General Information About Buying in Turkey

As you are no doubt aware, buying property can be a complicated task depending upon the property, vendor and location.

Outlined below are the main general points that a client needs to be aware of before progressing a purchase. All of the requirements listed below can be simply handled on your behalf by our legal representatives in Turkey

Once a property has been decided upon and a price agreed, it is normally necessary to pay a 10% deposit, assign a Power of Attorney to make legal representations and to forward a passport photocopy. It is recommended that, if visiting Turkey, that a Power of Attorney be instructed during the stay as it is more expensive to do this whilst in England, since a solicitor in the UK will be required also.

The Power of Attorney need not be a solicitor but a legal representative to sign documents at the Title Office, draw up a contract to include any works to be completed and to produce a timescale for completion.  An application to the Military is a legal requirement, and instructing a solicitor with Power of Attorney to address this is advised.

Further responsibilities extend to a check on proof of ownership of the property, right to sell, check the building regulations and any outstanding finance.

When the above checks have been completed, the final balance will be requested, the deal will be completed at the Title Office, the property registered with the Land Registry and the deeds transferred.  The total time is usually 6 – 10 weeks. However, if there is an off-plan purchase, then these timescales will be appropriate only on building completion.

Payment terms actually vary depending upon the developer and length of the construction schedule, but this is made clear and agreed at the outset.

Once transfer of the deed is complete, it is necessary to arrange connection of utilities (this can be done on the client’s behalf by a solicitor) and it is advisable to take out property insurance.

Due to the geological nature of Turkey, it is a legal requirement to pay appropriate earthquake insurance. This is nothing to be unnecessarily concerned about; it is just a legal process that is undertaken on the client’s behalf at the Deeds Office.

Standard Purchase Fees

It is standard process for a purchaser to pay 3% of the property price to the agent when buying a property through an estate agent for a resale property. This is not applicable when buying a new development via us.

There is also a single one-time Stamp Duty, which is 3% of the property valuation, which is normally split between buyer and seller, although this is often negotiable.

Permission from the military will then be applied for. The permission usually takes from 8 to 10 weeks and the solicitor or agent will inform you when it has arrived. Because of the long waiting period the vendor usually requires most or full payment of the purchase price up front. In this case a charge has to be put on the property by the Buyer until the permission arrives

Charge: Depending on amount the charge is put on but is 1.2% of the fee secured. This is paid at the time of placing a deposit.

Example of Costs on a £60,000 property