By. Justin Mays
Real estate scams are not unique to Turkey but all it takes is a few high-profile cases to make foreigners nervous to buy homes in Turkey. Recent headlines involved a real estate company called My Real Home that Turkey’s Banking Regulation and Supervision Agency determined to be part of a Ponzi scheme that was ordered to be dissolved at a great loss to unsuspecting investors. The good news these situations are highly avoidable when you do your research and choose an agency like Prime Property Turkey.
The most important rule, if is too good to be true, then it is. People here are friendly and often want to help so while we are not saying ignore the genuine ones be cautious and work with professionals. If they are offering incomparable bargains, that’s a red flag. The best way to avoid unscrupulous or fraudulent brokers is to do your homework beforehand, get references, and try to get an idea of the local market. Check to see that the people working with you have documentation such as tax numbers, certification and IDs. Feel free to ask questions and do an online search.
Typical scams include selling non-compliant or illegally built buildings using cheaper materials, not following local regulations, selling homes that are not actually for sale and providing false documents. To avoid these scams make sure the property is legal and has a title deed (TAPU), an IMAR which is a building license and a habitation license (ISKAN) that states the property is built within all local policies. Also check to see if the property doesn’t have outstanding debts on it (Ipotek) that you would be liable for if purchased.
To avoid being a victim of conmen hire a lawyer to check over the legal documents to ensure that there is no lien on the property, that the paperwork is legitimate, and the building is not illegally constructed. It is a small temporary cost for your investment in Turkey and will ensure you will be able to sell the property in the future and not mislead you on how to get Turkish citizenship by investment.Why should you work with Prime Property Turkey?
Our team has been well respected in the field for a cumulative of (YEARS/DECADES). Our collective experience and knowledge will help guide you through the process of owning your dream property. We take great pride in providing honest advice to our customers. As established professionals we are proud to represent our clients and find them a special new spot to call home.