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Buying

Buying






Buying

At Fethiye Homes 4 U  I am here to help you with the full process of buying your dream property here in Turkey. The buying procedure can be quite daunting if it is new to you as it differs from processes in the UK and is in a foreign language!

I am extremely experienced with the Turkish property purchasing and selling system and have worked within this field for over 10 years. I also speak fluent English,German so can support with conversations and the documentation required. Ultimately, I am here to help you every step of the way.

The process of buying a property in Turkey can be quite easy if you are familiar with it, turnaround times for completion can be as quick as one week!

The first steps to buying your property is deciding on the location and the type of property you are looking for, whether its a holiday home or a rental investment these are key questions to help you make the right choice. Another important consideration is your budget as you need to take into account the extra fees on top for purchasing a property in the total purchase amount – but please don’t worry, I can help with all of this.

I will guide you through the properties I think are best suited to your needs, and book appointments to view the properties with you.  Once you have chosen your property to purchase the first step is to make an offer to the seller and agree on a price, please note, similar to the UK, the opportunity of negotiations for up to 10% exists and I will do my best to guide you on this ensuring a fair outcome for all. 

When the purchase is agreed a contract with terms and conditions will be drawn up between the Seller, the Buyer and the agent Fethiye Homes 4 U. The contract will state payment plans and completion dates and what the property will include in the agreed sale price.

The legal side of purchasing a property needs to be completed with me your agent, you will agree to give me Power Of Attorney to purchase the property on your behalf. This is done with an official translator( I at Ozgur Arslan ) at the Public Notary Office in Fethiye. If you prefer you can instruct a local solicitor to do this for you.

Please note a fully licensed estate agent is legally able to complete this procedure with you, it’s personal choice at an extra cost to you to employ the services of a solicitor if preferred.

A holding deposit must be paid to secure the property and Fethiye Homes 4 U will remove the property from the market.

The agent will accompany you to the tax office to obtain a Turkish tax number and will go to the bank to assist you with opening a bank account for the transaction of the sale funds.

In Turkey, both parties (or their Power of Attorney) must be present at the Land Registry Office to complete the sale and the deed transfer. I will be there as your agent, plus a translator (if necessary), to guide you through the process. All remaining funds will be paid, as well as all relevant taxes and charges before the final signature is made.

 

The Costs For Purchasing A Property 

 

  • The property sale price.

 

Power of Attorney fees are approxiamtly £300.00.

 

  • As a guide,solicitor fees usually start at around £800 – £1000 (if required)

 

  • My Agency commission is 3% of the agreed purchase price.

Included in this I will do all the paper work, searches and necessary applications to have the Deed transferred to the new owner.I will check that the property has no outstanding debts against the property or any outstandıng utility bills.

 

  • A One off Purchase Tax of 4 % is to be paid to the Turkish Goverment.

This figure is caculated on the given valuation of the property from the local council and from the surveyor valuation, sometimes the prices can differ from the actual purchase price.

Thereafter an annual property tax similar to the UK’s Council Tax is payable to the Turkish Government. This figure is calculated from the value of the property as shown on the Tapu (deed). The purchase tax is a ‘one off’ payment. Annual council tax is approxiamtely 0.02% of the propertys value price.

 

  • DASK -  Earthquake insurance up to £50.00 depending on the size of the property.

In Turkey this is compulsory and paid on an annual basis.

 

  • New Tapu (deed) registration £150.00 (please note this can change based on lira exchange rates)

 

  • Once you own the property, I, as your agent will help you arrange for the utilities to be transferred into your name. Both water and electric are subject to a minimal, one-off, transfer fee.

 

  • Please note, the prices above are correct at the time of writing and can vary due to exchange rates at the time of the agreed sale.

 

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