Secure Payment Era Begins in Real Estate Transactions

As of October 1st, the use of the Secure Payment System becomes mandatory for real estate sales. With this new regulation, financial risks in the sales process are eliminated, ensuring protection for both buyers and sellers.

How Will the System Work?

1. Payment Transferred to Secure Account

The buyer transfers the purchase amount for the real estate to a secure account established with an authorized financial institution.

2. Funds Placed on Hold

The transferred funds are placed on hold in the secure account until the title deed transfer process is officially completed.

3. Funds Transferred to the Seller

Once the transfer and registration process at the Land Registry Office is complete, the held amount is automatically transferred to the seller's bank account.If the Sale Does Not Take Place: If the transfer process cannot be completed for any reason, the held funds will not be transferred to the seller and will be refunded to the buyer.