On our first meeting we will talk through your requirements – your budget, your accommodation needs, are you buying for pleasure, or investment, or indeed both, will you want to rent the place out, do you intend spending a large part of the year there, or just a few weeks in summer…
Based on this knowledge we will gather a number of properties that we feel suit your requirements, and arrange a number of viewings. We want this part of the process to be enjoyable, informative and ultimately satisfying.
So far this is pretty much similar to buying a property in the UK. However, when you find something you want to buy we will work with you in negotiating with the owner on your behalf, to ensure you get the best possible deal.
The legal procedures are really quite straight forward. We Bargain Holiday homes your agent will carry out all the searches on the Title Deeds for you and ensure that there are no outstanding debts registered against the property and that the seller is actually the person detailed on the Title Deed. Thereafter a sales contract will be drawn up between the buyer and the seller. (The contract should contain the following:
• Details of the purchased property and full names and addresses of the buyer and the seller
• Details of payment times and how these will be paid
• Any extras included in the sale price
The buyer will then be required to pay a deposit in order to secure the chosen property. At one point during the purchasing process it is advisable to open a Turkish bank account; we will help you with this. There is then normally a wait of 12 to 16 weeks (however, at present due to the volume of applications, the wait can be longer) for the paperwork to be cleared by the Army in Izmir.
If purchasing off-plan from a builder, there will normally be scheduled payments arranged during the construction of the property. These arrangements will be detailed in your contract, along with any other “extras” from the builder and any penalty clauses you may want to add. Unlike the UK, it is not necessary to use a solicitor to conduct the conveyance for you. Your agent can do this for you!
However, for your own peace of mind you may wish to, and we at Bargain Holiday Homes would recommend, engage the services of a solicitor (cost approx Ł350 pounds) The Title Deeds formalities can all be carried out in your absence by leaving a Power of Attorney with either your agent or with your solicitor. Should you decide to use your agent for this work, they will take you to a notary to arrange this Power of Attorney. There is an official translator within the notary's office to ensure that you understand the Power of Attorney.
What is a Sales Contract and a Title Deed? And what is a Tapu?
You will come across both the Sales Contract and the Title Deeds when buying your property in Turkey - in fact they are the most important documents in the whole process.
The sales contract is the legal document that agrees the sale between the buyer and the seller. The contract should state that you the buyer agrees to buy the property at the price you have agreed to pay, and the date by which you agree to pay it.
The contract will also state that the seller agrees to sell you the property at the agreed price. (Please remember that deposits are usually non-refundable in the event of a cancellation of sale by the purchaser) The sales contract will also include any extras that you have negotiated with the seller.
The Title Deed is the legal document of ownership of the property. The Turkish name for this document is "Tapu Senedi", hence the Tapu you may have heard about. Once the property is sold, the title deeds are transferred from the seller to the buyer and that concludes the sale.
In order to have the deeds transferred into your name, the details of the sale will be submitted for security clearance (military check) and once clearance has been given, the deeds will be transferred.
FOREIGN CITIZENS WHO CAN LEGALLY BUY AND OWN PROPERTY IN TURKEY.
All citizens of the countries listed below can legally own a real estate in Turkey due to reciprocity principle and are liable with the same rights / procedures as all the Turkish citizens. Presently a new law is pending which may allow this list to open up to other countries in the near future. We will update the list if/when this happens.
Argentina, Australia, Austria, Barbados, Belgium, Bosnia-Herzegovina, Brazil, Canada, Central African Republic, Chile, Colombia, Dominican Republic, Egypt, El Salvador, Federal Republic of Yugoslavia (Serbia), Finland, France, Gabon Germany, Greece (providing that some restrictions are reserved), Guatemala, Holland, Ireland, Israel, Italy, Kenya, Luxembourg, Malawi, Malaysia, New Zealand, Norway, Panama, Republic of South Africa, Peru, Somalia, Spain, Sweden, Tanzania, Turkish Republic of Northern Cyprus, Turkmenistan, UK, USA, Venezuela, legal immigrants and World Citizens.
The real property acquisition of nationals of the following countries depends on some provisions and permissions:
Cibuti, Chad, Denmark, Philippines, Ghana, South Korea, Haiti, Croatia, Iran, Japan, Switzerland, Lebanon, Macedonia, Mexico, Nepal, Nicaragua, Pakistan, Poland, Portugal, Singapore, Uzbekistan, Greece, Sri Lanka, Togo, Trinidad - Tobago, Uganda, Jordan.
Once the deal has been agreed we will go to a legal Solicitor where a contract will be drawn up between yourselves and the seller, confirming the price, and agreeing on dates of transfer. We would require from you two passport sized photographs of the person/s whose name will be on the property deeds (the Tapu), plus a photocopy of your passport. At this point your deposit is paid to the seller and the Tapu is sent off to the City Council. Typically the payment plan requires an initial 10% deposit to secure the property.
