What is real estate fraud in Turkey?
It is a deliberate deception in order to cheat and make money illegally, as some commercial fraudsters, and some companies that do not enjoy credibility and confidence in the field of real estate investment in Turkey, take advantage of the lack of experience of those wishing to buy a property in Turkey, and their lack of sufficient knowledge in The real estate market in Turkey and the prevailing norms in the buying and selling operations, and the lower and upper limits of prices.
What are the most important methods and methods of real estate fraud in Turkey?
There are many ways and methods of real estate fraud in Turkey.
The main types of real estate fraud:
• Real estate fraud by impersonating the property owner:
This method is based on the fraudster impersonating the real owner of the property that the investor wants to buy, or even that he may claim that he is the legal agent of the property owner in the sale process, and this is by showing forged papers and documents to prove his ownership of the property or through a forged legal power of attorney, Perhaps this method is the most common and most dangerous real estate fraud in Turkey.
We at Istiklal Homes Real Estate focus on the fact that we must deal with trusted real estate investment promotion companies and complete all transactions through them, because they have extensive experience in the field of real estate, and they also have a licensed law team to follow up on legal matters in the process of selling and transferring ownership, in addition to the availability of a team capable of following up on matters Related to concluding contracts in the official departments so that the purchase process takes place legally, away from problems.
• Offer the property at a price much lower than its real price:
In this case, those who want to commit fraud deliberately offer real estate offers at prices that are considered very cheap compared to the real value of it, and promote it as a deal of a lifetime.
In most cases, behind this exaggerated price reduction lies a set of legal problems such as high taxes or unpaid and accumulated fees. Sometimes the title deed displayed as a property (Tabu) is not identical to the property that the investor wants to buy, and here a property other than what the buyer has seen will be sold.
Our advisory team at Istiklal Homes advises investors to stay away from such types of offers and be careful when examining the properties that these offers are far from reality.
· Offering the property at a price higher than its actual price:
Some real estate marketers who work without being associated with a real estate promotion company add an additional amount to the price of the real property in order to be able to increase its commission from it.
It must be mentioned that real estate prices are uniform, whether for real estate promotion companies or for people who buy real estate directly from construction companies, which in turn pay the commission to the real estate broker.
Therefore, we advise investors to deal with reliable real estate brokers who provide the real prices for the property without adding to its real price.
• Real estate marketers without an official permit:
Real estate marketing companies have become widespread and large, especially after the remarkable success in the Turkish real estate market, where a large group of these companies began to practice the profession without obtaining an official permit from the Turkish government, which makes them outside the scope of legal accountability in the event of any fraud or manipulation, Therefore, the investor must ensure that the company he deals with holds an official license to practice the profession.
Real estate fraud penalties in Turkey:
Real estate fraud penalties are included in the list of penalties that follow fraud crimes, and the penalty varies according to the classification of the crime in the category of subtle fraud, or simple fraud, but scorpion fraud crimes often subject offenders to imprisonment from one to five years, and the penalty in conditional fraud may reach up to Seven years in prison, with judicial fines that may reach twice the amount that the offender received by fraud.
Ways to avoid real estate fraud in Turkey:
• The real estate investor must be familiar with the real estate investment laws.
• Ensure the identity of the person he deals with and the authenticity of the papers he submits.
• Examination of the property with all its details on the ground.
• Ensure that the property he inspected matches the title deed and through the TKGM Parsel Sorgu website.
• Documenting all the matters agreed upon within the contract and attesting it by the notary public (Notre).
• Hire a trusted real estate brokerage or advisory company.
• Ensure the credibility of the real estate agent who deals with him.
• Do not get carried away by unreasonable offers.
• Preserve his personal information and bank accounts and not provide them to anyone.
What can the implant company offer to those who have fallen victim to real estate fraud?
Real estate fraud has multiple and renewable methods, and investors must deal with reliable real estate companies in order not to fall victim to any fraud or fraud. We hope that we, Istiklal Homes Real Estate, have succeeded in explaining the most prominent methods of real estate fraud in Turkey and how to avoid them clearly and understandably, and we thank you for following us.
As Istiklal Homes takes the issue very seriously, and studies the case thoroughly as quickly as possible, to determine the legal methods that should be started immediately, through a legal team specialized in this field, and to secure the best lawyers to follow up the case, and to prosecute the perpetrators, to reach The rights of the victims of real estate fraud.
