Market news

Real estate in Turkey. Be careful, fraud is possible!

24.12.2008

Dear citizens! On the issue of buying real estate in Turkey refer to the professional of the  market, to the agencies that have solid experience in this area and the reliable reputation.

In the process of selling Turkish real estate to foreigners there may be problems in obtaining TAPU. Fraudsters use the necessity of approbation of the transaction by the Military Administration of Turkey (MAT). MOT consider real estate, which will become the subject of a sale contract, where as a buyer stands a foreign citizen to find this property for military and strategic areas of Turkey. This procedure takes from 3 to 6 months. Fraudsters use this period to re-sell real estate.

Recently, another victim of fraudsters has become couple Robshaw from England. They made the entire amount before receiving TAPU. Fraudsters have recieved money an
safely escaped. The couple was shocked when they find out that the land they bought had been resold. Thus, they lost their ten-year savings of $ 70 000 YTL (New Turkish Lira).

President of the Chamber of Didim Realtors Sevim Kyulekchi believes that it is necessary to amend the procedure for acquiring the Turkish real estate by foreigners. Thus Turkey's Military Administration must openly define the territory where it will be possible to sell the Turkish real estate to foreigners and to convey this information to General Cadastral Office of Turkey. This amendment will allow receiving approbation from Millitary Administration of Turkey within one day.

News was edited by "VESTA Estate".
vestaestate.com

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