Monday 2 April 2012
Owners Condominium Committee Turkey
We now have a committee - it took some doing. The developer wanted to keep control, I wonder why? There were a couple of attempts but they didn't do it according to the strict rule of law and to get everyone on board that's what you have to do.
The developer tried first but he wasn't accounting for the money properly, he wasn't paying people with the obvious problems associated with that. There were lots of 'hangers on' and the owners who were paying the management fee felt they had to do something about it.
We formed a co-op - a few owners got together, it wasn't strictly legal as far as the condominium law was concerned but at least the owners trusted that their money wasn't being wasted and it was a stop gap until a properly elected committee could be formed. The management fee wasn't enough because half the site weren't paying their way, namely the developer and the properties he still had in his name (some of which had been sold and not handed over properly - there lies another story). The co-op increased the fees which we hope in time will be reduced once we have everyone paying their way.
The next attempt still didn't satisfy the law - we decided to take legal advice. The developer owned more than 50% of the land but we had the majority of the property votes so it took 2 meetings to elect the committee. That was in 2010, we had our meeting for 2012 in Turkey and despite the developers best efforts we re-elected the committee the majority wanted.
There are still some problems to sort due to unfinished services and poor workmanship but we battle on.
We Love Our Home in Turkey
I don't want to seem too negative about our Home in Turkey. We absolutely love our holidays there, we try and get there about 3 times a year. The place is beautiful and there is so much to see in the area, they say you can ski in the morning and go in the sea in the afternoon but as yet I haven't tried it. The other owners on site are now our friends. We have an owners' committee now so we know our money is being spent how we the owners want it to be spent. There are still a few problems but we are using the law to overcome these.
The gardens are beautiful and improving all the time, they mature from one visit to the next and are looking well established now. We have several swimming pools to chose from, one on our doorstep and during the season there is a bar where we love to sit having 'sundowners' and watch the beautiful sunsets.
The weather in winter, although it can be stormy, is much better than in GB and we are hoping that in time we can spend even more time there. Most of the owners are a similar age so I can see the winter periods getting busier as the years pass. What could be nicer the cold English months in Turkey and summer at home in England.
The local markets are full of local seasonal produce, you can buy a large bag of fruit and vegetables for next to nothing. Prices are increasing compared to a few years ago but most things are still cheaper than England. The exchange rate has improved over the last 18 months so your money feels like its going a bit further.
I'm off there again in a few weeks, can't wait.
Sunday 1 April 2012
Charges on Property in Turkey
If you owe money in Turkey you can be taken to court and a charge put on your possessions. The bailiffs can enter your property and take anything they think will pay off the debt. A charge can be put on your property and will stay there until you sell the property at which time the debt will be repaid along with extremely high rates of interest. The creditor can force the sale of your property through an auction.
If you are buying an off plan property the developer can borrow money to develope the site by borrowing money against your property, the lender has a charge on your property.
The developer may get into financial difficulty and a creditor could put a charge on your property.
It is vitally important to check that anything you buy in Turkey is clean of all charges prior to purchasing as when you buy a property in Turkey you also buy the charges on that property.
Any charges against a property will be registered at the Tapu office and you must ask your lawyer to check.
It is safest to register a charge against your property for any money you pay towards the purchase of the property prior to receiving the Tapu (Deeds).
Condominium Law in Turkey
Condominium Law in Turkey
This law is there to protect you when buying a property in Turkey on a condominium - a group of properties with common parts. This can either be a block of flats or several groups of buildings connected by common parts. Your Tapu is marked 'KAT MULKIYETI' if you are part of a condominium and this will have been established at the planning stage of the development. The theory is everyone owns the common parts and are responsible for their upkeep. A committee of owners can be formed to decide where the management fee is spent and what the priorities are. No one person can have more than 50% of the votes and therefore over rule everyone else.
