|Buying a property in Turkey can be a simple process, so long as you know what you are doing. By working with us we will endeavour to make the process as smooth and painless for you as possible. Not only must formal regulations be taken into account, but non-Turkish nationals must also heed the various legal aspects.
My Place Overseas will give you the valuable assistance needed and will undertake the commitment to carry out objectives and thorough searches regarding the property in which you are interested. Our well-educated staff are fluent in English, and are always happy to help you.
It's no secret that Turkey has a "freelance" estate agent in nearly every bar. However, once they've made their commission they usually disappear, leaving the unfortunate purchaser to negotiate this unfamiliar territory by themselves.
You should also be aware that it is comparatively easy for non-estate agents to advertise over the internet. Caution and thorough investigation should be carried out and you should be sure to only choose a reputableagent.
At My Place Overseas, we pride ourselves on the fact that we place professional ethics and standards above all other considerations, and all of our representatives are thoroughly familiar with every legal aspect of a purchase.
We feel very strongly that once you have purchased a property through us, this is the "real beginning" of the relationship, not the end.
Property Purchasing Laws
Most foreign nationals can purchase property in Turkey providing:
These simple regulations are very important. Non-Turkish nationals, who have attempted to outsmart the system by purchasing homes in prohibited zones in the name of a Turkish acquaintance,have no chance of recovering their property in the event of a dispute, even under the protection of a private notarised agreement.
• That there is a reciprocal agreement between the government of Turkey and that of the country of the purchaser. This agreement does exist between Turkey and the U.K, also with other countries.
• That the intended property lies within the boundaries of a municipal area, i.e. town or village with more than 2000 registered inhabitants.
• That the intended property does not lie within the confines of a military zone.
Negotiating the Purchase
Having selected your ideal property, you will want to be absolutely certain of the legalities of the process and particularly your rights in a foreign country. This is where My Place Overseas will ensure that expert assistance is given in guiding you through every single step.
Once the deal has been agreed we will draw up a contract between yourselves and the seller, confirming the price, and agreeing on dates of transfer. We would require from you eight passport sized photographs of the person or persons whose name will be on the property’s title deeds (the tapu), plus a photocopy of your passport(s). We will then go to the tapu office, located close to our office in Fethiye and make the official tapu application.
In contrast to most European countries, the entry in the property register in Turkey is not performed by a public notary, but by an official of the Land Registry Office. It is a legal requirement for both sides (the seller and the buyer) to be present at the entry, although it is possible to authorise another person to attend on your behalf.
The ownership is only obtained at the moment that the property, if under construction, has been completed and the full amount has been paid.
At this point your deposit is paid to the seller and the tapu is sent off to the City Council, who in turn sends it to the Army Office in Izmir. In Turkey, it is necessary to acquire permission from the Army Office before the purchase can be completed. This process can take on average 5-8 weeks, sometimes a little longer if they have a backlog of applications.
The remaining balance of the purchase price is paid at a date negotiated between yourselves and the seller - usually when the tapu has been transferred.
The main costs are as follows:
• Agency Commission -
• Legal Notary - £90 - £150 (approx)
• Sworn Translator - £20 (approx)
• Photographs - £5 (approx)
• Purchase Tax (stamp duty) – 3% of purchase price (approx)
• Land Registration for Military Clearance (including maps) – £450 (approx)
• Earthquake Insurance (compulsory on taking title deed) - £35 (approx)
• There may also be some small administration charges during the paperwork process.