Buying property here is a relatively straightforward process and we have detailed below information covering the most frequently asked questions.  (TAPU = Title deeds)

 1. Who can own property in Turkey?
 2. How do I buy a property in Turkey?
 3. What is the legal process for buying?  “And the extra service we do for you”
 4. What is the process if the property is not yet built?
 5. What costs are involved?
 6. How long does the process take?
 7. Do I need to provide a Power of Attorney?
 8. Is a Residents Permit required before I buy here?
 9. Am I able to sell my property without restrictions?
10. What are the inheritance rules in Turkey?
11. What taxes are applicable?
12. Do I need insurance?

13. How do I send the money for my purchase?

 

1. Who can own property in Turkey?
Turkey has reciprocal agreements with many countries regarding purchase of land and property, with certain restrictions applying within (military zones) you can not buy in these zones. Those eligible countries are: United Kingdom, Australia, Austria, Belgium, Canada, France, Greece, Germany, Holland, Ireland, Italy, Luxemburg, Norway, Russia, Spain, plus some South American & African countries. Therefore foreign nationals from these countries may purchase land and property in Turkey in their own names, and when the time comes to sell, the proceeds of the sale may be transferred out of Turkey.

This is the law as it stands today.

 

2. How do I buy a property in Turkey?
Once you have found a property you want to buy, we will contact the seller and close the sale on your behalf. Most sellers want a 10% to 20% deposit. At this stage you will pay the deposit money and sign a contract, which will detail the property, purchase price, deposit amount and the timing and conditions for the payment of the balance. If, as is likely, you do not have the full deposit immediately available then most sellers will accept a nominal amount as a ``holding deposit`` and agree for the balance of the deposit to be transferred within a set period of time. If this is the case, these details will also be included in the contract that is signed, “We will negotiate this for you”. But the property owner has the final say in this matter.

 

The five basic steps are:

Agree a price for the property, sign a contract and pay the deposit.

Pay our estate agency fees.
Documents sent to TAPU office for clearance from the Turkish army
Clearance received back from TAPU office and balance of purchase price paid
Property registered in your name at the Land Registry and title deeds provided. (See below for full details of the legal process)

3. What is the legal process for buying?

The system of property ownership in Turkey is based on the title of the property being registered at the Land Registry in the owner’s name. Once you have found a property and had your offer accepted the process is as follows:

Copy of the existing TAPU (Title Deeds) of the property needs to be sent to the
TAPU office together with: Passport copy of the Buyer(s) 6 passport sized photographs of the Buyer(s)

The TAPU office undertakes a search along with the Turkish army to ensure the property is suitable for purchase by a foreign national (i.e. not in a designated `military` zone). This process should take 2 to 4 months, although recently has been taking as much as 7 months or more. However, a new law is due to be enacted, which should streamline this process and significantly shorten the length of time this takes possibly to the same day.

”Included in our service no extra cost”

 The following, very important checks for your safety and peace of mind.

“ALL PART OF OUR EXCELLENT CUSTOMER SERVICE”

1 The TAPU provided relates to the property being purchased
2 That the property is owned by the seller
3 That if owned jointly, that all parties comply with the sale
4 No annotations exist to prohibit sale or purchase of the property
5 The building complies with regulations
6 The current owner owes no overdue taxes to the Tax Office
7 The current owner owes no debts to utility companies
Upon receipt of the military clearance, the buyer and seller(or power of attorney holder) apply in person to the local Land Registry office for the transfer of title to take place.

 

4. What is the process if the property is not yet built?

For properties that are under construction there will normally be a stage payment schedule for specific amounts (% of the total purchase price) for the deposit and additional stage payments at specific stages of the build. These amounts and the stages will be detailed in the contract. As each developer sets these they will vary from project to project but will be fully explained to you before you sign the contract.
 

5. What costs are involved?    (TAPU = TITLE DEEDS)
The costs involved in purchase of a property are:
An agency fee of 3% is charged for the work we do for you.

