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BUYING
PROCEDURE
Buying
property in Turkey is a straightforward process, and considerably easier
than in other European countries. Foreigners may purchase land and
property in Turkey under their own names.
When you choose the property that you decide to buy, you have to put
down 10% of the price as a deposit. Then we send the deeds of the
property and your passport translations to Izmir Army Headquarters for
approval. It takes 2-3 months with the new laws for the papers to get
back to us. During this period, you don't have to stay in Turkey.
Normally, you sign a paper at the notary, giving our solicitor the power
of attorney to handle transactions in your name. This is to save your
time and money flying to Turkey to sign the deed-papers. (Of course you
can do it yourself if you wish, and do not mind the hassle of flying to
Turkey)
The paperwork takes less than an hour. Then the papers will be sent to
Izmir as mentioned above. When the papers come back from Izmir, we call
or e-mail you and then you send the balance of the property price, plus
the agent's commission. Then all the paperwork and procedure is finished
and the title deed of your dream home is registered under your name.
We charge 3% of the property price as our commission. The taxes and
general expenses cost £400-500 depending on the price of the property
you buy. This includes the money to be paid at the deeds office and so
on. A solicitor would cost around £400-500. 1/5000 scaled map which will
be given to the municipality costs £500.
Unlike other countries, you can sell your property and transfer the
proceeds out of Turkey.
These are standard terms offered by all Turkish estate agents.
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