Knowing what lies ahead and making the appropriate preparations before any journey is half the battle won. Therefore, we outlined the procedures while buying a real estate in Turkey in this post. You may still need the help of your preferred realtor even after reading this post. However, it’s always a good idea to raise awareness in what you’re doing.
Before you select your dream home, it is best if you check construction permits and residential permits. What you should look for is to see whether they are in line with applicable laws. You can always investigate the real estate builder about the quality of their homes. Firstly, longevity and resistance to earthquakes are the most important quality aspects to check. Secondly, it is best to check whether the purchase deal includes home appliances and guarantees. Thirdly, the convenience of heating, electricity, cable and other available utilities are other things to consider.
If all these steps seem scary, we suggest you keep your calm. Your realtor will be with you all the way. Surely, your realtor will help you make property buying process as convenient as it can get. In this regard, your realtor will help you physically check the potential properties. This will give you an extra professional eye to spot any potential problems. Also keep in mind that following routine procedures is an essential part of the purchasing process. Skipping steps and using shortcuts are not wise in real estate transactions. To dig more into this topic, you can read our article: How to Buy a Property in Turkey.
Prepare a checklist
Preparing a checklist that covers most of your priorities is essential. This might be the first step toward making your property search go more smoothly. It is best if you simply prioritize your needs and wants. Therefore, you can assess the costs and advantages of your options based on your priority list. You can easily remove some property options that don’t even fit you in the first place. Later, you can further narrow down your property options with the help of a trustworthy realtor. Elimination of property options based on your checklist will save you time and money.
After your checklist is complete, please specify your target properties. Secondly, you may grade the properties you physically inspect according to your personal checklist. If you are not sure how to prepare your own checklist, don’t be scared. We offer a ready-made Real Estate Evaluation Form for your convenience. You may use our form to grade your options based on your own priorities. Before you make your final selection, use this expert technique to gain a measured opinion on available property options.
Examine all required permits
After you make your final decisions, the rest is about finishing technical aspects. At this point, make sure to avoid any violations of applicable regulations with the aid of your trusted realtor. Verifying the property construction permit and the property residential permits is the first technical step. The second step is getting a property valuation report from a registered appraiser. Finally, you can sign a notarized estate sale contract to buy your dream house. Additionally, you can appoint your power of attorney to a solicitor in case of your absence. Once you complete all these steps, you can make a wire transfer to make your payment. After all, you can register your name in the official title deed journal (Tapu Defteri). Journal registration will enable you to get your legitimate title deed of your dream house.
At this point, you must be cautious to prevent potential fraud. Therefore, you should double check whether your name is accurate on the appropriate page of the official title journal. Additionally, getting a paper copy of your title deed as evidence of ownership is essential. To avoid any fraud or scams, read our article: How Can You Avoid Fraud & Scam While Buying a Property?.
What expenses I should expect?
Legal expenses and other expenditures regarding purchasing a home can add up to 8-10 percent of the total property value:
- Legal Fees (Stamp Fee %4 + Processing Fee + Solicitor Fee)
- Other Costs (Realtor Costs + Miscellaneous Costs)
We would like to remind you that expenses may differ based on property location and buyer nationality. You can always contact us about your further specific questions.
Transactions in the Title Deed Office
Your realtor will be glad to help you on a list of checks and controls. The primary purpose here is to ensure your property is free of any encumbrances, liens, or mortgages. First, the registration page on official title deeds journal (or ledger) should not carry any liens or restrictions. You can check Title Deeds Journal easily at the time of transaction in the Title Deed Office (Tapu Kadastro Müdürlüğü).
Title deed registration page in the journal will also state the type of the estate you are buying. It can be a land, apartment, detached villa or condo, etc. You must make sure the type of the property you are buying matches with the title deed journal registry.
At this point that, it is best to remind you about 3 years no-resale restriction. If you will apply for Turkish Citizenship through real estate investment, you will not able to re-sell your property for three years. And this restriction will be inscribed in the title deed journal as a lien.
You may always ask for a professional opinion
Property management fees, delivery dates of soon-to-be-completed estates are of course other details that can easily affect your property decisions. After buying your dream house, settlement planning in your new home or renting it out comes next. Once again your trusted realtor will be glad to help you along the process.
After this article, we hope we have clarified procedures of buying a real estate in Turkey. Still, if like to learn more about these procedures please contact us. In this case, you can request a consultation session by WhatsApp, e-mail or send us a message on our website.