0% commission if it is one of our constructions.
A `Land Registry` fee or tax is payable by you once the TAPU has been received, in order to register you as the owner of the property. It is 1.65% to 3.3% of the taxable value of the land and/or property.
Solicitor’s fees approximately £400.sterling this covers his fees and your legal translator fees, preparation and signing of contracts, together with his advice and services throughout the purchase process.

You will also require by law a legal translator in the Notre public, they will translate everything from Turkish to English or any other language as needed it will be around

£50.00  Sterling.
Notary fees again vary but will be in the region of £120.00. sterling
It is now compulsory to take out earthquake insurance on all property here in Turkey, this again varies dependant on the value of your home but will start at around £60.00.sterling We would also recommend that you take out a full house and contents insurance, however this is optional. We will help you get the cover you require.

6. How long does the process take?

From the time you pay your deposit until the Title Deeds are registered in your name, should be approximately 2 to 4 months. The majority of this time is awaiting the TAPU clearance from the Turkish army, and although recently this has been taking longer, a new law is due to be enacted, which should streamline the process and significantly shorten the waiting time. We can in fact complete all the purchase documentation, the signing of the contracts and the obtaining of the Power of Attorney, within the same day of you deciding on a property that you want to purchase from us.

7. Do I need to provide a Power of Attorney?

 If (as is likely) you are not able to be in Turkey throughout the period of the purchase process, when you are signing the purchase contract we can also arrange for you to sign a Power of Attorney, which delegates authority to us/lawyer for the limited use of the property purchase and registration this would include dealing with the TAPU and connection of utilities, most importantly, ensuring that the property is registered in your name.( if we needed to do extra paper work on your behalf you don’t have to fly here).   

You will pay a charge for this to the Notary and for the translator it only gives us the power to buy on your behalf not to sell. You can also give us/lawyer the power to buy or sell if it is needed and it is your wishes.

8. Is a Residents Permit required before I buy here?

You do not require a residency visa in order to purchase a property in Turkey. Tourist visa is issued at the airport upon arrival in the country at a cost of £10.00 sterling and are valid for multiple entries within a 90 day period from the date of issue. These visas will be sufficient for stays of less than 3 months. If you are looking to reside here for longer periods you will need to apply for a Residents Permit once you are here. Information on what documentation you will need to provide for this should be obtained from the Turkish Embassy in London before you depart or on the Internet. A Residents Permit is a necessity if you wish to set up a phone, internet, clear any personal goods or a car through Turkish customs you can obtain a 1,2,3,4,or 5 year Residents Permit. Please check the internet for prices (around £200 a year)

9. Am I able to sell my property without restrictions?
Once you are the registered owner of a property, the sale of this is unrestricted and the proceeds of the sale can be taken out of Turkey.

10. What are the inheritance rules in Turkey?
As a European you can dispose of your property in whatever way you wish (within the laws of you home country), but you must make a will to ensure that this happens. If you don’t make a Turkish will your English will can be translated and is treated as valid in Turkey and used to distribute your estate.

11. What taxes are applicable?
Capital gains made from the sale of a property will be taxable in Turkey if the owner is a Company. Individuals do not have to pay Capital Gains Tax, provided they have owned the property for more than 12 months. In the UK capital gains may be taxable depending on the individual’s situation. There is also an Annual Real Estate Tax, similar to the Council Tax in the UK, based on the declared value of the property and is payable every 6 months to the local municipality (council).

12. Do I need insurance?

It is now compulsory to take out earthquake insurance on all property in Turkey, the cost of this varies dependant on the value of your home but there is a uniform national tariff with costs starting at around £50.00.sterling We would also recommend that you take out a full house and contents insurance, however this is optional we will help you get the cover you require.

13. How do I send the money for my purchase?

You will transfer all monies to our company bank account once all paper work is complete and we are certain things are in order. We will release the appropriate amounts to the person you have made your contract with. At this time we will make them write a bond to cover the amount received. This bond gets your money back under Turkish law should there be any problems.

 No single person from our office can withdraw funds from the company account two signatures from Company directors (one English and one Turkish) are needed and of course all records are kept and will be handed to you in your completion folder or at any time by request.

We hope this info gives you peace of mind if you have any more questions not listed please ask.

Email… no1turkishhomes@yahoo.com