BEFORE YOU BUY PROPERTY?
Freehold property and land may be purchased by most foreign nationals, from Turkish national or another foreigner, provided the property or land is in the local district municipal and outside of military areas. After an agreed sale, in order to acquire the title of a property, an application has to made to the local Land Registry office.
How to buy a Turkish real estate? The title may be transferred once checks have been made that the property is not close to any sensitive sites in terms of national defence etc, it takes about 6 to 8 weeks. Once a positive reply is received- which is a certainty as we would not proceed with a sale that may not be permitted- the final stage of the sale can take place. This involves another visit to the land registry to sign the final papers showing the property in the purchaser's name. However, it is not essential that the purchaser is present as his agent or his solicitor can sign the papers in his place.
When do You decide To Buy?
When you decide to buy you will need to put down a deposit, usually between 10 and 20% of the property price. Your passport translations and property details are then sent to the Army for approval and this normally takes 6-8 weeks. You do not have to stay in Turkey during this time and can sign power of attorney to us or a lawyer. (Power of attorney paperwork is easy and takes less than an hour to complete)
When the papers come back from the army we can e-mail you and you then send the balance of the purchase price and us, or your lawyer, complete the paperwork including registering the title deeds under your name and this takes approx. 1 week. Estate agents in Turkey can do the work of a solicitor with regard to property transactions and so lawyers are not absolutely necessary. For any further information please contact us. Gonenc Real Estate Ltd.