Gönenç Real Estate Company shares with the audience by making explanations about frequently asked questions. What are the essential notes for purchasing a property in Turkey?
• Please make sure that there is either semi or full relationship between your citizenship country and Turkey because, in case of a non-reciprocal arrangement, it is not possible to purchase property in Turkey in a foreigner's name.
• Please note that you will need to obtain a tax ID number (Vergi Kimlik No) which is required for opening a bank account, contracting goods and services (telephone, electricity etc) and dealing with local tax authorities. Your lawyer will advise you on obtaining one.
• It is strongly recommended that you take the appropriate independent legal advice before signing the sales contract or paying a deposit.
Before to arrange mortgage finance what we can do?
• Please ensure that you will have full title to the property on completion and that the appropriate documents are available for the lender. Properties can be purchased either individually or in joint names – max 2 applicants. All properties (in means of a residential building) must hold a “use permission certificate” in order to have water, electricity and sewage.
• Please make sure that the size and the location of the property are in compliance with Turkish Law. The properties located in Forbidden Military Zones cannot be registered into a foreigner's name. Purchase of properties larger than 30 acres by a foreigner is subject to the approval of the Council of Ministers.
• The lender shall obtain the security for the loan before Land Registry Officer and all parties to the sales transaction, including the vendor, purchaser and the actual owner in the case cited in point 7 of this note) and representatives of the parties need to be present. However, a power of attorney may be used to sign on your behalf for the mortgage and land deeds.
• Check with the estate agent/lawyer that you are aware of the costs charged by the authorities for purchasing a Turkish property.
• It is advisable to arrange your mortgage finance before agreeing to purchase a property.
You may ask please all questions to us about this subject. Gonenc Real Estate property for sale Marmaris Turkey.
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