Buying property in Turkey
Buying property in Turkey and buying in the Europe are similar experiences. The main difference is the requirement to obtain permission from the military to purchase the property prior to completion, as non-nationals are only permitted to buy within a designated town area.
Stages
Viewing properties
We will take you out as many times as you require (at no charge)
Deposit
When you have found your property and have agreed the price you will be asked to pay a deposit. The deposit is usually (20 % ) of the purchase price as agreed with the owner. However if you can not pay it all at this stage you will be asked for a holding deposit (normally €1000) with the remainder of the deposit payable on your return home.
Contract
A contract will be drawn up between yourself and estate agents in Turkey, and will be witnessed by a solicitor. It is also at this stage that you will be asked to pay the estate agents commission which is 3% of the purchase price.
Paperwork
A copy of your passport will be taken to the government offices where it will be translated and sent off to the army headquaters at Izmir for authorization. The deeds will be applied for and all necessary checks on the property will be carried out.
Power of attorney
You may wish to appoint a power of attorney at this stage. This gives the appointed person the right to obtain the deeds and transfer them into your name. This will save you having to return to Turkey when the deeds are ready.
Deeds
When the deeds have been returned (usually 8-12 weeks) and all the checks have been approved you will be asked to send the balance of payment. When the money has been received the deeds will be transferred into your name. In this stage the lawyer will ensure that there are no debts outstanding on the property – which would pass to the new owner. Once he is satisfied everything is in order with the property title both the buyer and seller are required to be present at the Land Registry office, but your appointed solicitor to sign on your behalf.
Congratulations
The property is now yours to enjoy.
We always provide you with all the information that we can, especially on the likely costs of the process and any other information that you feel that you should need.
Should you require any further information, please contact us and we will be more than happy to help you find your dream home.