Pitfalls to avoid
1) The developer continues to run the site on completion
2) Not everyone pays the fees - what are the procedures to make sure everyone pays
3) check out the management plan, are you happy with the rules
4) find out what are the common parts
5) how is your money being spent, is it being spent wisely
6) is there a fund for bigger projects i.e. renovation of swimming pools, roads
This law is there to protect you when buying a property in Turkey on a condominium - a group of properties with common parts. This can either be a block of flats or several groups of buildings connected by common parts. Your Tapu is marked 'KAT MULKIYETI' if you are part of a condominium and this will have been established at the planning stage of the development. The theory is everyone owns the common parts and are responsible for their upkeep. A committee of owners can be formed to decide where the management fee is spent and what the priorities are. No one person can have more than 50% of the votes and therefore over rule everyone else.
Pitfalls to avoid
1) The developer continues to run the site on completion
2) Not everyone pays the fees - what are the procedures to make sure everyone pays
3) check out the management plan, are you happy with the rules
4) find out what are the common parts
5) how is your money being spent, is it being spent wisely
6) is there a fund for bigger projects i.e. renovation of swimming pools, roads
Advice for buying property in Turkey
My advice to anyone buying in Turkey
1) use a lawyer
2) get your contract translated and notorised -- an English contract is not legal in Turkey
3) get a charge against your property for any money paid
4) buy from a well established developer with a track record
5) check out every claim the developer makes, get written guarantees signed and notorised
6) don't buy off plan
7) check the person selling you the property actually owns it
8) check there are not charges on the property - you buy the debts against it
9) check the rules of the condominium, who runs the site after completion
10) what are you buying - is the common land included
Buying Property in Turkey
Everyone was doing it, buying property abroad - retirement fund, so we thought. Spain was too expensive. How about Turkey? seemed like a good idea at the time.
Our first visit to Turkey was in 2005, we witnessed several things we were not happy with. That's how they do it in Turkey we were told by the lawyer. It will be ok if they remove part of the roof when you have your TAPU - property deed - to give you an extra bedroom and balcony you don't have permission for. Its ok that they only declare part of the selling price so you pay less purchase tax (or at least your developer does).
We decided not to go ahead that time but two months later we were back in Turkey on a viewing trip for a property we had seen at an exhibition. The model was most impressive, cost £100,000 we found out later, worth every penny. The site was sold out before the end of the year including a lovely villa to us.
We watched it grow out of the ground, the British developer along with his Turkish partner were living up to expectations. We paid our instalments as the development progressed, sometimes slower than others - they never told us what the problems were. We were so impressed we put a deposit down on the next phase in December 2006.
Our villa was ours on schedule, we received our deeds in January 2007. We used a lawyer, that's the advice. Apart from some snagging we were happy with our home in the sun.
The apartment in the next phase is still not completed, we are part of a class action to make the developer honour our contract and monies paid. Not the original developer but someone he has handed it over to, fed to the wolves you might say.
Our first visit to Turkey was in 2005, we witnessed several things we were not happy with. That's how they do it in Turkey we were told by the lawyer. It will be ok if they remove part of the roof when you have your TAPU - property deed - to give you an extra bedroom and balcony you don't have permission for. Its ok that they only declare part of the selling price so you pay less purchase tax (or at least your developer does).
We decided not to go ahead that time but two months later we were back in Turkey on a viewing trip for a property we had seen at an exhibition. The model was most impressive, cost £100,000 we found out later, worth every penny. The site was sold out before the end of the year including a lovely villa to us.
We watched it grow out of the ground, the British developer along with his Turkish partner were living up to expectations. We paid our instalments as the development progressed, sometimes slower than others - they never told us what the problems were. We were so impressed we put a deposit down on the next phase in December 2006.
Our villa was ours on schedule, we received our deeds in January 2007. We used a lawyer, that's the advice. Apart from some snagging we were happy with our home in the sun.
The apartment in the next phase is still not completed, we are part of a class action to make the developer honour our contract and monies paid. Not the original developer but someone he has handed it over to, fed to the wolves you might say.
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