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Business registration and support in Turkey CHECK ( Due Diligence ) REAL ESTATE IN TURKEY

Taras Miroshnychenko

Head of International Corporate Law and Fintech Practice

E-mail

miroshnychenko@prikhodko.com.ua

Phone numbers

Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.

CHECK ( Due Diligence ) REAL ESTATE IN TURKEY

CHECK ( Due Diligence ) REAL ESTATE IN TURKEY

In Turkey, as in other countries, there is a legal audit service or Due diligence of real estate objects. This service is due to the fact that when buying property, a person invests significant funds compared to the cost of such an inspection, and therefore, in most cases, such a person wants to understand the entire history of the occurrence of the property, as well as take into account all possible risks in the event of its further use or sale.

Checking a property in Turkey is a study of the history of its creation, change of ownership, and conflicts that arose with this property. That is why Due diligence will protect you from the negativity associated with the history of the object.

It is clear that 100 percent guarantees are difficult to achieve, but a full check of real estate in Turkey, including a high-quality and complete check of the history of a real estate object, will allow you to be ready to buy or sell such an object, and will also help you correctly assess investment risks.

What you need to check before buying land, house, apartment, or any other property:

The emergence of the object and the first right of ownership

Most often, violation of the law is allowed precisely at the stage of construction and registration of property rights. That is why it is important to check how the right to build arose, the origin of the land, who exactly built it and on what basis, and whether conflicts or disputes arose during construction.

Analysis of previous owners

It is very important to understand the procedure for changing ownership and who, in fact, they are, from the very first to the last. This can be done either by analyzing all purchase and sale transactions, donations, etc., as well as through the relevant registers.

What is the status of the property?

It is necessary to investigate the documents on the basis of which the last registration of property rights took place, and whether such property rights are currently burdened with arrests or prohibitions on registration actions. It is also important to check the absence or presence of litigation and decisions on the property.

Physical inspection of the property

Verification of compliance with the technical characteristics of permits. It often happens that the previous owners changed something and did not make the appropriate changes and changes to the technical documentation, which in the future can lead to at least additional costs for the legalization of such changes or even the unsuitability of the object for use and significant investment losses.

Based on the results of the inspection of the investment object in Turkey, you will receive a conclusion from our company, which will reflect all stages of the inspection with identified shortcomings and comments, as well as an investment conclusion about possible risks, if any.

As we see from the above recommendations, checking the purity of objects and transactions in Turkey is simply impossible without specialists for whom the Turkish language (both colloquial and legal ) is relative. At the same time, the given specialist must have both experience ( preferably from 10 years) and professional registration.

Exactly such specialists accompany our clients in Turkey.

Our specialists offer you the following services for checking real estate in Turkey :

analysis of the history of the real estate object;
verification of the developer, seller, and related persons;
examination object unfinished construction ;
checking the technical characteristics of real estate for their compliance with technical standards.