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Buying a property in Turkey is a straightforward process, but, like anywhere else in the world, caution should be exercised and you should seek legal advice before signing any contracts or parting with any money.
Below is a general outline of how the process works, though this may differ slightly in certain circumstances.
- Once buyer and seller have agreed a price, it is usual for a deposit to be paid in order for the property to be taken off the market, while the buyer’s lawyer makes preliminary checks on ownership and title deeds. In some cases, the buyer may wish to appoint a structural engineer to assess the property and make a report. There is no concept of a chartered surveyor in Turkey, so an engineer’s report is the nearest equivalent to a professional survey. If the property is brand new or recently built, it will conform to good building standards, as these are enforced by the local authority before title is confirmed.
- Once these checks have been completed, the buyer’s passport is translated and contracts are drawn up, translated, signed and notarised. In most circumstances, the deposit is only returnable if there is a problem with title or if the purchase does not receive military approval, though both are most unlikely.
- Paradise Property (or the buyer’s lawyer) would make an application for military approval on behalf of the buyer. This process is largely to ensure that the property in question does not fall into military or other government zoning which makes it ineligible for purchase by foreigners. It typically takes around two to three months, depending on demand at the time.
- Unless they are planning to remain in Turkey during this process, many buyers prefer to award Power of Attorney to their lawyer, or another trusted individual, to allow them to undertake the necessary formalities to complete the purchase once military approval has been given. This can easily be achieved in the office of the Notary General in Kaş.
- If the buyer is not planning to remain in Turkey, it is also a good idea to obtain a tax number and open a Turkish bank account at this time. Paradise Property will assist with these formalities. Most Turkish banks now have online banking, making transfer of funds between international and domestic accounts a simple process.
- Once military clearance has been received, the buyer either returns immediately to Turkey to complete the necessary paperwork and transfer funds to the seller, or his appointed representative completes these formalities on the buyer’s behalf. This is a simple process and can be completed at the title deed office in Kaş. For this purpose, a passport translation is required, together with two passport-sized photographs of the purchaser.
- When the sale completes and the title deeds are transferred, property transfer tax and Paradise Property buyer’s commission are due for payment by the purchaser. At the time of writing, both of these stand at 3%. (Please see section on ‘additional costs’).
- Following transfer of the title deed, the property then belongs to the buyer.
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