by Melih Alsaç
What is a Housing License?
A housing license is a document issued by municipalities and obtained as a result of inspections carried out during the construction of a building. This document shows that the building has been completed and made suitable for living. The occupancy license also includes various technical details regarding the use of the building and offers various advantages to the building owners.
The Importance of Housing in Real Estate
The importance of the occupancy license in real estate is great. First of all, the title deed transactions of a building that has received a occupancy license take place more quickly and smoothly. This document, which shows that the building is suitable for use, provides assurance to the owners and facilitates the title deed transfer process.
In addition, the value of a building without a certificate of occupancy may decrease. Potential buyers may hesitate, thinking that a building without a certificate of occupancy may be prone to legal and technical problems. This may make it difficult to sell the real estate and cause a loss of value.
The Role of Settlement with Examples
For example, for a real estate buyer, whether or not a building has a building permit may affect future plans. A building without a certificate of occupancy is less likely to have the potential to increase in value later on. It should also be noted that buildings without a certificate of occupancy may also cause limitations in the use of credit.
How Does the Housing License Affect the Trading Process?
A housing license is an element of assurance in real estate buying and selling processes. For both the buyer and the seller, the existence of this document makes transactions safer and smoother. The housing license is a fundamental carrier of trust and stability in the real estate market.
As a result, the role of the occupancy license in buying and selling real estate is large and important. This document establishes the legal status of a building and builds trust between buyer and seller. Real estate investors and buyers can make a more solid and reliable investment by paying attention to this document.
