Lost money from unscrupulous developers in the countries of the former CIS left a huge imprint on the minds of many thousands of citizens. Almost every second person is afraid to invest in the construction phase. I perfectly understand all buyers, risks exist everywhere and always, and even what cannot be, one day, too, can be. This is such a pessimistic attitude that the post-Soviet system has put into the minds of our fellow citizens.
But it is profitable to buy a construction site; at the pit stage, it is possible to choose the layout, floor, direction of light, change the layout, wall colors, replace the initial materials while the house is still under construction and is not ready. Further, when the house is ready, any changes can significantly increase the budget for the work.
What to do and how to protect yourself from risks?
In Turkey, there is a valid consumer protection law No. 6502, which sets out the basic rules, subject to which, the court will accept the good faith position of the injured party and return the money.
The developer is prohibited from entering into a contract with the consumer until a building permit has been obtained. This means that having received a signature from the developer on the contract of k-p in the absence of a building permit, the developer immediately becomes a lawbreaker with the corresponding legal consequences. Developers also know this and will not take the risk of signing a contract with a consumer if there is no building permit.
The contract must be notarized.
The developer is obliged to arrange and provide the consumer with insurance against the risk of non-completion of the construction of the facility. This insurance protects the consumer as well as possible, because in the event of negative consequences, the refund will not be associated with the presence of money in the accounts of the construction company, on which the court can recover. The insurance company will cover these losses.
Completion date of the object should not exceed 36 months.
The developer is obliged to provide in writing a management plan for the residential complex, a complete list of characteristics of the acquired property.
Additional points:
Be sure to listen to a professional realtor (!) About the reputation of the developer, ask to show other previously completed projects by this construction company. Specify how many years the developer has been working in the market, and what kind of projects it specializes in.
The contract must be drawn up in Turkish, with the obligatory participation of a sworn translator. For an additional fee, the translator can prepare for you a translation into Russian of the text of the agreement. It should also be done for you by the real estate company you work with.
Our company works with many construction companies about whose reputation we can tell a lot, contact only reliable and professional real estate agencies.
