What Actions Are Taken When Buying a House?
Owning real estate is the dream of many. For this, savings are made and a house is bought, usually supported by credit. As Atlas Property & Construction, we have summarized for you what are the procedures you come across from this stage, what actions are taken when buying a house.
Determination of the Current Value
This is the first thing you do when buying a home. The buyer applies to the municipality in which the house is located. The municipality staff determines a square meter price for the real estate in question.
While calculating the current value, three comparable houses are determined from the neighborhood where the house is located and their average is taken as a basis.
Along with the document containing the current value, a document stating that the house is not in tax debt should also be obtained.
The municipality formalizes the amount to buy the house and then the necessary procedures for the deed are started.
What to Do During the Deed Acquisition Process
After the current value of the house is official, it is time to pay the title deed fee. At this stage, a fee of 2 percent is collected from both the buyer and the seller. The fee is realized through the banks with which the relevant land registry office has an agreement. In addition, the title deed capital cost must be deposited together with this fee. After the fee is paid, an application is made for the title deed to be issued with the documents listed below.
-The original and one photocopy of the identity cards of the buyer and seller
-One photo of the seller and two of the buyer. (Personal headshot taken within the last six months)
-The original and one copy of the original deed issued in the name of the seller
Duration of Deed Procedures
The duration of your transaction may vary depending on the density in the relevant land registry office. If your paperwork is complete and the house doesn't owe any taxes, it's usually finalized the same day. In busy directorates, it is also possible to work with an appointment system. When this way is followed, the title deed is received in about two days.
Home Purchase and Sale with Power of Attorney
People who do not have time or live in another city can buy and sell a house by giving a power of attorney to a relative of their choice or to offices that do real estate tracking.
For this, a power of attorney must be issued from the notary according to the status of the transaction. The business can be concluded with the power of attorney, which will expire when the term expires and in case of dismissal of the attorney.