Title and Deed Security Warning in Mortgaged Housing Sales
Critical recommendations have come from legal experts to prevent fraud and victimization in real estate transactions.
Real Estate Lawyer Murat Tezcan issued warnings against legal risks that may be encountered in mortgaged housing transactions, pointing out that no payment should be made before the title deed transfer is completed.
Main Risks Encountered in Mortgaged Housing Sales
Among the legal risks that may be encountered during the title deed process when buying a home, mortgaged properties come first. While there is no legal obstacle to the sale of a mortgaged house, the real risk arises during the stage of how the payment is made.
Most Common Faulty Methods Fallinto by Buyers
Stating that most of the files before them share the same scenario, Real Estate Lawyer Murat Tezcan expressed that buyers face situations such as the seller changing their mind after paying the money or attachments being placed on the house.
Hidden Dangers of Limit Mortgages
Experts stating that banks mostly establish the mortgage as a limit mortgage warn that this situation may also cover the seller's other debts at the bank, such as credit cards or commercial loans.
Secure Payment and Mortgage Removal Methods
Obtaining the amount required for the removal of the mortgage from the bank in writing and depositing the money directly into the bank is shown as the safest way. It is recommended that the sale and mortgage removal transaction be carried out at the land registry office on the same day.