On the legal procedure side there are differences also between ready and off plan units. For example in Turkey there are 2 different type of title deeds as pre-title deed (kat irtifakı) which is given during construction period and final title deed (kat mülkiyeti).
When the investor buys an off-plan Property, if there is no due to the construction company and if the title deeds are ready they will transfer to the investor pre-title deed. The point is that especially in Turkey when the title deed is not ready during construction process the investors cannot apply the nationality process if they think to get or they can’t use their units as financial assets (in case of ask credit from the bank ).
As a conclusion to solve this dilemma, the investor side should decide first what is the purpose of this purchasement. Most people think that in the case of investment purposes, off-plan Property is better but when we think about the risks sometimes it can be a different scenario. The investor should think all the facts and need to decide according to purchasing parameters.Written by Mr.Ersin Oksuzoglu .Founder of EOS Turkey Property