Turkey · Transaction safety
How to transfer money safely when buying a flat in Turkey
Safety-deposit box, escrow account, notarial deposit, cash with a receipt — which method fits which transaction and which mistakes can cost you the whole sum.
The moment of paying is the most dangerous point in any property transaction. Until then, a fraudster invests time and charm; afterwards, they vanish. The tools described below all work on the same principle: the seller receives money after you receive the flat, or — at the same moment as you do.
§ 01
Methods of transfer
- 01Bank safety-deposit box
The most common method for cash. The buyer places the money in the bank's deposit box in the presence of staff. The seller obtains access only after producing the registered sale contract. The box rental is a token fee.
- 02Escrow account / notarial deposit
The cashless equivalent of a deposit box. The buyer transfers the money to a special account; the bank releases it to the seller only when the conditions of the transaction have been met.
- 03Escrow for a developer purchase
For new builds in many countries this is mandatory. The money is frozen until the project is handed over. If the developer goes bankrupt, the bank returns the funds. Never pay the developer 'directly'.
- 04Cash with a receipt
Acceptable only for small amounts (deposit, earnest money, rent). The receipt is hand-written by the seller: amount in words, date, basis, ID details, signature. In the presence of a witness. For a property purchase — strongly not recommended.
§ 02
What you must not do
- 01Transfer to an individual's card
Especially if the card is with a foreign bank. 'Send it to an acquaintance's card' under any 'personal request' is fraud. Once transferred, the money is virtually unrecoverable.
- 02Cryptocurrency
A property deal in crypto can be structured legally, but it requires a notary and a lawyer. 'Let's do it via USDT, it's faster' from a stranger is always fraud.
- 03Handing over money without witnesses
Never hand over a large sum one-to-one — at the seller's home or in a café. Only at a bank, a notary, or in a lawyer's office.
⚠ This material is for informational purposes only and does not replace legal advice. For major transactions always work with a qualified specialist in your country.