In Turkey, you can buy real estate in installments. And this can be done not only by citizens of the country, but also by foreigners who buy housing. And this is a very convenient practice, especially in light of the fact that now foreigners cannot buy real estate with a mortgage. Although in fact, buying a home in installments has many more advantages than buying it with a mortgage.
As a rule, in Turkey, it is offered to buy property in installments at the construction stage. Almost all builders have this option. But in some cases, you can buy an apartment in a new building on such conditions. Installment is a payment that is divided into several parts. First, the initial payment is paid and then the rest of the amount is paid. Usually payments are made monthly, in equal installments. The great advantage of the installment plan is that no interest is paid. That is, you pay the cost of the apartment without additional interest burden. Also, in some cases, payments are quarterly or even tied to certain stages of construction. All this is discussed individually with the developer and the option that suits the seller of real estate and the buyer is determined.
It is very important to carefully draw up and study the contract, which specifies all the nuances of payments. The contract must have a payment schedule, the amount of payments, penalties for violators of the contract, provided for both parties. Also, the cost of housing, which is fixed, must be spelled out. The contract must be drawn up not only in Turkish, but also translated into the native language of the buyer. The procedure for buying housing on an interest-free installment plan An object is selected. An agreement is reached on the price and payments. An agreement is being drawn up. An initial payment is paid (it can be from 20 to 70%. Most often it is 30-40% of the value of the object). Payments are made (money is transferred to the seller's account in lira, or cash is given with mandatory confirmation of payments). TAPU is issued. Here, too, there are nuances. Usually the document is issued after the full repayment of the installment plan. But TAPU can also be issued when the bulk of the money has been paid. At the same time, an encumbrance is imposed on him, so that the owner will not be able to sell or otherwise dispose of his property until he fully pays off. After full payment, the encumbrance is removed.
Features of buying a home in installments To draw up a contract of sale, you only need a passport. Installments are usually given for a period of 1 to 3 years. No guarantors or proof of income required. There is a possibility of early repayment without fines and other sanctions. Buying property in Turkey in installments is very profitable and reliable. In Turkey, developers are controlled by the state, so there is no question of a house being long-term or unfinished. With such a settlement procedure, you can not worry about inflationary risks, the amount in the contract will not change, no matter what happens. Moreover, this way of buying allows you to save a lot. The cost of real estate is constantly growing, but this does not apply to those who buy housing in installments. No matter how the developer raises the prices for apartments in the constructed facility, for those who bought apartments in installments at the construction stage, the cost will not change. Our company will help you buy property in Turkey in installments on the most favorable terms for you. We work with many developers and we will definitely select an option that suits you. We will help you draw up a contract, help you draw up a TAPU. Contact us and you will be able to become a happy owner of your "house by the sea" right now, even without having the entire purchase amount on hand!
