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Only when you are ready to buy do we arrange for the legalaties to take place for your purchase, which includes drawing up of a sale agreement for your property purchase, the legal requirements with the notary's office. Financial advice can be given and when ready you will be required to pay a 10% deposit which can be wired from your chosen bank in the UK ( You do not need to bring a suitcase full of cash with you!! ). All properties are freehold and will offer proper legal title deeds. On new developments there is a system of stage payments which can vary between each developer, full advice will be given before proceeding with any purchase on new developments
After your purchase is approved by the authorities, (approx takes 12-16 weeks), you will then be required to wire the balance of your purchase within a two week period. We offer the complete service of organising all these legalities on your be-half.
Purchase Procedure and Details of Costs
Buying a property is usually straight forward and the most popular type of title deed, is called a tapu. This is similar to our freehold deed which can be passed on to any family member. Once your offer has been accepted, the whole process generally takes 3 to 4 months.When the seller accepts your offer the buyer pays the seller a 10% deposit of the total property price, or a holding deposit can be made of say £500-£1,000, and the deposit balance can be bank transferred within 3 weeks of returning to your home country.
An application is then made to the military to approve the sale. The military check that the property is not in a politically sensitive area (e.g. overlooking an army camp) and that the buyer has no criminal record in their home country. This approval process is a formality that must be undertaken and generally takes about three months. Once military approval is received the buyer then arranges to pay the remaining 90% and the title deed is transferred to their name. The lawyers carry out the buyer’s conveyancing and other investigative searches and draws up a legally binding contact between seller and buyer and oversee all paper work throughout. Mainly, All contracts and documentation are, in general, drawn up in both English & Turkish, which fully explain the terms of the sales contract and provides legally binding protection for both the buyer and seller under the terms of the contract. A lawyer will check that: -
The title deeds of the property are in order The person selling the property is the registered owner There are no debts or charges on the property Building Licenses and permissions (e.g for extensions) are in order. Terms & Conditions of purchase
For clients who cannot wait for the military approval process who require immediate possession of a property our lawyers have a special procedure that protects both parties, and legally protects the tapu. For more information on this procedure please contact us.
Once the property is in your name we continue to help clients as long as they need us until they settle into the routine of owning or living in a property abroad. In addition to the property price there are the following additional costs which need to be budgeted for:
Approx £900 for military approval process (this amount varies according to district) 3% estate agency fee (of the property price)
Purchase tax on the declared price of the property. Notary & Translation fees
If you have any questions about the purchase procedure or any aspect of buying a property in Turkey please contact us.
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