We all already know that it is most profitable to invest in real estate at the stage of excavation – then the profitability will be maximum. But this approach has a number of points that the investor must control on his own or, ideally, with the involvement of a competent partner who understands the full context of the Turkish housing market. These are not so much risks as indicators of how smoothly the process of housing construction, its legal and aesthetic design is going. This is what we will talk about today.

Tapu: the main document for the investor

I must say right away that the most important document when working with real estate is Tapu or, speaking in Russian, a certificate of ownership. It is issued by the Cadastral Office of the municipality and contains all the information about the property.

There we see in whose name the property is registered, whether someone else owns a share in this object, whether there is a mortgage with an encumbrance (a temporary ban on the sale) or other restrictions. Tapu also indicates the cadastral value of housing and the area of land under the house, which is managed by the owner – in Turkey, residents also own a share of the land under the house. In addition, the document contains data on the condition of the property and the land itself. This is a kind of “passport” of the apartment with a full description of it.

At the same time, the document can change, reflecting all the changes that occur with housing. To understand how this happens, I will briefly describe to you the process of building a house and what changes are made to Tapu and other documents so that you know what documentation to ask the developer for more reliable control.

Construction at the drawing stage

The whole process from excavation to the settlement of new tenants can be divided into 4 conditional stages:

1. The house is at the drawing stage;

2. Start of construction (erected two first floors);

3. Completion of construction and final certification;

4. Sale of real estate.

First, the construction company creates a project on paper – a drawing of a housing complex. It forms a complete description of all architectural structures on the land, all residential blocks and local infrastructure, number of storeys, area of the object as a whole and each apartment separately, etc. That is, the entire structure of the complex, which will be erected on this construction site, is signed in detail.

This is important because. If, upon completion of construction, the details of the already built object do not coincide with the original drawing, then the house may simply not be accepted for operation. Even if the differences are the most minimal, only a couple of tens of centimeters. But let’s not get ahead of ourselves – the developer must first register this drawing with the municipality.

In the mayor’s office, such a plan for a residential complex is carefully studied and a decision is made whether to register an object for construction. In particular, the municipality looks at the restrictions that exist for each land plot, the structure of communications, etc. If everything went well, then the authorities issue a document called Yapı Ruhsatı – this is the building permit.

Only after these approvals, the construction company begins real work on the site, digs a pit, builds the foundation and the first floors.

The first two floors have been erected: why is it important?

When the first two floors are erected (there is usually a closed parking lot), the developer can submit a request to the mayor’s office for the easement of the floors – this means that the second stage of construction of your future home has started.

Easement gives the right to registration of ownership and management (construction) of essentially someone else’s apartment. That is, according to the law, the project of a residential complex is considered to have already taken place, which allows you to move further in its design – to issue the first version of Tapu for apartments and transfer it to future tenants. True, this will not be the final version of the document – it will be designated as Kat mülkieti.

I will add that not all developers do this. Many give out only the final version of Tapu after the commissioning of the complex. But there is an important nuance here – the registration of ownership at an early stage indicates the seriousness of the developer’s intentions, because from that moment on, the local authorities begin to more carefully control the object.

Moreover, early registration of ownership allows the developer to obtain bank guarantees and take out insurance for the object. This, in turn, is important from the point of view of mortgages and guarantees that the object will definitely be completed. For an investor, the early registration of Tapu is a good sign.

Thanks to such a system, there are virtually no unfinished buildings in Turkey. Even if the construction company begins to have some financial problems, the insurance company takes patronage over the object, and the construction is completed successfully for the investor. This is what distinguishes Turkey from the CIS – here all the nuances are thought out so that the end buyer or investor is not interested even in the event of some kind of force majeure.

Commissioning of the house: we check all the documentation

Commissioning is the third stage of construction, which is confirmed by appropriate changes in the documentation. So, the developer is issued a document called Ferdi Iskan (Ferdi Iskan) – an act of commissioning housing. There is also Genel Iskan – the technical passport of the entire building, and it is highly recommended not to confuse these documents.

Ferdi Iskan is issued when the rough construction of the building and interior decoration are completed, when all communications are connected and the design of the local infrastructure is completed. That is, it says that the house is completely ready for occupancy.

But for the developer, this is a rather complicated process, because the regulatory authorities check the house with the original drawing at this stage. They look at whether everything is properly constructed, whether there are any violations, and only then give out their conclusion. This is a very important document, which is why the check is carried out very carefully.

Even if the developer takes the balcony to the left or right for an extra 10 cm or makes other minor inconsistencies with the plan, then İskan may not be issued, and the house, respectively, may not be put into operation. We can say that this is the main risk for the investor. But this happens extremely rarely, because the developer is interested in handing over the finished object no less than the investor.

Successful receipt of İskan allows you to issue Tapu in the final version. It will no longer be marked Kat mülkieti, but Kat irtifakı. This is a very important point for the investor – only the final version of the document gives the owner the full right to this property. I recommend that you always check this point when buying and selling real estate.

Conclusion of the contract of sale

Finally, we come to the final stage – to the execution of the contract. All parameters in the contract should be carefully studied and even consulted with a specialized lawyer. After all, we are discussing the purchase of real estate, and not a kilogram of tomatoes in the market – the price of a mistake here is very high.

The main problem is that it can be difficult for an uninformed person, especially a foreigner, to understand the Turkish documentation – and this is the main risk. However, for a specialist, this is absolutely nothing complicated. Therefore, I strongly recommend contacting professionals for advice and support of such transactions.

Our specialists receive education for 7-8 years, improve their skills, and only after that they are allowed to support transactions. But experience in the local market is especially important – the employee must know all the ins and outs of construction companies, their reputation, the financial situation of the developer and other risks. He must also have direct access to the developer in order to request all the necessary drawings and documents, among which the main one is the same Tapu.

A small amount of money spent on consulting
Expert Property
specialists can save you from losing the entire amount – our reputation, which we value very much, speaks for itself. If you contact me at a very early stage, then I, as an experienced realtor with many years of experience, will also select the right object, where the risks will be minimal, and the profit and comfort will be maximum.

Always yours Tatiana Güneş

A reliable guide and assistant in the field of real estate