Conducting a legal audit of real estate property in Turkey
The basic rule of buying real estate in Turkey is to carefully check all the documents for the property you have chosen: whether the square meters are in pledge, whether the property has been sequestrated, whether the Cadastral Chamber has any questions about this property, who owns the apartments at the time of sale, is there a TAPU and ISKAN (technical passport).
If any documents are not available or seller refused to show them, there is a high probability that something is wrong with the object of sale.
ISKAN is an official document, the presence of which shows that the building can be commissioned and is suitable for living. That is why, it is important to make sure before buying whether the developer has ISKAN. If there is no technical passport, this means that the building has not been commissioned. According to the law, if the developer does not receive ISKAN within 5 years, then his building license is canceled.
Buying real estate from a developer.
If for a buyer buying real estate from a developer is the most acceptable option, it is worth to check developer and the object before transaction, whether there are any encumbrances, debts, collateral and other that may affect the successful result of the construction.
A lawyer who will accompany the transaction will help eliminate the risk of contact with an unscrupulous developer. The professional assistance of a real estate lawyer is the key to protecting your investment.
What documents are required for the sales transaction of real estate in Turkey?
The list of documents that will be required during the procedure for the registration of the acquisition of real estate:
⦁ Certificate of ownership of the property of the former owner (TAPU).
⦁ Identity card or passport of the participants in the transaction.
⦁ Document on independent expert appraisal of real estate.
⦁ Two photos from the buyer
⦁ In the case of transactions with foreigners, a sworn translator is needed.
⦁ If the transaction will be made with a power of attorney drawn up abroad, it is necessary to provide a power of attorney certified by a notary with an apostille stamp, translated into Turkish. The power of attorney must have a photograph.
⦁ In cases the procedure is carried out by a third party, or by an authorized person by the issued power of attorney, the powers relating to the procedure must be specified.
Many foreign buyers, lacking the time and necessary knowledge to prepare all kinds of documents for buying real estate in Turkey, delegate these responsibilities to a real estate lawyer. To do this, a notarized power of attorney is drawn up with the necessary terms of reference to act on behalf of the client, which, in the case of our company, is absolutely safe.