Buying a resale property in Turkey: what to check when you buy from an owner

Not every good property is new. Many of the best locations in Trabzon and Istanbul were built years ago, and a resale property can be an excellent deal. But it calls for a sharper eye than a new one.

Why resale?

1. Location: established neighbourhoods close to amenities.
2. Price: usually lower than a comparable new property.
3. Transparency: you see the property, the neighbours and the building management as they are.
4. Speed: you can move in or rent it out straight away.

What to check

The building

• The year of the building permit and the building’s safety. See the guide to earthquake safety.
• Damp, insulation and the roof. See the guide to winter and heating.
• Installations: electrics, plumbing and heating. See the heating systems guide.

The papers

• The title deed and encumbrances. See the guide to mortgages, liens and annotations.
• The iskan (occupancy certificate). See the iskan guide.
• Unlicensed alterations: an enclosed balcony, a removed wall or an added floor.
• Urban transformation: is the building classified as at risk? See the urban transformation guide.

Debts

• Unpaid aidat (monthly maintenance fees). See the aidat guide.
• Property tax.
• Utility bills.

A sitting tenant

• The contract binds you: you buy the property with its rental contract.
• Personal need: the law allows you to end the contract if you need the property for yourself or your family, by notifying the tenant in writing within one month of the purchase and filing a lawsuit after six months, subject to conditions.
• Read the contract: the rent, the term, the annual increase and the deposit paid.

Negotiation

• Price: compare with recent similar sales and rely on the valuation report. See the valuation report guide.
• Furniture: what stays and what goes, in a written list. See the guide to furnishing a flat.
• Tapu (title deed) fees: how they are split between the parties. See the declared value guide.
• Handover date: especially if the seller lives in the flat.

Handover

1. Final meter readings, with photos.
2. The seller closes their utility accounts. See the utilities guide for new owners.
3. All keys and access cards.
4. A statement from the building management that there are no debts.

In short

A resale property can give you the best location at the best price, if you check the building, the papers and the debts, understand the tenant’s position, and put every agreement in writing. To compare with a new build, read the guide to ready or off-plan.

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