Do you want to buy a property in Turkey, but do not know all the nuances associated with the acquisition and installments? What will happen after the mandatory payments are made and how will the buyer get ownership? In fact, these are some of the most common questions that inexperienced buyers have. In this article we will try to tell you all the subtleties of buying a home in Turkey.
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Conditions for obtaining installments in Turkey
The conclusion of an installment agreement with developers in Turkey is an absolutely common phenomenon, a greater number of real estate transactions are executed in this way. However, it is worth bearing in mind that there are conditions that can vary dramatically depending on the region.
For example, in Istanbul, there are more flexible installment terms, so the cost of an apartment can be paid for 4-5 years, at the same time in Alanya, developers draw up contracts for a maximum of 1-2 years.
A nice bonus will be discounts provided by developers to buyers who initially contribute 50% or more of the cost of housing.
At the stage of agreement approval, the buyer can use a flexible payment schedule, which is calculated individually for each client. These are monthly or quarterly payments. Sometimes buyers can make payments every six months.
Is it safe to trust Turkish developers?
According to the law, only licensed developers in Turkey have the right to sell real estate, in addition, only licensed agents can provide any real estate services. Today, the real estate sector in Turkey is strictly regulated, based on this, persons who have not passed the necessary certification do not have the right to provide their services.
It is very important to check the availability of licenses and certificates before starting any transaction. Today, the risks in the Turkish housing market are minimized, but this will not cancel the need to check how conscientious an agent or developer is.
Postponement or freezing of construction
In any contract, the deadlines for the delivery of the object and the date of completion of all construction works are clearly regulated. As a rule, cases with a serious delay in construction in Turkey are rare, this is due to the fact that companies are interested in the timely commissioning of real estate.
Changing important aspects of the project
Any construction requires the approval of the plan, which is necessarily coordinated at the state level, accordingly, the developer does not have the right to make changes after the approval of the project. Turkish developers are obliged to create infrastructure next to the residential complex.
Assistance in buying real estate in Turkey
Turk.Estate will always help you find your dream apartment. The site presents hundreds of unique offers. You can contact the manager of the company for detailed advice on how to buy or sell real estate in Turkey.
