Buying Property In Turkey
Buying a house abroad is a very daunting experience for some people, but the task of the purchasing of a new home abroad should be a enjoyable experience as you are after all, buying a second home for you leisure or for perhaps an investment, or the place you intend to retire to, or to change your life and swap it for foreign shores. We will endeavour to do our best to guide you through each step in plain English and our team are ready to help you with all the formalities at every stage of the purchase.
The Buying Procedure
We help you to open a Turkish Bank Account which is needed for making your payment for the purchase Once the sale is agreed go to the notary office and arrange a power of attorney which allows us to act on your behalf, sign necessary documents and arrange payments. During the process in the notary office we arrange a state registered translator (necessary under Turkish law) We draft a contract of sale in English which we both sign.
This contract is for your peace of mind. It contains everything which you are buying. For example if the property is furnished it will include the inventory of items which are included. It also details your payment terms in the case of an off plan purchase where stage payments are to be made. At this time you pay a deposit of 20% the agreed purchase price.
Depending on backlog times we go to the title deed office and submit your application. We will either leave the office and wait for the permission to be processed or in the case of no backlog we will wait while the title deed office processes a new title deed in your name. The charge to transfer the title deed into your name is currently 4% of the sale price. When the title deed has been transferred into your name we apply to the electricity and water boards to connect the services in your name. The charge for this is around £200.
When you have the title deed in your name you pay us a commission of 3% the sale price.
Congratulations you are now a Turkish Property Owner.