Red
TapeIt
is a simple and straightforward process for a foreigner to buy a property in Turkey
provided the buyer employs the services of a reputable agent or lawyer.
The
Government stipulates that property purchased by a foreigner must:
a)
have a Title Deed recorded at the Land Registry
b)
be located within the permitted areas, for example a foreigner cannot purchase
property close to a military installation nor purchase property registered as
national forestry.
click here
for information on the New Law on 'Purchase of Property by Foreigners in
Turkey' (published 09 January 2006)
What
should a good agent do for you when buying property in Turkey?
A
good agent will:
help
you find the right property.
provide
you with all background information on the property including any outstanding
debts or taxes, details of original builder and previous owners.
help
you with the negotiation process, once you have found the right property, to ensure
the price is right too.
draw
up a contract, to be signed in the presence of witnesses, with all special agreements
clearly stated.
once the contract is signed and the deposit paid the agent will act on behalf of
buyers until the exchange of the title deed.
arrange
for a power of attorney if the buyer cannot be present during exchange of title
deed. Also arrange power of attorney for registration with utility suppliers.
carry out a deed office and local authority search which will provide full information
on:
a. The surrounding area giving details on building allowances and restrictions
including future plans for the construction of roads, schools, mosques, etc.
b.
Estimated purchase expenses including purchase tax, annual property tax, yearly
maintenance and details and cost of any outstanding work or repairs.
c. Existing
insurance on property and advice on any further insurance cover required.
d.
The status of the title deed, ie any outstanding debts against the property, any
conditions attached to the deed, number of owners, etc.
will
arrange payment (as per the contract) and deed exchange once the Military search
is completed.
will
register the utility supplies in the new owners name, arrange insurance cover
and register new ownership with local council for taxes and rates once the deed
exchange is completed.
arrange
for a maintenance company to look after the property on an annual contract basis.
advise
the new owner on the letting potential of the property.
If
you are considering investing in a property in Kalkan feel free to contact us
to discuss the purchase process, your personal requirements and any other general
questions you may have. Providing a professional and personal service to our clients
is our priority and our strength. Click here to contact
us or here to see our property testimonials
from past customers.