£20,000-£50,000
£50,000-£75,000
£75,000-£120,000
£120,000-£200,000
£200,000-£300,+++
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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.
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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
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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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