When buying or investing in property in Turkey, one concept that often arises is the “Promise to Sell Real Estate Agreement” (Taşınmaz Satış Vaadi Sözleşmesi). While it may sound complex, this agreement is actually a common tool used to secure future property transactions and protect the rights of both the buyer and the seller.

What Is a Promise to Sell Agreement?

A promise to sell agreement is essentially a preliminary contract between two parties – one promising to sell and the other promising to buy a specific property in the future. Unlike a full sale contract, ownership of the property does not immediately transfer. Instead, it guarantees that the actual sale contract will be completed at a later date.

This arrangement is especially useful when the parties are not yet ready to finalize the sale. For example, the property may still be under construction, financing may not be completed, or the parties may wish to wait for more favorable conditions.

Why Is It Common in Practice?

In Turkey, these agreements are frequently seen in prepaid housing projects. Developers often sell apartments before the building is finished, and buyers secure their rights through a promise to sell agreement.

The main advantages include:

• Flexibility: It allows parties to reserve a property without immediately transferring ownership.

• Legal Assurance: It gives the buyer confidence that the seller is legally bound to complete the sale in the future.

• Protection Against Withdrawal: If one party changes their mind, the other can enforce the agreement in court.

Legal Requirements

Turkish law requires these agreements to be made in a formal way. Specifically, they must be notarized. If they are not prepared by a notary, they are considered invalid. Additionally, they can be registered at the land registry, which provides further protection by making the buyer’s right visible to third parties.

What Rights Does It Provide?

It is important to understand that a promise to sell agreement does not immediately transfer ownership of the property. Instead, it gives the buyer a personal right – meaning they can demand the completion of the sale from the seller. Once registered in the land registry, this right becomes stronger and can be enforced against others who might later try to purchase the same property.

Why Should Foreign Investors Care?

For foreign investors, these agreements are especially valuable in cases such as:

• Purchasing property from large housing projects still under development.

• Securing a property while arranging for financing or residence permit procedures.

• Protecting investments against possible disputes or double sales.

Final Thoughts

The promise to sell real estate agreement is a trusted legal instrument in Turkey. While it does not immediately transfer ownership, it provides both security and flexibility, ensuring that the buyer’s future purchase rights are legally protected.

Before signing such an agreement, it is always advisable to seek professional legal advice to make sure the contract is properly drafted, notarized, and – if needed – registered with the land registry.

Key Benefits for Investors

• Security: Protects your right to buy, even before the property is ready.

• Flexibility: Useful for housing projects under construction.

• Legal Protection: Can be notarized and registered at the land registry.

Important Legal Points

• Must be notarized to be valid.

• Can be registered in the land registry for extra protection.

• Gives the buyer a personal right, enforceable against the seller.

Why It Matters for Foreign Buyers

Foreign investors often use these agreements to secure apartments in new developments or to gain time for financing and residency procedures.