Real Estate in Turkey Common Real Estate Terms | Page 3

16. (Deposit or Earnest): This means the amount of money provided to confirm the desire to
purchase. It is non-refundable if the buyer retract from the purchase. It is not more than 2.5% of
the actual value of the property though.
17. (Instrument or Deed): This means the paper supporting the ownership of a real estate unit.
18. (Conveyance or Assignment): This means the assignment of the ownership of a property
from the owner to the buyer in exchange for a financial allowance equal to the value of the
property.
19. (Finishing): This means a group of construction operations relating to the exterior and
interior finishing of the construction structures.