The first document to look at before going to market is the encumbrance certificate. Every restriction on the title record appears there, and it prevents surprises on the day of sale.
What an encumbrance certificate is
It is the document obtained from the land registry office showing every entry on the property. Entries such as a mortgage lien, an attachment, a usufruct right, an annotation of a promise to sell and an expropriation annotation are listed there.
You can also view the document through e-Devlet. Looking at it the day you decide to sell lets you set the process up correctly from the start.
Mortgage lien
It is usually registered in favour of a bank because of a housing loan. A property with a lien can be sold; in practice the debt is settled during the sale and the lien is lifted the same day.
Find out the outstanding balance and any early settlement cost in advance. This directly affects the net figure you receive from the sale.
Attachments and other annotations
An attachment is imposed through enforcement proceedings and the creditor's right stays on the property. The title should not be transferred until it is lifted.
An annotation of a promise to sell shows an undertaking to sell the property to someone else. Its presence effectively blocks a new sale.
Joint ownership and shares
If the property is held in shares the other co-owners have a right of pre-emption and a loan is usually not possible. The number of co-owners and the agreement between them should be clarified at the outset.
A property received through inheritance cannot be sold until the transfer of succession is completed. As this takes time, it should be built into the sale plan.
Related sections of this guide
- I want to sell my home: the process from start to finish
- How is a title transfer carried out and what does it cost?
- Construction servitude, condominium ownership and the occupancy permit
Terms from the glossary
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As Konutkent Gayrimenkul we run the sale of your property with you from start to finish: valuation, deed checks, listing, buyer meetings and the title transfer. You can ask your questions by telephone or fill in the application form.
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