The following information is correct to the best of our knowledge but is intended as a guide only, we cannot be held responsible for any errors or omissions. Please be aware that some of the procedures detailed below may change and that the fees quoted are approximate. We recommend you seek professional legal advice prior to a property purchase.

We are happy to assist and advise our customers throughout the purchase process.
 
Foreigners are able to buy real estate in Turkey in accordance with the ‘reciprocity principle’ which allows a foreign national to purchase property in Turkey if the same rights of property purchase apply to Turkish citizens in the foreign national’s home country. Foreign nationals who purchase real estate in Turkey have the same property-ownership rights as Turkish citizens.

Solicitors: You are advised to appoint a solicitor to protect your interests although this is not compulsory. Contact details for local independent English speaking solicitors can be obtained from www.britishembassy.gov.uk. If you decide to appoint a solicitor to oversee the buying procedure you can award them Power of Attorney (see below). The solicitor will check the property’s title deeds, ensure that the person selling the property actually owns it, check all building licenses and planning permissions are in order (where applicable) and establish whether there are any outstanding debts on the property.

Surveys:  Although not required by law it may be advisable to have the property you intend to purchase surveyed prior to signing the sales agreement.

Contract / Sales Agreement: A contract detailing the conditions of the real estate purchase should be prepared although this is not required by law. If the contract has been drawn up in Turkish you are strongly advised to have the document translated, either verbally or in writing, by an Official (Sworn) Translator before signing. We recommend you consult a reputable solicitor to advise you and make certain that the terms and conditions of the contract are legal and fair.

Deposit: When you have made the decision to purchase a property a deposit of approximately 5-10% of the purchase price is usually required to secure the property and ensure it is withdrawn from the market. The agent’s 3% commission fee and legal fees will also be exchanged at this stage.
Please note that the deposit and fees are non-refundable.

Power of Attorney (P.O.A): You may decide to provide P.O.A to your solicitor or estate agent prior to your return home. This document should be prepared by a Public Notary; it awards legal authority to your appointed representative enabling them to act on your behalf in your absence. You should also have a notarised copy of your passport prepared at this time.

Bank Account:  You should open a bank account with a Turkish bank into which outstanding monies to be paid can be transferred at a later date.

Application for Military Clearance *: Title deeds cannot be registered in the name of a foreign national prior to military approval. Application for the transfer of the title deed into the buyer’s name is made to the local TAPU Office by your estate agent or solicitor. The Title Deeds Office will then prepare and send a number of documents to the military authorities. These include maps from the local Lands Registry Office and council showing the property’s location and a notarised copy of the buyer’s passport. A military check is then carried out to ensure the property to be purchased is outside any military/national security zone. Once this has been established transfer of the deed is authorised. Your lawyer (if applicable) or estate agent will inform you when military approval has been given.

Transfer of the Title Deed: At this stage the buyer will be expected to pay the balance due on the purchase price, buyer’s tax and purchase earthquake insurance for the property. The buyer (or their legal representative) and seller will meet at the local TAPU office, the fees will be paid and the deeds will be transferred into the buyer’s name.

Utilities: Water and electric should be registered in the new owner’s name. A connection fee may have to be paid if the property is a ‘new build’ or these utilities have not been used recently by the previous owner.

*Please note that application for military clearance can be a lengthy procedure which may take between 3-6   months.

Costs

Solicitor’s fees: vary depending on the solicitor chosen (approx £300-£1500).

Estate Agent’s fees: 3% of the purchase price.

Power of Attorney (if required): notary costs of approximately £150 pounds for the document and £30 pounds for the Official Translator.

Stamp Duty: to be paid at the notary (if the purchase agreement contains a monetary clause).

Local Council Map Fee:  this costs approximately 2,200 YTL (£900) for properties in Bodrum and 2,000 YTL (£800) for properties in other areas of the Bodrum peninsula. This map shows the location of the property and is required for military approval.

Buyer’s Tax: 1.5% of the declared purchase amount on the property’s title deed is to be paid by the seller and the same amount by the buyer (paid when the title deeds are approved by the military and can be transferred into your name).

Property Tax: which amounts to approximately 0.5 – 0.7% of the property’s price (depending on the property’s size and location) is paid annually.

Earthquake Insurance: compulsory and to be renewed annually, the cost is calculated according to the property’s declared value, size and location (approximately £40- £100).

Water and electricity connection fee (if applicable): approximately £200-300 pounds depending on the property’s location.

Please also note that if the property purchased is on a complex there will also be a monthly maintenance charge. This charge varies according to the individual complexes but usually amounts to between £350-750 per annum.