Buyers Guide – Step 3
Surprisingly the Buying process in Turkey is relatively simple and straightforward and at the end of the whole process you will have your own Freehold Title Deed (TAPU) in your name and a property that can be passed down to your nearest and Dearest that is not subject to İnheritance Tax. The whole process can take anywhere between 1 week to 6 months depending.
First things first….
1) Make an offer on the property you have chosen: Many property sellers are open to reasonable offers for their property therefore often a sensible offer will be considered (sometimes not – but we can guide you in this)
2) Once we have an agreed price you will need to put down a ‘Non Refundable Holding deposit’ of either 1% of the agreed price or £1000.
3) We agree terms of the contract – dates for completion, specific details etc.
4) You may want a Property search to be completed on your chosen place, we will put you in touch with an English speaking lawyer to check out the sellers property.
5) While we are waiting for the report, we obtain your Turkish tax number and start drawing up your contract.
6) When the report comes back favorable we move to the deposit stage where we ask that you send 10% of the purchase price to our Turkish holding account and part of the additional costs of purchase (See Additional C.O.P. below). Once this is received we move onto step 7)
7) We send the completed contract with inventory to the seller to read agree and sign. They then send this onto you to do the same, you then send this back to us and we get fully signed copies to all parties.
8) Military Permission application: we apply for the military permission with the seller for you with a copy of your passport and your tax number (see note A). The application normally takes between 4-8 weeks.
9) Once the Military permission is granted then both parties come over to Dalyan within the next 3 weeks (see note B) for the title deed transfer. At this point the remaining additional Cost of purchase funds need to be transferred to our holding account.
10) On the day before the title deed transfer – 90% of the house price needs to be paid into the Sellers nominated account. This must happen BEFORE the property can be transferred into your name. (see Note C below). Only once the Seller can confirm they have been paid for the property will the Title deed office transfer the property to you.
11) Once the Tapu is in you name, we accompany you to the utilities offices and to the council and arrange for all to be registered into your name.
12) After everything else we can organize house and contents quotes if you require.
A: Military permission is only needed İF the property has not had an application made on it since October 2011. For complex villas and apartments- if ONE of the properties has has a military application granted since October 2011 then you do not need to apply again.
Military Permission is on the person and the land – checking that the land is not within a Military Zone and that the Buyer does not own more than 10% of the designate area.
B: İf you think you will be unable to come over to turkey at any point then you can leave a power of attorney to buy to either a estate agent, a friend or a lawyer. This can be done while you are in Turkey or done by a notary and apostiled in the uk and then sent over- however this will then need to be translated and notarized here in Turkey which we can organize for you
C: İf you are paying for the property in Turkey from your Turkish bank account- the funds need to be in there for at least 15 days before the transfer or you will be charged 0.5% commission by the Bank for moving money.
İf you have any questions or queries, please do drop us a line or look at the Buyers FAQ page.