5 caveats to consider when buying a property under construction in Turkey

5 caveats to consider when buying a property under construction in Turkey

Before proceeding to buy a property for investment, we must pay attention and caution and take a set of measures before the purchase process. Here are the most important tips and precautions:

1- Investigate the project and the strength of its construction and the executing company, and ensure the soundness of its legal status to ensure that there are no loopholes when purchasing the property or any damage to it, through the consulting companies that recommend the real estate developer, where the developer must be experienced and financially solvent, which can You see it as a huge bank deposit.

2- Beware of the excessive delay in handing over the property, as this delay is considered a fraud, and the violation of the terms of delivery of the property and the conditions of specifications and finishes is also considered a fraud.

3- Caution when buying a property with the aim of investing in the presence of more than one real estate developer for the project, as a result of sometimes problems between developers due to financial problems or lack of support for one of the developers or due to certain disputes that may occur in the presidency of some companies.

4- Beware when buying a real estate that the project is based entirely on loans, or that there are several developers in the project who have all taken loans to establish the project in the event of delays in repaying these loans with the banks, which may lead to the failure of the project and damage to its investors.

5- Caution when buying a property under construction from very large projects, which can contain 4000 or 3000 apartments, and here most problems will occur in this project such as delays in delivery or delivery with specifications less than agreed upon, in addition to congestion of services The facilities provided are not proportional to the number of apartments in the complex, unless the strength of the real estate developer is guaranteed.