The concept of real estate can be defined as immovable property that cannot be moved from one place to another. Real estate products in Turkey have a high potential for foreign investors that coming from many different nationalities. It meets the expectations of buyers with its wide range of real estate and the quality of these real estate products.
With its strategic location, natural and cultural beauties, developed trade and tourism sector, live entertainment, and social life, Turkey attracts foreign investors. Turkey always offers advantageous opportunities to foreign real estate investors with its stable growth potential and economy.
Especially considering the last 10 years, it is possible to say that the Turkish real estate market has developed considerably. In this great development, the contribution of foreign buyers is substantial.
After deciding to own real estate in Turkey, it is necessary to decide by paying attention to the above details.
Step 1 - Do Research
After you decide to buy real estate in Turkey, it is very important to do detailed research about the house you will buy. In matters such as construction, and the quality of the materials used, assistance should be sought from the regional municipality and the apartment management where the residence is located, and a good research process should be carried out.
The structural features of the house and the demographic structure of the environment are very important. However, it is of great importance in the official process related to housing. Detailed research should be done to avoid any restrictive measures in the title deed that will cause problems during and after the sale. At this point, it should be noted that the two most important elements are the occupancy permit and the building permit. Examining the land registry office or the construction project in the municipality of a residence, workplace or similar real estate that you will buy protects you from possible risks. If there are any modifications and transactions contrary to the project that emerged later on in the real estate taken from the research, this situation may cause you to be penalized by the municipality.
Step 2 - Find a Real Estate Company Agency
The first thing you should do after you decide to buy real estate in Turkey should be to contact a professional real estate company that works with reliable lawyers. A real estate company, which provides professional service, provides buyers with the opportunity to buy and sell with peace of mind, especially when purchasing real estate abroad. A reliable and expert company performs all the checks for you. Professional real estate companies act with you at every step in the purchasing process and provide a qualified consultancy service with the support of company lawyers. Sales consultants who will advise you during the process act on your behalf, not on behalf of other persons. Turkey’s leading real estate company Istanbul Property helps you to find the best options and serves you with their eagerness.
Step 3 - Determine the House You Want to Buy
Many criteria are taken into account when deciding to buy real estate. From the name of the budget you will allocate for the purchase, you need to decide on the location where the real estate you want to buy will be located. The location you will choose also affects the transportation, social facilities, and similar elements that the property will have. You need to make sure that the real estate you decide to buy meets your needs and wishes. When deciding on the house you will buy property in Turkey, it is of great importance to consider factors such as the m² the house will have, the number of rooms, its design features, and the quality of the common areas it has.
Step 4 - Negotiate Prices
After you decide to buy real estate, another step that comes up is the price issue. It is quite important to guess for yourself that you are agreeing to the right price. To perform this operation, it will be an effective method to compare the sales prices of other properties in the same location and with the same qualifications.
Step 5 - Reserve the Property and Freeze its Price
When you find the real estate of your dreams, it is very important to reserve the property before the purchase process to avoid a possible loss of rights. The cost of reserving a property in Turkey varies but is usually around £1,000. This fee is non-refundable after transactions. This amount is paid to the real estate seller as a reservation deposit. This paid reservation amount is subtracted from the agreed purchase price. The reservation deposit is non-refundable in case of abandonment of the sale after you have booked the property.
Step 6 - Buy Property
Real estate sales transactions are realized when the real estate seller agrees to give the real estate in return for the agreed price. Accordingly, the buyer accepts that they undertake to purchase the immovable and to pay the price. The official transfer process is registered with a mutual agreement that covers the promises and commitments of the parties to the officer in charge. This step is very important for people who want to buy real estate. To prevent loss of rights in the future, it is necessary to sign a written contract. In this way, the sale transaction becomes a legal document.
The realization of the real estate sales contract in writing is not sufficient alone to make the contract valid. For a sales contract to become official, it must be signed in the presence of a notary public. Real estate sales contracts that are not executed before a notary public are accepted as invalid.
Step 7 - Receive the title deed (TAPU)
Deed transfer transactions are made to formalize the change of property owner. The buyer and seller parties complete the transaction by being present during the title deed transfer process. In this way, the sale is officially completed.
After the sales process, an appointment record must be created on the official website of the Land Registry Directorate for the deed delivery process. You can also make an appointment by calling hotline number 181. It is not possible to carry out deed transfer transactions without an appointment.
How to Find Real Estate in Turkey?
Foreign nationals can find the real estate of their dreams and become the owner of this property with the support they receive from people who are qualified as real estate experts in Turkey. These persons perform sales, investment, and similar transactions regarding buildings, offices, and lands on behalf of their customers. These people evaluate the features of the real estate project and support you to find the most suitable real estate for you.