Law Amendment Regarding Prepaid Dwelling Sales

According to the amendment of the Consumer Protection Law Numbered 6502, article regarding Backdown from the Prepaid Dwelling Sales Contract has been changed.

In accordance with the article number 45 before the amendment dated 02.01.2018; The consumer was entitled to backdown from the Prepaid Dwelling Sales Contract without showing any valid reason until the date of deed transfer or key delivery. In case the buyer backdowns from the contract, seller was entitled to claim tax, duty and expense arising from sales/sales promise of the dwelling and also compensation up to 2% of the sales price agreed with the contract.

After the amendment dated 02.01.2018, The consumer is entitled to backdown from the Prepaid Dwelling Sales Contract within 24 months from date of signature on the contract. In case the buyer backdowns from the contract, seller would be entitled to claim tax, duty and expense arising from sales/sales promise of the dwelling and also compensation up to;

• * 2% of the sales price if buyer backdowns within 3 months,
• * 4% of the sales price if buyer backdowns within 3-6 months,
• * 6% of the sales price if buyer backdowns within 6-12 months,
• * 8% of the sales price if buyer backdowns within 12-24 months from date of signature.