The best payment methods available for buying real estate in Bursa, Türkiye
The best payment methods available for buying real estate in Bursa, Türkiye. Bursa’s real estate market offers various payment methods to accommodate different financial situations and preferences of buyers. Whether you are looking to make a straightforward purchase, spread your payments over time, or engage in a more unconventional transaction, Bursa’s market has options to suit your needs. In this article from Ebla Real Estate, we will talk about the best payment methods available for buying real estate in Bursa, Türkiye.
The best payment methods available for buying real estate in Bursa, Türkiye:
Cash Payment:
Paying in cash allows for immediate ownership transfer, providing the buyer with full control over the property without any ongoing financial obligations. This method is straightforward and can often expedite the buying process. In addition, it is among the best payment methods available for buying real estate in Bursa, Türkiye for many reasons, including:
- Sellers are often more inclined to offer discounts or negotiate the price when a buyer offers a cash payment.
- Transfer the full value of the property through a bank in Turkey with a one-time transfer fee.
- Receive the Tapu (title deed of the property) directly after paying the 4% Tapu tax
- Additionally, cash transactions are generally quicker and involve less paperwork.
However, there are some disadvantages of cash payment, including:
- A significant amount of liquid capital is needed upfront, which can deplete savings or limit other investment opportunities.
- Tying up a large sum of money in a single asset may prevent the investor from capitalizing on other potentially lucrative investments.
Installment Payment:
There are two ways to buy an apartment in Bursa, Türkiye in installments, which are:
- The first way is through one of the construction companies, which offers special offers every period. After the agreement with the construction company, you pay the required down payment, which often ranges between 35% and 50% of the total apartment value. Then, you complete the remaining monthly installments. It is worth noting that all the terms agreed upon be included in the sales contract.
- The second one is through a Turkish bank. The bank first buys the apartment from the construction company, then sells it to you, with a mortgage sign on the apartment, until you complete all the installments.
There are many factors that encourage customers to buy a property in Bursa, Türkiye in installments, the most important of which are:
- The buyer will not have to face the financial pressures of paying in the long term.
- It avoids the buyer from resorting to debt to pay the full value of the property, as this makes there an additional burden that may be difficult to control.
- Investors can achieve a high profit rate after purchasing in installments, and this is by selling the property after the completion of the construction phase.
- Buying more than one property in Türkiye.
As for the most prominent disadvantages about buying real estate in Bursa Türkiye in installments, they are:
- You will not be able to obtain the title deed until you have completed all installments.
- Moreover, the property price will increase relatively if you buy it in installments
- Furthermore, buyers are committed to ongoing payments, which can be a burden if their financial situation changes unexpectedly.
- In addition, failure to meet installment payments can lead to penalties or even loss of the property.
Barter:
Barter involves the exchange of assets instead of monetary payment. Buyers can trade other properties, valuable items, or services in return for real estate. This method can be among the best payment methods available for buying real estate in Bursa, Türkiye for those with significant assets but limited liquidity.
Among the advantages of barter are:
- Barter transactions can be highly flexible and negotiable, allowing both parties to agree on terms that are mutually beneficial. This method can lead to creative solutions and win-win situations.
- Bartering enables buyers to acquire real estate without a significant cash outflow.
As for the disadvantages of barter are:
- Determining the fair market value of exchanged assets can be complex and may lead to disputes between parties.
- Moreover, not all sellers are open to barter deals, which can limit the availability of properties that can be acquired through this method.
Those are the best payment methods available for buying real estate in Bursa, Türkiye.
In conclusion, choosing the right payment method for buying real estate in Bursa depends on individual financial circumstances, investment goals, and the specific property in question.
Thus, we talked about the best payment methods available for buying real estate in Bursa, Türkiye.
Edited by: Ebla Group Real Estate
If you like the topic, do not forget to share it with your friends
