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How Do You Pay for a Property in Turkey if You Have a Real Estate Agent?

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vu8

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Say if you found a good listing on Sahibinden, then go find yourself a buyers agent. 

The buyers agent will take me to the property for a view first right?

If I am satisfied with the property, what happens next? 

How are the payments processed? Is there an escrow account? Do you have to have a TR bank account or you can wire the money using your US bank account?

Do you wire the money directly to the seller's account or you wire it to an escrow? 

What happens if seller does not deliver after the money has been wired?

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I might be wrong but I have never heard of people working in Turkey as buyers' agents'. I do know however that escrow accounts are not used in Turkey. As for wiring the money directly to a seller I would not recommend it. Your only recourse would be to open a court case against the seller and that would be costly and takes years to resolve. 

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Hi Vu8, welcome to Turkey Central. I have sold two houses in Turkey, both a few years ago now.

The Estate agent who was advertising the first property for me guided the buyer through the process and we both signed the contracts at his office, he then came with us to the TAPU (Title Deed) office where we signed over the property and he received his new TAPU. After that we went back to the Estate Agent's office and I received a large bundle of English Pounds.

With the second property the buyer and I were friends so we went to the TAPU office, signed over the property then sat in a convenient wifi cafe outside the office while she used her laptop computer to transfer the money into my account, again the transaction was in English pounds.

Things have been changing in Turkey with a lot more online banking and online government services available now so I'm not up to date on everything. Goreme says she hasn't seen any buyers agents and neither have I down here on the Mediterranean coast. It is possible to buy a house here direct from the owner but there are some formalities to observe so you would be advised to engage a Lawyer or Estate Agent to act for you to make sure there are no outstanding debts on the property and the military clearance for foreigners is carried out.

 

 

Çukurbağlı's blog. Warning - takes you off the forum and into the www.wilderness

 

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  • Ken Grubb changed the title to How Do You Pay for a Property in Turkey if You Have a Real Estate Agent?

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