Is it possible to sell a property under construction before the project is completed?
After buying a property under construction, you may have a good opportunity to resell it, and here an important question comes to your mind: Is it possible to sell a property under construction before the project is completed? To know the answer, read this article from Ebla Real Estate.
Real estate under construction in Türkiye:
Many investors want to own a property under construction within a project that has a strategic location and a vital area to achieve high profits. The property under construction in Türkiye is an investment opportunity since you are buying your property at a lower cost and the percentage of profits increases continuously with the rise in real estate prices every year in Türkiye.
Moreover, properties under construction achieve high profits between 50% and 300% upon completion of construction work and receiving house keys.
Furthermore, purchasing a house under construction enables investors to invest in several real estate projects at the same time.
Buying a property under construction in Türkiye by installments:
Foreigners can buy a property under construction in Türkiye by installments There are two ways to buy an apartment in Türkiye in installments, which are:
- The first way is through one of the construction companies, which offers special offers every period. After the agreement with the construction company, you pay the required down payment, which often ranges between 35% and 50% of the total apartment value. Then, you complete the remaining monthly installments. It is worth noting that all the terms agreed upon be included in the sales contract.
- The second one is through a Turkish bank.. The bank first buys the apartment from the construction company, then sells it to you, with a mortgage sign on the apartment, until you complete all the installments.
Irtifak Title Deed:
Irtifak Title Deed is extracted for the property under construction. It determines the complex number, residential building, floor number, and apartment number and its specifications.
After the completion of building, you pay the title deed tax and obtain the new title deed (Tapu). Thus, the property will be in your name.
Is it possible to sell a property under construction before the project is completed?
In the event that you paid in cash and obtained the title deed (Irtifak Title Deed).. You can sell your property freely. However, in the event that you paid in installments.. It will be according to the agreement with the construction company in the “purchase contract” signed between you.
Edited by: Ebla Group Real Estate
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