Our buyer’s Guide can help you know and understand step by step process of the best way to buy real estate in Turkey. From beginning your search to finding your property to having your paperwork in order and closing the deal to getting your keys and the after sale
It can seem overwhelming but with Property Sale Turkey we take away all your concerns and stresses, so buying a property in Turkey is a very easy process. Being part of a boutique real estate network, we have extensive experience and knowledge in Turkish Real Estate Market.
When looking at buying a property anywhere it is never easy to understand and know where to buy and what is good value, whether it is for investment to rent out, a holiday home or your permanent residence.
Your search – finding a property in Turkey
Once you have found a property you would like to know more about? Get in touch to get more information.
Not yet found what you are looking for? but would like to have our team of experts help you in your quest then get in touch and advise us of your requirements, locations, views, type of property villa, house, apartment, number of bedrooms, bathrooms etc, land, commercial, residential and price range and we can then begin looking for the perfect real estate to suit your needs.
We will assign one of our professionals to take care of you right throughout the whole process, from arranging the property particulars to be sent to you, your viewing and will answer your all your questions, from the property itself to location, amenities, facilities and features of the development to deciding and signing the contract and becoming the owner.
Mortgage in Turkey
Foreign nationals and Turks living abroad can easily access a wide range of Non-Resident Mortgage products both for residential and investment purposes.
Property Sale Turkey and its partners have fantastic relationships with some of Turkey’s high-street banks and will be glad to help you to search and get a mortgage in Turkey.
If you are not a Turkish national that is fine, as foreign nationals can get mortgage from the Turkish Banks to, up to 60-70 percent of the property’s value. The mortgages are offered in Euro, Dollar, Sterling (GBP) or Turkish Lira.
Before coming to Turkey if you do not reside here all ready, we would recommend searching your mortgage options before arriving in Turkey, so that you know exactly how much you can afford to spend on your Turkish property purchase. Some of the construction companies here, offer instalment payment plans too.
Viewing the property?
We can do this in person or video call whatever you prefer. Should you wish to do this in person which we would recommend, we can arrange a date to do this. If you are not in Turkey, we can help organise a trip especially for the viewing.
Our agents are experienced professionals in the Turkish real estate market and bring a wealth of knowledge to guide you step by step. When choosing Property Sale Turkey our agents we will to you accompanying you throughout the whole process.
Signing the Sales Contract
The most important part of the process is of course once you have reached an agreement to buy a property in Turkey, both the buyer and the developer of the project is also invited to meet together where a purchase contract is prepared according to the property details and requirement of the sale.
The sales contracts are prepared by lawyers, in Turkish and English as well as any other desired language, where we will explain all parts and details before we sign them together.
The contract is to be signed by the buyer, the construction company and Property Sale Turkey’s representative. The contract will be in Turkish, in English and of course if they want in the buyer’s mother language.
After signing the contract, the buyer will make a deposit also known as down payment which is is usually of 10-15 percent of the agreed sale price.
Transfers of Money & Payments
As the buyer can make a payment plan after signing the sales contract with the developer and can transfer money to the developer’s bank account. The remaining payments of the property due, are paid as part of the take-over process. We of course will help our buyers get a good payment plan from the developer should you wish.
You will need a Turkish Tax Number
To buy a property in Turkey, you need to have a Turkish Tax Number. We can help you obtain this from the Tax Administration Office.
Do you need a Turkish Bank Account?
You will need to open a bank account in Turkey to make money transfers, pay taxes and the utilities and etc. This is something we assist you with here in Turkey.
Do you need a Power of Attorney?
We highly recommend you give only the needed powers such as buying the property, making subscriptions of water, electricity, gas etc
Should the buyer’s wish, they can give power of attorney in Public Notary in order to obtain ISKAN and make water/electric subscriptions and follow other matters. The buyer, a sworn translator should be in the Public Notary Office and this process takes about 1 hour. By giving power of attorney, you avoid travelling several times to Turkey.
What are the costs of buying property in Turkey?
Title Deed Expenses is 4% of the declared Value.
Approx. 50 euros annually for property tax.
Approx. 200 euros electricity and water subscriptions
Approx. 50 euros condominium fees depending on size of apartments and facilities
Approx. 3 percent on agent commissions on resale properties
Glossary of terms:
Official document that shows your ownership over the property and is issued by Landy Registry Office. It is the most important document since it is the proof of ownership of the property.
A Habitation Certificate that includes all technical information, approved by the State Committee in the local Municipality.
Power of Attorney
Power of Attorney means “A person may act on your behalf for certain powers” Your name and picture will be on the Title Deeds (Tapu).