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

  • Once you have seen a property in Turkey that you would like to purchase you will need a holding deposit. This is payable by cash. An initial payment of 10-20% of the property price is usually required. The exact figure will be confirmed individually with the house owner or builder at the time of purchase. When this is paid a receipt is given and the amount received is written into the contract.

  • You will need to have your passport with you. Photographs are also required; We will take you to the nearest place to get these done is. (approx £4 for 8 photos).

  • Then you should visit your Turkish solicitor or lawyer who will prepare the purchase contact. They are there to help you. You are paying for their services so please use this time to ask any questions you may have. You should Visit the British Consulate in Bodrum to get a list of reccomended solicitors. If you are concerned that another person will out bid you then enquire with your solicitor about a hipotec that is a way to garentee your purchace.

  • Should you not be present in Turkey for the actual purchase of your property, you then need to go (our agent will accompany you) to the Notary's office to sign a document giving your solicitor, the power of Attorney for the property. 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 and conditions will have been drawn up and should be signed by you the purchaser and the property owner / builder.

The initial stage has been completed and you do not need to be present for any more of the property purchase transaction.

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

  • Then your documents 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 3 - 6 months. Military clearance will also take upto 1 month and is a nessecary cost. We 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 your solicitor or agent can then sign on your behalf and collect your TAPU from the Land Registration office. This will then be held in the office pending your next visit and collection.

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

• The solicitor's fee. Prices will vary depending on which solicitor you choose to use.

• An approximate £100 Notaries Charge for giving 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 with the initial deposit payment on the property.

• 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. Approximately £120.

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

 

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

Property price £50,000
Tax @ 3% £1,500
Solicitor £1000
Notary's fee £100
Agency Fee @ 3% £1,500
Full insurance
(incl. earthquake cover) £120

TOTAL £54,220

 

Council tax is a small yearly payment and can be paid when you visit annually. It is also wise to ask us about the electricity costs for each house and any duplex fees that will need paying. These are normally quite cheap and allow for the up keep of the area your house may be in.




















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