How does a sale works?

[patmore]

Need some urgent advice on how a sale normally works in Turkey. We have a buyer but are being told that they want to transfer title when only 50% is paid and give an agreement to pay the balance by a certain date.

Nervous about this - what happens if they get run over by a bus!!

 

[Veronica]

Under no circumstances should you tranfer title deeds until ALL the money is paid.
I have heard too many stories where deeds are transferred with only 50% being paid then the buyer refuses to pay any more. As the deeds are in their name they own the property and you cannot force them to pay.
This is a well known scam by unscrupulous people to get properties very cheaply then sell them on for a profit.

 

[medseA]

Remember that in turkish real estate there are many transaction methods, to secure any type of sale.

So a basic way to effect this is,

(1) The buyer pays 50% advanced to the seller.
(2) The seller transfers the tapu to the buyer.
(3) The seller puts a 50% lean on the tapu.
(4) The seller lifts the lean after balance paid.

The lean will be a letter, for the amount including the duration date.