The steps of the transaction between the buyer and seller in real estate are called the home sales procedure. Real estate sales are a long and costly process. It must be followed carefully step by step.
It is essential that the specified documents are collected completely and are together. House sales transactions are only carried out at the Land Registry Office. After the necessary documents for the sales transaction are prepared, an authorized person (the real estate owner or his/her representative) goes to the office and these transactions are completed correctly, and the real estate sale is carried out.
How is a house sold and what are the documents required when selling a house? How long does the housing purchase and sale procedure take and what should be taken into consideration?
How to Do Home Buying and Selling Transactions
What are the title deed transactions and title deed transfer transactions, how does the house sales procedure work ? First of all, as mentioned before, the necessary documents are prepared completely. Then, from the relevant title deed directorates
An appointment can be made online via the website or by calling the 181 Land Registry and Cadastre Call Center.
On the appointment day, the homeowner and the buyer go to the land registry office with all the documents and apply. It is important to know the details regarding the home sale deed transactions in order to speed up the process.
It is important that the appointment day, appointment time and appointment place transactions are completed completely in order to prevent any delays in the work. In this regard, both the seller and the buyer should know the transactions well or get help from experts. Any negative situation will delay the sale transaction and disrupt the purchase and sale to be made.
Home Selling Procedure to Follow Step by Step
It is important to know the steps in the home selling procedure in detail. This section should be paid attention to, especially since it is a step-by-step process.
Making an appointment with the General Directorate of Land Registry and Cadastre. As mentioned before, a TAPU appointment must be made through the official website of the General Directorate of Land Registry and Cadastre or by calling Alo 181.
Preparing the necessary documents for the sale of a house. As in every official business, in the transfer of title deeds, the documents must be obtained completely from the right institutions and delivered to the right place by the authorized person (In this case, the authorized person is the homeowner). The documents that the buyer and seller must deliver are different, the real estate owner who will deliver these documents or if the buyer is illiterate, they must go to the land registry with two witnesses who do not have the same surname as them.
Paying the title deed fee. The title deed fee amount should be checked, the price may not be the same as last year, this fee is calculated according to the housing loan account and the amount to be paid can be checked by making the Revenue Administration Title Deed and Cadastre Fee Inquiry and the payment can be made online. Before the transfer-delivery process, the title deed fee that the buyer and seller are obliged to pay is determined and the fee is paid to the tax office of the region where the sale takes place.
What Documents Are Required When Selling a House?
The second step of the home sales procedure is to collect the necessary documents. The documents listed below are required and must be declared in full. The declared documents must be obtained from the correct institutions and approved.
First of all, the documents requested from the seller:
Original or photocopy of the title deed
1 photo (No longer required.)
Original and photocopy of identity card
"No tax debt" letter from the municipality. If there is a property tax, it must be paid. (No longer mandatory.)
Document showing the Real Estate Declaration Value received from the Municipality (Market value.)
If a proxy is to be appointed, a notarized power of attorney (Original)
Documents to be submitted by the buyer:
2 photos (No longer mandatory)
Original and photocopy of identity card
If a proxy is to be appointed, a notarized power of attorney (original)
Also, mandatory Earthquake Insurance Policy (DASK)
It is essential that the above-mentioned documents are declared to the relevant institution with the participation of the buyer and seller or the persons they appoint as their representatives. These documents are examined in the contracting chamber.
Steps to be Followed on Title Deed Day
You must be at the institution 15 minutes before your appointment time.
At the appointment time, all buyers and sellers or their representatives must be present at the land registry office with their identity cards.
For illiterate buyers and sellers, two unrelated witnesses must be present.
After payment, the fee receipts must be submitted to the officer performing the transaction.
In the contracting room, sales documents must be signed by all buyers and sellers.
If a loan is used, loan usage documents must be signed at the bank.
In addition, after these steps, the necessary institutions must be visited for invoice transfer procedures, the residence must be moved by going to the Civil Registry Office and the property tax declaration must be made to the necessary municipality.
How Long Does It Take to Buy and Sell a Home?
The home selling procedure can be challenging and long, but if you follow the steps carefully, the process will be shortened. The average home selling period is between 1 and 3 months. According to Indexa's 2020 data, the average home selling period in Turkey is 77 days.
Title deed transfer transactions, which formalize real estate purchase and sale transactions, can mostly be completed within a day thanks to the appointment system. For the title deed transaction, you should go to the institution 15 minutes before the appointment time and do not miss the line.
If the details that need to be clarified before going to the land registry office are taken care of, the process will proceed as usual. The house sales process is, in a way, related to the speed of collecting documents. The faster the necessary documents are prepared correctly, the faster an appointment can be made with the land registry office.
If you are late for your appointment, the process may be delayed for a few days. However, it is a procedure that can be completed quickly if done carefully.
Things to Consider in the Home Selling Procedure
At the very beginning of the house sale procedure, the buyer should be free from debts. The person should calculate the price of the house he/she will buy or sell and sell accordingly.
The primary points to consider in the home selling procedure can be listed as follows:
The party that will pay the title deed fee and property tax must be determined.
The real estate agent payment, title deed, file and insurance costs must be added to the payment.
If a loan is to be taken, a bank selection must be made, and the net loan amount and maturity calculations must be made.
Again, if a loan is to be taken, the bank must be applied to with a copy of the title deed and all necessary documents.
The maximum money transfer limit of bank accounts should be set by determining how the payment will be made.
Compulsory Earthquake Insurance (ZDS) must be taken out or its validity must be checked.
The market value of the residence must be obtained from the municipality to which it is affiliated and property tax must be paid.
If you are going to use a loan, you should get mortgage documents and bank officer information from the bank.
The title deed owner or his/her representative must apply to the land registry office with the necessary documents.
The fee must be paid taking into account the appointment information received via SMS.
If you are going to use a loan, appointment information should be sent to the bank's mortgage officer.