BUYING PROCEDURE
The following is the process that should be followed when buying property in Turkey. Please be aware that the fees quoted are approximate and that these procedures may change.
1.Once you have decided to purchase a property, you should ask for a photocopy of the deeds and go to the Land Registry Office (Tapu), which has the maps of the areas and check the deeds against the area map to see if everything is in order. The parcel number must correspond to the map. The parcel should show an outline of the building you are going to purchase. If there is no building shown on the land you will need to go to the municipility and see if it is possible to get building permission (iskan) in the future, if the building permission isn’t available it may be the case that the owner has just not buthered to get permission or that there are some illegalities regarding the land or building.
2.If everything is in order at the Land Registry Office and both parties agree on the price and conditions a deposit is then decided upon (usually 10%). However if the price of the property has been reduced the seller may ask for a higher deposit or full payment. Foreigners are often asked to pay a deposit as the seller hast to wait apprx.3 months for the buyer to get permission whereas if they sold to a Turk the transaction would be completed in a few days.
A contract (protocol) is then drawn up an signed at real estate agency office or lawyer office.
3.Then you take out compulsory earthquake insurance on the house; the price depends on the size of the house. Cost between apprmx. 20 £ and £ 100 depending to house size.
4.Following this the Land Registry Office will provide a document that gives the details of the land/property, this document will be sent to the military along with your other documents. Cost: apprmx. 100 £.
5.A norarised copy of your passport, 2 passport photographs, a copy of the earthquake insurance and the document from the Lands registry Office is then sent to the military where they will check wheather you are able to purchase property in Turkey. The ‘reciproty principle’ must apply between the country of the person wishing to purchase the property. In other words, if a Turkish citizen can become the owner of real estate in your country, then the same right applies to you in Turkey. In addition they will check that the property is not near a military zone. This prpcess can take up to 4 months. As of july 2003 foreigners are able to buy in areas that do not have a municipality.
6.Whilst waiting for the permission to purchase you should get e tax number from the Tax Office (Vergi Dairesi), you will need this to open a bank account with a Turkish bank (to transfer payment for the property to).
7.When the permission is given the agent or your lawyer will inform you. At this stage you should inform your agent of when you will be in Bodrum to Exchange deeds they in turn will notify the relevant parties. You should remind your lawyer to check if there are any outstanding bills to be paid on the property and that they insist on the payment of these by the owner. Your funds for the property purchase should be transferred into the vountry through a Turkish bank at least a week before you exchange deeds. The funds being transferred should be specifically identifed, for example: transfer purpose for the purchase of Land in Torba, title need nr. 3546. Keep all receipts to prove the original purchase.
8.Then you go to the municipality and they will give you a document that shows the price of the house. The price paid for the house and the price given by the municipality that will be written on the deeds will be different. This is done in order to reduce the tax paid to the government. The fees at the deeds ofice will be 3%.
9.You then go to the Title Deed Office (a translator employed by the deeds Office will be present) and the property will be transferred into your name. The fee at the deeds Office is around 3% of the price that is written on the property title. The usual process is thay you go to the deeds office on the morning of the day you intend to exchange the deeds, pay the fees and they will then give you an appointment in the afternoon or next day for the Exchange of the deeds. Final payment usually takes place after the deeds have been exchanged but this depends on your agreement with the seller.
10. After you have purchased the property you should put the electricity, water and telephone bills in your own name. This will cost approximately £ 150 - 200 respectively.
11.Finally you should register with the local authority (muhtar). The Real Estate fee does not include the payment of any of the above fees.
Please contact with us for all your questions!
