How to buy property in Turkey
The Buying Process
Most people are surprised at how straightforward the property buying procedure is in Turkey. Once everything has been agreed, a property transaction between two Turkish people can be completed in an afternoon. For a foreign buyer it takes significantly longer only because of the need for official permission from the military authorities for property buying. Below is an outline of the main parts of the property buying process.
Infinity Home’s Representatives will show you many property options from our portfolio – ones you will find property of your dream. We will show you brand new properties build by Infinity Homes and also resale houses. If it goes to resale house Infinity Homes will conduct a search at the Registry Office to confirm that the property in Turkey belongs to the seller or they have the authority to sell the property in Turkey on behalf of somebody else. We will also check that there are no outstanding debts or charges restrictive covenants or redemption rights against the property in Turkey. It is important to make sure that all the appropriate planning regulations were followed and building permission was granted.
Deposit & Contract
After the initial searches have been completed, it is normal to pay a 30 % deposit to hold the property during the military investigation process. Payment of the deposit should be recorded in a contract, which is signed both by the seller and the buyer.
Foreigner buying property in Turkey must be approved by the military authorities. During the military permission process the authorities check that the property is not in a military restricted zone and keep records how many foreigner buying properties in Turkey. The military investigation takes 6-8 weeks.
Once you have received the confirmation from the military authorities you can proceed with the actual transaction. This usually conducted in the local land registry office. At the presence of a land registry official, the transaction of the currant title deed (TAPU) to be issued in the buyer’s name. As the legal owner, your name and details will now be on the registry Office. Additional copies of the title deed can be ordered from the Registry Office for a small charge.
Obtaining a Tax number
Once you have purchased a property in Turkey you need to register with the local tax office who will issue you with a tax identification number. Your solicitor can perform this for you following the exchange of title deeds for your property in Turkey.
The cost is transfer tax of 4% based on the declared value of the property. Infinity Homes covers all costs even transfer of utility bills to your name.