The Buying Procedure In Turkey

Foreign nationals may purchase most types of property in Turkey in there own names through a relatively simple procedure. Also, if and when a foreign national decides to sell, the procedure is as simple, and the proceeds of the sale may be transferred out of Turkey in full. When you have selected a property of your choice, you will be asked to sign a reservation contract. This takes the property off the market for a limited period of around 14 days, in exchange for a holding deposit of around EUR 3,000 / GBP 2,000 (this deposit is received within Turkey and online payment is only applicable to the rental section of this site). If you do not have the means to put down a reservation sum immediately, you risk losing the property to another party. The deposit freezes the price so that you are not affected by any price increases in the pipeline, and takes the unit or units off the market until the contract stage.

During this period you may appoint a lawyer who will make sure that there are no charges and encumbrances on the property you wish to purchase and that there is a clear title deed. Essence of Turkey will have also performed the same checks before advertising properties as we go to great lengths to ensure our clients are in safe hands.


Exchange Of Private Contracts

Next, you sign a contract of purchase with the seller, specifying all the relevant details of the property and the parties involved. Simultaneously, you pay 10% of the price of the property. This commits you to the purchase and the seller to the sale, and initiates the title deed transfer application. For finished properties, you pay the balance within two to three months. For off-plan purchases, within two to three months you pay an additional 40% of the property, and then complete the balance of the payments in stages in the following six months.

However, developers are usually flexible in accommodating your payment plan. If you are a multiple unit buyer as an investor, you can negotiate even better terms Once the title deed application is processed, you can arrange a suitable date to return to Turkey for the title deed registration in your name. Alternatively, you can give a Power of Attorney to your lawyer to complete the title deed registration on your behalf. On the day of transfer, you (or the holder of Power of Attorney), the seller or Essence of Turkey deeds representative go to the Title Deeds Office, complete the balance of the payments. Registration of the title of the property will be in your name and a 3% property tax will be payable.


Viewing and Inspection trips

You may want to book an inspection trip with our company, in which case we will refund 200 GBP upon purchasing a property. Airport transfer are included, we will pre book accommodation for your stay and inform you of costs. Your viewing will be leisurely and enjoyable, and you will be given genuine advice on what is the best investment. We pride ourselves in giving correct and honest information. Also you may just wish to have a viewing while on holiday in Fethiye, in which case you may pop into our office, which is located in central Fethiye. We would be more than pleased to welcome you and help you find the right property for your needs and guide you through the purchasing process with ease.


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