Prepaid Housing Sales

Ön Ödemeli Konut Satışı – İzmir Avukat

One of the most significant problems in prepaid housing sales contracts is that some sellers collect large sums of money by signing contracts with multiple consumers for the same housing unit, but then fail to deliver the units to the consumers for various reasons. To prevent this and similar problems, for projects with thirty or more housing units, it has been made mandatory to obtain building completion insurance, the scope, conditions, and implementation principles of which are determined by the Undersecretariat of the Treasury, or to provide one of the following collateral options: a bank guarantee letter, a progress payment system, or a tied loan; or to offer another method deemed appropriate by the Ministry that guarantees all payments made by the consumer. In this way, even if the seller goes bankrupt, consumers who have paid large sums of money to acquire housing through prepaid sales will be able to obtain their final housing unit through building completion insurance or other collateral methods, or they will be able to receive a refund of the amounts they paid.

1. Consumer's Right of Withdrawal

The consumer has the right to withdraw from a pre-paid housing sales contract within 14 days without giving any reason and without paying any penalty. It is sufficient to notify the seller of the exercise of the right of withdrawal through a notary public within this period.

In prepaid housing sales, the consumer has the right to withdraw from the contract without giving any reason, within twenty-four months from the contract date, while reserving their right to withdraw. It is sufficient to send the notice of withdrawal to the seller through a notary public.

In the event of termination of the contract, the seller may request payment of expenses arising from taxes, fees, and similar legal obligations incurred due to the sale or promise of sale of the property, as well as compensation of up to two percent of the contract price for the first three months from the contract date, four percent for three to six months, six percent for six to twelve months, and eight percent for twelve to twenty-four months.

2. Form of Validity of the Contract

A pre-paid housing sales contract must be registered in the land registry. This is a condition for the validity of the contract. However, the parties can draw up a pre-paid housing sales promise contract in the form of a notarized document. Nevertheless, contracts made without adhering to the formal requirements stipulated by law are also valid for the consumer. In other words, the fact that a contract without formal requirements was not made cannot be invoked against the consumer. At this point, a pre-paid housing contract made without adhering to the formal requirements is also considered valid, and the consumer's rights are protected.

3. Consumer's Right of Withdrawal

We carry out your legal compliance processes in your company with the services we offer within the scope of the Law on Consumer Protection and our expert lawyer team.’According to Article 44 of the law; in prepaid housing sales, the transfer or delivery period cannot exceed 36 months from the date of the contract. After the contract is made, the consumer has the right to withdraw from the contract within 24 months without giving any reason or justification.

In the event of termination of the contract, the seller may request payment of expenses arising from taxes, fees, and similar legal obligations incurred due to the sale or promise of sale contract for the property, as well as compensation up to 1 TP3T2 of the contract price from the date of the contract.

However, if the seller fails to fulfill its obligations, or fails to fulfill them properly, it cannot demand any payment from the consumer. (Such as defective workmanship or failure to transfer and deliver the property within 36 months)

4. Obligation to Inform the Consumer

When selling a pre-paid home, the seller must provide the consumer with a pre-information form containing details such as the seller's title, MERSIS number, contact information, specifics of the independent unit being sold, cash and installment prices, interest rates, right of withdrawal, and the home delivery date. Pre-information is a legal requirement. For example, a seller who fails to provide pre-information and has not informed the consumer about the right of withdrawal will not be able to claim compensation or assert a right of withdrawal period against the consumer.

5. Project Changes

In prepaid housing sales, as with other projects, project changes may occur. In such cases, the project changes must be notified to the consumer in writing. The consumer is not obliged to accept the change and has the right to withdraw from the contract within one month of being notified. You can contact us for legal advice on this matter.

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