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Legal Information

Legal Information

Buying Property Procedures in Turkey

The procedures for buying and selling a property in Turkey are considerably easier, faster and more reasonable than they are in many other countries. As long as the Real Estate that foreigners are willing to buy, is approved under the local or private construction regulations, they will be elligible for a title deed, able to sell, and in the event of death, their immediate family will be able to inherit their property in their name.

The transfer of the property is made by the Land Registry Office of the relevant district.Patara Property does legal checks on the property to ensure a clear transaction before marketing the property.

Procedure For Foreigners Buying a Property In Turkey

1 - The preparation and signing of a contract that is arranged by agreement between the vendor and the buyer.

2 - According to the payment regulations in the agreement a deposit is paid to reserve the property. This is usually approximately 10% of purchase price.

3 - Application for Power of Attorney by the Real Estate Agency or a Solicitor for the purchase of property and the transference of water and electric subscriptions. This Power of Attorney is limited to the period of the purchase and only permits purchase of the property on behalf of the buyer.

4 - Application for military clearance for the title deed transaction.

5 - Obtaining clearance from the military and completion of the title deed transaction.

6 - Payment of the Property Purchasing Tax.

7 - The transfer of electricity and water subscriptions into the buyer's name.

After these easy and short procedures, the transaction of the property will be fully completed.

Legal Documents That Are Necessary For The Title Deed Registration Office

1 - Four portrait passport photographs suitable for legal documents.

2 - Power of Attorney for either the Real Estate Agency or a Solicitor.

3 - Passport and photocopy of passport for application for Power of Attorney.

4 - Tax number from the Revenue Office.Patara Property will arrange this on your behalf.

The follow up of procedures and documents mentioned above will be taken care of by our agency.

The Cost Of Buying Property & Additional Costs

Real Estate Agency Fee : 3 % + VAT service fee over the actual sales price of the property from each party.
Buying Property Tax : 3 % on the ‘declared’ value of the property to be paid to the government.
(e.g: if buying price is 100,000 TL then fee is 100,000 x 3% = 3,000 TL.)
Aplication Fee : 250 TL
Translator & Notary Fee : 500 TL
Solicitor Fee : 1000 TL
Elecricity and Water transfer : 2000 TL (Approximately)

                                                                

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