Steps to buy a property in Turkey
Attention has been drawn once again to the purchase of real estate in Turkey after the stability that followed the last elections held on the 24 of June, and must have been a period of waiting for the real estate market to re-activity
When we talk about the Turkish real estate market in general, we are talking about selling more than 100 thousand properties throughout Turkey each year, whether for the Turks themselves or for foreign investors, Arabs and foreigners
This number is increasing, and we look at the share of Arab investors from it. It is more than 10 thousand properties a year that are sold to Arab investors whether for housing or for investment and work.
From year to year and this figure is increasing and no wonder because the city of Istanbul is a city with a long history and on the other hand property prices are acceptable compared to other countries weaker than Turkey economically and developed
Buying a dream home in Turkey is perhaps the dream of every investor who wants to make a guaranteed profit from his investment and anyone who wants to own a home in Turkey for life and work or just for tourism
Based on all of the above we would like to offer you some tips and steps that will help you in purchasing your property in a secure and correct way
Step 1: Choose a real estate company you trust
The real estate companies in Turkey have recently increased in number and the companies have said the confidence that the investor can rely on is expected because the real estate market in Turkey is already large and is in constant prosperity and therefore the task of acquiring a real estate company with an old history in the field of real estate is not easy but not It is inevitable
Do not just focus on the price but on the quality of the advice that the realtor will give you. If you are a beginner in real estate, you should know that this company is often new in this area and therefore the offers will not be the best in the market.
Step 2: Do not take your decision quickly
Many investors have an overview of the specifications and prices of real estate in a certain area and once he communicates with the first company and offers a suitable price so that the decision to buy immediately and then regret after it, because it detects the existence of better options were available at other companies
This does not mean that you communicate with all the real estate companies before you make your decision. It will be long and tiresome. At the same time you may be missed opportunities that were only available for a limited time.
The best is to communicate with more than one company and pay attention to the services provided by these companies and then compare them and make a decision with the company that offers you the best advice and we will return to say not only the best price
Step 3: Visit the properties you liked with the real estate company
Visiting the property before buying it is an axiom and we do not allocate the third step to it. The idea here is to visit the potential properties with the real estate company itself because many investors are in error and visit several properties with several different companies thinking that this will make their choice right to watch several companies At the same time, but in fact it is different because when you visit one property from each company you deprive yourself of the opportunity to see other properties at the same company. If you want to visit all properties in all companies, you will take a long time and make a double effort This only increases our dispersion
Visiting the place of the project is important not only to ensure the existence of the project and the stage of construction, but to identify the road to it and after the real facilities and service centres and the extent of the explanation provided by the consultant by telephone with the truth
In addition to ensuring the materials used in construction and the quality of services and facilities within the project itself and finally see the surrounding environment and the quality of people living in that area
Step 4: Your lawyer is always important
We often hear about problems when buying a property in Turkey regarding the title deed or other things related to the purchase itself. To avoid these problems, we recommend that you read the above title deed
Now that you have chosen the right real estate company, you should hire your own lawyer to be able to complete the purchase of the property legally
The good thing is that many real estate companies offer you a lawyer service that follows the process of buying the property from the beginning until receipt of the right title
The lawyer's job is to ensure the integrity of the legal record of the seller of real estate and to verify the authenticity of the title of the real estate in addition to preparing the contract of sale on full terms and correct the rights of both the seller and the buyer and give additional importance to the penalty conditions that will guarantee you your right in case the company did not die construction contractor Promises and agreed delivery date
Step 5: There are periodic fees on the property is not forgotten
When you decide to buy a property in Turkey, you should pay attention to the one-time fees you pay when you buy and sell, as well as the periodic fees paid monthly or annually.
The land registry fee is not very few. It is 4% of the value of the property paid by the buyer and the seller at least 50 times, but the seller often pays the buyer the full cost, so the buyer pays 4% of the value of the property. Thousands of dollars
The broker's fee is also to be completed in order to complete the sale. In this case, it is necessary to clarify the percentage of the broker that will be obtained in case of successful completion of the transaction (this ratio is often taken from the seller and not the buyer).
Note: If you want to sell the property that you own five years before you get the title, you have to pay the profit tax on the property and it changes from 15% to 35% of the net profit earned by the seller for individuals. 20% This tax shall be exempted if the investor keeps his estate for a period of five years without selling it.
There are periodic fees, the most important monthly revenues in each building and increase value whenever the services within the residential complex is better, such as protection system and surveillance around the clock in addition to recreational areas such as gardens, swimming pools, gymnasiums, sauna, Turkish bath etc.
If you intend to invest in your property and rent it, the tenant will pay the fees. However, if you want to live in the house, you have to pay these fees monthly. Even if you want to live in this house for a month or two months in a year,
After all do not worry these returns are not expensive they are about $ 50 per month different up and down depending on the services and the space of your property
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