In the last 6 years there has been a significant increase in home sales to foreign buyers. It is clear that granting citizenship rights with the new law has a great impact.
Foreign buyers can own real estate such as housing, business, land, field and all kinds of immovable properties. However, if they buy land or farm, they should submit the project to the approval of the relevant ministry within two years.
What is the official process waiting for you when buying housing...
When buying a house, the official process is carried out with the house-sellers/buyers if no representative has been appointed.
These steps can be completed easily by giving power of attorney to a representative.
In case of disruption at any stage of official processes, the sale of the house becomes problematic for both the buyer and the seller.
For this reason, trading must be carried out in accordance with legal requirements.
When purchasing housing, the formal process is as follows;
- Identity certificate, photo should be provided.
- A document indicating that this is provided on legal basis if there is representation during the transaction.
- The certificate issued according to the rules of the property declaration value must be presented.
- The title deed of the main subject of the sale must be submitted to the authorities.
- Title fees.
- Expenses described as additional surcharges are also required.
- If it is necessary, they need to be necessary controls of inheritance tax payment.
Each one of these details must be fully fulfilled. Otherwise, there may be disruptions in the purchase and sale of housing.
When buying a house, the sales contract is one of the most important points in the official process.
Some of the information that should be included in the sales contract are as follows;
- City, county, map, island and parcel number
- The addresses of the buyer and seller, ID numbers and contact information
- The seller agrees to sell the apartment how much many including the annual with holding
- In the finalization process of the sale, the amount requested and received from the buyer as down payment has to be included in the contract. In this way, the basic calculation can be made easily with respect to how much the total amount should be paid.
- The necessary information regarding how much of the sales price will be paid in installments or cash.
- If they would like to cancel the agreement, the conditions should be mentioned on the contract clearly that they need to do.
It is also advisable to take advises from professional persons in order to complete this process and contract.
It is always a more reliable method to be in cooperation with real estate agents.
It should also be noted that any deficiency or misrepresentation in the sales contract can be presented as a reason for rejection.
The penalty has to be mentioned on the contract who would like to give up before then the specified date on the contract.
In this way, there will be no any unspecified point on the agreement.
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