The following information is intended to help you understand the process of buying a property in Bodrum and to give you an indication of the obligations of overseas home ownership.
Buying property in Turkey is absolutly different than other countries throughout the world. We will “manage” the whole process for you. Generally speaking the entire process takes minimum 3 months up to 6 months. Foreign nationals may purchase most types of property in Turkey in their own names.
When you have expressed an interest in buying a property, an agreement is prepared by a solicitor setting out the terms and conditions of the purchase. A signed copy of that agreement and a copy of the title-deed of the property are given to you. The solicitor will make sure that the title deed (TAPU) of the property is checked; that the person who is selling the property actually owns it; whether there are any charges on the property; where applicable that building licences and permissions are in order; and that the terms and conditions stipulated by the seller are checked for fairness.
You are required to give a copy of your passport, which needs to be translated by a legal translator, and four photographs. Also the deposit and the legal fees are usually paid at this stage.
Before leaving for your Home country, it is advisable to get a taxnumber and open a bank account.
Then you make a payment according to the payment schedule clearly defined in the agreement.
Upon this payment, the proceedings at the Title-Deeds Office are initiated your solicitor.
The solicitor will arrange for the paper work to be sent to the title deeds office for the transfer of the title deeds into your name. The title deeds office will send the passports and title deeds to Izmir for the military check. This military check is only to determine that the area the property is in, is not within a certain kilometer radius from a Turkish military base (this could take 3 to 6 months).
When all the checks have been conducted and the papers returned to us, we will contact you so that you can arrange a suitable date to return to Turkey to sign the Contract and undertake the money transfer. You do not have to stay in Turkey as we will contact you as soon as the necessary paperwork has been received back from ?zmir. Or you can give the solicitor in Turkey, Power of Attorney to sign for the release of your title deeds from the title deeds office once the title deeds have been authorized. Giving your solicitor Power of Attorney does not give him/her any claim over your property, it will be your name and picture on the title deeds.
On the day of transfer, the buyer, the seller and Estate Agent will go to the Title Deeds Office and complete the paperwork. The paperwork consists of all the legal issues (title deeds, land registry etc) and financial issues. Financial affairs are concluded, signatures exchanged and the title deeds of your property are registered in your name. For non-Turkish citizens a legal translator should be present on the day of the transfer of the title deed. We can arrange this for you.
After the title deeds have been authorized, it is the time when you need to usually pay the balance due of your property, the buyers tax, earthquake insurance and the water and electricity connection fee.
We will accompany you, if you wish, to the various department offices to get the utilities changed to your name.
A Guide To The Legal Costs Involved
The solicitor’s fees:
Government tax: depending on the location.
70 turkish lira for the translation of 1 passport
100 turkish lira for the translator being present on the day of the title deed transfer
Buyers tax : 1.65% of the sale agreement price
Property tax : % 0.3 of property price, paid yearly, depending on type of property and location.
Water & electricity connection fee is depending on type of the property and location.
Earthquake Insurance : Depends on property price and location. (required by law)