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BUYING PROCESS AND COST


Title Deeds (Tapu) When you decide to buy your new home in Turkey it will be a very exciting time for you. You may or may not be aware of the process of buying so the following information is purely to give you an easy understanding of the process of buying and inform you of any obligations you will or may have. If you have any questions which are not covered the 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 you new home in Turkey as problem free as possible.

 

 

STAGE 1

Once you have decided on the property you wish to purchase, you must then go to our local solicitor where the sale agreement will be drawn up, the Solicitor then will do all the appropriate checks:
Property can be sold and seller actually owns the property

  • If there are any legal charges on property
  • Building permissions are in place
  • Terms of sale

Once checks have been completed a Legal Translator will translate the sale of agreement from Turkish to English. All parties at this stage which include the Solicitor, Legal Translator, Buyer and Seller will sign the Sale Agreement and each party will get the Sale Agreement in Turkish and English, this will also be given to our office for our records and safe keeping.

STAGE 2

At this stage the deposit, legal fees and our own agency fees will need to be paid.

STAGE 3

At this stage in the application the Solicitor will apply for the Title Deeds (or Tapu as called). The Title Deed authories will as standard inform the Aegean Military Commandership in order for them to carry out standard military check, please note this can take up to 2 – 8 Weeks, you are not charged for this service, this procedure is a formality and so far no application has been refused. After the permission has been granter the Solicitor will then contact the authories to transfer the Title Deed under your name to which will also have your photo on it.

Documents required at this stage are:

  • Passport photocopies
  • 4 passport sized photos (for each buyer)

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, this will just help speed thing up and can be done in the local Notary Office.

STAGE 4

Once the transfer of the Title Deeds has been completed and the outstanding balance 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 you payment plan)

A GUIDE TO COST INVOLVED

  • The Solicitors fee - £250.
  • Legal Translators cost - £ 50.
  • Notary charges £ 60.
  • Agency fee - 3% of total price.
  • Buyers tax - approx 1.5% of sale price.
  • Water and Electricity connection fee - £ 300. (New).
  • Property Tax - approx 1% of property price, paid yearly.
  • Earthquake Insurance (required by law)- Depends on property price and location.
  • Government tax - approx £100.
  • If property is bought within a complex there is an average maintenance charges of - £120. - £460 per year.