What should you pay attention to when registering a property in Türkiye?
The first step in buying a home is the land registry. The Land Registry legally proves that the house is yours. Municipalities and all government institutions only accept that the apartment is yours if you have the title deed. You cannot become a homeowner without obtaining the Land Registry. So, what should you pay attention to when registering a property, and what might happen if you don't pay attention?
What licenses and procedures must be checked in Türkiye?
From start to finish, licenses and procedures taken through the municipality's construction department and the various phases of the project must be in place. Contractors must obtain a permit to build. After the construction process is completed, a general and individual housing license must be obtained. If there is no housing permit, the Land Registry cannot be issued.
Make sure the house for sale is not mortgaged by the bank due to contractor debt. If there is a landlord trying to sell a foreclosed home, they may be trying to scam you. Check the home's previous tax debts and whether there are any illegal building applications.
- Construction status and housing license
- Size of land and house
- Durability condition of the house
- The calculated value of the property
- The sales contract and the seller’s reason for selling the property
- Subscriptions and tax bills for the home
What should you pay attention to when buying a new home in Türkiye?
Everyone who wants to be a new homeowner wants to buy a brand new home. But new homes are sold at very high prices because contractors or engineers want to make profits from the construction process. So, what should you pay attention to when buying a new home and what should you look for?
What should you pay attention to when buying a used house in Türkiye?
Buying a home directly from the owner is riskier than buying a new home, because you need to inspect the home thoroughly. New homes are new in terms of project and all licenses and permits are ready. But a used home may be much older. What should you pay attention to when buying a used home?
What is the condition of the old building structure in Türkiye?
Buying a used home means getting a home that has previously been used, and is usually cheaper than a new home. But the reason behind these cheapness may be that the house is in danger of collapsing. Make sure the home is not at risk for earthquakes or other maintenance problems. Therefore, it is advisable to have the home inspected by an expert.
What problems may you face in the real estate registry in Türkiye?
Check if the home is from a real estate agent or directly from the owner. Don't forget to check the owner's ownership history. Recently, many contractors make mistakes in building outside the allocated lands, and if you buy a house with such problems, you may face problems with the municipality.
How do you evaluate the value of a house in Türkiye?
With rising inflation, it can be seen that house prices are rising rapidly. Some real estate agents and owners may try to sell homes at higher than usual prices. To avoid being scammed, evaluate the home's value. In general, the value of a used home is evaluated by comparing it with a similar apartment. If the comparable homes are similar but the prices are too high, you may be about to overpay.
Is it better to get a housing loan or a need loan in Türkiye?
The need for housing is a common need for everyone. We all want to have our own home. But owning a home is not easy. Due to the continuous increase in property prices and income level, the first option that comes to mind is to take out a loan. Banks provide home loans to give people the money they need. People can use these loans to buy the homes of their dreams and then repay the loan to the bank monthly.
What is the difference between a housing loan and a need loan in Türkiye?
A need loan is a type of loan that is taken out for a variety of reasons and is repaid in the short term. A lien loan is typically used for smaller expenses compared to a home. Therefore, the repayment period is short. For example, it is used for education costs, home furnishings, and vacations. If you want to buy a home, you should do so using a home loan or long-term mortgage. Home loans typically have a repayment term of 60-120 months, which reduces your monthly payments.
How is the housing loan calculated in Türkiye?
Banks calculate a home loan based on your credit score. If we assume that we need 300,000 liras, and that the house we want to buy is 500,000 liras. Banks look at the income ratio, calculate the bank interest rate and provide you with a home loan of 200,000 liras. You will be given a repayment period of 60 or 120 months, which means you will repay a portion of your monthly salary to the bank over 5 to 10 years.
Does it make sense to buy a house using a loan in Türkiye?
Obtaining a mortgage is a preferred method for those who want to buy a home, because saving takes a long time. It takes many years of saving for a middle-income person to buy a home. But with a loan, you can get the money all at once and use it to buy the house. However, given current interest rates, it may not make sense to buy a home with a loan.
Does a loan to buy a car make sense in Türkiye?
Like buying a house, buying a car is one of our basic needs. There are two options for buying a car: buy a new or used car. New cars often have high taxes, requiring short loan repayments. The maximum repayment period for a car loan is 48 months, so purchasing a new car with the loan carries significant risks.
But if you choose a used car, the repayment percentage will be lower because used cars are usually cheaper. You can also use the emergency loan to purchase a used car, as it offers a repayment period of up to 36 months. As for the question of whether a car loan makes sense, it depends on the changing market for cars. If your car doesn't increase in value by the end of the loan term, you may not get any profit from the sale. But you will get the car you need.
What should you know when canceling a house purchase contract in Türkiye?
When you buy a house, you need to sign some mandatory contracts. However, citizens have the right to withdraw from these contracts. Citizens can return the homes they purchased within 14 days. If more than 14 days have passed, they still have the right to withdraw but with a penalty.
What are the rights to cancel a real estate purchase contract and what are their conditions in Türkiye?
Citizens have the right to withdraw from the contract within 14 days without providing any justifications. After 14 days, they still have the right to withdraw but must pay a penalty proportional to the period of time that has passed since the contract was signed.
What to do if the previous owner does not move out of the house you bought in Türkiye?
A common complaint that comes up when buying a home is that the previous owner refused to move out. What should you do in this case?
How to deal with the problem of the previous owner not leaving the house that you bought legally in Türkiye?
If the previous owner is still in the house after the purchase and registration process is complete, legal action must be taken to evict them. These procedures differ from those relating to the eviction of tenants, because they are not based on a tenancy relationship. You can submit an eviction request based on Law No. 3091, which aims to protect security and public order.
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