Buyer Information

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Other Important Points When Buying A Property

Overdue Real Estate Tax Debts

It is very important to check whether the current owner of the property owes any overdue Real Estate Tax to the tax authorities. Current regulations state that the new owner is also liable for overdue real estate tax debts, therefore, you are strongly advised to insert a special clause in the Sale Contract to avoid any undesirable situations which may arise. It is also a good idea to ask the vendor to provide you with copies of all tax receipts issued by the tax authorities.

Overdue debts for utility services

You are advised to ensure that a special clause stating that the vendor will be responsible for all utility bills incurred up to the date of sale, is inserted into the sale agreement .

Current Tenants

If there is currently a tenant in the property you intend buy, you are advised to check the tenancy agreement. In some cases it will also be necessary to speak to the tenant. It is important to check that the vendor has given the tenant notice to quit and that the dates stated in the Sale Contract and the Notice correspond.

Double Checking the Registry Records

When you are offered a property, you should compare the Title Deeds and other documentation provided by the vendor with the records held by the local Title Deeds Registry Office. You should also check the Title Deeds belonging to the vendor to ascertain:

• That  the actual address of the property and the address shown on the Title Deeds are the same

• That there are no special clauses in the Title Deeds which prevent the transfer of ownership due to a long-term debt owed to a bank.

• Whether there is more than one owner (if so, ensure that all joint-owners agree with the sale)

Building Approval

In accordance with current legislation, all buildings must conform with official policy on construction and earthquake-proofing, therefore you should verify that the property has been built in line with these regulations. You should ask the vendor to provide you with the Use of Building Permit (Yapi Kullanim Izni in Turkish) issued by the local authorities.

Buildings under construction

If you intend to buy a building which is still under construction, make sure that the contractor is financially viable. You are advised to insert special clauses regarding the date of completion, a list of the materials to be used, indemnities and so on,  into your contract with the building contractor.

Construction of a building on land