Buying property in Turkey is a straight forward process and relatively easier than in other European countries. Arzuoglu Property Development & Construction will assist you throughout the process providing an interpreter and transport where required.
Once you have seen a property and agreed a price with the seller a deposit of 10-20% is usually required. This is payable by either by cash or international bank transfer, personal cheques are not accepted by banks in Turkey. The amount received is written into the contract.
You will need to have your passport with you for all business transactions. Photographs are also required for the land registry Arzuoglu Property Development & Construction can arrange for you to have these taken (approx. £4 for 8 photos). It is recommended you open a Turkish bank account for which a Turkish Tax number is required, guidance can be given.
Although not required, the services of an English speaking lawyer recommended by the British Embassy can be used. He will prepare the purchase contract and remember you are paying for his services so please use this time to ask any questions you may have (fee approx. £150). www.britishembassy.gov.uk
It is not necessary to be present in Turkey throughout the whole purchase process as you can give power of Attorney for the property (not for money) at the Notary's office (similar to Commissioner of Oaths in the UK). This enables Arzuoglu Property Development & Construction to continue with obtaining the Title Deeds in your absence. The initial stage has been completed and you do not need to be present for any more of the property purchase transaction. You will be given the original contract and copy of the power of Attorney to take back home with you.
The papers will be forwarded to the Land Registry office and for none Turkish Nationals further checks are required by the Military in Izmir. Here everything is checked and then the title deeds (TAPU) are re-issued in the new owners name and forwarded back to the local Land Registration office who in turn contact Arzuoglu Property Development & Construction. This process usualy takes 2 - 4 months however there is currently a delay at the Land Registry due to a high volume of applications resulting in 4 - 6 month wait, but you will be advised when complete. Finally you will need to pay the remaining balance. On receipt of payment Arzuoglu Property Development & Construction can then sign for and collect your TAPU from the Land Registration office pending your next visit. Note: there is a 3% property tax on the declared value of the property.
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