1.  Plan to complete payment your property purchase either in early December OR late March- never between April (Easter) and September.

3.  Make a short Buy List of 5-8 properties to buy;

5.  Submit your price offer to the seller at a reasonable price advised by your Property Finder, taking into account the real supply and demand situation in the market, shown in the Market Price Valuation Report.

6.  Do not expect the seller to accept this price… instead, plan to re-submit the same purchase price bid every month- or use a pricing strategy advised by your Property Finder…

7.  Remember, the MyTapu Property Finder is a Transaction Manager that is a Qualified Investment advisor- not a real estate agent.

8.  Keep track of prices of the properties shown in the Market Price Valuation Report during the time from April through November (or February), and the sales of properties on your Buy List. 

9.  At any time during this extended period of time the Seller may come back to you and discuss price, because the seller knows he/she priced his/her property 20-30% above the market value, and because your Property Finder is submitting price bids to the seller once a month, as a reminder. You may receive reduced and lower price offers from more than one seller…

10. Once you have received the seller’s concessions to sell at a reasonable price, and very happily at a discount from the original sales listing price, you the buyer, will have purchased at a price that represents a sound investment, protecting capital and preserving wealth.

Remember, a property owner in Turkiye, whether foreign or Turkish, decides on the amount he or she wants to receive for the sale in terms of a USD, EUR, or GBP price, and then adds 20-30%. Then converts this price into Turkish Lira (TL) at the existing exchange rate, and every two or three months, adjusts the TL price to reflect the most recent TL exchange rate. So having this insight, a buyer can calculate the price at which the owner is willing to sell, and use that insight during negotiations. This is a great advantage. Tracking the property over an extended period of time, for achieving an advantageous purchase price. The MyTapu Property Finder keeps track and applies these insights automatically, so the buyer has the information to benefit from, 

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  • Citizenship Investment in Turkiye (6)

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• Selling property in Turkey (14)

A property purchase or sale negotiation by unknowing foreigner buyers in Turkiye begins at the earliest step of first contact with an agent- but local Turks do NOT do business this way, instead avoiding agents. The first essential step to starting the process correctly, is specifically to avoid the steps agents recommend to guide buyers, which enable agents to prey on the buyers and sellers to capture huge profit mark-ups, which are hidden from the buyer.

A simple generalization of guidance provides some insight into the challenges of services provided by agents:“Believe half of what you see, and nothing that you hear…"

For a buyer, the best way to begin the process, is at the first stage of looking for a property, and MyTapu Associates provides a Property Search & Selection Service that not only provides the widest selection of property choices from the whole market, many directly from owners (without agents), and also integrates Negotiation and the complete range of Transaction Services, if the investing buyer so instructs. More information here.

For a seller, the best way to begin the process, is at the first stage of looking for a buyer for the property, and MyTapu Associates provides a Property Sales Services that are the standard method used by locals, making it possible to attract the widest selection of buyers from everywhere in Turkiye and the world, (without agents), and also integrates Negotiation and the complete range of Transaction Services, if the seller so instructs. More information here.

Both buyers and sellers benefit from the digital internet based on-line portals that are the source of 95% of all property transactions in Turkiye. If an agent is saying their website is a portal, avoid that agent- because saying that is a false claim. 'On-line Portals ' have in-built chat box messaging systems with integrated email that enable buyers and sellers to communicate directly with each other, without agents being involved. Agents' websites obviously do not have this feature, for the very good reasons explained below.  

The procedures are different in Turkiye than in other countries, and an un-suspecting buyer that believes otherwise, places his capital at risk and his conscious at risk. Owning a property in Turkiye provides for an improvement in the quality of living and lifestyle, and Professional Transaction Services protect that dream, and prevent the nightmare.

The very attractive lifestyle benefits of owning a property in Turkiye, are offset by the regrettable practices of estate agents and the solicitors that they refer to. Following the procedures recommended by agents, guides unsuspecting and unknowledgeable buyers into situations where non-Turkish speaking international buyers pay far above local market prices, often for properties that are in some way defective. 

Avoiding this situation requires a recognition of a simple reality. The internet search engine listings for property in Turkiye in non-Turkish foreign languages like English and Arabic, lead straight to the websites of agents that apply these regrettable business practices. These same agents do not even appear in a search engine listing in Turkish. The reason is simple- these type of agents serving foreign investors pay money for various techniques to obtain results for top search engine listings and rankings in foreign languages to catch unsuspecting foreign buyers.

These agents can afford to pay this money because the procedures and practices the agents apply when dealing with foreign buyers and sellers, ensure they profit far more than merely from collecting a 2-3 % commission. This is their ‘standard business practice’, involving a series of steps that are intentionally designed to limit a foreign buyer’s negotiating power, and visibility. Usually these steps are combined with different pressure tactics involving fictitiously created urgency, and other emotional and psychological tactics, accompanied by persuasive skills, and often various degrees of dramatic amateur ‘acting’. 

These practices typically involve the ‘hidden price mark-up’ scam – where-by an agent agrees not to charge a seller (or developer/constructor) a commission, if the agent can keep all money obtained by selling the property for more than a specific price level. And the profit from selling above that price- the hidden price mark up -  agents put in their pocket as their profit- often shared with the attorneys they recommend to clients, the Citizenship CBI/CIP consultants they work with, valuation experts, and mortgage brokers that provide false assurances of mortgage finance, just to encourage the client’s to make deposit payments in advance. 

Just because an agent’s website is now providing information on ‘Due Diligence’, does NOT mean they actually perform professional Due Diligence. Usually, the agent has simply obtained the information on this and other topics from MyTapu’s website and placed onto their own website to appear legitimate… a common practice for years !

Avoiding these practices can NOT be done by using an agent that relies on these practices for their business, because no matter what persuasive assurances they provide, these practices ARE their business- not providing standard real estate agency services. So for example, if a buyer wants to offer a price without deposit or below listing price to a seller, the agent’s usual ploy will be to not to inform the seller at all, and eventually inform the buyer falsely.’ there is another buyer at a higher price’ , or ‘the property has been sold’, or ‘the property has been taken off the market’… and neither the seller nor the buyer will know any different – because they both rely on the agent’s communication. This is a major reason why local Turk’s do not use agents. In summary, the only business these agents are interested in doing, is the business of capturing the hidden price mark-up profit- they won’t bother doing anything else. Which becomes understandable when realizing that the ‘hidden price mark-up profits’ can amount to as much as 80% higher than the true sales price.

Yes, FOR a factual real world EXAMPLE, a USD $ 100,000 price mark-up on a  $ 186,000 property being offered for sale at $ 286,000 in Kagithane, istanbul. 

The additional details, tactics, and solutions all derive from, MyTapu Associates 18+ years of experience dealing with these challenges and guiding, advising, and managing residential real estate transactions in Turkiye…. 

Learn more about the Transaction Services available for buyers and sellers- contact info@MyTapu.com about ‘Transaction Services'... click here.

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• Directory of Articles (by Categories) 
• Property Valuations & Appraisal Reports (5 articles)
• Legal Help, Due Diligence, Conveyance (7 articles)
• Property Relates Taxes in Turkiye
• Tapu Issues (7articles)
• Independent Professional Advice (6 articles )
• Reviews about MyTapu Associates (2 articles)
• Buying Property in Turkiye (21)
• Selling property in Turkey (13 articles)
• Property Price Trends in Turkiye