Finally buyers can now rely on simple guidance on buying procedures used by
locals. Thus avoiding the numerous pitfalls and disastrous outcomes that occur
when foreign buyers of property in Turkey are mislead by English speaking estate
agents, and their glossy websites.
Regrettably, these same misleading procedures are also often followed by lawyers
and mortgage brokers to which the agents introduce their foreign buyers. In this
way many, many foreign buyers have completed a purchase without realising the
procedures they have followed would never be accepted by local Turkish buyers.
For good reason, too, most often because the misleading procedures of agents are
designed to minimise the buyers negotiating leverage on price discounts, and
conceal key deficiencies in title, the most common being the lack of habitation
certificates. Eventually the foreign buyers learn about the true market prices, and
the lack of permits, and in both cases, the cost of following English speaking agents’
buying procedures adds up to several thousand Pounds, Dollars or Euros.
Now thankfully, ‘The Guide to Buying Property in Turkey - Like a Local ‘ describes
‘what’ the differences in procedure are, the local way, and ‘why’ it is so important
to avoid following English speaking agents’ insistence and manipulations to obtain
a ‘reservation deposit’. Ten pages of detail are a must read for anyone and everyone
buying a property in Turkey.
A property purchase is a substantial investment, and a buyer that informs themselves
fully at the beginning of the procedure, has made the right first step protecting that
investment, ensuring a favourable outcome at the end. Too often buyers are mesmer-
ised by the many wonderful lifestyle attractions of great food, beautiful natural sur-
roundings, joyous social atmosphere, warm sunny climate, and cheap property with
ample proportions. And these are the circumstances, in which a buyer is tempted
into ignoring the essential procedural details of ‘how’ to buy, which is exactly what
agents are relying upon.
The ‘what’ and ‘why’ of buying are fully explained in the ten pages of the guide,
conveying more than 30 years of insights into managing more than 3,000 property
purchase transactions for foreign buyers in Turkey. Unfortunately, what the Guide
can not do in the ten pages provided is to explain ‘HOW’ to do what is needed. For
the very simple reason that ten pages is simply insufficient to address the very wide
range of tactics and deceptions, applied by agents and their collaborators in law
offices and mortgage banks, for manipulating the trusting, unsuspecting foreign
buyer. If a buyer isn’t hooked by the first trick an agent uses, the buyer will be
hooked by another, of the many in the agent’s proverbial bag of tricks. No amount
of advance reading and research can adequately guard against this outcome, for the
simple reason that buyers can not know what questions to ask, or what to instruct,
because they do not know what to expect of the situation, and most often only have
only the advice of agents and their collaborating lawyers and mortgage brokers to
consider. So many permutations and variations in the non-standardised nature of
Turkish property permits, title liens and claims, and payment procedures, means
that having done one, two, or three transactions, is not enough to obtain a satisfact-
ory awareness of everything that needs understanding, in the myriad of circumstan-
ces that can unfold for each different property transaction. Despite agents’ earnest
assurances to the contrary... (!!!).
Fortunately, the ‘how’ is best obtained from advice available from independent
professionals. These transaction managers perform an essential function & service,
scrutinising and directing all aspects of a purchase transaction, and are paid by
astute buyers to look after their best interests, in the detail required. This is often
not the case with lawyers and their conflicted interests, with the agents and develop-
ers that introduced the buyer, being their first allegiance. The temptation of huge
hidden price mark-ups and commissions is simply irresistable, like 'Gold Rush Fever'.
The legal reality is that consumer protection laws in Turkey are weak, and real
estate transactions for foreigners are un-regulated. That means that legal recourse
is limited, and costly. So with some optimism, looking forward to the future will
always be brighter when the needlessly predatory practices of English speaking
estate agents are eradicated from the market. Hopefully, 'The Guide…’ will help that
to happen soon....