İstihale Müzayedecilik İnşaat Sanayi ve Ticaret Limited Şirketi (hereinafter referred to as “İstihale”) headquartered in Levazım Mahallesi , Koru Sok. Zorlu Center R2Kule No:202 Beşiktaş/ İstanbul is putting the properties listed below on the market, pursuant to the agreement entered into with the property owners, for sale by auction in which property owners assess bids made on the auction day.
The auction will take place in the ……………… address abovementioned on …/…./ 2018 at …… o’clock. The bids will be made during the session by means of an auction.
The real persons and legal entities that are going to participate in the auction shall, before the session, place TL5,000 deposit for each property with İstihale Müzayedecilik İnşaat Sanayi ve Ticaret Limited Şirketi, account IBAN numbered TR89 0006 2000 65 10 0006 2989 24 in Garanti Bank, İstinye Park Branch Office.
Each real person or legal entity who has placed the participation deposit and has signed this Agreement stating their intention to bid, will receive a separate numbered bid flag per each deposit placed. The bid flag of the bidder with the highest bid will be collected.
The highest bidder in the auction shall immediately pay 5% of his offer for the sale price (2%+VAT of which is the real estate commission fee to be paid to İstihale + the rest for the downpayment to be paid to the property owner) to the bank account IBAN numbered IBAN for İstihale Müzayedecilik İnşaat Sanayi ve Ticaret Limited Şirketi in TR89 0006 2000 65 10 0006 2989 24 in Garanti Bank, İstinye Park Branch Office. Following this payment, on the tender day and/or the second day, İstihale will present the buyer’s offer for the sale price to the property owner/owners. If İstihale receives a written acceptance from the property owner for the offer, the offer amount will be considered the sale price. The sale will be final once the sale price is paid in full within the term specified below. Bidders agree, declare and undertake that they are bound by their offers for 5 days.
In the case that the property owners accepts the offer, the buyer with the accepted offer shall, at the latest in 5 (five) days (2%+VAT of the participation deposit fee paid on the tender day is the real estate commission fee and the rest is the buyer’s deposit) set off his deposit from the sale price and pay the remainder balance in cash and in full to the bank account of the property owner.
Property owners have a right to sell or refuse to sell to buyers with offers below the sale price determined or a right to withdraw the property from sale by auction. In cases where the property owner withdraws from the sale, İstihale shall return all participation deposit fees placed for the property to the bidders. The bidders agree, declare and undertake that they shall not seek any interest, indemnities, etc. from the property owner and/or İstihale for the period in which the deposit is returned. The deposit fee will be returned in 10 (ten) business days.
In cases where the reasons for failure to sell the property are unrelated to the bidder, the deposit will be returned to the bidder in full.
The participation deposit fee of all bidders (unless they received the right to buy a property) shall be returned in full to their designated bank accounts in 10 (ten) business days at the latest.
Upon the written acceptance of the offer by the property owner and the payment of the sale price in cash to the property owner’s account in 5 (five) days, the necessary proceedings for finalizing the sale will be started. The property owner and the buyer shall separately pay purchase and sale taxes, expenses for the transfer of a title deed, etc. as well as their share of the real estate commission fee.
The information provided from the website with regards to the properties, brochures and pamphlets shall be regarded as general information and are not undertakings. The bidder shall be deemed to have seen, inspected and approved of the property in its current status (tenants, damages, shares, occupancy, permits for public works or residency) and in the future shall not have any right of objection or request from the property owner and/or İstihale regarding such. The appraised values of the properties presented for sale have been determined in accordance with their current standing so requests for repair or maintenance may not be made to the property owner.
İstihale may withdraw any property from sale before or during the auction and/or during the offer period.
Bidders are bound by amount their bids reach during the auction. Following the written acceptance of the property owner of the highest bid, if the sale price is not paid in full in 5 (five) days, 2%+VAT real estate commission fee will be deducted from the deposit placed on the tender day and the remainder balance will be returned to the bidder’s designated bank account.
The appraised values and the offers made on the auction day for the properties are the approximate sale prices for the properties excluding tax. The bidders are aware that, in addition to the sale price, it is their obligation to pay VAT, the real estate commission fee for 2%+VAT and the title deed taxes and expenses that, by law, fall on the buyer.
If the sale price or the expenses provided above are not paid in the specified time period or the Agreement is not signed, the real estate commission fee for 2% +VAT shall be deducted from the deposit placed on tender day and the remaining balance be returned to the bidder. İstihale shall send, by post, an invoice for the amount for the real estate commission fee to the address of the bidder.
Bidders irrevocably agree and confirm that they have read this “Conditions of Sale by Auction”, that they are informed about the auction to be held and that they are aware of the conditions and stipulations of the auction as bidders.
Bidders shall provide their address and bank account information at the end of this Agreement at the time of signing and shall attach a signed photocopy of their identification card, signatory circular and /or an original copy of a power of attorney to the signed copy of this Agreement. Neither the property owner nor İstihale are responsible for any delay or failure in the receipt of posts sent to the addresses provided herein.
İstihale , reserves the right to make amendments to the conditions set out in this Agreement. The changes made shall be published on the ………………………. website.
All conflicts that may arise may be resolved by papers and documents provided by İstihale, voice and video recordings of the auction and shall be considered exclusive, binding, conclusive and legal evidence and shall be considered written evidence under H.M.K. article 193.
All conflicts arising from this contract will be handled by the Istanbul Courts and/or enforcement agencies.
This Agreement has been signed in English and Turkish. In case of a discrepancy between the versions, the Turkish version shall prevail.
I accept and declare that I have read this Conditions for Sale by Auction, consisting of 20 provisions and 3 pages. …../…./ 2018
Name :
Surname :
Address :
Phone No :
Bank account:
Enclosed: Signed copy of identification card / signatory circular/ power of attorney
