Sale contract or real estate sale agreement in Turkey
The Turkish government has worked to provide many facilities to foreign investors in the field of real estate, and a foreigner can obtain Turkish citizenship when buying a property in Turkey, which led to strong demand for buying real estate, and among the many facilities that were provided, it is possible for the investor to buy a property while it is under contract Construction, as Turkish law stipulated that a foreigner own a completed property to obtain Turkish citizenship.
If an incomplete property is purchased, the investor concludes a preliminary contract that is not valid if he wants to sell the property, but it is a promise to sell, as the Turkish government prevents the transfer of ownership of any property to the buyer and the completion of its price in full
What is the real estate sale contract in Turkey and how is it organized?
It is a contract concluded between the person buying the property and the seller, which is the buyer’s pledge to pay a certain amount of money to the seller to obtain ownership of the property, and this contract must be certified by the notary to become valid and must be regulated per each of the provisions of the law Turkish Civil Code, Real Estate Records Law, and Turkish Notary Public Law.
The investor should know all the legal requirements of the initial sales contracts, and in the event of any legal problem due to the reason of invalid preliminary contracts, a lawsuit must be initiated as soon as possible.
Matters to consider when writing an agreement to sell a property in Turkey?
Each of the sale prices, the property address, the terms of the agreement, and the information of the parties to the agreement must be clearly stated.
The buyer can pay a deposit to the seller to guarantee the sale process.
If it was agreed to pay part of the amount when signing the contract and pay the rest in installments, this must be clearly stated in the sales agreement with the amount paid and the remaining amount and how it will be paid in terms of the value of the installment and the period of the installments.
When making any amendment to the sales agreement, it must be implemented following the official and regulating procedures for that.
If a preliminary contract is concluded, it must be officially notarized by the notary, where the initial contract must contain a set of information and elements, which in the absence of such information, the initial contract may become weak and not fully guarantee the right of the investor.
The investor must keep a copy of the contract or agreement with all the documents related to the contract.
It is recommended that the payment be made through a bank account in one of Turkey's banks to ensure the reliability of the sale of the property.
Hiring a successful lawyer with extensive experience to help manage transactions, official papers, and legal matters to ensure the buyer's rights.
The buyer can file a complaint against the seller who denies the contract of sale, delays the delivery of the property, or if a contract is signed that violates the legal terms.
Upon filing the lawsuit, the buyer can recover the installments and the amounts that have been paid only, but his right to claim the penalty stipulated in the initial sales contract is forfeited, as it is a void contract.
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