Is buying under construction property in Turkey safe?
Investing in under-construction property in Turkey can be an attractive option for many buyers, offering the opportunity to have a property at a lower price and guaranteed profits. However, is buying under construction property in Turkey safe? This is what we will talk about in this article from Ebla Real Estate.
How do I make sure that buying a property under construction in Turkey is safe?
The project construction company must have a good reputation:
One of the most critical factors in ensuring the safety of your investment in an under-construction property is the reputation of the construction company. Research the company’s history, previous projects, and client reviews. A well-established and reputable construction company is more likely to adhere to high construction standards, timelines, and deliver quality properties.
Ensuring construction continuity:
To make sure that buying a property under construction in Turkey is safe, it is also essential to verify that the construction project has the necessary permits and approvals from local authorities. Additionally, inquire about the project’s funding and whether the construction company has secured the required finances to complete the project. Adequate funding is crucial to prevent delays and ensure the project’s completion.
Ensuring the delivery of the property on the agreed date and specified specifications:
Before committing to an under-construction property, carefully review the sales contract. Ensure that it clearly specifies the completion date and the agreed-upon specifications for the property. A reputable developer will provide a realistic timeline for project completion and adhere to the agreed-upon specifications.
It is worth noting that there is a delay period allowed for the delivery of the property, which is 6 months.. As a precautionary period in the event that something out of control occurs.
After the expiration of this period, if the project is not delivered.. The penal terms documented in the contract will apply, which are in the client’s favor.
Selecting a project at an advanced stage:
While it’s possible to purchase property at various stages of construction, choosing a project that is already at an advanced stage can mitigate risks. You can physically inspect the property, assess the quality of work, and get a better idea of the final product. This minimizes uncertainties associated with purchasing properties in very early stages of construction.
Dealing with a reliable real estate consultant:
To make sure that buying a property under construction in Turkey is safe, it is also better to deal with a trusted real estate consultant or agent, which is invaluable when buying under-construction property in Turkey. A reputable consultant can guide you through the process. They also help you select projects with a strong track record, and assist with contract negotiations. They can also provide insights into local regulations and market conditions.
In conclusion, buying under-construction property in Turkey can be a safe and rewarding investment if approached with caution and diligence. To ensure the safety of your investment, research the construction company’s reputation, verify permits and funding, review the sales contract, opt for projects at advanced stages, and engage a reliable real estate consultant. By taking these steps, you can minimize risks and enjoy the benefits of owning a property in this beautiful and dynamic country.
Remember that dealing with a reliable real estate company such as Ebla Group is the key to a secure investment in under-construction properties in Turkey.
Edited by: Ebla Group Real Estate
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