Below is an outline of the main steps of the buying process.
1. Property search
3. Sales contract
4. Power of attorney
5. Military approval
6. Title deed transfer (Tapu)
Step 1 - Property search
will talk through your requirements and based on this, gather a number
of properties that we feel suit your needs, and arrange a viewing. We
want this part of the process to be enjoyable, informative and
Step 2 – Deposit/reservation
Once you have
found a suitable property you will need to put down a deposit in order
to secure it. This fee is usually 10-20% of the purchase price but the exact figure will be confirmed individually with the house owner or builder at the time of purchase.When the deposit gets paid, a receipt is given and this amount gets written into the sales contract.
Step 3 – Sales contract
At this point a sales contract is
drawn up between yourselves and the seller. This will include
information such as deposit paid, agreed sale price, date of transfer,
and snag list if any. We will require from you two passport size
photographs of the person whose name will be on the property deeds plus
a full photocopy of your passport.
Step 4 – Power of attorney
Should you not
be present in Turkey for the actual purchase of your property, you then
need to go to the Notary's office (similar to Notary public in the UK)
to sign a document giving your agent or solicitor, the power of
Attorney for the property, not for money. This enables the agent to
continue with obtaining the Title Deeds in your absence.
The initial stage has been completed and you do not need to be present
for any more of the property purchase transactions. Steps 2 to 4 only
takes a few hours to complete.
Step 5 –Military approval
of the property and you (the purchasers) get forwarded to the Land
Registry Office. An official transfer application is made and all
documentations get sent to the Izmir Aegean Army for approval. This is
to check that the property is not located in a restricted zone for
foreign purchase etc. Approval normally takes 3 - 6 months .
Step 6 - Title Deed Transfer (Tapu)
Once military approval has been
granted, the title deeds are re-issued into the new owners name and
forwarded back to the local Land Registration office who, in turn
contacts your agent. It is at this point that the last payment gets
paid to the vendor/builder and the deeds are collected. Your agent or
solicitor can pick up your deeds on your behalf if you have given them
power of attorney. Your title deed can then be kept in a safe place
pending your next visit.
Main Property Purchasing Costs
3% on the ‘declared’ value of the
property to be paid to the government. As house prices are set by the
City Council for taxing purposes, their valuation is much lower than
the actual purchase price. This is a one off payment and it is due once
the TAPU is received (step 6).
2.The solicitor's fee:(should you require one)
Prices start from about £400.00 pounds and will vary depending on which solicitor you choose to use.
All Estate Agents in Turkey charge 3% commission based on the Purchase price.
£100-150 notary charge for the power of attorney and the translation of
your passport. This needs to be paid at step 4.
2 maps are needed. The first is a map of where the property is located and is sent to the Izmir Aegean Army. This costs approx. £35. The second is a 1/5000 map used in the title deed process. This costs approx. £400 but price varies for different Municipality areas. (step 5)
6.Title deed registration:
£ 30 registration of title deed in your name. This is paid in step 6 and is paid only once.
The charges for purchasing can differ from region to region. İt is
therefore difficult to give a detailed and complete picture of the
final cost involved.
Water and Electricity to be transferred into your name – approx. £150
Compulsory Government Building Insurance (DASK):
This insurance has been compulsory since 2000 and costs approx. £35 a year depending on property size.
Home and Contents insurance:
This is not mandatory and can be
done once the property deeds have been registered in your name.
Approximatly £150 but costs vary depending on cover required and value
Real estate tax
An annual property
tax is collected by the municipalities (i.e. local governments) at the
rate of 0.3% for land and 0.1% for a house. This can be paid annually or in two payments, one in May and the next in November.
Most foreign nationals can purchase property in Turkey providing that:
There is a reciprocal agreement between the government of Turkey and
that of the purchaser. This agreement does exist between Turkey and the
U.K. and many other countries.
The intended property lies within the boundaries of a municipal area,
i.e. town or village with more than 2,000 registered inhabitants.
* The intended property does not lie within the confines of a military zone.