How To Buy Real Estate In Turkey: 8 Tips For Foreigners

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Are you thinking about leading the Mediterranean lifestyle but on a budget?

Well, it could seem like a long-lost dream, but it is possible. Turkey is home to many houses and apartments that are perfect for your taste and, ofcourse, your budget. The properties are relatively cheap here; frankly, as a foreign buyer, you stand an excellent chance to bag what’s in store.

The journey can seem long as you won’t be well-equipped with the rules and regulations; hence, it is suggested to opt for experienced realtors who will help streamline the process with the least pitfalls.

Turkish Market Past Features

The tourism industry is an uprising in Turkey, and the widescale promotion welcomes all sorts of investors and spectators. The property sale was at their peak from 2002 to 2007. Buying the property off-plan was a significant power that convinced foreign investors back then. However, such things led to the rise of many tragic stories too.

The situation was going downhill as there was no understanding of risk at that stage. Instead of trusting the builders who can go bust, you should think of reaching out to an experienced and trusted agent that can help you. You can visit this site and find professionals that can make the Turkish real estate dealing process easy and trustworthy for you.

Buying real estate in Turkey can be a fun, productive, and learning process. Here are 8 tips that can help you enhance the process for your benefit.

#1- Research The Market Conditions

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The expansion of the Turkish market is alluring; hundreds of thousands of properties are available for sale and purchase. Real estate agents have been in the game for a long time and have qualitative advice pieces that can ensure a good property buying experience. You should communicate with agents. Please research your part and let them take the lead in the rest of the cases. The process will be easy, and they can help you with the legal and technical needs.

#2 – Building The Rapport

As a foreigner, developing trust and letting people around you develop their trust in you will take time. There are many circumstances. Some shall be favorable, while others won’t develop the way you want them to. Hence, you should ensure proper communication and discussion to help build your rapport. Conversations can be formal and informal. Both you and your agent should know specific details about each other. It will help build the proper rapport that will act as the incharge of faith and motivation. These things are essential when property and money matters are involved.

#3 – Inspection Trips

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When you plan to buy a property in turkey, you need to decide if you want to go to the city’s outskirts or in the middle. However, merely deciding the location will not help you sail through. Pictures are deceptive; hence, you should not make the payment until you visit the place and are satisfied with what meets the eye. It would help if you understood that it is not the property you are investing in but added factors like the lifestyle provided by a place, the location, and the surroundings you plan to be a part of. Hence, a trip to inspect the place is essential. Also, you can ask the dealer to help you take a round around the potential properties to make a qualitative decision.

#4 – Exploring Your Options

The initial talks on the phone or exchange of photos are not enough to help you decide on the final bid. You should know the options based on your taste and budget. Buying a property in Turkey under the sun should not be a random decision. It should be backed with valid reasons and research. The factor is essential to deciding to invest in Turkish property.

#5 – Estate Reservations

The reservation process are incomplete without negotiations. Even if you buy a place in Turkey as a retirement plan or want to convert it into a long investment, you should see the prices and study the market for any future prediction of increase or decrease. As consultants, your dealers will represent you and try to secure the most profitable deal. You should be vigilant in the whole process and reserve the property whenever you see a good chance of reduced pricing. However, if the rate is slightly high but will work as a long-term investment, you should not miss out on your chance.

#6 – Freezing The Property Price

Reserving the price of the property deal is the real game changer. These are non-refundable amounts and should be timely deposited with the seller as a deposit for the reservation of a property. However, if you think that you will have to pay the total amount of the property after paying this amount, you should know that this amount works as token money. The amount you pay is deducted from the price you have agreed to pay for the selected property. However, you will lose this money if you reserve a property and decide not to buy it later.

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#7 – Legal Formalities

The conclusion of the purchase is incomplete without the legal formalities. You need an attorney to officiate the deal; after this step, you will be eligible to become the actual owner of the property. You need to choose your attorney and grant them the power to officiate the legal part of the deal on your behalf. You can talk to the local population to hire a trusted source. If you don’t know anyone, you can reach out to your real estate agent, as they might have some potential contacts.

#8 – Title Deed

You should do a final check on the property. It will help you keep a note of the necessary factors like the title and municipality check. Military clearance is not an issue after 2019. If everything is okay with you, you can move forward with a heads-up for the title deed. The registration will be under your name, and you will be entitled to get the title deed.

Conclusion

Hoping that these tips secure your dream property investment in Turkey. So, try them out and extract the most out of them.

Happy buying!

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