Information / Buying a Turkish Property

Purchase procedure

Military Search
The solicitor will then arrange for the paper work to be sent to the Land registry 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 not within a certain distance from a Turkish military base (this could take approximately 3 months) or it is not in a military sensitive zone.

If you would like to give your 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 (you can go to the notary office to have this done -only during week days).

Please note that giving our solicitor Power of Attorney does not give the solicitor any claim over your property, it will be your name and picture on the title deeds. This procedure is same as in UK.

A payment plan will be drawn up at the office of Holiday Homes and will be given to the client along with receipts for monies paid.

Balance payment
Once the title deeds have been authorized, we (Or/and your Solicitor) will inform you. This is the time when you need to usually pay the balance due of your property( Unless you have agreed to pay earlier), the purchase tax, earthquake insurance and the water and electricity connection fee. We will inform you of all payments that need to be made at this time (as reflected on your payment plan).

The release of the title deeds from the title deeds office is signed in the presence of the notary by the buyer an the seller. You can either attend the signing in person or your solicitor can deal with it all and you receive your Title Deeds ( we will email / post a copy of the title deeds to you for your records, and the original will be kept at our office and you can collect them when you next come to Turkey.)

The solicitor will then arrange for the new title of the property to be registered with the local council office (for property tax purposes).

Buying a Turkish property

Starting with the cost involved we will try to explain the approximate figure you have to be prepared to spend when buying a Turkish property.( In UK pounds)

Purchase cost estimates

Purchase Tax……………………….….. 3% (of the declared purchase value)

The solicitor`s fees………….....................£250 - £750 (This is the approximate amount you will have to pay for a Power of Attorney for your Solicitor)

Notary charges…………………………….....£60 - £100

You can get the Purchase / Sale contract in Public Notaries and the charges for that will depend on the purchase value of the property. This is usually 1% of the value you are declaring on the contract.

Authorised translator……………………….£60 - £80

You might need an authorised translator especially if your solicitor doesn’t speak English. The Authorised translators work for the government .

Other charges / expenses

Agents commission ( At 3% ): Like all Estate Agents in Turkey Holiday Homes will charge their commission at this rate.

Government tax: Approximately £100

Annual Property tax: Approximately 0,5 % of declared property value, payable yearly.

Water & electricity connection fee: Approximately between £300 - £350 / € 440- € 510 depending on type of the property and location

Earthquake Insurance (required by law): Depends on property price and location. Usually between £100 - £200 per annum. Could be cheaper if bough in a package.

Yearly Complex charges: If property is bought in a complex: There is an average maintenance charge of between £20-£30 per month . When purchasing property, the buyer will be responsible for paying the water and electricity connection fee.

Holiday Homes can arrange all this work for you.

Now buying procedure
First you choose the property you would like to purchase.

If you have appointed a solicitor to do all the work on your behalf, then he/she prepares the Promissory Contract for Purchase & Sale. This contract will be translated from one language to an other and both copies will be signed by both parties.

Your solicitor will do all the checks for you as they do over in UK. All these checks can be made within few hours in Turkey. Once your Solicitor is convinced that it is all clear for you to sign this is the time to pay the deposit to secure theproperty.

Deposit payment
The contract will include the payment plan. You will set up a deposit payment ( This is usually 10%) to secure the property. Usually both parties sign to pay a penalty to the other party should they decide to pull out ( usually 10% again). So if the property owner gives up and tries to return your deposit, then they will accept to pay same amount in penalty to you. In return you will have to accept that you will lose the deposit you gave if you can not come up with the balance at the agreed date.

The deposit, legal fees and Holiday Homes’s fees will need to be paid at this stage.

The Promissory Contract for Purchase & Sale will be translated from Turkish into English by the legal translator. Buyer and seller will sign the sale agreements, ( Solicitors as well if they are employed as well) and each party will get the sale agreement in Turkish and in English, Holiday Homes Real Estate will keep a copy for records.