
Step 1
According to Turkish law non-nationals may acquire property in Turkey provided:
• There is reciprocity between Turkey and the buyer's country of origin.
• That the intended property does not lie within a Military Zone.
Recent changes in the law have made it possible for a foreigner to buy property outside a municipality, i.e. council districts. As there is a bilateral agreement with the UK and the Republic of Ireland, there are no restrictions applicable to British and Irish citizens wishing to purchase property in Turkey. In accordance with the Turkish legal system, the property ownership is mainly freehold. Property purchases can be conducted in the following two ways:
1) Conducted in Tapu dairesi (Land Registry office)
2) Performed in Noter (Notary Public)
Both practices are legitimate methods of sales. However, a sale performed in the registry office is a common way of purchasing property in Turkey.
The transaction is completed in the Land Registry Office in front of a Land Registry official. The title deed holder (owner) or their legal representative gives consent for the issue of a new title deed with the buyer's details. At this point, the money for the property exchanges hands. The sale performed in the Notary Public gives the purchaser a right to register the property at a later stage in their name in the land Registry Office. In either case, the seller must have the authority to sell the property. Should the seller be acting on behalf of the owner or the part owner, a power of attorney clearly mentioning this authority is required.
Step 2
The Contract
The contract is particularly important because of the aforementioned investigation process conducted at the army headquarters. It must be established whether or not the property is in a Military Forbidden Zone (a process that may take 6-8 weeks).
The buyer cannot hold the title until the Land Registry receives clearance of the Security Investigation. Any payment made towards the purchase must therefore be recorded in a form of a contract. Contract should ideally be drawn up in Turkish and English so that both sides understand its contents.
Step 3
The Deposit
It is common practice to make a 15 % deposit of the asking price to hold the property and for the vendor to start the clearance process. It is significant that this deposit payment be recorded in a short contract in a language that both buyer and the vendor can understand. At the time of the deposit payment, it is important to check:
• Property status - details of the property and whether the property is in the restricted area or not. The restriction may be result of property being in a military zone or a nature protection area. The Army has already checked all properties in Ravers Properties Abroad agency. Therefore, the properties we provide are not in a military zone or a nature protection area.
• Property ownership - the property belongs to the owner until full payment is made.
• Constraints - existence of pre-emption rights or restrictive covenants, or debts over the property.
Step 4
Registering The Property
Once you have agreed the sale with the owner, you must then file an application with the local Land Registry Office in order to acquire title of the property. However, before the title may be transferred, checks have to be made to ensure the property meets all necessary requirements. The buyer is required to present proofs or documents concerning the transfer of the full purchase price of the property to the Land Registry Office. In addition the purchaser can arrange private insurance for fire and other natural disasters. Ravers Properties Abroad is ready to offer its help free of charge through these procedures.
Step 5
Fees To Pay
Notary Public Fees:
The scale of the cost is fixed by law and generally ranges from £100 to £250.
Property registry fees:
A small amount is required to pay for the registration (about 50% of the Notary Public fee) and the remaining 50% goes to government's obligatory insurance. However, this amount will only be known once the value at the Land Registry is discovered.
Additional Costs
We suggest as a guide you budget for additional costs of approximately 6% to 8% of the purchase price.
The charts below will give you an indication of the costs you can expect to pay.
APPROXIMATE ADDITIONAL COSTS
Agency fee: 3%
Purchase Tax (stamp duty) : 0.3%
Land Registry: £100 – 200
Admin cost: VARIES
Solicitor
Water
Electricity
Interpreter
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TOTAL COST OF A PROPERTY WORTH £50.000
HOUSE PRICE: £ 50.000
Agency fee: £1500
Purchase Tax (stamp duty): £150
Land Registry: £100 – 200
Admin cost: £1000
Solicitor
Water
Electricity
Interpreter
TOTAL COST: £52800 approx.
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RAVERS PROPERTY CHARGES 0% COMISSION TO BUYER |
TOTAL COST OF PURCHASING A HOME WITH RAVERS PROPERTY
£51300 approx. |
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