New Arrangement for Property Sales from Mockup
New arrangement for property sales from mockup has been announced. Accordingly, the buyer will be able to cancel contract from the contract date within 24 months without any justification. The buyer contract will pay compensation up to 8% against the cancellation.
Accordingly, the buyer will be able to cancel contract within 24 months from the contract date without any justification.
In case of cancelling the contract; the expenses arising from the taxes, fees and similar legal obligations arising from the sale or sale promise contract. And 2% of the contract price for the first 3 months, 4% for the 3rd to 6th months. Also, 6% for the 6th to 12th months, 8% for the 12th to 24th months from the date of the contract can be deducted from the refund by developer.
Previously, if the developer had the right to deduct 2% of the contract price in case of any cancellation.
New arrangement for property sales from mockup:
RELATED REGULATION FULL TEXT
ARTICLE 8 – The first paragraph of Article 45 of the Law No. 6502 on the Protection of the Consumer, dated 7/11/2013 has been amended as “ninety days” in the following paragraph and in the third paragraph of the same article.
“(1) Up to twenty-four months from the date of the contract for the sale of prepaid housing, the consumer has the right to cancel without any justification. In case of cancelling the contract; The expenses arising from tax, duties and similar legal obligations arising from the sale or sale promise contract of the dwelling, as well as two percent of the contract price for the first three months from the date of the contract, four percent for three to six months, six percent for six to twelve months, And up to eight percent for twenty-four months deduction will be applied to refund regarding to the cancellation.