Is it OK to buy the mortgaged property at a cheap price and pay a mortgage in Turkey?
Mortgage: is taking a loan from the bank in order to buy a property, or the bank pays the price of the property in return. The buyer pays the price of the property to the bank with its interest in the form of monthly installments. The property remains under mortgage until all installments are paid to the bank, as the bank will not transfer the ownership of the property to the buyer before paying all the installments incurred by the buyer.
But in some cases, the buyer is forced to sell this property while it is under mortgage due to his inability to pay the bank installments for some reason
Some investors like this method of buying real estate at a cheap price in Turkey, but on the other hand, foreign investors, due to their lack of good knowledge of Turkish law, may lose the property even after installments due to a small mistake the buyer made unintentionally, so this method is considered very dangerous for the investor, so it is not recommended Never way for foreign investors.
