What does it mean to get a bank guarantee in Turkey?
Bank Guarantee Properties in Alanya from Riviera Invest
Riviera Invest now offer bank guarantee for all our property sales. This give you 100% security for your money if something unexpected will happen, for instance you don't get your Title Deed (Tapu) in the agreed time. The bank guarantee also secure that you as a customer avoids any legal action in a Turkish Court to get your invested money back. This might be a big advantage for you, as a foreigner and under an - for you - unknown legal system.
Our Turkish bank, Türkiye Finans, will make an official document, the bank guarantee, for the property you are buying. It gives a guarantee for the money you are investing. Then,for instance if you don't get your Title Deed (Tapu) in the agreed time - e.g. in one year - you will get your money back. If you want, you can use your bank guarantee after the Expiration Date, without involving Riviera Invest.
You can also choose if you want your bank guarantee to be in your home country bank or in your Turkish bank. This also means that you can choose if you want the money paid back to your home country bank or to your Turkish bank account. When you get the Title Deed (Tapu), the bank guarantee of course will be canceled.