Here Is What To Look Out For When Foreigner Sells A Home In Turkey
HOW DO YOU GET MONEY ON A HOME SALE? HERE'S WHAT TO LOOK OUT FOR WHEN SELLING YOUR TURKISH HOME
Do you know what to look out for when you have to sell the house you own in Turkey? Although a 100% safe method has not been found yet, we will try to explain some important points about what you need to do getting your payment.
If you want to sell the Turkish holiday house you bought by investing all your savings, you have to determine how to act in advance. There are some steps you need to take to do this. Here's what these important steps are in our news.
WHAT TO PAY ATTENTION TO WHEN SELLING YOUR HOME
Some of the things that need to be done before the agreement with the foreigner buyer are as follows:
- Determine the true value of your home in Turkey
- Make sure your home is eligible for a mortgage loan
- Remove if you have a Turkish bank mortgage or other mortgage on the Tapu of your home
- Post sales from location in TurkishClassified.com
- If you are going to sell through Turkey real estate agent, read the prepared contract very carefully
- Evaluate the buyer's conditions first instead of showing your home to the buyer immediately
- Clearly state positive or negative aspects about your home in Turkey
- Some of the things you need to do after agreeing with the buyer are as follows:
- Complete and sign all the terms agreed on the sale in writing
- If there is a rental tenant in your house, be sure to inform the tenant of the sales situation
- Make sure your home doesn't owe Turkish property tax
- Make sure the House has mandatory earthquake insurance DASK
- Give notice to the Tapu over the actual resale value of the House
- Calculate the Turkey gain tax on the increase in value after the sale of the House
- Choose money transfer methods to receive the sale price
- Remove all sales ads you have given after the sale process of your house
- Cancel your subscriptions such as electricity, water, natural gas
- Move your residence to your new address in Turkey and inform the (Belediye) municipality of the sale in Turkey
HOW SHOULD MONEY BE TAKEN WHEN SELLING A HOME IN TURKEY?
The most perturbed of the sellers in the Tapu Kadastro and Land Registry sales transactions is the payment of the money in full. Having sufficient information in advance against all types of fraud will protect you against any negative consequences.
Here's what needs to be done about it:
- Do not accept payment in cash as much as possible. Because the money given may be incomplete or fake, there may also be a security vulnerability when it takes time to deposit this cash into the bank in Turkey.
- If money transfers are to be made between accounts, warn the buyer of the transfer upper limit.
- Although it is not known, there is often an automatic upper limit on online money transfers. For example, online transactions can be defined as a maximum transfer of TL 15 thousand in the same day.
- Ask for a small amount (deposit) to be sent for confirmation of your account before the money transfer is made.
- While sending money to the wrong Turkish bank account is not a frequent mistake in money transfer transactions, there is this kind of risk.
- You can also choose the blocked Bank check or commitment method from the bank instead of the money transfer.
- The blocked check method is done by depositing all the money into the account and taking a check from the bank for a certain fee. In this method, the money in the account remains blocked for a certain period of time (such as a week), and the check holder can collect the money without the account holder. In this case, the blocked check is given to the seller by the buyer during the sale and the transaction is completed.
- Another method similar to a blocked check is the signing of a commitment to pay the money to the seller in the event of a sale by the buyer at the bank. This method is usually applied in case of Turkey Home Sale Loan use.