1-The Buying Process and Legalities

Buying a property in Turkey is not dissimilar to buying property elsewhere in Europe and in fact is probably easier.

Payments; If you decide to buy, you need to reservation fee to secure the property. This will hold the property until the deposit is paid, normally after the Contract of Sale is signed. You will also be informed of the payment plan and terms and condition of sale.

Legalities; An Independent Solicitor (English speaking), appointed by yourselves or recommended from us, will draw up the Contract of Sale between all parties.

The solicitor will make sure that the title of the property is checked to make sure that;

• We can sell the property

• Whether there are any charges on the property.

• That building licenses and permissions are in order.

• The terms and conditions stipulated in our contract are checked for fairness.

The Contract of Sale will be drawn up in both Turkish into English by the legal translator. The buyer (or the solicitor on behalf of the buyer) and the seller has to sign the Contract of Sale, and each party will get a copy of the Contract of Sale.

Power of attorney; as you are unable to stay in Turkey for a long period, we recommend that you give the power of attorney to your solicitor who will be able to act on your behalf and do the rest of the procedures. To be legally binding, this has to be done at the notary in presence of a translator. You can even give your solicitor the power to open a bank account in your name if you don’t have time. Please note that giving the solicitor Power of Attorney does not give him any claim over your property, it will be your name and picture on the title deeds.

Military Checks; Your solicitor will arrange for the paper work to be sent to the title deeds office for the transfer of the title deeds into your name. The title deeds office will send the passports and title deeds to Izmir for the military to check.

This check is compulsory for all foreigners and normally is just a formality. It involves checking that there is no record of criminal intent or activity against Turkey and that the property being purchased by a foreigner is not in the proximity or intended to be used for any military purpose. This can take 3-6 months currently.

Release of the Title Deeds (Tapu); once the title deeds have been authorized your solicitor will inform you. The release of the title deeds from the title deeds office is signed in the presence of the notary by the buyer and the seller. You can either attend the signing in person or appoint someone as power of attorney to attend on your behalf (which your solicitor can do for you - if so, we will email / post a copy of the title deeds to you for your records, and the original will be kept at our office and you can collect them when you next come to Turkey.)

At this time, you need to usually pay the buyer’s tax, earthquake insurance and the water and electricity connection fee. We will inform you of all payments that need to be made.

The solicitor will then arrange for the new title of the property to be registered with the local council office (for property tax purposes). Please note that our properties have Freehold titles.

Before you leave Turkey we advise you, if you haven’t done so, to obtain a tax number from the local Tax Office and to open a bank account to enable you to transfer funds and do all kinds of payments such as electricity and water bills, or for rental payments if you let your property.

2-Buying Costs in Farilya’s Gardens (as a guide)

• Agents Fees

Typically in Turkey, it is 3% from the buyer and 3% from the seller.

As we are developer, our new property is not subject to any agent’s fee.

• Lawyer’s Fees

Lawyer’s fee, depends on the Company, but typically between £400 and £1,000.

Notary Fee (Lawyer’s Power of Attorney and translation) is typically £120

• Additional Notary Fee (if buying from UK) is typically £100
• Official Taxes and Levies

Real Estate Tax is 3% of the declared property value.

• Map searches and Military clearance, between £600 and £800
• Stamp duty 0.75% of declared property value.
• Government Earthquake insurance typically about £50 (depends of building)
• Connection to Local Services

Water connection:  Free (we have our private artesian well)

Electricity connection:  About £ 80

Electricity meter: Offered and installed by the company

Optional Telephone Connection is about  £ 20