Real Estate Sales Specification

  • Our bank is entitled to sell or not sell or sell the real estate to any individuals and organizations under any condition as it is not subjected to the Law No. 4734 and No. 2886 and relevant regulations of these laws.
  • It can use one or more of quote collection, bargaining, auction, sealed bid, electronic auction, and other sales methods for sale. It can transfer the sales process that began with one of these methods to another method.
  • Some of the determined prices are indicative prices and the final sales prices are determined by our Bank at the end of the quotation process.
  • The sales prices do not include VAT as our Bank is not a party liable to VAT and VAT is not added during sales.
  • Announced sales prices are the cash sale price and does not include terms.
  • In the event that the real estate sold by our bank is desired to be credited, the ordinary credit facility process is applied and there is not any commitment concerning whether or not credit will be given during sale.
  • Our Bank revises the prices of our real estate put on sale in parallel with the general economic conjuncture.
  • The information on the real estate are not in encumbrance nature but in general information nature. The bidders will be deemed saw, liked and agreed to the existing legal and actual status of real estate (tenant, occupant, damage, share, zoning, housing, location, area, site, public housing allocation, rights of repurchase, pre-emption, blameworthiness, deficiency, any and all commentaries, cases, land register data) and shall not have any right to object and claim anything from our Bank.
  • Within 2 days following the informing of the approval of the proposal 5% security deposit shall be paid and sales price shall be paid in 10 days and the deed needs to be collected. 5% security deposit will not be returned to the buyer and they will be recorded as revenue to the bank if the price is not paid on time or the buyer decides not to buy the property. In the event of the sale, the deposit amount will be deducted from the cost of sales.
  • In the title deed transactions, Seller Title Deed Fees and Working Fund Accounting Fee is born by our Bank and Buyer Title Deed Fees belong to the buyer. As a general rule, title fees are calculated on the sales price. However, if the Municipal Current Market Value is higher than the sales price, it will be calculated over the Current Market Value.
  • Bidder, either before or after bidding, accepts, declares and undertakes not to claim any right or receivable from our Bank and that the transfer debt of the real estate/ real estates of our Bank is / are the balance once Development Readjustment Share (DRS) are taken in the event that the real estate/ real estates' subject to the bid are subjected to the development plan implementation process by the municipalities and a part of the real estate/ real estates' are taken as Development Readjustment Share (DRS) regardless of the name under return, damage, compensation, and so on.
  • Istanbul Central Court and Executive Offices are authorized in the resolution of disputes arising from tender and sales transactions.