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Buying property in Turkey is a straightforward process and very similar to purchasing property anywhere else in Europe. It is very important for potential investors to be familiar with the key points in purchasing. Though not compulsory, you need not use a solicitor in your purchase, however we strongly recommend that you do use a solicitor to ensure that the property you are purchasing is legal and that the sale is recorded accordingly.
The buying process is a simple one for Turkish nationals with a purchase being able to be completed in one day; however, non Turkish nationals are only allowed to buy property within designated areas where there is an established Local Council (Municipality). In addition purchasers must get official permission to proceed from the military authorities through a Military Check. Breaking the process down can simplify your purchase, there are four main elements to consider once you have found your property and are ready to proceed, these are:
As in the UK and other countries, it is normal to secure a property through a deposit or reservation fee. In Turkey a typical deposit ranges from around £1500 to £3000. If demand for property is high you may wish to reserve a property you are interested in prior to an Inspection Visit to avoid disappointment, this can be done easily and along with normal deposits, fees can be put on a credit card for convenience.
A solicitor can carry out the necessary searches to ensure that the property you are purchasing is legal, the seller is the legal owner, and that all necessary permissions for the property build have been obtained and approved such as planning permission, or ensuring that the property is not located within a Military security zone etc. In addition these searches also ensure that there are no outstanding debts against the property. Searches normally take a few days to complete.
When purchasing a property in Turkey, foreign nationals must be approved by the military authorities through a Military Check. This process is carried out by the authorities to check into a purchaser’s background and the location of the property. The military check (or investigation) normally will take 4-12 weeks to complete and approve, but this timeline is dependent on how busy the authorities are.
As soon as the military authorities have given permission to proceed, the next stage is completion. This is done at the land registry office (tapu dairesi), or occasionally in a Notary Public, and the procedure involves the seller, or their legal representative (by power of attorney), giving consent for a new title deed (tapu senedi) to be issued in the buyer’s name. The formalities take anything from minutes to several hours.
Off plan property is property that can be purchased prior to its building or completion. Purchasing is normally in the form of stage payments by instalments. Typically a deposit followed by 1 or multiple payments until completion when a final payment is made.
The process of purchasing off plan is relatively simple. Reservation Fee - once you have found your property by paying a reservation fee (normally 1 or 2% of the purchase price) secures the property for 30 days to allow for financial arrangements to be made and a solicitor to check over the contract (private purchase agreement)
Private Purchase Agreement - This is a contract that lays out the details and conditions related to the building specifications of the property, an estimated time plan for completion, checkpoints and terms and conditions for payment, along with the buyers and sellers responsibilities.
Payment of a Deposit - Once the agreement is signed a deposit is payable, typically between 10 and 30% (depending on the terms of the agreement) representing the first instalment. Securing Purchase - On signature of the agreement by both parties, the property is considered sold. The agreement protects the buyer because after signing the contract, the owner cannot increase the asking price, even if a higher offer from a third party is made. The seller is also protected, as the buyer will be required under the terms of the agreement to make payments at specified intervals during the building process.
Military Checks - Once the contract has been signed and the first instalment has been paid, the process of applying for military clearance can begin. The property title cannot be transferred to a foreign purchaser before the clearance is received. As soon as military clearance is granted and the construction of the property is completed, the title deed (tapu senedi) will then be registered in your name.