10 potential risks to avoid before buying property in Turkey
If you're thinking about purchasing property in Turkey, there are a variety of considerations you need to remember to make sure you prevent any possible risks in the property-purchase process. Many people have been ignorant of the hazards involved with this process, so you can take these tips.
10 Useful Advice for Who Would Like to Buy Property in Turkey
Everyone who wants to buy a property in Turkey should not lose sight of several points to ensure that he does not make mistakes without his attention.
Here are ten ( 10) helpful tips for someone who wants to purchase property in Turkey!
- Make a Deal with Professional and Reliable Real Estate Company
One of the most significant risks that may face a foreign investor wishing to buy apartments for sale in Turkey is dealing with an unreliable real estate company.
The most important thing, first of all, is to make sure you know the organization and the people you work with.
Lots of people come to Turkey and find someone with a friend who expects to sell an apartment for a very reasonable price.
The most important role of a real estate agent will be to help their clients escape potential pitfalls.
Therefore, the investor must visit the company's headquarters and get to know its employees and services closely and the manner of its dealings if it is professional.
But the first thing you need to do is locate a reliable real estate firm that you can trust. You can google it for your quest. The standard of the real estate website is the first indicator of the company's level of competence. That's a good start for you. Even before any future orders, you should check the business and see if anybody has any unfavorable feedback.
If you find a reputable real estate firm, you can contact them and make sense of the purchasing process.
Professional real estate companies must still be courteous and address all questions directly.
Most skilled real estate agents, particularly those in tourist cities, should
have at least one member of staff who can speak English fluently.
Alhuda Real Estate Investment provides foreign investors wishing to buy apartments for sale in Turkey with high-quality services from the investor's first call with the customer service team to the end of selling services and property management.
Alhuda Real Estate Investment in Turkey is distinguished because it includes a team of the most professional real estate experts who speak foreign languages: Turkish, Arabic, English, French, Persian, and Urdu.
Alhuda also has strong relations with various Turkish construction companies and real estate project owners, which makes them benefit from record discounts and discounts, especially in many seasons, and the possibility of negotiating the prices of buying real estate in Turkey instead of the customer.
- Request Inspection Tours
After selecting some properties you are interested in, you can send a request email to the firm.
It's essential to know the area and determine if it's the right place for you.
The real estate company is responsible for organizing a real estate tour to visit all real estate projects chosen by the investor. A sales specialist in the real estate company accompanies the investor wishing to buy real estate in Turkey and describes the advantages of the projects.
You can schedule your trip at this stage if the company offers you cheap accommodation and a day or two property viewing tour.
- Save Your Money
One of the common mistakes and risks that a foreign investor falls into is spending extra money that he could have saved.
By not working with a real estate company, some individuals believe they can save money, and it can end up costing them a lot more.
For example, as the Buyer, you have no realistic means of interpreting the property's accurate market value. It is not regulated in the same way it is, for example, in the UK and Turkey.
This may take the investor a long journey in the path of research and inquiry, which burdens a lot and may make them sometimes back down from the idea of ownership, in addition to the risks of exposure to fraud by some brokers.
From here, we conclude that the real estate agent or company plays an essential role in a safe and reliable ownership process with fewer expenses and effort.
So, with the professional real estate agents, you can avoid the long and stressful journey of buying a property in Turkey.
- Get a Lawyer Support
If you don't work with a reputable estate agent, many problems can go wrong. Another thing you can do is seek advice from your independent lawyer.
To not fall into any legal loophole, you must communicate with a lawyer specialized in Turkish law.
Alhuda Real Estate Investment Lawyers in Turkey provide foreign investors with this protection at a high level, from free legal advice to follow-ups of the purchase contract and the signing of the Tabu, in addition to all procedures for obtaining Turkish citizenship if the foreign investor wants to apply for the acquisition of citizenship in exchange for buying a property worth 250 thousand US dollars or more.
- Clarify Payment
If the foreign investor uses a reliable lawyer while buying real estate in Turkey, he will ensure that all the seller’s information, i.e., the property owner, is fully verified.
In addition to this, the investor must ask about everything before depositing any money, especially regarding returns in case it is a residential complex, as prices are relatively high and about maintenance fees if the property is simple residential.
- Buying Off-Plan Property
Buying off-plan properties abroad is another potentially major pitfall.
The tendency of foreigners to buy off-plan properties has become modest due to saving the process of large amounts of money and the low price of the property on the plan compared to the property under construction and with the ready property.
However, what is unknown to many is that such projects have a high probability of not being completed due to their almost total dependence on the payments of the investors who have purchased, which may prevent the project's completion.
Alhuda Real Estate Investment in Turkey advises everyone who will buy a property in Turkey in this way to the necessity of a fair reading of the penalties and compensation if the seller fails to deliver the project within its deadlines or the construction company fails to fulfill its promises.
- Make Sure Whole Buying Property Process
Through his lawyer, the foreign investor must review all the terms of the purchase and sale contract with the necessity to write its clause in detail, especially concerning payment and its installments if available.
The contract must also be clear regarding the penalties imposed if any party does not comply with the obligations of the process of buying a property in Turkey: "delivery, payment, deposit, etc."
Alhuda reminds its valued customers regarding this point to be entirely cautious and cautious and avoid the risk of paying additional sums much more considerable than what was agreed upon between the two parties to the purchase.
- Obtain permission from the military authorities
Before foreigners purchase a property in Turkey, it is necessary to obtain authorization from the region's military authorities.
It is a critical point that the foreign investor must obtain before the property's final ownership. It took between 3 months to a year to get it after applying to Ankara's headquarters in the past. However, there has been a change in the system recently and it is now done locally.
- Inquire about potential profit return
This advice is essential for foreigners who want to recover capital in a few years, and also achieve high-profit returns, so they must inquire about the potential investment returns from purchasing the property.
Usually, profit returns depend on the property's nature, the region, services, facilities, and other features.
- Pay attention to the rules of inheritance
Alhuda advises clients to consult the lawyer regarding the inheritance rules in force in Turkey. They may completely differ on the home country's inheritance rules for the next purchase of apartments for sale in Turkey.
Here, it is preferable for the owner to, together with his lawyer, draft his will in advance, in the event of an accident or death, and thus ensure the property inheritance to the person he chose.
Based on the previous advice, we conclude that Turkey's process of real estate investment or buying apartments for sale in Turkey is not without risks. You can avoid all risks related to real estate by smart steps. Simultaneously, its professional team of experts takes care of the rest of the steps with all skills to ensure the most successful real estate investment for investors Foreigners, according to the criteria requested by each investor separately.