ANGEL HOMES BUYERS GUIDE: HOW TO BUY A PROPERTY IN TURKEY
Are you thinking of buying a property in Turkey? If so, it’s understandable that you may have lots of questions and concerns.
Angel Homes have been helping clients build, buy and rent Turkish property since 2004. We appreciate how daunting purchasing a property can be, especially in a country where the property laws are different, and you may not speak the language.
ANGEL HOMES STEP BY STEP GUIDE ON HOW TO BUY A PROPERTY IN TURKEY
1. Choose the location.
“Location, location, location,” you have probably heard the saying, and it’s true – location matters! Fethiye is a large and diverse region made up of popular beach destinations, hillside resorts, villages, suburbs, and a thriving cosmopolitan town centre. It is a property investment hot-spot that appeals to the majority, with locations suiting most tastes and budgets.
That said, each area is different, and you need to do your research and view the region to pinpoint your choice of location. If it’s your first time to Fethiye, please let Angel Homes know so we can give you a full overview of the area. We can then start your search by taking you to see re-sale and new build properties that may be of interest.
2. View a selection of properties.
Angel Homes represent many properties for sale in Fethiye, take a look at our website for our current listings. Hopefully, before we meet, we will have had a chance to get to know you and your requirements. To save time, please let us know you’re must-haves, ideally the location and your maximum budget before arrival so we can run a thorough search of our files and come up with properties that match. Your consultant can then take you to view the properties and answer any questions or concerns.
Update: Virtual tours are now available. If you are interested in a listing and would like a tour online, please contact us.
Please note: Angel Homes run due diligence checks on all the properties we represent to make sure the TAPU (Title Deeds) are in order, and the villa or apartment is legal and above board.
3. Negotiate and agree on the price.
Once you have decided on a property, the Angel Homes team will help you negotiate with the vendor or developer to secure the best price. Our team are on hand every step of the way to make the purchase process as simple and straightforward as possible.
Once the offer has been accepted, an initial sales contract is drawn up outlining the payment terms, and any inclusions in the sale. Your consultant will then help you find an independent solicitor to draw up the official purchase contract and keep your best interests in mind. At this point, a Power of Attorney can be appointed if necessary. Both parties then sign the contract.
4. Complete the paperwork.
Once a sale has been agreed, a Turkish bank account and a tax number will be arranged so transactions can be made, and the property purchased. Your consultant will assist with all the necessary paperwork; this is usually a quick and easy process that takes a couple of hours. Note: Please bring your passport and additional proof of ID and address (e.g. a driving license).
5. Pay the deposit.
On the completion and signing of the contract, a deposit is paid to secure the property. Angel Homes will then remove the property from the market. At the moment (2020), no military defence checks are required on foreign purchases, this came into effect from August 2018. However, laws in Turkey do change frequently, but your consultant will notify you should there be any amendments to fees, procedures or paperwork during the property purchase.
6. Final legal checks.
Before completion and TAPU changeover, your solicitor will run checks on the title deeds to make sure no debt has been registered against the property. They will also ensure it has living permission (habitation certificate), and that everything is in legal order.
7. Completion and Title Deed transfer.
In Turkey, both parties (or their Power of Attorney) must be present at the Land Registry Office to complete the sale and see the title deeds transferred. Your agent will be there, plus a translator (if necessary), to talk you through the process. At this point, any remaining funds will be paid, as well as all relevant taxes and charges.
In Turkey, there is a property purchase tax of 4%. This tax is 4% of the valuation of the property as stated on the title deeds, a figure normally far lower than the actual purchase price. The property purchase tax can, however, change (your agent will keep you informed).
8. Utility connections and additional costs.
Once the property is in your name, your agent will help you arrange for the utilities. Both water and electric are subject to a minimal, one-off, transferral fee.
Other compulsory payments:
- DASK (earthquake insurance) is compulsory in Turkey and paid on completion, and then yearly thereafter.
- Council Tax in Turkey is a low yearly fee, paid to the local council (municipality).
Angel Homes will ensure that all utility and council tax fees are paid up to the date of completion by the vendors.
9. Organise the running of your new home.
Now that the property is in your name and in full working order, you will probably need to organise the running and maintenance to keep it in good shape. Angel Homes have a full aftersales service that can organise the general upkeep of your home, in addition, we can also arrange garden and pool maintenance, or rentals should you want to make an additional income. Please CONTACT US for more details.
If you still have any questions or concerns on how to buy a property in Turkey, please speak to us or take a look at our FREQUENTLY ASKED QUESTIONS (FAQs) page for more info.
