One of the main problems that you may encounter when buying a property in Turkey (real estate fraud) is a dangerous problem, but at the same time it is easy to avoid falling into it, so we chose to devote the following article in order to highlight its most prominent forms, as well as other details will be discussed.
Table of Contents
- How can real estate fraud happen?
- 1- By raising the price of the property:
- 2- False identity of the owner of the property:
- 3- Follow unofficial parties:
- 4- On the pretext that the property is suitable for obtaining Turkish citizenship:
- 5- Convincing the customer of the existence of a property on the plan:
- 6- The many promises of big profits:
- Precautions you must take to be away from real estate fraud
- Advantages of buying real estate in Turkey with the help of the experts of Level Immigration Real Estate Company
How can real estate fraud happen?
There are many forms of real estate fraud in Turkey, which you can see as follows:
1- By raising the price of the property:
It is a traditional method of fraud and fraud, especially if you have little knowledge of real estate and its related matters, and in the event that you doubt the matter, you must stop the property purchase process until you are completely sure of the matter through people with knowledge and experience and make some comparisons with similar properties in the same area, and compare It is carried out through the element of space, view, location, services, internal specifications, and the age of the property.
2- False identity of the owner of the property:
This method of real estate fraud is very dangerous, so someone introduces himself as the owner of the property and presents you with official papers indicating what he claims, so he sells the property to you as his own, and you discover late that you have fallen into the trap of fraud when the real owner of the property appears, but this problem is as much as However, the solution is available, which is to request the opinion of a real estate company with experience in the field of real estate investment, which in turn will verify the papers whether they are correct or not, as these companies have a specialized legal team that has the ability to disclose such matters.
3- Follow unofficial parties:
The means through which you can buy the property are many, including websites specialized in real estate marketing, but here you should be careful not to deal with an unreliable or unofficial party, and therefore you will have paid the money in the wrong place.
4- On the pretext that the property is suitable for obtaining Turkish citizenship:
The property that is the means to obtain Turkish citizenship must have a price of at least 400,000 US dollars, and therefore it is likely that a suitable property for sale will be announced for it. Otherwise, you may discover the matter late and you will not be able to back down.
5- Convincing the customer of the existence of a property on the plan:
When you want to buy a real estate in Turkey by this means, you must choose a reliable company because if you sign with a company other than that, you may fall into the trap of real estate fraud, which will be easy here, but if you are forced to buy a property off the plan, you should not pay the full price of the property directly, as it should You write everything that was agreed upon in the sales contract, and thus you have guaranteed part of your right, and among the safest planned properties are those belonging to the Turkish government or under another name (projects guaranteed by the Turkish government).
6- The many promises of big profits:
There are some entities that offer real estate for sale with a guarantee of huge investment returns, whether through sale or through rent, and it is an effective type in the real estate fraud process, as the customer is optimistic about false promises, and in order to be able to avoid falling into this situation, you must study the situation of the region in terms of investment Well, is it, as was said, that its profits are guaranteed, or is it something else?
Precautions you must take to be away from real estate fraud
1- In the event that you discover something wrong with the property or a part that did not satisfy you, you must ask the company or the entity from which you purchased the property to fix the problem.
2- In the event that the property is on the plan, the assistance of an engineer specialized in this field must be sought, because he will make statements between what is stipulated in the plan and what is being implemented on the ground.
3 - Another way to avoid real estate fraud is to do your own research and tours. This means that you should look at the property yourself before making an offer and you should also hire a lawyer to look at the contract before signing anything.
4 - Be wary of an opportunity that seems too good to be true, if an agent or developer is offering a property at an unusually low price, beware, it is possible that they are trying to offload a problem property or one that has been on the market for a long time without success.
5 - Do not pay any money up front until you have had the opportunity to see the property yourself and have it inspected by a qualified professional and once you have decided to go ahead with the purchase.
6 - This contract must be signed by both the seller and the buyer, and be sure to keep a copy of this contract for your own records.
7 - If something isn't right, get a second opinion from a trusted source, this could be a lawyer, friend, or even another real estate agent.
8 - Be sure to check the address of the property before buying it, and this will ensure that there are no debts or privileges due on the property, such as mortgage or seizure, that lead to a decline in the value of the property and its investment status, and it will be difficult to sell it in the future when you want to do so.
The existence of the idea of real estate fraud is a reality, but it is possible to avoid it, especially after we have known all the ways in which fraud can take place and the means to avoid it.
Advantages of buying real estate in Turkey with the help of the experts of Level Immigration Real Estate Company
We have a wide range of properties available, from apartments and villas to land and commercial properties and no matter your budget or requirements, we can help you find the perfect property.
We can provide you with expert guidance throughout the entire property buying process in Turkey, from start to finish.
We offer competitive fees for our services, so you can be confident that you're getting great value for your money when you work with us.
We have a wide network of contacts in the Turkish real estate market, so we can help you find the best deals for you.