Important Considerations in Real Estate Purchase-Sale

Real estate purchase-sale transactions are one of the most important financial decisions in our lives. We will provide detailed information about legal issues, procedures and practical recommendations to consider in this process.

Examination of Title Deed and Title Records

The first issue to consider in real estate purchase is the examination of title records. The accuracy of the information in the title deed, ownership status, rights and obligations on it should be checked in detail.

• Accuracy of ownership information in title deed
• Checking rights such as mortgage, seizure, annotation
• Examination of management plan in case of condominium
• Checking zoning status and building use permits

Contract Preparation and Signing

The real estate purchase-sale contract is the most important document that determines the rights and obligations of the parties. Basic elements that should be included in the contract and points to consider:

• Identity information and signatures of parties
• Complete address and title information of real estate
• Sale price and payment method
• Delivery date and conditions
• Right of withdrawal from contract and conditions

Tax and Fee Obligations

There are various tax and fee obligations in real estate purchase-sale transactions. It is important to fulfill these obligations on time and correctly.

• Title deed fees and stamp tax payments
• Real estate tax declaration and payment
• Income tax declaration (in case of sale)
• VAT declaration (in commercial real estate sales)

Delivery and Transfer Procedures

The delivery and transfer of real estate is the final stage of the purchase-sale process. Issues to consider at this stage:

• Checking the physical condition of real estate
• Delivery of keys and security systems
• Transfer of bills and subscriptions
• Completion of title transfer procedures