(Newswire.net — January 30, 2020) — Buying properties or real estate in today’s market is considered a rewarding investment. Many countries now are allowing offshore ownership and living. This is attracting massive interest from property owners around the world. Turkey is one such place where real estate is cheap and treated as a significant investment.
This country is really hospitable with its rich culture and a low-cost easy-going lifestyle. If all this fulfills one’s list of requirements for buying a property, here are eight steps for purchasing a property in Turkey.
Step 1 – Analyze the market
Turkey has a flourishing real estate market. The cost of properties is comparatively cheaper, and so is the price of living. Along with this, there is a massive market with a lot of land for sale. This can create a lot of confusion for the buyer as it looks like a profitable and easy investing opportunity.
However, a lot of agents will tell different things according to their needs. To help with all the chaos and difficulty, tolerance-homes.com is here. They have more than 17 years of experience in the business and offices in Turkey, Iran, and South Africa. Attentive and honest service information about various regions of Turkey will be provided.
Step 2 – Select a good and compatible property agent
While buying any property, getting the right agent is of utmost importance. Understanding these agents and making sure they know the buyer’s needs is vital. So, before settling on an agent, one must explain what they need and expect. Agencies that have been in the business for a long time have competent, trained, and trusted agents.
However, if they are pitching a mugged up script instead of giving user-specific solutions, they are not the best choice. The relationship between an agent and a buyer must be transparent. Buying property in Turkey is not only a choice of living but more about lifestyle for most people. So, the agent must understand the buyer’s needs and thought process.
Step 3 – Take a tour of Turkey and investigate the properties
Investing in a property without even knowing or seeing about the place is not a wise decision. Hence, in order to purchase property in Turkey, one must first see and understand the country. If living here is one’s plan, then investigating the area to check for its surroundings, environment, culture, and cuisine is really important.
After making up the mind on buying a property, one special inspection trip is also necessary. In this trip, one must see all the properties in the vicinity, sort out paperwork, and understand the local lifestyle. This trip must be of at least four days and should cover all the mandatory procedure before proceeding to buy the property.
Step 4 – Don’t buy the first place you see, know about all the various options
Haste can be one of the worst things to do while investing in real estate. This is a rewarding business that can turn a huge profit and a satisfying lifestyle if done carefully. However, if done with urgency and incautiously, it can become one of the worst decisions financially.
Hence, check all the options carefully and then select the most suitable one. By visiting a large number of properties, one gets the idea of the market and understands what is their best choice financially. Buying a property is a huge decision, so make that choice sensibly.
Step 5 – Haggling and negotiating is part of business
Paying more for a property than its worth or knowing one could have saved a considerable amount is often disheartening. This is why having the right agent is essential. The property can be an investment, a living decision, or even a retirement plan. In any case, making sure one can negotiate the price according to their needs is the job of the agency.
They will help in procuring the asset for the lowest price possible. However, there are some incidental costs that come with property acquisition in Turkey. Even though it is cheaper when compared to Spain, France, or Italy, budgeting is to be done with the same care and seriousness.
Step 6 – Book the property in order to suspend its price
The worst experience can be when the price of a place goes up after you’ve set your mind to it. This is a common occurrence in the real estate business. Moreover, sometimes the prices become so high that they go out of the budget, which results in breaking down the deal.
In order to avoid this problem, a lot of agents book or reserve the property by taking a minimal fee. This helps in reserving the plot under one’s name and holds up the price. This will help the procedure to advance smoothly without the worry of the cost going up.
Step 7 – Getting an attorney
Just like property agents are critical during investing in property, so are attorneys. The job of an attorney is to make sure that the process is going with ease, and the buyer is safe.
In Turkey, giving the power of attorney to a solicitor allows them to finish the deal on the buyer’s behalf. This saves time and eliminates the need for buyer’s presence during the purchase.
Step 8 – The title deed or TAPU
TAPU is the name used for the title deed in Turkey. Getting the TAPU registered is the final step of concluding the purchase process.
The title deed is attained when all the paperwork from both the buyer and seller side is completed, including various contractual requirements. The TAPU is to be thoroughly checked by the attorney to make sure its legitimacy and appropriation.
Takeaway: Buying a property in Turkey can be a really profitable and rewarding experience. However, this is only possible if one follows all the steps carefully and sensibly. Turkey is a vast country with an expansion in the business of property investing. Its modest lifestyle and low property prices are the reason behind its popularity in the real estate market.