SALES PROCEDURE- PURCHASE
The buying process is very smooth in Turkey; once you have seen the property that you would like to buy and agreed on the selling price, the Sales and Construction Agreement (Purchase Contract) can often be drawn up within the same day both in Turkish and English.
Step By Step
1 - Deposit
- You will be expected to pay a deposit to guarantee your purchase.
- This is payable by cash or credit card (note: Personal cheques are not accepted by banks in Turkey).
- Depending on the build stage, an initial payment of 10-35% of the property price is usually required.
- The exact figure will be confirmed individually at the time of purchase.
- When this is paid a receipt is given and the amount received will be written into your contract.
2 - Contract
- Both buyer and seller sign a contract setting out ;
a - The purchase price
b - Agreed payment schedule c - The names of the
buyers and sellers
d - Full property details e - Obligations of both parties f - The completion date
g - All terms and conditions applying to the completion which ensure that the property is free from restrictions.
3 - Documentation
- Your passport details are required to purchase a Turkish property along with a local tax number.
- A tax number is easily obtained and is also required to open a Turkish bank account (for the transfer of funds) to sign up to utilities and obtain the title deeds of the property in your name.
-A member of us will take you to the local tax office to obtain a tax number for you.
- You will also need a number of recent passport size photographs. Again, our staff can help you arrange this locally.
4 - Notary & Power of Attorney
- There are various forms that are required before completion and it may not always be possible for you to be present at each stage of the buying process.
- You may therefore wish to appoint a Power of Attorney to attend in your place.
- This is normal practice and is done at the local Notary Public. - Power of Attorney can be given to your lawyer if you have used one, a husband/wife, partner, our office staff in Turkey or anyone else you trust.
5 - Payment Method
- Before signing the on the property you wish to buy, we will agree on a payment structure suitable for both parties (buyer/seller). - The most recommended method of payment transfer is to open an account with a Turkish bank. - You can then transfer the money on each agreed date from your bank account by simply filling out a transfer form by giving the name, address, branch code and IBAN (International Bank Account Number) of your Turkish Bank account.- Once the funds have been cleared in your account, we can collect the payment via your nominated Power of Attorney.
6 - Military Permission
- The builder / seller must apply for Military Permission. - This procedure is standard for all foreign purchases in Turkey. - The checks are to ensure that the land on which your property is built is not in a military, strategic or security zone. - Once you have clearance, then the title deed process shall start. - It is important to note that the military search period may take up to 2 months
7 - Title Deeds
The title deeds (known as “TAPU” in Turkish) will be signed at the Land Registry Office and the buyer should pay all costs and taxes related to the transfer of the title deeds.