Buying process in Turkey is a simple, easy and fast process, compare to many other European countries. The whole process is very secure and safe. We would like to briefly explain the main steps to the buying process in Turkey.
We start by taking you to our office, there you will gain an insight into the local area and all that it can afford you. You will then be able to look at all the property options in the area or areas of your choice, we will then organise viewings of these properties. From viewing a property to owning it can be done within 3 days.
From meeting at our office, we wiill proceed to the tax department. Where we will get a tax number, this is used with nearly all legal documents involving money. You will need your passport and a photocopy of it for the tax office.
We will then help you to open up a bank account in Turkey. You will need the account to make the payment to the owner/builder of the house. there are a number of banks, HSBC, Akbank, TEB, Ziraat, Iş and Halkbank being the better known. It is advisable to bring 'proof of address' such as utility bills.
When you have chosen a property we will make an application to obtain a valuation report .This will take two days to get. The report will show the market value of the property and compare to the other properties in the area. This report will protect your investment and you will have full market knowledge.
When you have chosen a property, obtained a valuation report and agreed a price, a number of things have to be put in place. You will pay an agreed deposit and sign a sales agreement, this will be written in English and in Turkish. You will keep one copy, the other is kept by the seller. Full payment for your property will be outlined in the contract/agreement. Once signed, the contract/agreement is legally binding.
According to Article 13 of the law issued on 01/24/2022, all foreign persons wishing to buy a property in Turkey are ...obliged to pay the price of the property to be purchased in the local currency of the Turkish Republic by transferring their money from foreign currency to Turkish lira through a bank. And by the intermediary bank to the central bank, and then the payment is made to the seller and the ownership is transferred to the name of the buyer. That is, the decision applies to all foreigners who come to buy a property after January 24, 2022, and the purchase process will not take place without doing so. The currency exchange certificate(DAB) is a paper document that shows the sale of foreign currency to a bank operating in Turkey to be sold to the Central Bank before the ownership of the property is transferred from the seller’s name to the buyer’s name.This document must be submitted to Land Registry before the title deed transfer.
The Tapu (deeds) are handed over when full payment has been made, this is the legal Turkish document giving you ownership of the property. (We will help you to apply and obtain your tapu, organising the payment of government taxes, any commission agreed and overseeing the official transfer of the deeds at the tapu office). It is a requirement that you are present for the tapu application and its collection.
The officials will register your property details into the National online registration system of the Land Registry.You will only wait 10-15 minutes to get an original copy of your title deed.
Once you have purchased your property we can help you to buy furniture, white goods, soft furnishing and any other items you may require. We can also take care of your property when you are not in Turkey, by offering a comprehensive after sales service.