A step by step guide to Turkey property purchase process

 

Property purchasing process in Turkey is straight forward and incidental costs of purchase happen to be one of the lowest in Europe. 

The following is our step by step guide to a smooth and safe purchase process, tried and tested since 2003. 

STEP 1  Arrange your viewing trip to Turkey with Place Overseas

STEP 2  Choose your ideal Turkish property after viewing a healthy selection prepared for you in advance by Place Overseas

STEP 3  Leave £1,000 reservation deposit (deductible from total price) to freese the price and reserve your property

STEP 4  Give power of attorney to our recommended solicitor or a solicitor of your own choice who will deal with your purchase )

STEP 5  Come back to your home country

STEP 6  Agree the final purchase contract in cooperation with your solicitor

STEP 7  Instruct your solicitor to sign the contract on your behalf

STEP 8  Then follow your contractual terms and conditions and all will go smoothly!

Our recommended solicitors in Turkey will perform the following duties (after receiving Power of Attorney from you)

  1. Preparing sales protocol between the buyer and the seller
     
  2. Making thorough investigations with the local Land Registry in Turkey to ensure that there are no legal obstacles for the buyer purchasing the property such as mortgages, military zones, other legal encumbrances
     
  3. Applying for military checks at the regional municipality on behalf of the buyer
     
  4. Obtaining the new title deed to the property registered in buyer’s name or those parties buyer instructs the attorney to register the property in
     
  5. Applying for electricity and water connection
     
  6. Dealing with any other matters arising as part of conveyance.


You will need to grant power of attorney to the solicitor to enable him/her to carry out the above on your behalf and in your absence.  Granting power of attorney takes about two hours and needs to be witnessed at the local notary office.  Place Overseas consultants will provide the necessary assistance.  

Please note that giving power of attorney to our recommended solicitors in Turkey is a standard procedure with professionally qualified and registered persons.   


Incidental one-off expenses of property purchase in Turkey

  1. Funds that are required during inspection visit - reservation deposit £1,000.  The reservation deposit is deductible from the purchase price, most smaller developers will only accept cash, therefore please have the funds ready in cash.  This deposit ensures that the property you have chosen to purchase is taken off the market and registered to your name pending signing of contracts. 
     
  2. Funds that are required after your return from Turkey - summarised as follows:

Municipality charge for military check. This is payable at the time of title deed conversion, this could be several months after completion of your property.

 £400- 900

Title deed office charge payable at the time of converting title deed to your name, could be several months after completion.                         

 £ 300

Stamp Duty (Payable after Completion)

 4.0%

VAT                               

 Not applicable 

Electricity and water connection (Payable after Completion)

 £ 300 - £ 400

Buyer’s fee (agency fee) payable after sales contract is signed for consultancy services rendered (standard fee in Turkey)                                             

 3%

                              

As a general guideline, purchase fees (as above) amount to 8% on top of the purchase price