| A. The process of the purchase |
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Buying property in Turkey for sale is not as complicated as you might imagine. The procedure is often far simpler than in most other European countries.
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| Foreigners may purchase land and property in Turkey under their own names (or under their companies) provided that properties are not located close to a military airport, station etc. |
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When buying a property in Turkey there are a few formality to go through before the property is legally yours. V.I.P. STAR Real Estate specialist staff will assist you in every step of the way and thereby making the process easy and safer for you.
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| 1. Step |
| To allow V.I.P. STAR Real Estate to carry out all the formalities of the purchase, you must sign a "power of attorney" authorising it to do this. The authorisation usually includes the following: |
* To purchase and register the property in your name
* To officially register your property in the municipality department
* To obtain completion report for the property
* To pay local taxes
* To officially register electricity, water supply and disposal services |
| 2. Step |
| V.I.P. STAR Real Estate Specialist will assist you in opening a local bank account to make the transactions between your country and Turkey easier. |
| 3. Step |
| The property owner and you go sign a contract "promise to sell and buy contract". This contract is an official document stating all information about the real estate, the buyer and the seller. It also contains data about the payment and the time of conveyance. |
| 4. Step |
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An application is made to the Land Registry Office in order to receive military permission. This process may take a couple of months. After having received the military permission, the parties and their legal representatives go to the Land Registry Office to carry out the final procedures.
Throughout the process a fully certified translater will attend all the legal matters and also translate any contracts required.
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B. Fees
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| The costs include the following: |
- Estate Agency Fee: 3% of the Purchase Price
- Certified translators: 20 Sterling (approx) (approx. $38, 30 €)
- Registration at the Title Deed Office
- Conveyance tax: 3% of the property value
- The costs for the Power of attorney at Notary Public: 90 Sterling (approx) (approx. $169, 132 €)
- Earthquake Insurance (compulsory) : 35 Sterling (approx) (approx. $66, 52 €)
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V.I.P. STAR Real Estate Specialist Staff will take your all troubles about paying this bills away (Including the conveyance tax, regardless of the price of the property).
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C. Yearly fees for the owner:
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Property tax: 0,1% of the property value and to be paid before end of May each year.
Costs for electricity, water and disposal services. . |
| Buying a car: You can buy a car any time you desire. |
| Telephone: You can only get a telephone line if you have residence permit. |
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