Buying Land and Property in Turkey

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 Registryb) 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:

  1. help you find the right property.
  2. provide you with all background information on the property including any outstanding debts or taxes, details of original builder and previous owners.
  3. help you with the negotiation process, once you have found the right property, to ensure the price is right too.
  4. draw up a contract, to be signed in the presence of witnesses, with all special agreements clearly stated.
  5. once the contract is signed and the deposit paid the agent will act on behalf of buyers until the exchange of the title deed.
  6. 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.
  7. 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.
  8. will arrange payment (as per the contract) and deed exchange once the Military search is completed.
  9. 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.
  10. arrange for a maintenance company to look after the property on an annual contract basis.
  11. 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.