Summary Notes on Turkey Property Purchasing Process

Detailed Summary notes on Turkey property purchasing process

Turkey Property Purchasing process is rather straight forward and the costs associated with purchasing property in Turkey happens to be one of the lowest in Europe. The steps are as follows

STEP 1 Arrange your viewing trip to Turkey with Place Overseas

STEP 2 Choose your ideal Turkish property after viewing a healthy selection with Place Overseas

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

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

STEP 5 Come back to your home country

STEP 6 Agree the final 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 Place Overseas will ensure all will go smoothly!

Our Recommended Solicitors in Turkey will perform the following duties (after receiving Power of Attorney from you);

The choice of solicitor vests with you, however, we will make recommendations based on our knowledge and experience. In order to officially appoint a Turkish solicitor, you will need to give power of attorney during your inspection trip in Turkey

1) Preparing sales protocol between the buyer and the seller,

2) Making thorough investigations of the local Land Register in Turkey to ensure that there are no legal obstacles to buyer purchasing the property e.g. mortgages, military zones, other legal encumbrances etc,

3) Applying for Military checks to the Municipality for the client (Turkey Only)

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) Any Other Matter arising as part of conveyance.

Please review a statement from one of our recommended solicitors in Bodrum, Turkey Services Rendered by Our Recommended Solicitors in Turkey

You will need to give Power of Attorney to the solicitor in Turkey. This process takes about two hours and needs to be witnessed at the notary office in Turkey. Our 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.

Expenses of property purchase in Turkey:

1) Funds that are required during inspection visit:

Deposit (cash payment) £ 1,000 (when purchasing a property)

(This is a reservation deposit and it is deductible from the purchase price, most developers will only accept cash, therefore please have the funds ready in Turkey)

2) Funds that are required after your return from Turkey.

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)	3.3%
VAT	Not applicable
Electricity and water connection (Payable after Completion)	£ 300 - £ 400
Buyer’s 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:

7.5% on top of the purchase price

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Summary Notes on Turkey Property Purchasing Process - - Property Turkey for sale