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We develop quality projects with an optimal balance within the relationship of comfort, price and trust.

Service Titles

Service
01.
Real Estate Purchase and Sale 
02.
What is Real Estate Sales Contract? 
03.
How is a Real Estate Sales Contract Prepared
04.
Scope and Validity of the Real Estate Sales Contract 

Answers to all your questions such as; What is Real Estate Sales Contract? How is it prepared? Which Articles Are Included in the Contract? And its Scope and Validity Period.

In real estate purchase-sale practices, the parties are required to formalize the transaction subject to sale through a contract. The sales contract, which must be concluded in the presence of a notary public, is a commitment that the sale will take place. In the sales contract; contract terms, sale price, real estate address and personal information of the parties should be specified.

Real estate sales contract; is a written document showing that the buyer has approved to pay a certain price and the seller has approved to transfer the ownership of the immovable property to the buyer in return for such price. According to the Civil Code, Notary Law and Land Registry Law, contracts are not valid unless they are made under official conditions on an objective and qualitative basis. For this reason, it is important that the sales contract to be made in real estate transfer transactions is signed in the presence of a notary public. It is not possible for the parties to claim for penal clauses from each other with ordinary contracts drawn up without notary approval. Purchase and sale contracts cannot be used for the registration of real estate for the buyer; however, the buyer may request the annotation of the real estate to the registry by using the contract. Unless otherwise stated in the terms of the contract, the annotation of the promise of sale to the land registry can be made by applying to the Land Registry Directorate by one of the parties.

In the real estate sales contract; the type of the real estate, the open address of its location, the contract parties, the seller and the buyer's information are specified. Then, the terms of sale are agreed and written in articles. Among these conditions; there are also details such as the price that the buyer agrees to pay to the seller in exchange for the real estate, the deposit taken from the buyer as a deduction for the sales amount, the nature and form of payment of the sales price. If the parties have agreed to pay a part of the sales figure in advance and the rest in installments, the down payment, the installment period and the installment amount should also be clearly specified in the contract. In terms of the continuity of the legal validity of the contract, each change to be made in the contract must be carried out within the official procedure.

As per Article 156/2 of the Code of Obligations, if a real estate sales contract has been made with the notary approval, but the buyer has waived the purchase, he/she cannot demand the return of the deposit he/she has paid. On the contrary, if the seller waives to sell his/her real estate, he/she has to return twice the amount of the deposit to the buyer. If the contract is drawn up by a real estate broker, the seller and the buyer share the service fee to be paid to the broker. In the event of a possible dispute between the parties, the party found to be unfair by the court is obliged to cover the damages of the other party, court and execution costs together with the indemnities written in the contract. Even if any of the parties does not declare that it has waived the purchase-sale transaction after the real estate sales contract is signed, the contract loses its validity after it expires. As per the Article 125 of the Code of Obligations, the validity period of sales contracts is 10 (ten) years. Contracts that are not concluded with notary approval are considered as ordinary contracts and are not legally valid.
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