Real Estate Fraud: Buying an Apartment from an off-plan in Turkey
April 13, 2017
January 27, 2023
The method of buying an apartment on the plan in Turkey is one of the most important investment methods used, which has proven to be very successful in the Turkish real estate market. This is because this method includes a clear increase in the price of the property when it is ready for housing or investment, which guarantees a good profit margin for investors. However, with the benefits of this method of investment, it is considered a relatively high-risk option, as the possibility of exposure to real estate fraud when buying an off-plan apartment in Turkey is great.
Cases of real estate fraud when buying an apartment under construction:
Real estate fraud cases may be represented in the absence of a project under implementation at all, but the most well-known cases of fraud are done by handing over the property, especially the apartments, after they have been equipped, but with completely different specifications than the prior agreement.
When the investor applies to buy an apartment on the plan in Turkey, the company responsible for the real estate must clarify all the specifications and services that will be available upon completion of the project, and an agreement is made based on these specifications. However, in some cases where real estate fraud occurs, an apartment with different specifications and a project is delivered. Mostly incomplete services.
How can real estate fraud be avoided when buying an off-plan apartment?
Before completing the contract for the purchase of an apartment or real estate under construction in Turkey, the buyer must ensure that the following information is available:
- Ensure that the technical conditions paper is present in the sales contract: it is an official paper by the construction company responsible for the property in which the apartment’s finishing specifications are accurately clarified, including the type of floor and tiles, the type of doors, the paint and dyes used, their color and quality, if there will be the use of wallpaper and where to use it, the height of the ceiling, information about water, gas and electricity installations, the type of glass used, the appliances that will be provided in the kitchen upon completion and their number, the type of heating in the apartment, the presence of air conditioning, its type and number, and the services in the complex are clarified, including a swimming pool , gym, warehouse, car park, security services and more.
The authority responsible for the project must give a plan for the floor in which the apartment was purchased, and this plan contains the division of all the apartments on the floor, and a mark is placed identifying the apartment that was purchased with the signature and seal of the selling company, in addition to its signature by the same company manager who signed On the purchase contract, indicating the directions on the plan to know the directions and views of the apartment. And make sure not to receive another apartment from the same floor with a different view or directions that are not agreed upon.
The plan of the apartment itself that was purchased is also attached to the sale contract, where the apartment plan shows the total area of the apartment, the net area, the distribution of rooms and their area, the location and area of the balcony, and other details related to the apartment.
When signing the sales contract, it is necessary to make sure that there is a sworn translator approved by the notary, because the contract will legally be in the Turkish language, and the buyer, especially the foreigner who is not fluent in Turkish, needs to understand all the details in the contract and make sure of its contents and that they are in conformity with the agreement.
If all the previous factors are available, then the buyer can be sure that the construction company will not be able to change any of the specifications of the apartment or the project or replace it with another apartment, because the official papers with him guarantee him a fair trial in the Turkish courts if any manipulation occurs after that.
Turkey Dream Apartment - Kamiran provides projects that are reliable and guaranteed to invest in safely and profitably. Through its specialized team, it provides you with all the necessary legal and real estate advice to ensure that the apartment you will get is the same one that was purchased.