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Old 30th July 2018, 12:46   #31 (permalink)
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Re: How to avoid a property scam in Turkey

Quote:
Originally Posted by Michael Hanley View Post
Yeah you can do all that but it will not stop a property developer raising a mortgage at the bank against a property which you have paid for while you are waiting for your Tapu. This is the biggest crookery that goes on and has left hundreds if not thousands of people losing their properties. Bankruptcy usually follows. Best advice about buying Turkish property - don't !!!
I know Michael you know the score, the problem is that once people are committed & a buyers/sellers monies start moving about, you're on the ferries wheel as opposed to controlling it.
People can advise people what to do BUT in many cases in Turkey two plus two struggles to make four.
I know lawyers who will not have a "holding account" for deposits, simply because it shows what business they're doing ie tax.

100k property, 10% deposit goes to who? And thats the start of it, the punter is 10k light straightaway. How many have given the deposit to the agent?
Knowing what I know now (a) I wouldn't buy off plan on a complex (b) I wouldn't give a deposit over (c) if I did think of building a villa off plan, I would only do so if the land was in my own name from the off.

Turkey is a buyers market, if the property you're after sells before the deal is done.............then look for another.

Sadly its all water under the bridge for some, if not many. Courts have the attitude of, "why did you do that, this is not how property is purchased in Turkey". Deadly to try & think that purchasing in Turkey is the same as the UK.........its nothing like it, nor are the safety nets out there the same as the UK.
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