Legal aspects and transaction support
In our company, you will not only find a good option for buying or renting, but also legally professionally prepare documents for you and take ownership of real estate in your name, make you a technical passport and help with registration of subscription numbers for light and water.
Choosing an apartment or a villa is just the first step to formalize a purchase and sale transaction. The real estate agency is obliged to check this or that object for legal purity, and to help its clients prepare the entire package of necessary documents for registration of the transaction in the cadastral office. With us, you can be confident and calm, because absolutely all offers before showing to the buyer and immediately before the sale, our lawyers carefully check. As well as our company's specialists who speak both Russian and Turkish fluently, they will constantly accompany you to all state and municipal institutions.
Legal aspects and support of the purchase and sale of real estate in Turkey
Buying an apartment or a house abroad is a responsible step. To choose an apartment is half the case, it is necessary to properly execute the transaction, check the object for encumbrances, prepare all documents. Most of the legal aspects of the real estate purchase and sale transaction remain behind the scenes, as these issues are handled by a real estate company. But it is absolutely necessary to know all these points.
When an apartment or villa in Turkey is put up for sale, the object becomes part of the portfolio of a real estate company. Accordingly, the company is obliged to check it for encumbrances – mortgages, installments, and so on.
It is also necessary to check for arrears, for example, on utility bills, IDAT, taxes.
All these points are clarified in the cadastral office. And if there are encumbrances or debts, the buyer should be warned about this.
Drafting a purchase and sale agreement
Any real estate transaction begins with a purchase and sale agreement.
For foreigners, the contract is drawn up in two languages. Turkish and the buyer's native language. This is a very important point, because not all firms are willing to bother translating the contract. But a foreigner has the right to demand a document in a language he understands.
The following items should be included in the contract of sale of real estate in Turkey:
- The cost of the object
- The amount of the deposit that must be made so that the apartment is withdrawn from sale
- Payment schedule for the remaining amount
- Cadastral data of real estate
- Seller and buyer data
- If the property is under construction, the deadlines for putting the house or complex into operation are prescribed
- Additional aspects of the transaction.
The contract of sale is signed by three parties: the seller, the buyer and the realtor. But it is not a document transferring ownership. The only document confirming the ownership of real estate in Turkey is TAPU. And only the Cadastral Office can issue it.
Real estate expertise
According to the new law that came into force in March of this year, now all real estate in Turkey that foreigners acquire is necessarily subject to examination. The purpose of the expert assessment is to establish the real cadastral value of an apartment or villa.
The organization of the examination is again handled by a real estate agency. Everything happens fast enough, so the buyer does not have to wait. The whole procedure takes no more than a couple of days.
In addition, the examination can be carried out in advance, even before the foreign buyer arrived in Turkey, so that immediately upon arrival it will be possible to submit documents to the cadastral office.
The cost of expert evaluation of real estate in Turkey is about 1500 liras.
Preparation of documents
A real estate company also helps the buyer to prepare the documents.
What will you need to bring to the cadastral office:
- Tax number (vergi Numara), you can get it in just a couple of minutes at Vergi Dairesi
- Passport translated into Turkish and notarized
- Turkish bank account
- 2 photos 3*4
The package of documents, as well as the results of the expert assessment, are submitted to the Cadastral Office – TAPU.
Transfer of ownership rights and payment of real estate
The transfer of ownership to a new owner and, accordingly, the completion of the purchase and sale transaction takes place only in the Cadastral Office.
The seller, buyer, realtor and sworn translator must be present at the transaction.
The presence of the latter is mandatory by law. The translator must be fluent in Turkish and speak the buyer's native language, have a diploma confirming knowledge of languages and a document on taking the oath in a notary office.
A sworn translator is a person criminally responsible. He must translate to the buyer everything that was announced in the Cadastral Office.
By law, the seller must receive the money before the signatures in the documents are signed. Because he confirms that the buyer has no debt to him.
But, as a rule, money is transferred after TAPU registration. This is how buyers are "insured" against possible fraud on the part of the seller.
It is believed that the transaction was completed after the signatures were signed, the money was transferred, and the buyer received the main document of the owner of the property in Turkey – TAPU.
Is it possible to conduct a transaction without the presence of a buyer or seller?
Of course, there is a law in Turkey that allows transactions to be made remotely. To do this, the buyer or seller (who cannot be present in TAPU) must issue a notarized power of attorney.
Basically, the procedure for processing all documents takes several days. And a responsible realtor accompanies the transaction from beginning to end. Maxhomeinvest guarantees full support of the purchase and sale of real estate in Turkey and competent execution of all necessary documents.
