This is how investors in Turkish real estate are defrauded
Last Updated: 2023-07-27This is how investors in Turkish real estate are defrauded
Although Turkey is a safe market for foreign investors, and this market has attracted foreign investments estimated at $ 220 billion, there are some cases of fraud that have victimized many Arab investors , and so that you are not one of these victims
Read this article and you will find in it:
The cheap price in Turkish real estate is one of the ways of real estate fraud
Return on investment or fraud
Tapu trap in real estate fraud
Signs that can warn you of possible real estate fraud
Tips for every investor in Turkish real estate
Price your property is a service launched by anchor to avoid real estate fraud attempts
The cheap price in Turkish real estate is one of the ways of real estate fraud
On social networks, apartments are always offered, either large and with a distinctive view or in an area close to the center and at a very attractive price, for example, "Apartment for sale in Bahcesehir 2+1 for only 15 thousand US dollars
, all these illogical ads are considered a trap to attract the customer, these ads explain several ways of fraud.
- The advertisement is false and there is no apartment at this price and the purpose is to bring the investor to inspect other properties
- There is an apartment actually with the same specifications, and the investor is required to pay an "advance" and after payment, the investor is told that the apartment has legal problems and he must choose another property or he must waive the first advance.
- There is an apartment with the same specifications as in the advertisement and after signing the contract, the investor discovers that he signed to buy an apartment other than the one he inspected.
Return on investment or fraud
Real estate offers are full of what generates many tricks and lies, whether in the offer itself or in its application or manipulation of its terms, in this paragraph we will talk about fraud through return on investment
What is the return on investment
Return on investment is a measurement tool used to assess the efficiency of investment, or to compare the efficiency of a certain number of investments, this tool measures the return on a particular investment compared to the cost of the investment itself, which is a common measure due to the ease of obtaining results, and basically the return on investment is used as a primary measure to know the profitability of the investment One of the methods of
real estate fraud is to play on the chord of the huge return on investment, in this way the broker tries The investor occupies the value of the return on investment, but in exchange for raising the price of the property from its real value.
The title deed trap in real estate fraud
In Turkey, there are several types of title deeds that you must pay attention to, differentiate between them, and know the features of each of them, so that the investor does not fall into the nets of fraudsters
- First: The
difference between the floor easement deed and the floor title deed
The full title deed is granted to the property buyer upon the completion of the sale process in full legally and practically and it has been officially registered in the name of the buyer, and many details are mentioned in it such as the property number in Turkey, and on which floor the apartment is located, how many rooms of the house, and the details of the residential apartment are complete without decrease, while the floor easement is a sign placed on the title deed , which refers to properties under construction and has not finished construction, and aims to indicate the shares of all shareholders in the land in the event of quotas, from the beginning of construction to housing.
This type of bond is exposed to legal risks if the advanced real estate company is notorious, in the event that the construction is not completed in the form approved by the municipality, the easement deed cannot be converted into a complete title deed, there are many residential properties in Turkey that do not match the approved form and therefore are exposed to many risks that sometimes reach demolition, sometimes these bonds are another way for real estate fraud in some cases.
- The Second:
difference between the blue title deed and the red title deed
The blue title deed or agricultural title deed, this color of title deed is given to those who buy agricultural land, or wish to breed certain types of animals on it
. Take the whole floor or half of it, and the third part of the bond in which the information of the bond is written, such as its number in the register at the state, the date of its registration and the date of its issuance...
Red title deed or many of the fraud cases that investors have committed were through the purchase of real estate with a blue title in order to build apartments and commercial offices.
Signals that can alert you to the possibility of real estate fraud
When you start a Turkish operation, you must be aware of all the small details that occur during this process, because it is possible for any detail to give you a signal that you are a victim of real estate fraud, and through these signals you can distinguish the real estate fraudster:
- The price of the property is lower than its real price
- Refusal to inspect the property from the advertiser
- Claiming that the landlord is outside the country
- Urgency to request a material advance, whether small or large
- Real estate agent is not officially authorized to work
Tips for every investor in Turkish real estate
- Insisting on inspecting and inspecting the property in every detail
- Not to give in to claims to pay material advances before being sure that everything is legal
- Not to sign any contract between you and the seller before inspecting the property
- Verify the identity of the person you are dealing with
- Make sure that the real estate agent is officially authorized to work
- Keep your personal information and do not give it to anyone, including personal documents, bank information, and your financial means.
- Search for properties for sale by trusted real estate companies
The price of your property is a service launched by an anchor to avoid real estate fraud attempts
After the spread of what is known as real estate fraud in Turkey, and to protect the investor from fraud methods, and to exploit his lack of knowledge of the secrets and laws of the Turkish real estate market, Mersa Real Estate Company launched the "Your Property Price for Free" service, from today the investor can communicate with Mersa Real Estate and will get from our specialized team to evaluate the property legally and financially.
Editorial Mersat Real Estate Team ©
Real estate Articles
Real estate News
