Purchasing Property in Turkey

By Editor Team Owning Property In Turkey 0 Comments

Purchasing property in Turkey

How to purchase a property in Turkey?
Where to start finding the best suitable property in Turkey?
Going ahead with a good real estate agent might be better as a foreigner who doesn’t know anything about Turkey and it’s pretty hard to understand the value of a property based on its location unless you go ahead with a good realtor.
Purchasing property in Turkey is open to almost 129 countries citizens, you can easily invest a minimum of 250,000 USD to obtain Turkish citizenship and get the same right as a Turkish
Below are some restrictions for foreign buyers
the property should not be located within a military zone or an area restricted for homeland security reasons;
the total surface area of the property should not exceed 30 hectares and 10% of the size of the region.
To perform a property purchase you need to go by the following step:

1 – Find a real estate agency, in Turkey, everyone is working in the real estate sector even in the hotels their receptions have a connection with a real estate agency but it’s always best to check the background of a company and try to find it by searching online.
2 – Visit the property check it carefully and secure its price by making a reservation, once you made your reservation some sellers gives you 5 days or a week time to pay down payment or you can cancel your sale and get your reservation back, but after making a down payment and signing a sales contract you cannot cancel the sale if you do so buyer will not return your deposit and you should also pay real estate agent fee in full amount.

3 – When you completed your payment the real estate agent or seller will get an appointment for the title deed office and they help you prepare all required documents as below ;
1 – TAX ID
2 – Title deed request forum filled and signed
3 – Your Passport translation
4 – 4 Pcs Photos
5 – Property Appraisal Report

4 – Fees. title deed registry fee and VAT,

Title Deed Registery Fee; in Turkey when purchasing property here is 0.4% title deed registry fee, usually 0.2% paid by seller and 0.2 paid by buyer but it always depends on the negotiation and agreement,
VAT only applies to brand new real estate property and for small and cheap apartments it’s usually 0.01% for expensive and commercial it’s about 0.18% but foreigners can get VAT exemption on their first purchase and We cover details on another topic.

5 – On the appointment date if you don’t know the Turkish language will need to hire a sworn translator while the title deed office transfers the title deed from the seller to your name they ask if you accept it with the following details conditions and price. You can also provide a power of attorney to the real estate agent or seller party to avoid translator cost.

6 – Once you got your title deed or Red Tapu congratulation you have your home in Turkey now, after that you will need to open your utility subscriptions probably your real estate agent will help you with that.

We have another page list of newly built residential projects in Turkey kindly take your time and visit

https://www.iqamet.com/category/residential-projects-in-turkey/

Appraisal Report In Turkey