How to buy a property in Turkey
In this article we will explain all the necessary steps, documents and extra expenses for buying a property in Turkey.
How to buy a property in Turkey
1. Fill out our request form.
- What is your purpose in buying a property in Turkey?
- Which city and region do you choose?
- How much money do you have to buy a house?
- What features should the house you choose have?
2. ComTurkey’s experts help you find the best possible choices.
- Our experts will prepare and offer the best available options for you according to your request.
- Each of your questions will be answered accurately and in accordance with the most recent updated conditions and rules.
3. Visit the Selected Choices.
- Together with our experts, you will visit the initially selected items closely.
- The advantages and disadvantages of each case will be explained to you by our experts.
- Building documents such as title deed (Tapu), habitation license (İskan), etc. will be shown to you if needed.
4. Negotiation and signing the contract.
- With the advice and support of our experts, you will enter into negotiations directly with the seller to buy a property in Turkey.
- Terms of payment, time of preparation and delivery of the document, delivery of the property and other conditions will be negotiated and decided.
- Finally, the sales contract prepared by our experienced lawyers will be signed by the parties.
- If necessary, a certified official translator will be present when signing the contract to translate the terms of the contract into your native language.
- According to the Turkish laws, the buyer and seller of a property should pay 3% of the total sales amount individually to the real estate company as a service commission. So please include this in your overall costs.
5. Leave a holding deposit.
- After signing the contract, you must pay an amount of at least 2,000 € as an advance payment to reserve the property.
- This amount will remain with our company as a deposit against a receipt and will be paid to the seller on the day the title deed is transferred into your name.
6. Get your Tax Number and open bank account.
- With your passport in hand, together with our experts, you go to the tax office to receive the tax number and then to one of the branches of Turkish banks to open an account.
- To open an account, you must be authenticated and your residence address in your own country must be provided by a water or electricity bill.
7. Appraisal Report.
- According to the law, before the property is bought or sold by foreigners, the property must be inspected by a Capital Markets Board licensed independent appraiser and a documents verification report must be submitted to the land registry office.
8. Get your DAB
- Note that the price recorded on the title deed is usually less and about 40% of the amount you agree with the seller. And this amount should be transferred to the seller’s account through banking system. So to buy a property in Turkey, you have to exchange the equivalent amount into Turkish lira through your bank account and in return you will receive a document called DAB from the bank.
- The bank will collect a small amount of money for this service. (avg. €100)
9. Application to the Land Registry Office.
- After receiving the appraisal report and DAB document, and completing the buyer identity form (with your photo on it) accompanying the experts of our company, you refer to the land registry office to submit your documents. Within 7 to 10 working days, the appointment date and time will be determined.
- You must pay approximately 100 Euro as a fee to the Land Registry Office.
- Also, 4% of the price recorded in the title deed should be paid as tax by the buyer.
10. Sign the documents and Get Your Title Deed.
- On the appointed date, along with the official translator, you will go to the registry office to sign the documents and receive your title deed. Congratulations.
- Do not forget that after obtaining the property document, you must register it in the municipality of your area.
11. Connection fees for utilities such as electric, gas and water.
- In order to get electricity, water and gas connection, you must insure your property against earthquake first.
- Then, together with the experts of our company, you will refer to each of the above departments and after completing the application form and paying the relevant subscription fees (100 € as a deposit for water and 20 € for electricity) you will get the connections.
We hope that our article about How to buy a property in Turkey would be helpful for you.
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