What to Look for When Buying a House in Turkey?

When buying a house, it is necessary to sift it finely and weave it often. The house is a large investment, and if due care is not taken in the process of buying and selling, problems may arise for both the buyer and the owner of the property. Someone who is thinking about buying a house should pay attention to the following items.

Do a Research

Those who intend to be involved in public housing projects when buying an apartment should conduct a detailed survey of the company that owns the project. At this point, it may be useful to examine the projects in the company’s portfolio.

If it is a new company, the references of this company should be checked separately. Companies that have received many bad comments or been the subject of lawsuits should be avoided.

Find Out the Earthquake Risk Level of the Area Where the House Is Located

According to the newly issued laws, areas that are considered at risk of earthquakes are subject to urban transformation. If the purchased house is in a risky area, it can be demolished by the municipality. In addition, buying a house in a risky area will not be the right investment for the future, and there is a danger to life in a possible earthquake.

Beware of Foreclosures and Mortgages

This issue interests all potential buyers. Whether you are buying a house from a zero project or you are looking for a house that is already on sale, it is necessary to investigate the issue of foreclosures and mortgages. Because there may be serious problems due to the mortgage that is on the house. As an example, an apartment with a mortgage on it can be resold due to the debts of the contractor. This, in turn, will most likely lead to a legal process that will take a long time.

Check the House

It is an important detail for buyers and advertisers to meet inside the house to be sold. In this way, possible problems are avoided and every detail related to the house is talked about. Those who are considering buying a house that is still under construction should study every detail of the project. Attention should also be paid to the issue of delivery dates. In addition, companies that do not have sufficient references should be approached cautiously.

In Order to Withdraw a Loan, the House Must Be Eligible for a Loan

Those who are considering taking out a mortgage loan should first compare the interest rates of banks. Interest rates may vary from bank to bank and depending on the credit rating. In order to get a mortgage loan, it is also an important point that the purchased house is eligible for a mortgage loan. Therefore, it is necessary to give preference to residential buildings with a condominium title deed. Banks may not provide loans for floor easement title deeds or shared title types. Therefore, before buying, attention should be paid to the title deed to the house.

According to land registry legislation, foreign citizens can purchase houses, businesses, land plots, and lands within the borders of Turkey. However, foreigners are required to comply with legal restrictions during the purchase process.

Limits on Foreigners Buying Real Estate in Turkey

It is possible for foreigners to buy real estate in Turkey. But the purchase is subject to various conditions. The regulation on this issue is contained in article 35 of the Land Registry Law No. 2644. The limits for foreigners participating in the regulation of the law to receive real estate in Turkey can be listed as follows:

• There is a limitation for citizens of the country who can buy real estate from Turkey. If the person who is going to buy is a natural person, his citizenship must be in the citizenship allowed by the President.
• In order for foreigners to purchase real estate in Turkey, the total area of real estate purchased should not exceed 10% of the area of the district subject to private ownership.
• The purchase of the real estate by natural persons is limited to 30 hectares per person throughout the country. However, in some cases, this limit may be extended to 60 hectares. The President has the authority to make this expansion.
• Legal entities other than commercial firms cannot invest in real estate in Turkey. Commercial companies can make this investment after they submit their projects related to the real estate they want to buy. If the immovable property purchased in this way is used outside the purpose of the project after that, the liquidation of the immovable property is carried out by the relevant Ministry.
• Foreigners are not allowed to acquire real estate in military forbidden zones and security zones. Foreigners cannot buy or rent real estate in these areas.
• In addition to these limitations, the President has the right to impose extra restrictions, limitations. The President may impose restrictions not specified above to the extent required by the interests of the country. This limitation can also be in the form of a complete ban.

It is very important to act in accordance with the limitations set out above. A purchase contrary to the restriction will not be valid. It is necessary to seek help from a lawyer to conduct transactions taking into account the restrictions during the purchase.

What Foreigners Should Pay Attention to When Buying Real Estate in Turkey

The conditions for foreigners to buy a house in Turkey are quite important and there are some basic issues that need to be considered in this process.

• The first thing a foreigner should pay attention to when buying a house in Turkey is whether there is a situation that will prevent the house from being sold, such as a mortgage or foreclosure. The purchase of a house with a mortgage or foreclosure on it can lead to large rights losses. Information on this issue can be accessed from the General Directorate of Land Registry Cadastre.
• The reliability of this company is very important if it is going to perform transactions with a brokerage firm when buying a foreign house. Legal advice should definitely be obtained from a lawyer in this regard.
• The zoning status of the house to be purchased should be questioned.
• The authority of the owner of the house to be purchased and the person selling it should be checked. Attention should be paid to the issue of conducting these operations with a forged power of attorney.
• If there is a dispute in the process of obtaining real estate, a lawsuit should be filed in the Turkish courts to resolve the dispute.
• Sales promise contracts executed only in the presence of a notary are not sufficient for sales. Official transactions must be carried out in accordance with the necessary procedures in the land registry offices.
• Foreigners do not need to have a residence permit to purchase real estate in Turkey.
• After a foreigner applies for real estate in Turkey, this application may result in a rejection. In this case, the person can apply for an appeal to the Regional Directorate of the Land Registry Office to which the Land Registry Office is attached.