Doug Duffin, Saturday, 2 July 2011
Houses on the river Bosporus in Sariyer, Istanbul.
The Buying Process
Buying property in Turkey is a straight forward process, and often easier than in other European countries. Foreigners may purchase
land and property in Turkey in their own name provided that properties are not located in a
military zone. Though we would not attempt to sell a property that fell into this category, as a matter of routine all sales to foreign citizens have
to be approved by the army base in Izmir. This is the only lengthy part of the procedure, as it takes 8-12 weeks to receive that approval. Apart from
this, the official procedure is a straightforward transfer of the title deed in the Land Registry Office. There is no need for a solicitor to carry
out a search as the procedures at the deed office include a check on the property, which would uncover any irregularities or outstanding loans
secured
against it.
- Once you have seen a property in Turkey that you would like to purchase you will need to find the deposit. This is payable by
cash or credit card – Personal cheques are not accepted by banks here in Turkey. An initial payment of 10-20% of the property price is usually
required. The exact figure will be confirmed individually with the house owner at the time of purchase. When this is paid a receipt is given. The
amount received is written into the contract. A deposit can also be paid once you are back home via electronic funds transfer.
- You will need to have your passport with you. Photographs are also required; your agent will be able to show you where the
nearest place to get these done is. (approx £4 for 8 photos).
- A purchase contract will then be prepared. Should you wish an english speaking solicitor can also be provided.
- Should you not be present in Turkey for the actual purchase of your property, you then need to go (your agent will accompany
you)
to the Notary's office (similar to Notary public in the UK) to sign a document giving your agent power of Attorney for the property, not for money.
This enables the agent to continue with obtaining the Title Deeds in your absence. Usually then you will return to the solicitors office, where the
sale contract showing the property address and payment details will have been drawn up and be signed by you the purchaser(s) and your agent.
The initial stage has been completed and you do not need to be present for any more of the property purchase transaction. This process only takes a
few hours.
You will be given the original contract and copy of the power of Attorney to take back home with you.
The same day or the next day your papers are forwarded to the Land Registry office for all documentation relating to the purchase is then forwarded
to
the Land Registration office in Izmir. Here everything is checked and then the title deeds ( TAPU ) are re-issued in the new owners name and
forwarded
back to the local Land Registration office who, in turn contact your agent. This process usually takes 6-8 weeks.
Your agent will advise you of this when it happens. At this time you will need to pay the final balance plus the 3% property tax.
Upon receipt of this we can then sign for and collect your TAPU from the Land Registration office on your behalf and this will then be held in the
office pending your next visit and collection.