|

Buying property in Turkey for sale is not as complicated as
you might imagine. The procedure is often far simpler than in most other
European countries.
Foreigners may purchase land and property in Turkey under
their own names provided that properties are not located close to a military
zone,airports and they are allowed to buy property in Turkey providing it has a
goverment Title Deed recorded at the land registry Office.
After an agreed sale, in order to acquire the title of a
property, an application has to be made to the local Land Registry Office. The
title may be transferred once checks have been made to ensure the property meets
all necessary requirements.
When both sides ( purchaser & seller ) are agreed about the
sale,the agent will prepare the contract which will explain location of property,agreed
selling price,name of buyer and seller,payment periods and other details.
A lawyer/solictor is not needed in Turkey for to buy property.Most
of the buying and selling procedure simply done in the notary offices who has
the power of duty in Turkey.But solicitor can be arranged by your local agent
according your wish.
Buying process can take a few weeks as the Land Registry
office needs the official permit papers from the military administration .
There is no time restriction for reselling property after
having bought, you can get it registered in your name and resell it the next day.You
can also let your property by your agent.
When The purchaser gets his tapu ( Title Deeds ) he should
pay % 3 stamp duty and buying tax according to the valuation of the propety to
tapu Office.
The buyer and seller must pay a % 3 agent's commission.
These are standard terms offered by all Turkish estate agents.
Remember, that to reserve a property you will need a 10% for first deposit.
Cash is the easiest way to pay the deposit but if you have“nt got enough with
you, you can also transfer deposit to your agent when you get back to your
country. A money transfer from your country to Turkey takes about 3 to 5 days.
We do recommend to all of our clients to arrange a full insurance for their
property which costs about £300 - £600 according to the value of the property.
If the purchaser have no time to come to take tapu ( Title Deeds ) to his name,
he can give buying power of attorny ( just gives power to buy the property on to
purchaser name) to his agent eirher in notary in Turkey or in Turkish consulate
in abroad.Then the agent can easily finish the buying process and get the tapu
on to purchaser name.
|