After searching for residential or commercial real estate anywhere in the world, and an agreement is reached between the property .

Real estate sale agreement

Date:Monday, September 27, 2021

After searching for residential or commercial real estate anywhere in the world, and an agreement is reached between the property .

Real estate sale agreement

After searching for residential or commercial real estate anywhere in the world, and an agreement is reached between the property owner and the buyer to complete the transaction, a legal contract is signed in order to transfer the ownership of the property and pay its price. A specific cash price. The contract of sale is one of the binding contracts for both parties, and it is a consensual contract as it is not established without the consent of both parties.

What is a property sale agreement?

The real estate sale agreement is a contract organized between the seller of the property and the buyer of the property, according to which the buyer undertakes to pay a specified amount to the seller, in return for obtaining ownership of the property, and in the event that this agreement is not regulated between the parties in accordance with the provisions of the Turkish Civil Code, the Real Estate Records Law, and the Law of Real Estate The Turkish notary public, it will not be valid for use, and will not be valid, for this reason the sales agreement must be signed with the notary public as well.

It is noteworthy that the purchase and sale agreements cannot be used by the buyer to register the property in his name, and it is possible to register at the root in the Directorate of Real Estate Records, by submitting one of the parties to this agreement, provided that the opposite is not mentioned in the agreement.

Steps to buy and own in Turkey

Free survey tours

Organizing free survey tours for the buyer in order to identify the areas and real estate projects during his visit, in addition to consulting and explaining in detail all the real estate components in the city

Extracting the tax number

Obtaining the tax number for the buyer in Turkey - the tax number is a number given to every tourist or foreign resident in Turkey with the aim of facilitating all his official transactions

Opening a bank account

Opening an account for the buyer in a Turkish bank so that the value of the property can be transferred from his country of residence to Turkey later, in addition to translating the passport into Turkish

The most important items of real estate selling real estate

When writing a real estate sale contract between the owner and the buyer, it must include a number of clauses that make it legally and legally acceptable, and these clauses are as follows:

-The day and date of signing the contract.

- The seller’s name as stated in the civil ID and national number, profession and address, the buyer’s name as stated in the civil ID and national number, and the profession and address.

-Clarify the type of agreement, which is the sale of a property.

-Clarify the property specifications, by mentioning the detailed location, area, additions and boundaries in detail.

-Clarify the value of the property and the method and time of payment, such as cash payment or installments and their value, or checks and their times.

-Adding information on permits, licenses, all papers related to plans, building completion certificates, and civil defense certificates.

-Acknowledgment by the buyer that he has personally inspected the property and that he agrees to it as it is.

-Clarify the value of the deposit that was paid when agreeing to sign the contract.

-The seller's declaration that the property is free of any financial entitlements such as fines and mortgages.

-The agreement of the two parties to the contract, in the event of any breach by either party of one of the provisions of this contract, to pay the other party a specified amount, without the need to resort to the judiciary.

-Acknowledgment and agreement between the two parties to the contract on which party the sums of money to be paid in order to complete the sale will result.

-The signature of both parties to the contract at the end with the signature of witnesses.

Real estate sale contract terms

In order to complete the sale contract and consider it legal and legitimate, a number of conditions must be met by both the seller and the buyer, including that the seller and the buyer are among those for whom the contract is valid, such as maturity, reason and lack of foolishness.

-The thing sold is legally permissible.

-The owner of the sale must have full and legal ownership.

-The thing sold must be usable and usable.

-The owner of the thing sold must be able to deliver it to the buyer.

-The sale must be known and specified.

- That the sold item be delivered to the buyer and payment of its price.

Deposit in real estate and other legal matters

Article No. 156/2 of the Turkish Debt Law states that the buying party will not be able to recover the amount of the deposit that it paid to the seller in the event that he withdraws from the purchase, despite the organization of a sale agreement with the notary public; In the event of the opposite, that is, if the seller declines to complete the sale, despite the payment of the deposit, and the arrangement of the agreement with the notary public, the seller in this case must pay an amount equal to twice the deposit he received from the buyer.

In the event that there is a real estate broker between the parties, the commission must be paid to the broker from both parties equally.

In the event of a dispute between the parties, and the court has ruled for one party against another, the party causing the damage must compensate the aggrieved party.

Article 125 of the Turkish Debt Law stipulates that the term of the real estate sale agreement is 10 years, and the agreements that are not regulated by the notary public will be considered as normal agreements, not being considered legally significant.

Things to know for those who want to invest and own real estate in Turkey

- Finding out whether they can obtain the right to own real estate or limited rights in kind.

-Transfer of ownership of the property in accordance with the laws and legislation in force in Turkey.

-The total area of ​​real estate purchased throughout Turkey does not exceed 30 hectares.

- Finding out whether the real estate they want to buy is located within a security or military zone or areas that are prohibited for sale, because real estate located in security zones may not be sold to foreigners.

- Reviewing the Real Estate Department and obtaining sufficient information regarding the property in question, such as whether the property owner has the right to dispose of his property or not, or whether the property in question is mortgaged or subject to any other procedure that prevents its sale.

-Not signing contracts that have legal qualities, as well as not paying any amount as a price for the property, before obtaining sufficient information about the property in question from the directorates of real estate records.

-Not to start a buying and selling transaction Before researching and surveying the persons or companies selling the property, and in the event that the seller’s confidence or seriousness is not proven, it is not recommended to deal with him.

- In the event of any discrepancy in the buying and selling process, the matter must be transferred to the court, where cases are filed in Turkish courts, and the Turkish Ministry of Foreign Affairs or any foreign representation cannot interfere in the course of the invitation.


Related Blogs:

ways to invest money

Investment conditions in Turkey

Who is the real estate advisor? What are the criteria for his selection?

Real estate investment opportunities in Turkey

The importance of investing in Turkey


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