|
HOW TO BUY
When you decide to buy your new home in Turkey it will be a very exciting time for you. The chances are you will have never bought a home abroad before so you will be unaware of the process involved. Theinformation in the following text is purely to give you an easy understanding of the process of buying, and to inform you of the obligations you will or may have. If you have any questions to which are not covered in this text then please do not hesitate to contact us and we will be delighted to answer any queries you have. Rest assured we will be with you every step of the way to make the purchase of your new home in Turkey as problem free as possible!
Stage 1
Once you have decided on which property to purchase, a sales agreement will be drawn up. We will ensure that all the appropriate checks to ascertain that the property can actually be sold etc will be carried out. In addition to this we will also check for legal charges on the property, and will also make sure that the necessary building permissions are in place. Once all the checks have been completed the sales agreement is ready for signing, if completing it with our solictor then the agreement is drawn up in Turkish and english so you have no need for a translator. All parties at this stage will sign the sale agreements, and each party will get the sale agreement in Turkish and in English, and this will also be given to our office for our records and safekeeping. You will need to notify us at this point if you wish your contract to be notarised.
Stage 2
At this stage the deposit, legal fees and our own fees agency fees will need to be paid. (All deposits are non refundable.
Stage 3
At this stage in the application we will apply for the title deeds. The title deed authorities will as standard, inform the Aegean Military Commandership in order for them to carry out standard military checks, please note that this can takeup to 4 - 6 months. This procedure is a formality and so far no application has been refused. After the permission has been granted from the military, we will then contact the authorities to transfer the title deed under your name.
Stage 4
We can arrange for a Power of Attorney here in Turkey for you in order to sign for the release of your title deeds from the title deeds office should you be away from Turkey at this time. We can take you to the notary office to have this done. Once the transfer of title deeds has been completed, and the balance outstanding has been settled, we will make arrangements to pay the buyers tax, earthquake insurance and the water and electricity connection fees. We will inform you of all payments that need to be made at this time (as reflected on your payment plan).
Q1: Who can buy property in Turkey?
Foreign nationals have been able to purchase property in Turkey since 2002/2003. Recent law amendments also allow foreigners to buy in more locations, which were previously out of bounds.
Q2: What are a Sales Contract and a Title Deed? I have heard about a Tapu, what is it?
The Title Deed is the legal document of ownership of the property and the most important document in the whole process. The Turkish name for this document is "Tapu Senedi," hence the Tapu you may have heard about. Once the property is sold, the title deeds are transferred from the seller to the buyer and that concludes the sale. If there are any restrictions on the property they will be itemised in the title deeds. Therefore it is very important for the solicitor to check the deeds carefully before recommending that the sale proceed. You can also ask to have restrictions placed on the deeds once transferred to you if you wish.
Q3: What documents do I need to buy my property in Turkey?
The only documents you will need to provide personally to purchase your property are your passport and two recent passport sized photographs.
Once the Sales Contract is signed for, the documents needed for the Title Deeds office are;
The Title Deed of the property, a copy of your passport and two recent passport (4cm x 6cm) photos.
Q4: Who's name will the property be assigned to?
Your own name or anybody you would like to choose to have the property assigned to.
Q5: How will I sign official deed–papers if I can not fly over to Turkey at the time?
You can sign a paper at the notary giving your agent the right to a power of attorney.
Q6: Will the papers be in English?
Yes, in Turkey there is a legal recommendation that all property sales to foreign nationals are notarised by a government-authorised interpreter.
You will be provided with a written translation of the sales contract, also drawn up by the government-authorised interpreter. As the property purchased is in Turkey, the legal contract is in the original Turkish language.
Q7: Do I need to do a will for my property in Turkey?
Yes, this is advisable. Under Turkish Inheritance Law the inheritance of property by a foreign national is dependent on reciprocity between the two countries involved. As Turkish nationals can inherit property in the UK, UK citizens can also inherit property in Turkey. If you have no will, your next of kin will automatically inherit the property (usually your children). If you wish to leave your property to someone other than your next of kin, you should make a will in the UK specifying this.
Q8: Are the properties Freehold or Leasehold?
Almost all properties in Turkey are Freehold.
Q9: I would want to rent out my property - How do I do this? Is there a demand for renting?
We can rent out your property for you and yes there is a high demand for properties to rent. ABLE Homes offers a full after sales service. Our Management Company can arrange rentals; provide property checks, airings, cleanings in between visits/rentals, pool maintenance, welcome packs for your visit, airport transfers and a lot more. We have a dedicated after sales and rental office in Altinkum, Turkey.
Q10: What extra costs should I budget for other than the purchase price of the property?
It is estimated that about 3% of the purchase price will cover everything. ref:"AToPC Club" purchase prices also include all legal costs.
Q11: Do you need a Solicitor?
Officially you do not need a Solicitor, as your Agent will usually do all of the conveyance. However, Solicitors are available for a cost of around £200 to £250.
Q12: I have more questions and queries can you help me?
Yes, please do not hesitate to send us an email or call us from our contact details on the website.
|
