Efes Estate

 

 


The Buying Process

Most people are surprised at how straightforward it is to buy property in Turkey. A property transaction between two Turkish people can be completed in an afternoon. For a foreign buyer it takes longer only because they must get official permission to proceed from the military authorities. This is a simple process, but it can take considerable time.

Deposit

It is normal to pay a deposit or reservation fee to hold a property while you get out to Turkey to view it, or while you organise the necessary finance. These are typically £1,500-£2,500 and can often be put on a credit card.

Searches

As Efes Estate Agents, we conduct all necessary searches to confirm that the property belongs to the seller, and that there are no outstanding debts against the property, before we put them in our listings. We also check for the necessary planning permission. These searches can also be done by solicitors.

 

Military Check

Foreign nationals buying property in Turkey must be approved by the military authorities. Approval is based on cursory checks into the purchaser’s background and the location of the property. The military investigation takes 4-12 weeks depending on how busy things are.

Completion

Once you get the go-ahead from the military authorities you are ready to complete in the land registry office (tapu dairesi), or occasionally in a Notary Public. The procedure involves the seller, or their legal representative, giving consent for a new title deed (tapu senedi) to be issued in the buyer’s name. The formalities take anything from 30 minutes to several hours. By granting power of attorney to a legal representative these formalities may be completed on your behalf.



Expenses of Property Purchase

Remember to include the various purchase costs when budgeting for your property purchase.

Purchase Tax : 4% of the property’s declared value

Registration Fee ( at the Tapu Office) 135 TRL (App. 60 GBP)

The estate agent’s commission : 3% of the sales price

Compulsory earthquake insurance : £40-£100 per year

Military Clearence Application : 600 TL

Giving Power of Attorney at Notary : 150GBP (Incl. Sworn Interpreter)

Electricity Subscription (AYDEM)

  • New connection of electricity meter App. 100 Euro (once only)
  • Name transfer of an existing connection 100-200 TL (depending on the property) App. 40-80 GBP (once only)

Water Subscription (FESKI)

  • New connection of water meter 98 TL (App. 40 GBP)
  • Name transfer of an existing connection 0 to 42 TRL (App. 20 GBP)

Land Line Telephone Subscription (TURK TELEKOM):

  • New connection 7,5 TRL
  • Name transfer of an existing connection 4 TRL




Buyers & the Law

It is a good idea to appoint an experienced solicitor to look after your interests and to check all contracts before you sign them.

However, merely appointing a solicitor is not enough. It is essential to find one who has experience of local property law and who has represented British clients before. For a recommended solicitor contact us.

Be aware that some British law firms may charge a lot more than solicitors in Turkey, and will subcontract the work out to a local law firm anyway. This can increase not only the cost but also the time taken for searches and checks.

Granting power of attorney to your solicitor allows them to act on your behalf. This can be particularly useful if you don’t have the time to return to Turkey during the buying process. It also saves you money on air travel and accommodation. A power of attorney can be drafted by a Turkish solicitor and must be notarised in your presence at the Notary Public.

In January 2006, the law concerning foreign buyers was changed. The new law limits land purchases to 2.5 hectares, or 30 hectares with special permission, and bans foreigners from buying in strategic or military zones, and rural areas. This change does not affect the vast majority of buyers in the coastal resorts, towns or cities.

Foreign nationals can:

  • Buy freehold property within planning areas (cities, towns, resorts and some villages)
  • Own up to 2.5 hectares (30 hectares with special permission) of land in a planning area
  • Set-up a limited company to buy property or land in rural areas


Title Deeds; TAPU in Turkish

A TAPU is an official document which shows you have ownership rights over the real estate. The owner's full name and photograph, and detailed information on the asset appear on this document.

 











Turkish Mortgage

Coming soon