The procedure for buying a property in Turkey?
Turkey is a fast growing market for real estate investment, thanks to favorable weather all year round, beautiful beaches, great cuisine, unique nature and cultural heritage. Turkey is an attractive destination for foreign investors due to its affordable prices, fast return on investment, quality of life and high level of security. Taking into account the current rights and favorable conditions for the buyer, the purchase of real estate in Turkey is an absolutely safe and profitable investment.
It is extremely important for you as a buyer to familiarize yourself with the terms and conditions during the decision making process. The procedures involved in buying property in Turkey depend on what type of property you have decided to purchase. Our initial communication starts with either a phone call or email, followed by an invitation to a Inspection tour (see the Free Real Estate Tour for more details)
1. "Inspection tour of real estate"
Din Bolig Alanya Real Estate Inspection Tour begins with a meeting at our offices and discussing the right property options for you. Upon request, our agent can pick you up from your hotel or other place where you are staying.
Below we show you suitable accommodation options and the surrounding area. This process takes place in a comfortable environment, since we do not insist that the client must purchase housing “here and now”. We understand that buying real estate in Turkey is an important and responsible step, and we want our clients to be confident in their choice.
2. Pledge and sales contract.
Once you are confident that you have found your dream home, the next step is to sign the purchase agreement and post a pledge, usually $ 5,000. At this point, you will need your passport. The purchase and sale agreement must be concluded in two languages (Russian, English and Turkish).
The contract must indicate:
• Data about the buyer and the seller;
• All information about the property you have chosen (layout, footage, commissioning date, land plot number, etc.);
• Full cost of the property;
• The amount of the advance;
• Payment schedule;
• Obligations of both parties;
• Terms of registration of the object in ownership;
• Additional conditions.
The following documents are usually submitted to the Cadastral Department:
- 1 photo
- Original and photocopy of identity card (kimlik)
- Turkish identification number
- Photocopy of TAPU
- Declared value received from the municipality
- Photocopy of earthquake insurance (for residential property)
• Passport and photocopy of the passport of the real estate buyer;
• Two color photographs, 3 by 4;
• Local tax number.
Two copies of the agreement are signed - one for each party. The contract, which sets out all the conditions related to the sale, is legally binding. At this stage, we also offer additional assistance, including buying furniture, obtaining a tax number and opening a bank account.
The purchase and sale agreement specifies the currency in which the payment will be made and the procedure for payment:
• Security deposit (usually USD 5.000) upon signing the sales contract
• Full payment on the day of transfer of the Title Deed (TAPU)
Sometimes, by agreement between the seller and the buyer, the payment procedure may differ:
• Security deposit (10% of the cost of housing) upon signing the purchase and sale agreement
• The second stage of payment, when the payment is usually split into 3-4 months
• Final payment on the day of transfer of the Title Deed (TAPU)
3. It is necessary to obtain a TIN (Taxpayer Identification Number)
Needed to open a bank account and register your property.
The procedure for obtaining a TIN is very simple and takes only 5-10 minutes. It is only necessary to provide the original passport and write the name of the parents (mom and dad).
4. Submit documents to the Cadastral Department
Necessary for registration of ownership (TAPU) to the acquired property. The procedure for registering real estate from the date of submission of documents to receipt of TAPU under the new rules takes 3-5 working days.
5. Preparation of the Assessment Report
After payment, a real estate appraisal report is required before obtaining a title deed. In preparing the appraisal report, the expert checks the property itself, takes photographs, checks the registration with the Cadastral Office and the registered plans with the municipality, and finally collects comparative information on prices. It takes 2 days to prepare the report.
6. Get TAPU
After obtaining permits from government agencies, the State Registration Chamber issues a certificate of ownership - TAPU - in the presence of the seller, buyer and licensed translator. By this time, should a complete settlement has been made between the buyer and the seller, all taxes and state duties have been paid.
Congratulations! You are a proud owner of real estate in Turkey.
The following methods and procedures must be followed when submitting applications;
• Submit your application to the land registry yourself or through your attorney, whom you have fully authorized legally (by power of attorney).
• Since, in accordance with current legislation, it is impossible to use any other document other than an identity card and a passport as an identity document in property rights transactions, present the original of any of these documents.
• If at least one of the parties to the transaction is illiterate, submit a statement with two witnesses, if they are hearing impaired or do not speak Turkish, submit a statement with two witnesses and a sworn translator.
• The power of attorney to be used in title transactions must be properly drawn up by a notary and photographed.
• Be sure to read the documents you sign. If you are in doubt, consult with the responsible officer or manager and sign after your doubts have been resolved.
• If the party to the transaction is a company subject to the Turkish Commercial Code, you must submit an application from the commercial register where the company is headquartered, together with the certificate of authorization, the year of issue and signed (original or notarized).
• In all transactions, the parties, along with an identity document (passport, kimlik), indicate their taxpayer identification number. In transactions involving legal entities, the tax number of the company, the passport of the authorized representative of the company and the identification number.
• In transactions related to the transfer of title to real estate under an agreement, provide photos of the recipient for the last six months and two 6x4 photos of the transferred person, as well as a photo of the attorney of the same quality if the transaction is carried out by power of attorney.
• If the property type is residential or has separate residential units, you must provide a Compulsory Earthquake Insurance Policy (DASK).
After submitting the application, when the transaction documents are verified and ready for signing, you will receive a message on your mobile phone from the management. This message reads: "After paying the title fee, come to sign now ...". Here it is useful to find out about the fee for the document and get a printout and find out the amount of the payment without contacting the bank. Pay the commission at any of Halkbank, Vakıfbank and Ziraat Bank and show up at the land registry with payment receipts and pasaport (kimlik) at the specified time to receive the TAPU.
Best regards Din Bolig Alanya!