8 Things to Consider Before Buying Property in Turkey
Turkey is an attractive and popular tourist destination with its aesthetically pleasing sites and their huge villas. It has also been one of the cheapest places in terms of the real state. Because of this, more and more foreigners like investing in turkey. They get a great deal in a beautiful place and are a great investment option too. Like every other country, there are some basic rule and tips you should consider before buying a property there.
- See it for Yourself
Turkey is known to be a beautiful country and you can judge that by the pictures alone. There are a lot of instances where people finalize their property deal by looking at pictures. We all know that pictures can be edited, and the true state of a property may not necessarily be the same as shown in the picture. For this reason, it would be smart to personally check out any property that you’re trying to buy. If a property looks amazing on the picture and is cheap, chances are it is not really that amazing.
There are a lot of people who went on holiday to Turkey and came back after purchasing a property. This is because you will find agents in every place. At the local bar to the beach, you will casually find out that your waiter is giving you an amazing deal. Chances are they are fraud agents that would sell you the wrong kind of deal and then go missing. You have to be careful while choosing an agent no matter how tempting deal they offer. Make a thorough background check and make sure you know they have existed for some time and have a good reputation.
Negotiations are a part of real state purchase in turkey. If you find a great deal slightly above your budget, ask your agent to negotiate. A good agent always has a good business relation with owners and knows how to tackle the hassles of negotiation. Negotiations are not just monetary but you can also demand other things like furniture or re-construction according to you, etc. This is also a great way to know that you have an authentic agent.
Most of the people will advise you that lawyers are an extra burden and you can close a deal without one. The agents are well equipped with all knowledge of legal formalities and will be enough. Though it is true that agents are knowledgeable, it is always good to be cautious and hire a lawyer in an unknown destination. A lawyer can be of great help there. They will be able to confirm that your property is legal and has no other issues that might be a problem later on.
If you’re planning to buy a property for commercial use or as an investment, location is a huge factor. Since you’re a buying a property in an unknown land, you would not know the better locations and the advantages or disadvantages they can have. Even while buying a home, location plays an important part. It is advisable to thoroughly research the location where you’re planning to buy. Whether or not it is compatible with your lifestyle and demands. Check out the property for sale in Bodrum.
- Under-construction Plans
If you’re planning to buy a property in a place which is still under construction, you should probably do a background check on the company which has the contract to build the entire place. Some companies do not have the money to build and they wait for the money from people who invest in them. Some company already are very solvent and have the necessary resource to build the place. It is not a pleasant thing to know that your construction is being held off because of an insolvency of the builders.
Turkey is an earthquake-prone country. This means that the buildings have to meet a certain level of requirement while construction to make them safe. The rules are strict regarding this. Before you buy a property in an already constructed place, make sure you know if they comply with the requirements. Even if you’re buying a place in an under-construction plan, you should always make sure that the place is being built keeping the requirements in mind.
- Military Base
Outsiders in Turkey require military permission before they get their ownership confirmed. This is because foreigners are not allowed to purchase property close to the military camp because of security reasons. Make sure you have the permission of the military which earlier used to take a lot of time but you can have it in 3-4 weeks now. You get your title deed only after the confirmation of the military.
Buying a property is always a huge investment. Make sure you research well and know the agreements before signing them.