Foreigners
may purchase
land and
property in
Turkey under
their own names.
There are some
areas where
foreigners are
not allowed to
buy, to avoid
raising property
prices to levels
Turkish people
cannot afford -
a precaution we
think is very
sensible. (The
regulations for
ownership are
outlined in the
'Turkish Civil
Code', for a
foreign person
purchasing a
property.
When you
choose the
property that
you decide to
buy, Firstly you
have to put down
a small amount
of deposit
(usually £3000
- £5000 cash)
as a holding
deposit. Please
note that
foreign
cheques
are not accepted
in Turkey. But
they do accept
Travellers
cheques.
We proceed to
write out your
contract, on the
same day that
you pay your
deposit, item
per item the
contract is very
clear on
instruction on
how the process
works, and on
how the owner of
the property who
sells his
property to you,
would like his
payments made to
him. The owners
instructions are
listed in your
contract, and
signed on the
same day.
This process
takes between 16
and 20 weeks for
all your papers
to be returned
from Izmir,
hence is why we
give our
customers to pay
up to the 4
month payment
plan to allow
for the time it
takes for your
paper work to
return from
Izmir.
Please note
that it is very
important for
you our customer
to understand
that when you
give power of
attorney this
means that we
only have power
to act on your
behalf as the
buyer, this
legal notary
paper means that
in no way can we
sell your
property, it is
purely active
only for the
buying and NOT
for selling
process.
Normally, you
sign a paper at
the notary,
giving us the
power of
attorney to
handle
transactions in
your name. This
is to save your
time and money,
flying to Turkey
to sign the
deed-papers.
(You can do it
yourself if you
don't mind the
hassle of going
to the Turkish
Embassy in
England and
flying to
Turkey.
Alternatively
you can also
appoint a lawyer
for an arranged
fee without the
need to travel.
The paperwork
takes less than
an hour. Then
the papers will
be sent to Izmir
as mentioned
above. When the
papers come back
from Izmir, we
call or e-mail
you and then you
send the 75%
balance of the
property price,
plus the agent's
commission. Then
all the
paperwork and
procedure is
finished and the
title deed of
your dream home
is registered
under your name.
Money Transfer
is not a
complicated
process. All you
have to do is
open an account
with a Turkish
bank, of your
choice; free of
charge and when
you receive the
official papers,
give your estate
agent or a
solicitor, power
of attorney, to
access your
money from the
Turkish account,
on order to pay
the vendor. For
your own peace
of mind, you do
not have to
place any money
into the account
before this
time. Prior to
coming to Turkey
however, all you
will need is the
sort code,
account number
and home bank
details to
ensure trouble
free
transactions and
initial
transfers.
The taxes and
general expenses
cost £400-500
changes can vary
depending on the
price of the
property you
buy. This
includes the
money to be paid
at the deeds
office and so
on. In Turkey,
estate agents do
the job of the
solicitor;
officially you
do not need one.
But obviously if
you wish to use
one, you can. A
solicitor would
cost around £500.00
upwards
depending on the
area.