Top 8 Tips for an Arab Investor when Buying a Property in Turkey
Tips when buying a property, from experiences with the staff of the Tabu Directorate in Turkey, and the latest government decisions, provided by real estate investment experts who are looking for tips to buy an apartment in Turkey
Top 8 Tips for an Arab Investor when Buying a Property in Turkey
The procedures for buying and selling real estate in Turkey require the accuracy of implementation, following a set of tips when buying the property, based on real experiences in reality, and government decisions related to controlling the sale and purchase process and protecting the rights of investors.
Imtilak Real Estate provides a range of real estate tips, through its website and networks, as well as the easy communication with us, and soliciting advice on all real estate matters on Turkish land through our specialized real estate consultancy team.
Tips when buying a property help you to invest successfully
The key points to be met apply to all investors, while secondary points differ depending on the nationality of the investor. The type and location of the property play an important role in the buying and selling process. Investors should pay attention to the following:
Make sure that there is a real estate appraisal report
On February 15, 2019, the General Directorate of Tabu and Real Estate Records of the Ministry of Environment and Cities of the Republic of Turkey issued a circular with the number 1/2019, confirming the need for a real estate evaluation report from the date of issuing the decision for each foreigner.
The Tabu Directorate added that the real estate appraisal is no longer limited to investors who apply for Turkish citizenship, but has become one of the most important papers needed by foreign dealers in the sale and purchase of a property in Turkey.
Property experts in Turkey offer tips when buying a property, detailing the property appraisal, and the right way to get this report before proceeding with the buying and selling procedure.
The Real Estate Appraisal Report mainly contains the following points:
- Basic information of the real estate report.
- Land Registry Information.
- Information about the location, transportation and the general surroundings of the property.
- All legal notices relating to the property.
- Technical Property Specifications.
- Factors influencing evaluation during its preparation.
- Approach to the evaluation of specific information.
- Procedures for the investigation and search of the real estate market.
- The result as experts determines.
- Limits and constraints of the property.
- Other attachments and notes related to the property.
2 - Complete the procedures of ownership in the Tabu department only
The most prominent of the 2019 tips refer to the need to conduct a sale and purchase of a property in Turkey through the Tabu department, where any unofficial contracts issued by the notary public, or any other entity, are not sufficient, nor does it prove that ownership of the property has been transferred to the buyer. However, whoever wishes to own a property in Turkey must register the purchase transaction in his name in the Department of Real Estate in the Turkish Land Registry.
3- Ask about the real seller of the property
One of the most important real estate tips of Turkey this year is to ensure that the seller of the real estate is the real owner of the property by providing a copy of the title deed and visiting the real estate department. In real estate records, and this can be achieved only through the confirmation of employees of the Real Estate Department (Tabu). This golden tip is one of the most important tips an investor needs when buying a property.
Make sure that the real estate data recorded in the bond are identical with the real estate
Recent real estate tips from Turkish real estate experts emphasize the need to verify that the property is the same property as the buyer, so the actual address must be reached by accurately locating the property, based on the real estate map approved by the Department of Survey; A copy of the real estate project website can be obtained through the real estate department, to check whether the property being sold is the same property that was offered to the buyer.
5 - Check the existence of restrictions or tags on the property
Ensure that there are no restrictions on the property, such as foreclosure or tags that prevent the buying and selling process, which are likely to have a negative impact on the property or directly affect its price, depending on the type of tag or violation.
the restrictions imposed are not usually recorded in the title of the property, you must be visit the Directorate of Real Estate and make sure the report of real estate evaluation of the property, and also require a request to check the management plan from the Directorate of Land Registry, which contains the rights and restrictions and debt of the owner of the basic property, When buying a property, we always stress the need for an expert in real estate restrictions to accompany you during the transfer process and provide advice and consultation when buying a property that protects your investment both legally and commercially.
6 - Check the type of property title deed (Tabu)
In Turkey, the types of title deeds used in real estate buying and selling procedures may be similar! For example, if a real estate deed is a temporary ownership instrument, as in real estate under construction or not yet established, in this case it must be ascertained that there are no obstacles that would impede the transfer of the right to temporary ownership of the property to a permanent title After completion of the construction, such as completion of construction and construction licenses for the real estate project, and other related licenses and authorizations.
7 - Check the type of property: residential or commercial?
For example, if the property in question is a residential unit that is considered to be within the scope of the residential units, it is necessary to ascertain the type of property. And is the property intended for residential units or for other things?
Some properties are being built as shops and the commercial property is converted into residential property. It is necessary to ensure that the process of conversion from commercial to residential is completed properly, otherwise, the new owner may face unexpected problems in the future.
8 - Consult a real estate expert to get tips when buying the property
Buying real estate is an important and costly matter, and involves many risks. Therefore, the use of experts is the advice that we should repeat with every step. Every real estate investor must consult with an expert that can provide him with investment advice that protects him from unfairness, In order to preserve the right, and helps him to choose the right property for its requirements and budget.
Tips for buying an apartment in Turkey:
In conclusion, we find that the real estate expert in Turkey can advise you on several important aspects, including:
- Ensure that there is no tenant in the property in question, and if there is, be sure of the date of evacuation.
- Make sure there is no tax on the property owner, and this advice is especially directed to those looking for tips when buying a property.
- Check the eligibility of the seller or the person responsible for selling the property, in terms of having the right to execute the sale.
- Make sure there is no other owner or buyer of the property.
- Verify that the property is free from the rights arising from the mortgage, lease or any other rights.
- Visit the location of the property and make sure its validity and suitability for use in housing or work or the special purpose of the purchase.
- Obtain a copy of the property ownership contract to ensure that the previous owner has not done any form of transfer of ownership, and to ensure that there are no rights to it.
- Ensure that the area, specifications, and information contained in the title deed are in line with the actual form of the property.
The total risk of buying and selling real estate in Turkey can be overcome if the company that deals with it is licensed and has professional experience in the Turkish real estate market, providing its customers with the best real estate advice. The client will be confident that their procedures are in line with the latest decisions of the Turkish government.
We will happy in Imtilak Real Estate to offer our clients a real estate consultancy and after-sales services that guarantee the customer the comfort and safety during his trip to buy the right property escorted from the airport until after the receipt of the property!
Edited by: Imtilak Real Estate
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