BUYING A PROPERTY IN KALKAN TURKEY

Purchasing your property in Kalkan Turkey is less complicated than in the United Kingdom and the estate agent takes a more active roll, in fact generally managing the process, which usually takes between 6 to 8 weeks.

It is of course advisable to check out the agent and or discuss the matter with a local solicitor “ advocate” another thing to consider is talking to other villa owners that have been through the process and maybe ask them who they used for their purchase.

It is possible now for non residents to purchase most types of property in Turkey in their own names and when the time comes to sell, the proceeds of the sale may be transferred out of Turkey and in some cases providing it fits in with a timescale set by the government profits may be “free” from capital gains.

Before buying or selling a property, it is advisable to check out to see if there have been any changes to the process, we are generally up to date with the changes and can advise or at least guide you to someone who does.

Agent’s commissions and title-deed expenditures are normally added to the conveyance.

When you express an interest in buying a property, an agreement is prepared setting out the terms and conditions of the purchase. A duly signed copy of that agreement and a copy of the title deed of the property are given to you.

At this stage, you will be required to give a copy of your passport and two photographs.

Then you make a payment according to the payment schedule clearly defined in the agreement. It is advisable to agree that payments are returned if there are problems with the property or maybe debts that you could be responsible for, such as local services etc.

A letter is then prepared with a copy of the legal papers, together with the copy of your passport and they are then sent to the Army Headquarters in I.zmir for clearance.

This is generally the time consuming part of the process approx 6 to 8 weeks. The checks are made to ensure that the land you are buying does not fall within any Military zone. Character checks are also made.

When all the checks have been conducted and the papers returned it is time to sign the Contract and undertake the money transfer. It is also useful at this time to check that all utilities are paid up to date, as you may be responsible when you are the new owner.

It is advisable to open a bank account with a Turkish or HSBC bank (to enable you to transfer the remaining monies).

On the day of transfer, the Buyer, Seller and Estate Agent will go to the Title Deeds Office and complete the paperwork. The paperwork consists of all the legal issues (title deeds, land registry etc) and financial issues. Financial affairs are concluded, signatures exchanged and the title deeds of your property are registered in your name.

After you have purchased the property you will need to visit various department offices to get the utilities changed to your name.

Please note:

The above, which is only a guide to a process that can be changed by the government at any time, please do not rely on the above entirely as we take no responsibility for anyone simply relying on our brief notes as there could be omissions or additions to the process, as we have stated you should research all aspects before a purchase and take professional advice at all times.

http://www.turkisheconomy.org.uk/buying_property.html

Please do not hesitate to call or send us e-mail and it will be a pleasure to assist in finding a property.

Red Tape

It is a simple and straightforward process for a foreigner to buy a property in Turkey provided the buyer employs the services of a reputable agent or lawyer.

The Government stipulates that property purchased by a foreigner must:

a) have a Title Deed recorded at the Land Registry

b) be located within the permitted areas, for example a foreigner cannot purchase property close to a military installation nor purchase property registered as national forestry. for information on the New Law on 'Purchase of Property by Foreigners in Turkey' (published 09 January 2006)

What should a good agent do for you when buying property in Turkey?

A good agent will:

1. Help you find the right property.
2. provide you with all background information on the property including any outstanding debts or taxes, details of original builder and previous owners.
3. Help you with the negotiation process, once you have found the right property, to ensure the price is right too.
4. draw up a contract, to be signed in the presence of witnesses, with all special agreements clearly stated.
5. once the contract is signed and the deposit paid the agent will act on behalf of buyers until the exchange of the title deed.
6. arrange for a power of attorney if the buyer cannot be present during exchange of title deed. Also arrange power of attorney for registration with utility suppliers.
7. Carry out a deed office and local authority search which will provide full information on:
a. The surrounding area giving details on building allowances and restrictions including future plans for the construction of roads, schools, mosques, etc.
b. Estimated purchase expenses including purchase tax, annual property tax, yearly maintenance and details and cost of any outstanding work or repairs.
c. Existing insurance on property and advice on any further insurance cover required.
d. The status of the title deed, ie any outstanding debts against the property, any conditions attached to the deed, number of owners, etc.
8. Will arrange payment (as per the contract) and deed exchange once the Military search is completed.
9. Will register the utility supplies in the new owners name, arrange insurance cover and register new ownership with local council for taxes and rates once the deed exchange is completed.
10. Arrange for a maintenance company to look after the property on an annual contract basis.
11. Advise the new owner on the letting potential of the property.

See a list of properties for sale in kalkan