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Investing in cheap properties in Turkey is a smart choice. Turkey has a profitable property market. The apartments in Turkey often get sold out within a short period of time. You can easily find cheap apartments in Turkey through recommendations from the real estate agents. You must only hire local real estate agent to search for the cheap apartments in Turkey. The apartments in Turkey are relatively cheaper than apartments for sale in other European countries such as Spain. If you are from the UK, you will find that the pound sterling has a significantly high value in Turkey. Usually, investors will be able to purchase much better houses in Turkey than in other European countries with the same amount of money.
More and more tourists are coming to Turkey for holiday. Many tourists decide to purchase cheap apartments in Turkey after their holiday trips. All sorts of housing developments have been built to meet the demands of buyers. Developers also have built many facilities and amenities. Investors who have located suitable cheap apartments Turkey should quickly make up their minds to buy them. If you want to secure the deal, you must place a deposit. The minimum deposit amount is usually approximately 3,000 Euros. You can use all sorts of payment methods to make payment for the deposit including cash, credit card and cheque. Cash deposit is the best because it doesn't take a long time to clear.
After placing the deposit for an apartment in Turkey, you must sign the sales contract. The sales contract in Turkey is known as Satis Sozlesmesi in the Turkish language. In the real estate sales contract, the price of the property will be stated. The contract also provides statement on items that are included in the sale such as furniture. Two copies of the sales contract will be issued. One copy of the sales contract will be given to the purchaser while the other copy will be given to the seller. The sales contract will be issued within 2 weeks after the offer is accepted. This is the time when your lawyer really earns his commission. The lawyer has the responsibility to make sure that there are no debts attached to the apartment. Most of the time, the purchaser will be required to make payment for a 10% deposit, which is non-refundable.
You can get a mortgage from your native country to cover the purchase cost. It is recommended that you get financing from your native country if the interest rate in Turkey is significantly higher. However, if the interest rate offered by the Turkish bank is lower, you should obtain a mortgage from the local bank. Many banks will ask you to place a 30% deposit before extending the mortgage application. If you are not going to stay in Turkey permanently, you must ask yourself how you are going to pay the monthly mortgage fees. There are many developers that provide mortgage options for buyers. Signing up for the developer's mortgage can provide mutual benefits depending on the mortgage logistics.
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