Property Purchase Procedure
LEGAL PROCESS OF PURCHASE
Step by Step
The following information is intended to help you understand the process and give you an indication of the obligations of overseas home ownership.
The official body, which represents the seller and the buyer’s legal interest’s is the Land Registry Office, “TAPU.” This public service ensures the following:
1. The Title Deeds of the property are in order
2. The person selling the property is the registered owner
3. There are no debts or charges on the property
4. Building licenses and permissions are in order
5. Terms and conditions of purchase
The client will be provided with a list of English speaking solicitors recommended by the local council. The clients appointed solicitor will verify the process of purchasing a property here in Turkey therefore, protecting the purchaser’s interests.
Property surveys are not a legal requirement in Turkey, the client often feels it is prudent especially in the case of older properties for a survey to be carried out, at the client’s request their appointed solicitor can make arrangements for a survey to be done.
Please note any buildings constructed after the year 2000 have to adhere to the recently passed Building Regulations Law which sets strict standards in terms of type of build, quality of materials used and health and safety features required. This process is implemented by the Turkish Building Standards Authority named
"Yapi Denetim."
SALE AGREED
The following will be required:
1. A copy of the purchasers ID card/ passport.
2. Passport sized photos required of intended persons to be shown on the Title Deeds.
Elite Homes advise their clients to open bank account in Turkey which will help them to set up any future direct debits to cover the every day running costs of their new home and to obtain a tax number a requirement needed when opening a bank account and purchasing a home. Of course, Elite Homes will be more than happy to assist in this as part of our service.
BREAKDOWN COSTS
Please note before signing any contracts Elite Homes will provide a full breakdown of all costs involved on top of the purchase price of the property, usually estimated in and around 6%.
Example for Kusadasi Area
CUSTOMER NAME: PAUL & JANE SMITH
PROPERTY NAME: Sea Dream Villa
| Price of House |
₤ 53,000,00 |
| 3% Estate Agent fee |
₤ 1,590,00 |
| 18% sales tax on Estate Agent Fees |
₤ 286,20 |
| TOTAL |
₤ 54, 876,20 |
ESTIMATED ADDITIONAL COSTS
| Tapu title Deeds Tax (3% of nominated value) |
₤ 550,00 |
| Promissory sale agreement |
₤ 320,00 |
| Relevant translations |
₤ 220,00 |
| Military clearance |
₤ 90,00 |
| Appointment of "Power of Attorney" Notary Office fee |
₤ 420,00 |
| Electric & Water connection and registration |
₤ 190,00 |
ESTIMATED ANNUAL RUNNING COSTS
The costs shown are a guide and will vary depending on size of your property and the area.
| Build & Contents Insurance |
₤ 180,00 |
| Council Tax |
₤ 80,00 |
| Complex Maintenance payments (if applicable) |
₤ 300,00 |
| Electric & Water (metered) all year use |
₤ 450,00 |
The costs of running a property in Turkey are much lower than in the UK and Ireland, particularly with regard to water, electricity and rates. These figures are an average and may vary.
RELOCATION
During the last two years there has been a very noticeable increase in the amount of people relocating to Turkey from other European countries. Most people are hoping for a better quality of life. In this section we hope to give you a few points that you may want to consider:
Research
Does the area you wish to relocate to meet all your requırements: schools, health care , shops and amenities (always ensure you have medical insurance).
Resident Visa
If you are relocating to Turkey for more than six months then you are well advised to apply to the Turkish Government Office for a resident visa. They will issue a document for you to present to the police who in return will process the application. This document also ensures your application for a telephone connection and receivership of imported personal items shipped from home.
Work Permit
It is illegal in Turkey for a foreigner to work without the issue of a work permit and this process can take a considerable time. Please enquire in advance to the Turkish Embassy of your present country of residence and they will be only to pleased to advise.
Rent (Kiralik)
If you are planning to stay in Turkey for a year or less, then renting is usually the best solution. Most rental properties in Turkey are let unfurnished. Furnished properties are difficult to find and generally poorly equipped. You should be prepared to negotiate the price and make sure you receive value for money. Elite homes will be happy to assist you with finding the right property for your requirements for a reasonable fee.
Buy (Satilik)
Research the area and region where you intend to live, know what your budget is and make sure you budget for additional costs (Agents fees and taxes etc.) Shop around for finance and consider all options, ensure all your financial arrangements are in place and funds are available. Inspect a good range of properties which will suit all the year round use. If you are considering buying into a cooperative or a new development, research the background and history of the Cooperative or Developers and Builders and make sure you are comfortable with their credentials before signing any documentation or paying deposits.
Transport
Public transport in Turkey in terms of the local bus service is very efficient and cheap and most areas of a town or city are well covered. The price of cars in Turkey, especially second hand, are very expensive as is petrol, so this may be a factor you may want to take into consideration.
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