Buying Procedure

 

 

Your agent should ascertain in the centre of registers (tapu dairesi) that the apartment being purchased actually belongs to the seller or that the seller is authorised to sell the apartment to other persons. At the same time it will be checked if the apartment is not pledged and has no debts or other hindrances. When buying both newly-constructed and resold real estate it is necessary to ascertain that when constructing it all the design requirements were complied with and all the construction permits were obtained. Also documents must be submitted proving that the purchased apartment is not located in a territory protected by army or other locations that can not be owned by foreigners. Usually, such inspections take about 3-4 work days. 

 

 

When the search of real property is finished, usually a security of 10-15% would be paid. The security is recorded in agreement entered in Turkish and English/Russian and signed by both parties. The agreement also specifies the price of real property and the procedure of settlement. Sales-purchase agreement must also stipulate liability of the parties in case of termination of the agreement. When the purchased object is still under construction, additionally the agreement must specify payment and work schedule, warranties, and the date when construction and installation works will be completed. 

 

Before buying a piece of real property, it s necessary to apply to a local taxation office and receive a payer’s identification number. This task can be performed by your agent as well. 

 

All the foreigners buying real property in Turkey must be checked by Turkish army. Before granting its permission to buy real estate, the Turkish army wants to be certain that the estate would be purchased by a ‘clean’ person. Most often they check if the person has not committed serious crimes or participated in terrorist attacks. Minor violations are usually ignored.

 

Moreover, they also check if the object purchased in not located in a territory protected by the army or in other location that cannot be owned by foreigners – such locations can be found in entire Turkey. They include lands close to military bases and territories with historical, economical and archaeological value, also territories protected by the state. Such an inspection takes about 12-14 weeks.

 

 

When all the permissions are received, you can calmly arrange the remaining documents. First of all, the sales-purchase agreement must be certified by a Notary Public. This can be done in the nearest Centre of Land Registers (Tapu dairesi) or in an office of Notary Public, but later the final re-registration of ownership documents will have to take place in the Centre of Land Registers (Tapu dairesi) anyway.

 

With participation of present owner of the property or his/her representative, an employee of the Centre of Land Registers (Tapu dairesi) gives the permission to reregister the property ownership documents (tapu) in the name of the new owner. Remaining amount for the real property cost must be already paid to the seller. During this procedure you need an interpreter to understand what is going on.

 

From that moment the new owner receives one copy of the property documents, the other one being kept in the Centre of Land Registers (Tapu dairesi). When additional copies of the documents are needed, they will be made by employees of the Centre of Land Registers for a small fee.

 

 

There are a few methods of settlement and transfer of money to Turkey. A suitcase full of money is the simplest one but not recommended at all. Thus the best way is to open an account in a Turkish bank before starting to settle the real property issues. Then, before the final settlement with the seller, a required amount should be transferred from Lithuanian bank account to the Turkish one. Depending on bank and service urgency, this takes 3-5 business days, sometimes longer.

 

When the sum is in your Turkish account, it must be transferred in such a way that the settlement with the seller is fully completed at the time of documents re-registration. Until this is not so, a seller usually would not sign property transfer documents. Do not forget to transfer enough money for payment of transaction fees (depending on conditions of agreement). 

 

 

If you issue a power of attorney, it will allow your agent to administer the real property issues in your absence. This is expedient not only for saving time, since in such a case it is not necessary for you to arrive to Turkey each time during a purchase. You would also save for flights and accommodation. You can authorise a relative residing in Turkey, a friend or any other person you trust. The power of attorney must be validated in office of Notary Public with your participation. 

 

 

When planning to purchase real property, do not forget to include taxes into price estimate. Property re-registration fee amounts to 3% of declared value of the real property. Usually this fee is paid by a buyer.

 

Registration fee, which depends on price, is also paid by the new owner of property, when documents are registered in his/her name. Services of a Notary Public cost from EUR 150 to 400, depending on services provided.

 

After purchasing real property, it is necessary to insure it against earthquake. This would cost about EUR 50. Do not forget standard servicing fees to be paid starting from the day of property acquisition, depending on location where your real property is located.