PROCEDURE FOR PURCHASE OF A PROPERTY

After acceptance of an offer on a property, the following procedure will be followed but you will be assisted in all:
 
Obtain several photocopies of the passport of the person(s) purchasing the property
 
Obtain 12 passport-sized photographs of each person purchasing the property (cost approx 15YTL each person)
 
Obtain a Turkish tax number for each person
 
Open a Turkish bank account(s) – these may be in Euros or Sterling.  It will be advantageous to also have an account in Turkish Lira.
 
Obtain a copy of the deeds of the property being purchased and check that the deeds are “clean”, i.e. that the property can be sold.
 
When ready to complete the purchase, go to the Notary (government regulated lawyer) to have the formal contract drawn up and for it to be signed by both the vendor and the purchaser.  Please note that, for all foreign purchasers, a translator is insisted upon by the Notary.  The Notary fee and fee for the translator are payable in cash on the day. 
 
The purchase documents will be sent to the Turkish army, which will check the identity of the purchaser through various channels and, in particular, will check there is no criminal record.
 
Instruct an English-speaking lawyer to follow up the deeds, which can take several months.  Alternatively, Okey Real Estate (Okey Property) is able to perform this service.  Fees will be explained at the time of instruction.
 
Purchase tax on the property is payable to the Turkish Government at the time of collection of the Deeds.  It is possible to authorise Okey Real Estate to collect the Deeds on the purchaser’s behalf.

TERMS AND CONDITIONS
 (Turkey Buyers Guide Purchasing Realestate for private use in Turkey)

Buying property in Turkey is not as complicated as you might imagine. The procedure is often far simpler than in most other European countries.

Foreigners may purchase land and property in Turkey under their own names provided that properties are not located close to a military airport, station etc.

After an agreed sale, in order to acquire the title of a property, an application has to be made to the local Land Registry Office. The title may be transferred once checks have been made to ensure the property meets all necessary requirements (see below).
A lawyer/solictor is not needed in Turkey although it makes sense to consult one for your own piece of mind.

Costs around £250.00.

During the transaction, the seller declares that he has recieved the full purchase price from the buyer.

This process can take a few weeks as the Land Registry office needs the official permit papers from the military administration .

A 1.5% duty both for the purchaser and seller must be paid. In addition, there is an annual property tax, collected by the local government at the rate of 0.1% for houses and 0.3% for developed lands.

New properties are exempt from 25% the annual property tax for 5 years. All properties are subject to revaluation every year for tax purposes.
The acquired property may be resold and the proceeds of the sale may be transferred out of Turkey.
There is no time restriction for reselling property after having bought, you can get it registered in your name and resell it the next day.

The buyer must pay a 3% agent's commission.
These are standard terms offered by all Turkish estate agents.