Potential Problems During Property Ownership in Turkey
Real estate has always been one of the most important investment portfolios which guarantees the fulfilment of the investor’s goals as long as he is accurate in his choices.
The lack of accuracy and professionalism and caution during Buying a property in Turkey, usually generates some issues that the foreign customer might fall in because of the language factor and the lack of experience.
In today’s article from Europ Homes Real Estate we will talk about some issues that foreign investor might encounter in Turkey in the event that they make an unframed investment process and without reliable accompaniment.
aware of the most important traditional issues that might encounter them during the ownership journy in Turkey, which gives them the ability to avoid before falling to it either for dereliction or omission.
Article details
- Real estate issues related to setting goals.
- Real estate issues related to purchasing steps.
- Real estate issues related to property management.
Real estate issues related to setting goals:
One of the main problems that the foreign customer suffers during the purchase of a property that they do not set a clear plan before ownership, as they are unable to know the purpose of the purchase nor how to reach it.
Wrong choice is a natural result of inexperience that not every investor should have!
Other problems that could be a result of inexperience are:
- Inability to identify suitable location, size, type of property and its view.
- Financial issues related to the unavailability of the budget allocated to the property.
- Exaggerated prices from the seller’s side.
- Low prices because of issues in the property.
- Purchasing properties that has demolition notices.
- Purchasing properties with mortgage or debt.
- Purchasing properties from bankrupt construction companies.
- Purchasing properties from construction companies with bad reputation in the market.
Wrong choice is a wrong investment, instead of generating profit to the customer, it bleeds their budget with extra expenses to fix the problems that they might encounter.
Therefore, you have to be careful of mistakes you have the ability to avoid easily.
Keep reading the article to the end to get to know the best way to avoid falling in the ownership problems in Turkey.
Real estate issues related to purchasing steps.
In addition to the unsuccessful choice, the customer might fall to other problems related to the purchase steps, since it’s not easy to do a successful negotiation and acquire the desired property easily.
Some of the problems that the foreign investor might encounter during the purchase of a property:
- Legal errors in the purchase contract that may cause problems later.
- Not understanding some terms of the purchase contract.
- Not having a clear agreement in terms of the date and the currency of the money transfer of the property.
- Issues in the title deed or ownership contract, like delivery delays or mistakes in the property’s information entry or the personal information of the owner.
- Inability to legally examine the documents of the ownership of the property or due to the absence of a Turkish language factor.
- Having issues during paying the property’s installments in case of a purchase in installments.
- Unfamiliarity with the process of opening a bank account and how to write the description of the transfer of funds to the seller.
- Existence of technical defects in the property, as a result of not paying attention to them in advance.
- Existence of technical defects in the property, as a result of not paying attention to them in advance.
Real estate issues related to property management.
Most foreign investors in Turkey prefers to purchase real estate with investment purposes, at this stage many issues might prevent a profitable investment in case of not having a clear property management plan.
Some of the potential issues during property management in Turkey:
- Issues with furnishing the property with appropriate decoration and at the right time.
- Inability to find the right tenant for the property.
- Issues in following up the property rental process and tenant requests.
- Issues in late payment of dues fees, monthly bills and various fees.
- Maintenance issues and fixing defects in the property.
- Issues in following up on the residential permit process andTurkish Citizenship Law.
- Issues related to resell, making contracts and negotiations about the right investor that will generate profits for the client.
So, what is the solution?
In case you have purchased a property in Turkey we advise you to take the correct path of ownership that relies on hiring the right experts in the field.
Most foreign investors who have avoided the ownership issues in Turkey, have done the investment process through trusted real estate agents.
Therefore, one of the most important tasks of the investor before approaching the purchase process is to ask about a trusted real estate agent.
Experts at Europ Homes Real Estate always advise the clients to head to company agents instead of individuals because trusted companies have specialized teams that can follow up on each process and stage during ownership.
Real estate companies are popular in Turkey, but the very best of them should be looked for carefully through deep research of the quality of services provided and through past client’s reviews.
Before choosing a real estate company to guide you through before, during, and after the purchase, contact them first and get to know how experienced and professional their employees are.
Europ Homes Real Estate with its experts, opens the doors for communication to get to know the quality of the services provided to Services to accompany you in achieving correct and successful real estate investment in Turkey.
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