With the increasing interest rates, people keep them away from buying home. This interrupted to home buying and selling and thus builders have difficulty in selling their buildings. Therefore, builders focus on campaigns and attractive payment options for their customers to increase the sales.
According to Hatice Kolçak, who is the vice president of TÜSODER ( Association of Consumer Problems ), some consumers suffer from these attractive payment options. They do not need to examine in detail of papers they signed. Thus, when a problem occurs in future, they have to pay extra money which they do not have to pay.
According to laws in effect, valuable papers like bond have to be prepared for every partial payments, not for the whole debt.
According to laws in effect, valuable papers like bonds are independent from casual relation and thus, if the beneficiary of the bond negotiate the bond to other people, the debtors of the bond have to pay the amount of the bond even if they did not get the home. Thus, consumers have to be careful at preparing and signing the bond.
The bonds that are prepared at buying home should be in the name of holder. In other words, the name of beneficiary should be written on the bond. And the bonds should contain non negotiable note on the back side of them. By this means, if the bonds change hands, it is meaningless for the debtor.
Consequently, if the consumer decides to buy home with bonds, they should be careful at preparing them. If the bonds are prepared for every partial payments, in the name of holder and non negotiable note on the back side are written, there would be no surprise in the future time for consumers. They should be careful for not suffering next.