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Buying Procedure
 
Buying property in Turkey is a straight forward process, and often easier than in other European countries.


1. Once you have seen a property in Turkey that you would like to purchase you will need to find the deposit. This is payable by cash or credit card – Personal cheques are not accepted by banks here in Turkey. An initial payment of 10-20% of the property price is usually required. The exact figure will be confirmed individually with the house owner at the time of purchase. When this is paid a receipt is given.the amound received is written into the contract.

2. You will need to have your passport with you. Photographs are also required; your agent will be able to show you where the nearest place to get these done is. (approx £4 for 8 photos).

3. Then you should visit the Solicitor who will prepare the purchase contact. They are there there to help you. You are paying for their services so please use this time to ask any questions you may have.

4. Should you not be present in Turkey for the actual purchase of your property, you then need to go (your agent will accompany you) to the Notary's office (similar to Notary public in the UK) to sign a document giving your agent power of Attorney for the property, not for money. This enables the agent to continue with obtaining the Title Deeds in your absence. Usually then you will return to the solicitors office, where the sale contract showing the property address and payment details will have been drawn up and be signed by you the purchaser(s) and your agent.

The initial stage has been completed and you do not need to be present for any more of the property purchase transaction. This process only takes a few hours.

You will be given the original contract and copy of the power of Attorney to take back home with you.

The same day or the next day your papers are forwarded to the Land Registry office for all documentation relating to the purchase is then forwarded to the Land Registration office in Izmir. Here everything is checked and then the title deeds ( TAPU ) are re-issued in the new owners name and forwarded back to the local Land Registration office who, in turn contact your agent. This process usually takes 6-8 weeks.

Your agent will advise you of this when it happens. At this time you will need to pay the final balance plus the 3% property tax.
Upon receipt of this we can then sign for and collect your TAPU from the Land Registration office on your behalf and this will then be held in the office pending your next visit and collection.

 

On top of the purchase price, are there any extra taxes or fees payable?
 

Yes, There are some extra costs.

• A 3% of the property value tax. This is a once off payment and it is due for payment once the TAPU is received.

• The solicitor's fee. Prices start from about £200.00 pounds and will vary depending on which solicitor you choose to use.

• An approximate £100 Notaries Charge for giving us the Power of Attorney to handle the documents relating to the property in your absence.

• A 3% agency fee that covers all agents commision and charges. This is usually payable at the time that the contract is made, together with the initial deposit payment on the property but may be able to be negotiated in certain circumstances.

• It is compulsory to have earthquake insurance and we recommend you take out Full insurance home and contents cover as soon as the house is registered in your name.(the cost of this varies depending on the value of the property, it's contents for the number of months it will be occupied.) Approximately £150

• The connection of Water and Electricity into your name so the bills will come directly to your house. Does not apply to some properties.

This is an idea of costs for the purchase of a property of £50,000

  Property price £50,000
  Tax @ 3% £1,500
  Solicitor £500
  Notary's fee £100
  Agency Fee @ 3% £1,500
  Full insurance
(incl. earthquake cover)
£150
  Utility
Connections
£180
 
  TOTAL £53,930

Once you have received your TAPU there are some other charges, which need to be paid. We estimate annual costs per property to be as follows:

  Electricity £120
  Water / Sewage £50
  Gas £25
  Rubbish removal £10
  Site maintenance £200
  DigiTurk Satelite TV £150
  Council tax £15
 
  TOTAL £570

It is not necessary to pay anyone to pay bills. Electric can be paid by automatic standing order once you have a bank account.
Water bills are intermittent and likewise your council tax can be paid when you visit annually.



 

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