Secure Payment System Goes Live on October 1

Ankara All Realtors Professional Tradesmen Chamber President Burak Arpacı made evaluations regarding the Secure Payment System planned to be made mandatory by the Ministry of Trade on October 1.

Purpose of the Secure Payment System

Within the scope of the amendment made in the Regulation on Real Estate Trade by the Ministry of Trade, the Secure Payment System planned to be mandatory as of October 1 aims to prevent buyers and sellers from being exposed to the risks of fraud, theft, and forgery.

Accordingly, in order to make real estate trade safer, it is aimed to reduce informality and carry out money transfers in a secure environment.

Simultaneous Money Transfer

With the system created for the safe and simultaneous exchange of the sales price in real estate sales, the money paid by the buyer cannot pass into the seller's account until the transfer of the real estate at the title deed office is completed.

Thus, the ownership of the real estate and the sales price will change hands at the same time.

Contribution of Realtors to the Process

In the secure payment process to be carried out through banks and title deed offices, realtors will also assist the buyer and seller regarding the use of the system.

Statements by ATEM President

ATEM President Burak Arpacı stated that the system closely concerns everyone from citizens to real estate businesses.

Pointing out that the system is a useful application to prevent grievances of citizens, Arpacı emphasized that there is no situation where realtors are bypassed.