Buying Property in Turkey
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Buying Property in Turkey
When purchasing property abroad, there are some simple steps which buyers should follow to ensure that the investment made is as secure as possible. Every country has its own legislation and procedures which need to be followed. In the following paragraphs we aim to give you a basic overview of the purchasing process in Turkey; however we always recommend retaining professional legal representation whenever considering an investment overseas. Foreign nationals are allowed to purchase and own real estate in Turkey with the same rights and responsibilities as a Turkish national as long as the agreement is reciprocal. The UK meets this criteria and therefore UK nationals are able to purchase property in Turkey.
USING AN AGENT
A reputable agent will have carried out extensive research into the local market and the developments available for foreign investment, therefore will be able to offer you professional, honest and independent advice regarding the best available developments in the country of your choice. The developments recommended will have passed extensive due diligence checks as our core values are to provide customer satisfaction leading to referrals and repeat business. These checks include ensuring that the developer has planning permission, is a solvent company with a good reputation. Additionally, the contacts and information network which the agent has sourced will be invaluable, especially if you are less than fluent in the local language. Additional information which the agent can provide for you includes the conditions of the local resale market, projections, local infrastructure such as schools, hospitals, etc.
MAKING AN OFFER
Having decided upon which property you are going to purchase, permission has to be requested from the Turkish Military, which will confirm that the property is not located within a “Military Forbidden Zone”. This confirmation will be processed by the Land Registry Office, the body which will eventually be responsible for registering your title deeds, officially confirming that the property is now owned by you. It is normal to prepare a preliminary contract at this stage while the process ensues. Upon signing the contract, a deposit will be paid to reserve the property in your name, as described by the contract. The contract should be signed by the buyer and the seller and recognised before a public notary.
APPOINTING A LAWYER
We strongly suggest that anyone who has decided to purchase property in any overseas country, including Turkey, should seek professional legal representation. Your representative will ensure that you are informed about your rights and also your obligations while protecting your interests. Many times, the purchase process can be different from what you are accustomed and your lawyer will inform you of these differences. Additionally, lawyers in turkey are the privileged professionals when it comes to compiling information regarding your property, such as:
- Checking the legal compliance of a property
- Check the ownership registration of the property
- Company registration records
- Financial viability of a developer
The process of purchasing a property in Turkey is completed at the Land Registry Office (TAPU Office), which will register the land in your name. Both the buyer and the seller request to transfer the ownership from the TAPU office which will proceed to ascertain the military situation of the property you are buying. If the property clears the military restriction checks, you will receive the new Title Deeds (TAPU), proving ownership of the property. After receiving the title deeds, you should apply with the local municipality in the region you purchased your property so that you can be registered as the official owner.
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