Turkey has a sophisticated legal system. In the UK very few people would try to buy a house without employing a solicitor. Exactly the same applies when buying property for sale in Turkey! There are professionals who’s job it is to ensure that you get full and proper title to your property. They are not expensive and you should always use them. We will introduce you to independent legal advice.
Turkish law now allows foreigners to buy and own Turkish property freehold in their own names. There is no need to set up a Turkish company to own the property or to put the property in the name of a Turkish citizen. You can sell your property when you want, to who ever you want and the sale is free of Turkish capital gains tax.
Local authorities in Turkey have, just like in the UK, extensive powers to grant or refuse planning permission in regard to the land and how many houses can be built on the land, etc. They also have building inspectors who check on the quality of the structural building work and can order the builder to replace sub standard materials or in extreme circumstances to demolish a building and start again. All new buildings have to be built to resist earthquakes, even if they are not in an earthquake zone.
In certain areas there are half finished buildings where the developers have tried to build without permission, or tried to squeeze too many houses onto a plot. Eventually these buildings will be demolished. By employing professionals you will ensure that your building was built with planning permission, on approved zoned land and to the correct structural standards – just like the UK.
The Contract is between the buyer and the seller and is both in Turkish and also fully translated into English (or the language of the buyer) so that you know exactly what you are signing. A translator is present so that you completely understand the proceedings and any alterations negotiated are properly included. The contract states the price to be paid and the payment schedule with dates on which the money is to be paid. It also states all the costs and charges associated with the contract as listed below.
For existing buildings, normally the deposit is 10% with the balance due 4 weeks later or when the TAPU (legal title deeds) are released which can take up to 3 months. What can take the extra time is an official search by the Turkish military authorities to ensure that they and other government departments do not have a prior call on the land or property that would prevent you from gaining proper title.
It is usual to give your lawyer power of attorney to act in your absence to purchase the property, thus saving you the inconvenience of having to be present at all the meetings. A good lawyer should also handle and supervise stage payments for ‘off plan’ buildings to ensure that only work completed is paid for.
Costs are approximately as follows :-
Other costs :-
The cost of connecting new properties to the utilities is around £300. For existing properties there is a lesser transfer charge.
Agents fees to the buyer are 3%, which is the Turkish standard and therefore shown in the contract.
You will also need £10 per person when arriving in Turkey for your visa; have the correct Sterling notes available as change is not given!
This is a brief outline of the process of purchasing property for sale in Turkey. It is a general guide only and is not a replacement for proper legal advice.
Please contact us if you have any questions.
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