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Old 6th December 2017, 10:23   #1 (permalink)
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Selling mortgaged property in Gulluk

Hi,
I am selling a property in Gulluk & have received an offer from a Turkish buyer that I accepted. The property is mortgaged. All seemed wonderful until it came to the payment stage. The agent then informed me that I had to clear the mortgage before we could proceed. Bit of a spanner in the works!
Is this normal or is there a way to sell & clear the mortgage from the proceeds as in the UK.
I hope someone can steer me in the right direction, many thanks in advance.
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Old 6th December 2017, 13:12   #2 (permalink)
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Re: Selling mortgaged property in Gulluk

Go back to the lender and ask them for a settlement figure and the protocol.
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Old 6th December 2017, 13:33   #3 (permalink)
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Re: Selling mortgaged property in Gulluk

Of course the debt has to be cleared, that debt will be noted in the Tapu Office. No way will the "lender" allow the sale of that property without them getting their money first.

Simply solved if your buyer pays the debt & gives you the remainder. Better still get the "remainder" in your hands first.
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Old 6th December 2017, 13:39   #4 (permalink)
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Re: Selling mortgaged property in Gulluk

When we bought a second hand car it was the same. We went to the bank, paid off the loan (having explained all this to the noter first), and handed over the balance of cash at the noter and had the sale registered. Good luck with the sale, let us know how it went.
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