Istihale is Turkey’s 1st and Only Property Auction Company.
We are dedicated in providing a fast, smooth, and transparent service of buying and selling Real Estate to clients through our auction commerce system.
Here are some frequently asked questions about our services and auction process. You should find your answer here. If you don’t find your answer here please feel free to contact one of our team members on +90 (212)-803-71-22 or email us at firstname.lastname@example.org.
Why Sell with Istihale ?
1. What are the benefits of selling your property with Istihale’s auction system?
There are many benefits of selling at an auction. These include but not limited too:
❖ The process of selling is fast.
❖ There is a high degree of certainty that the property will be sold on the auction day.
❖ A legal binding contract is formed on the fall of the hammer on the auction day
❖ The buyer is committed to pay the price agreed on the day of the auction, without further long winded and unnecessary negotiations which are common when selling with a Real Estate Agency.
❖ The process is transparent, where all bidding is open in the auction hall.
❖It provides the property seller the assurance that the best price will be achieved with the open competition in the Auction Hall
2. What is the auction process ?
The auction process is as follows:
We provide a no obligation appraisal, where we will value your property and determine whether the property is right to sell with our auction.
Here we discuss with you terms and conditions of Sale
Istihale and the seller will agree a minimum reserve price and thereafter the seller with sign a confidential agreement setting the reserve price which Isithale cannot sell below the price agreed and signed in the Contract.
This price is kept confidential between Isithale and the Seller.
Unlike how, Real Estate Agents work here in Turkey, there is no current or fair commission system and Real Estate Agents can charge anywhere between 2% to 10%.
ISTIHALE’S COMMISION FOR SELLERS IS A FIXED RATE OF 2% of the sale price. This is regardless of the price we achieve.
In the unlikely event we don’t sell your property, we do NOT charge the Seller anything.
Every property we are instructed to sell will benefit from our intensive marketing campaign.
WE DO NOT CHARGE ANY MARKETING OR UPFRONT FEES.
WE COVER ALL COSTS of marketing, photography and advertising for the seller. Our Team of professional photographer’s will take extensive photographs of your property as well a 360 Video Tour of all the rooms, where all potential buyers will see your property in the best possible way.
We have a database of over 100.000 customers both within Turkey & abroad and will Market your property extensively in both national and international periodical’s.
We also exhibit our company and real estate portfolio’s monthly in various Real Estate Fair’s attended by thousands of potential buyers across Europe and the Middle East.
Our capability and capacity are much higher than a typical based Real Estate Agent in Turkey.
Step 4 – VIEWINGS OF THE PROPERTY
4 Weeks prior to the Auction Day we will hold once a Week an Open House day for your property, where all potential buyers can view the property.
The viewing days are agreed with the seller and set 4 weeks in advance and are published in our auction catalogue and are sent out to all registered and interested buyers.
Step 5 —AUCTION DAY
Interested and Registered buyers will be given a Numbered Bidding Paddle on the day of the auction, where they will be able to bid for the property.
On the fall of the hammer, the property is sold and all bidding is closed, whereupon the successful buyer will be ushered by a member of our team to our contracts desk, where the buyer will sign a legally binding sales contract and will pay a 5% deposit.
3. How long does it take to sell at auction ?
In essence we sell your property in 1 day, on the day of the auction sale and thereafter it takes a maximum of 14 days for contracts to be completed and the seller will receive their remaining funds.
4. How often are your Auction’s ?
Our Auctions are held once a month.
5. Is there any criterion on deciding the selling price of a property ?
Yes there is, we only accept properties to sell at our auction that are priced realistically and competitively to attract as many buyers as possible and too get the Seller the best possible price on the day of the Auction.
Istihale will appraise your property for free.
Please Note….in the event you property has been marketed with a Real Estate Agent and you still cannot sell your property until now, the chance’s are that your property is incorrectly priced.
We strongly emphasise that you expectation and property is priced realistically.
6. Why Should I Sell My Property at Auction with Istihale ?
There are a plethora of reasons why property owners in Turkey are now deciding to sell their property with us,
1. We have given a new dimension to Turkey’s real estate sector by launching the first ever and the only public auction house for selling properties.
2. Our organised and business structure is not currently available when you sell your property with a Real Estate Agent.
3. We provide investors, buyers and sellers a common platform to come together and take advantage of property buying and selling in the most transparent and fair possible way.
4. At Istihale, we have a team of dedicated real estate experts, who are multi-lingual in Turkish, English & Arabic, who have unrivalled knowledge in the Real Estate Sector that enables Istihale to provide you with the best possible service.
5. With us, the seller is 100% safeguarded by setting a minimum acceptance price for the property.
6. Our excellent marketing strategy and wide networking capabilities enables us to bring bidders from all over the world providing sellers a better chance of getting a good price and the selling of their property in the fastest possible time.
7. Besides this, we make sure that all trading and auctioning is done in compliance with the Turkish Legal System.