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Buying a Property in Türkiye - Tips to Avoid Common Mistakes

15/03/2024 Investment in Turkey 49 Buying a Property in Türkiye - Tips to Avoid Common Mistakes

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  • There are always common mistakes when buying a property in Turkey. Sometimes they are made by the buyer and sometimes they are made by the broker as well, but if you collect these mistakes and focus on them, they will open a door for you to reach exactly what you want when buying property in Turkey. Our article today is written from experience. Extending more than 11 years in the Turkish real estate market. 
  • Damas Turk Real Estate always accustoms you to providing the best advice, information, studies and news that clarify everything that concerns the Turkish real estate market, and therefore it is always the first to put the reality in front of you and investors, and our article today, even if it is brief, has important benefits for you if you are about to buy a property in Turkey, let's learn about the main ideas of our article today: 
  • Do not use a real estate company when purchasing in Türkiye 
  • Relying exclusively on official real estate evaluation 
  • Ensure that the property is free of foreclosure or similar problems 
  • Beware of low real estate prices in Türkiye 
  • General advice when buying a property in Türkiye 

Do not Use a Real Estate Company when Purchasing in Türkiye  

  • Not using a real estate company when purchasing a property in Turkey could expose you and your investors to several risks, including falling into the trap of fraud or poor selection due to lack of experience in accurate real estate evaluation, for example! Or someone impersonated the property owner, and unfortunately history shows that many investors faced significant financial losses as a result. 
  • This means that choosing the wrong real estate consultant or not using him at all is one of the most prominent reasons that led to these losses. Therefore, it is always advisable to cooperate with a reliable real estate company that provides support and advice during the purchase process. We, Damas Turk Real Estate, have deep experience, and we provide our services in 4 Turkish cities, let us know the advantages of dealing with us. 
  • More than eleven years of experience in the Turkish real estate market.
  • A specialized team provides full support during the property purchase journey.
  • Providing legal cover to protect customers from any surprises or problems that may arise during the purchasing process.
  • Helping clients obtain the best property and the best investment with profitable and remunerative returns.
  • Providing comprehensive and detailed services starting from the moment of interest in purchasing until receiving citizenship and the key to the property.
  • The company has branches throughout Turkey including Istanbul, Kocaeli, Bursa, and Antalya.
  • Providing reliable advice based on previous successful experiences.
  • Providing airport reception and organizing real estate tours to showcase the available options.
  • Providing a team of lawyers to accompany the client while searching for the property and verifying its legal status.
  • Guaranteeing the best offers and prices for desired properties.

Relying Exclusively on Official Real Estate Evaluation 

  • Real estate evaluation in Turkey is extremely important to ensure a safe and transparent real estate purchase process. This evaluation, which must be prepared by private companies approved by the Land Registry Directorates, provides a detailed report on the property designated for sale, including its real market price. This step It protects buyers, especially foreigners, from falling into the trap of exaggerated prices that may be offered by sellers with the aim of deception and financial gain.
  • Some may believe that the number displayed for sale of the property on digital platforms in Turkey or by construction companies is the real number of the property; However, that is not true! Especially since the Turkish government has currently identified one or two companies to evaluate real estate designated for obtaining Turkish citizenship!  
  • Yes.. Therefore, you must prepare well for any surprises in the Turkish real estate market, especially since prices are currently unstable due to the difference in supply and demand for them. Rely on the real estate evaluation with a good understanding of it, or leave us the task of clarifying all its items for you through other articles that we talked to you about. About real estate evaluation or by contacting us directly.  

Ensure that the Property is Free of Foreclosure or Similar Problems 

  • First, you must pay careful attention and great care to the history and past of the apartment. You must know the history of this property from the beginning of its inception to the present time, and if necessary, search in the property archives in the relevant municipality, because this information is very important before purchasing, but you must have it with you. An expert will accompany you in this.  
  • Secondly, make sure that the property is free of mortgages or accumulated debts due to some reason, whether it is real estate loans, a mortgage for some reason due to accumulated debts, or a seizure due to a divorce case and the like, and there are many reasons, and therefore you must ensure that the property is free of all These reasons, because it is natural, due to ignorance, to accept all these reasons in your name after transferring ownership!
  • Third, the type of title deed. Have you previously learned about the types of title deed in Turkey? Its stages of development and its various forms? What is the status of the purchase under construction or ready? All of these matters require a lawyer who specializes in them and their details, so do not leave yourself vulnerable to accepting a title deed that you may later regret purchasing due to not wanting to buy such types after a later period! 
  • It is necessary to know all the matters legally related to the apartment before even paying the deposit to buy it. There are many cases that we have really noticed through the problems that exist in a large percentage of real estate in Turkey, the most prominent of which were the mortgage, accumulated taxes, or incomplete installments. There are actually Some people have bought apartments in this condition!  

Beware of Low Real Estate Prices in Türkiye 

  • First of all, real estate prices in Turkey are considered relatively reasonable compared to European markets, thanks to the added value they provide, such as sea views, high-end services in residential complexes, and the location close to city centers. These features make real estate investment in Turkey an incomparably attractive option compared to Other countries.
  • However, “very” low prices may sometimes indicate potential risks such as an unsuitable location, lack of services, or even legal problems associated with the property! Therefore, we advise you and investors to research and investigate well before completing the purchase process, to look at the long-term investment value, and to ensure all legal and technical aspects of the property. 

Tips Before Buying an Apartment in Istanbul

  • The tips we will mention are quick points that clarify what you should focus on. However, if you want to elaborate and learn more, you should contact the Damas Turk Real Estate legal team, or follow specialized articles in this regard. Here are the most important general tips: 
  • First, acquire a veteran real estate consultant in the Turkish real estate market 
  • Secondly , buy according to your needs and what is compatible with your budget
  • Thirdly , choose the appropriate area and location for the goal of buying an apartment in Turkey
  • Thirdly, ensure the value of the property and its conformity with the prices in the Turkish real estate market
  • Fifthly, focus on ways to transfer money to the seller and ensure that you do not fall victim to fraud, etc 
  • Sixth, choose the strategic and future location in Turkey based on the expert advisor’s view
  • Seventh , choose the construction company with a good reputation and a long history in the field of construction
  • Eighth: Make sure that the legal papers related to the property are correct and make sure to receive the title deed directly 
  • At the end of the article, we always remind you that our professional team provides you with a summary of its experience in the Turkish real estate market for more than ten years. We have successful plans for investing in Turkey, and we also offer you the service of obtaining Turkish citizenship by purchasing real estate, through knowledgeable Turkish consultants and lawyers. Legal affairs in Turkey broadly

FAQs 

  • What is the importance of official real estate evaluation when buying a property in Türkiye?
  • The official real estate evaluation protects buyers from exaggerated prices and ensures an accurate estimate of the property's value, because it is carried out by accredited companies that provide a detailed report that reflects the real value of the property in the market. 
  • How can you avoid falling into the trap of very low real estate prices in Türkiye?
  • You must research and investigate carefully and verify all the legal and technical aspects of the property, in addition to verifying the reliability of the seller or real estate company and using official real estate evaluation services

Keywords:

Turkey real estate

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