Safety First When Buying Property in Turkey
- Author Trevor Giddings
- Published March 6, 2008
- Word count 767
Buying any property, let alone abroad is a nerve-racking process and buying out of the comfort zone of Europe could seem even more so. But just being in the know can prevent you from blundering in and perhaps making a costly mistake.
Whilst buying my first property in Turkey I suffered many a sleepless night and made a few mistakes that although not terminal, they were a real pain to put right. I learnt a great deal and continued to do so. Now, after 15 years of dealing in property in Turkey I want to make the process as smooth and trouble-free as possible for others. Read on and travel the road to owning your own property in Turkey the painless way.
O.K. If you have got past the first paragraph I suspect you are at least halfway serious about buying in Turkey. Good decision! It’s a beautiful and varied country, ancient and modern, mysterious yet openly friendly, with an amazing coastline of ever changing aspects and views, mountains, forests and of course a season of warm sunshine on the coast from the Aegean to the Mediterranean that can last as long as nine months of the year.
FIRSTLY you must decide WHERE you want to buy, you may have been to Turkey on holiday so probably have decided that location is where you want to be, but please do your research, preferably taking a few trips out to make absolutely sure that your chosen area is perfect for your needs. Is it a retirement idyll or a funky lively place you want, rural retreat or a thriving city? Good for children or adults only?
SECONDLY go to an agent who really knows their onions, and in truth someone that has lived in or knows your chosen location well. The agent should be attached to professional affiliations so you can be sure that they are trustworthy and honest. NAEA and AIPP are two of the associations that are worth while looking for.
BEWARE local agents who have been in business for a short period of time. Less than three years is my benchmark for concern.
BEWARE buying from anyone other than an agent. Asking for trouble. Every waiter, bartender etc has a relative with a property to sell, in truth they are probably on a hefty commission from someone. That someone could be dodgy.
BEWARE high-pressure sales people who offer outstanding viewing trip deals. You are extremely unlikely to see a good choice of properties, only what they want you to see. Also you will never shake them off for the whole trip, they stick like glue. Should you like what you see, and sign on the dotted line in every likelihood you will not be getting a bargain, huge commissions are often factored in to the prices.
Now you have the location you have the agent you have fixed your budget and you are going to view properties, you will see 3 basic types, Off-Plan, New-builds or resales.
Off plan often cost less, but remember that this is the case because you are sharing the risk. Time of completion, whether it gets completed at all and whether it will look like the pictures on the specs is all something of an unknown. ONLY GO TO REPUTABLE COMPANIES that have a track record of quality builds. New properties are easier, because you can see what you are getting. Ditto re-sales, but don’t be afraid to ask these questions.
*Are all the building permissions in place? If so, can you see them?
*Are the properties built to the same size as on the plans? (you can have trouble if not, usually resolved with money)
*Can foreigners buy in this location?
*How is the property built? Foundations, insulation, etc. As a rule of thumb properties less than 5 years old have been subject to more stringent building regulations.
NOW GET AN INDEPENDENT LAWYER
He or she can be Turkish or from the UK, but do not move a muscle without one. They will cost around £800-£1000 and worth every penny. They will have your power of attorney and handle everything for you. Just make sure that any agreement you sign is notarised, this makes it copper bottomed.
Once all this is sorted, you can now relax and be happy in the knowledge that you have bought in the best area for you, the property is well built without any legal issues attached and all you have to do is move in, slap on the sun cream and relax on your terrace with a celebratory glass. You’ll love it!
http://www.ownahomeabroad.co.uk/property/country.asp?country=29
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