Step 1 - Property search
Initially Property Sun Turkey will arrange a portfolio of properties that we feel fits with your criteria to view.
Step 2 – Deposit/reservation
Once you have found a suitable property you will need to put down a deposit in order to secure it. This is usually 10-20% of the purchase price but the exact figure will be confirmed individually with the house owner or builder at the time of purchase. When the deposit gets paid, a receipt is given and this amount gets written into the sales contract.
Step 3 – Sales contract
At this point a sales contract is drawn up between yourselves and the seller. This will include information such as deposit paid, agreed sale price, date of transfer, and snag list if any. We will require from you two passport size photographs of the person whose name will be on the property deeds plus a full photocopy of your passport.
Step 4 – Power of attorney
Should you not be present in Turkey for the actual purchase of your property, you then need to go to the Notary's office (similar to Notary public in the UK) to sign a document giving your agent or solicitor, the power of Attorney for the property, not for money. This enables the agent to continue with obtaining the Title Deeds in your absence. The initial stage has been completed and you do not need to be present for any more of the property purchase transactions. Steps 2 to 4 only takes a few hours to complete.
Step 5 –Military approval
Details of the property and you (the purchasers) get forwarded to the Land Registry Office. An official transfer application is made and all documentations get sent to the Izmir Aegean Army for approval. This is to check that the property is not located in a restricted zone for foreign purchase etc. Approval normally takes 3 - 6 months.
Step 6 - Title Deed Transfer (Tapu)
Once military approval has been granted, the title deeds are re-issued into the new owners name and forwarded back to the local Land Registration office who, in turn contacts your agent. It is at this point that the last payment gets paid to the vendor/builder and the deeds are collected. Your agent or solicitor can pick up your deeds on your behalf if you have given them power of attorney. Your title deed can then be kept in a safe place pending your next visit.
BuyingCosts
Main Property Purchasing Costs
1.Purchase tax: 3% on the ‘declared’ value of the property to be paid to the government. As house prices are set by the City Council for taxing purposes, their valuation is much lower than the actual purchase price This is a one off payment and it is due once the TAPU is received (step 6).
2.The solicitor's fee:(should you require one, but Property Sun Turkey strongly advisess) Prices start from about £400.00 pounds and will vary depending on which solicitor you choose to use.
3.Agency commission: All Estate Agents in Turkey charge 3% commission to the buyer based on the Purchase price.
4.Notary charge: Approximately £100-150 notary charge for the power of attorney and the translation of your passport. This needs to be paid at step 4.
5.Map search: 2 maps are needed. The first is a map of where the property is located and is sent to the Izmir Aegean Army. This costs approx. £35. The second is a 1/5000 map used in the title deed process. This costs approx. £400 but price varies for different Municipality areas. (step 5)
6.Title deed registration: £ 30 registration of title deed in your name. This is paid in step 6 and is paid only once.
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