a type of investment that requires maintenance. Another method we want to talk about is to make your payments online because the legal laws valid in Turkey require a receipt to prove the correctness of your payment. Since you will not be able to prove the payments you will make by hand, only make small additional payments by hand.
How Do We Make It Safe To Buy A House In Turkey?
Listed below are what you need to do to protect the value of the money you pay in a possible situation.
- Getting Residence Permit: By investing in the country to the extent that you can acquire citizenship, you will have the right to express your people on that property individually against Turkish law, which means that you will be considered a citizen in that country, not as a foreigner.
- Finding The Right Agent: Having an experienced real estate agency that will understand your wishes and will also take care of the leasing process after purchasing your house will provide both convenience and profit for you.
- Inspection Before Purchase: To understand the value of the house and whether it will be an important investment property, it will be very important for you to visit and inspect the house with a specialist before buying the property and to look at the reports documenting whether the property is earthquake resistant.
- Title Deed: Owning a title deed in Turkey is the only document that proves that property is yours. Receiving this document individually is one of your methods of protecting the investment.
- Hiring Someone to Take Care of the Property while You Are not in Turkey: It is very important that someone can take care of the property instead of you in unpleasant events such as fire, natural disaster, flood, etc. that may be encountered while you are away, both protect the value of the investment you have made and you will not have to deal with problems again and lose money in vain when you come.
Things to consider while buying a house are listed below:
1. Always Use a Solicitor
Turkish law does not require home buyers to hire a lawyer but strongly recommends it, because only then you can protect your rights with a person who knows Turkish law and express yourself more easily in any misunderstanding. This duty lawyer will be responsible for the preparation of contracts.
2. Get Contracts in Turkey Notarised
In Turkish law, no court will accept a contract without notarization, therefore, if there is any dispute regarding your property purchase, the contract is void. If so, in order not to experience this situation, you will legally protect your right by requesting a notarized document of the contract you have made before. In cases where the contract is in Turkish, only a recognized and legally qualified translator can perform this transaction.
3. Money Paper Trails in Turkey
It is very important for foreigners living abroad to open a Turkish bank account while making a real estate investment in Turkey. This is because the purchase must be a paper trail. Therefore, always pay for the property with a bank deposit. Do not hand over any cash. You cannot prove your cash payments with a receipt, so it cannot be proven whether you have made the payment legally or not.
4. Only Use a Licensed Estate Agent
Since Turkey did not have a law regulated on this subject years ago, every person wanted to sell a house, of course, this made the market quite complicated and paved the way for fraud, but after the latest laws, you need to use a proven real estate agent to own a house. You can learn how to learn it both from google and by asking for its legal documents.
5. Habitation Certificates for Properties in Turkey
The residence is not allowed in properties that do not have a residence permit. Therefore, low-priced luxury and attractive houses can be misleading.
6. Power of Attorney
Under Turkish law, buyers can nominate someone to sign the deeds on their behalf. This usually works well for foreigners who can’t be in the country. However, check the power of attorney small print to make sure it doesn’t give any third party more rights than just signing the deeds. Otherwise, this right may be abused.
7. Research the Turkish Property Market
Instead of researching the Turkish real estate market in general, getting to know the markets through the regions, you have chosen provides you with better research. For example, a villa may be priced high in one neighborhood, but in another community with lots of land and low buyers’ demand, the house would not be worth the same. For example, while the demand is higher in Istanbul, Bodrum, and Izmir, the market is more flexible in other provinces.
What are the Types of Real Estate Scams?
Real estate fraud methods are listed below.
- Lack of Proper Documentation: If the seller does not have the necessary paperwork when buying a home, it is a big danger sign.
- Pressure to Act Immediately: The seller may pressure the prospective home buyers with money or personal information that if they do not receive the home immediately, it will be sold to others.
- Unrealistic Guarantees: If a seller promises you an offer that sounds too good to be true, it probably isn’t. So don’t be fooled into buying a house for unrealistic prices.
- Demands to Wire Money: Some types of real estate scammers will claim that the funds are a down payment or deposit, demanding that home buyers transfer money directly to them. Don’t be fooled by this situation and don’t lose your money.
How to Avoid a Property Scam in Turkey?
Here’s what you can do to avoid fraud.
- Invest time and research: Solve possible problems by doing research.
- Pay Attention to Real Estate Ads on the Internet: Be aware of campaigns with internet and TV ads.
- Choose a reliable agent: You can insure yourself by working with a known and reliable real estate agent.
- Work with a lawyer/advisor: You can follow a safer way by working with a consultant or lawyer for the preparation and delivery of your legal documents.
Following these notices make you avoid property scams in Turkey.