Preliminary contracts for the sale of real estate in Turkey

Preliminary contracts for the sale of real estate in Turkey are the contracts that real estate companies conclude as a type of preliminary contract for sale, which obliges both the buyer and seller to a set of clauses, and it is a promise to sell so that the seller commits to providing the property to the buyer in the future to get its full price.

Preliminary contracts for the sale of real estate in Turkey

There are a lot of foreigners in Turkey and they buy real estate, which makes companies work on concluding initial contracts, but they are not complete as they are not suitable for selling real estate in the future.

 It is necessary that this contract be completed after paying the price in full, because Turkish law prevents Turkish citizens from transferring ownership of real estate to foreigners except after paying the price of the property.

Reasons to buy unfinished real estate

There are many reasons why buyers buy unfinished real estate in Turkey from real estate companies, and the most important of these reasons are:

  • Incomplete properties have lower prices compared to completed properties, which saves them a lot of money.
  •  Many foreigners accept to obtain Turkish citizenship, so they resort to buying unfinished properties that are suitable for them at a price.

The most important tips for individuals who buy unfinished real estate in Turkey

When individuals are exposed to writing initial contracts in Turkey for real estate, they must read these tips, the most important of which are:

  • Initial contracts need a process of documentation in the form of a formal contract at a notary in order for individuals to guarantee their rights in this contract.
  •  Because the notary public ratifies these contracts.
  •  Individuals who do not ratify the contracts have their contracts at the Notre, they are considered void contracts.
  •  It does not enable them to formally guarantee their rights.
  •  It is necessary for the buyer to keep a copy of this contract, and with him a copy of all the documents related to it in order to guarantee his right.
  •  The process of paying the remaining amounts of money must be done through bank accounts in anticipation of any kind of disputes.

The procedures that the buyer must follow when writing the initial contracts

If foreigners purchase real estate contracts with initial contracts, these legal conditions must be followed:

  • When the seller denies the buyer's right to obtain the contract due to a breach of the obligation to pay the remainder of the property price.
  •  The buyer has to file a complaint against the seller in the Turkish courts.
  •  The Turkish courts resolve the dispute between them by restoring each of them their right.
  •  The buyer gets his money back, and the seller gets the property back.
  •  Or the contract is completed by the buyer paying the rest of the property price so that the first contract is not void.

Real estate investment in Turkey

Real estate investment is considered one of the safe types of investment because it provides many advantages to investors. The most important information about this investment is:

  • Foreigners can buy or build real estate in Turkey and enjoy obtaining a Turkish passport.
  •  Foreigners can obtain Turkish citizenship when they purchase a property worth 250 thousand dollars.
  •  Life in Turkey is simple and easy, and people can get regular income there.
  •  Foreigners in Turkey feel the new political stability and security despite all the events taking place at the global level.
  •  Individuals can link investments, and they can expand the projects they own inside Turkey without any kind of problems or obstacles.
  •  Turkey is one of the tourist countries that many foreigners benefit from when entering and working in it.
  •  Turkey opens its doors to all students who accept science and study, so do not differentiate between them and Turkish students.
  •  The life of individuals in Turkey is similar to the life of Arabs in terms of culture, customs, traditions, and others.
  •  Life in Turkey does not cost a lot of money in terms of services, food and drink, all at reasonable prices.

Advantages of buying a property in Turkey

Real estate investment is one of the most important economic aspects that support Turkey's economy, so we find that it provides investment for foreigners so that it can flourish its economy. The most important advantages of buying real estate in Turkey are:

  • Low taxes, as Turkey imposes few taxes on foreigners who own real estate in order to facilitate the procedures and laws that help Turkey revive its economy and real estate markets.
  •  When individuals buy real estate worth 250 thousand Turkish dollars, which helps them to obtain Turkish citizenship, .
  • This is not only related to the father, but all family members who are eighteen years old can obtain Turkish citizenship.
  •  Turkey enjoys a high standard of living, and low prices.
  •  Turkey real estate is considered one of the cheapest real estate on the European continent.
  •  Turkey's climate is moderate and contains many tourist cities that attract tourists to it.
  •  ROI is a profitable thing in Turkey, especially when the summer season comes.
  •  People who do business make a lot of money.
  •  Turkey combines a conservative and recreational environment, as it is considered one of the Islamic countries that provides a lot of safety to foreigners.
  • Turkey enjoys economic and political stability which makes it a safe place for foreign investors.
  •  The climate in Turkey is moderate throughout the year.

What does the initial contract for the sale of real estate in Turkey stipulate

When foreigners agree to buy a property in Turkey, the most important steps that are taken are:

  • Writing a preliminary contract between the owner of the property and the buyer.
  •  This contract must include many things, as this contract, which is called the initial contract.
  •  It is an agreement between the two parties that the buyer will buy this property at the price to be agreed upon within a specific period of time.
  •  This contract must stipulate the price agreed upon by the two parties by mutual consent, in addition to the time period specified by the two parties for the property owner to obtain the remaining funds from its price.
  •  That this contract guarantees the buyer's right not to dispose of this property until after it becomes his exclusive possession.
  •  In most matters, this first contract is written between the two parties and documented by a notary who reviews all the documents related to this property.
  •  And he writes down all the rights that both parties are bound by this contract.
  •  The notary public, during documenting the contract, states the date on which the buyer will pay the owner of the property in full.
  •  It is necessary for the buyer to insist that this initial contract be signed by both parties at a notary public.
  •  Because this is a guarantee of his right, and the contract that is not signed becomes invalid.
  •  It may expose its owner to a lot of legal accountability.
  •  In addition, he may lose the money he paid to purchase this property.

Consequences of the initial contracts for the sale of real estate in Turkey

 The initial contracts made the purchase of real estate a guaranteed thing in Turkey, as individuals are not exposed to fraud or fraud, but rather these operations may be exposed to the buyer when he buys real estate in other countries.

 Or when he does not write the first contract and notarize it with a notary, so all individuals who love real estate investment in Turkey must be informed of real estate prices so that they can buy real estate that suits them at the appropriate economic value.

 And that individuals fulfill the ban during the writing of the first contract by specifying all the matters necessary to guarantee their rights.

In this article, we talked about the initial contracts for the sale of real estate in Turkey, many details about these contracts, such as the reasons for concluding them, the advice that individuals follow during their writing, and the importance of these contracts.