Buying a Property in Turkey
An Estate Agent's job is to help you through the purchase process in a clear and stress-free manner.
1. They will take you to view any properties that you choose and to explain about overseas ownership.
2. Once you have made your choice they will arrange a meeting for you with a Solicitor together with the seller (or seller's agent), a Legal Translator and a representative of your choice (usually the Estate Agent or representative)
At this meeting the Solicitor will undertake to check that the seller is the legal owner of the property and that the Title Deeds are in order with no outstanding charges or claims against the property.
The Solicitor will ensure that all terms and conditions are clearly understood by all parties, this will cover what is and is not included in the sale and in the case of a property under construction, the proposed completion date and any penalty clauses that will be imposed if this date is not met. Everything will be verbally translated at the meeting and any subsequent documentation will also be issued in the translated form. All parties involved with the transaction, buyer, seller, Solicitor and Legal Translator, will be signatories to the sales agreement.
3. At this meeting the agreed deposit and legal fees will be paid, together with the translation fees. Receipts will be issued.
4. The Solicitor will implement the forwarding of all relevant documents in order to have the Title Deeds transferred from the name of the seller to your name / names. Obtaining the Title Deeds can take between 3-6 months (sometimes longer).
5. When the Title Deeds are ready, they will need to be signed for by the buyer and seller. As you may not be in Turkey at that time and may not wish to make a special journey for that purpose, you can grant Power of Attorney to the Solicitor to act on your behalf. This would entail a visit to the Notary with the Legal Translator. Please be reassured that Power of Attorney does not give any other individual a claim on your property, the Title Deeds will clearly be in your name only together with your photograph.
6. Staged payments will be agreed for the purchase and any penalty clauses explained should either party default. The final payment will usually be paid on completion and receipt of the Title Deeds. Receipts will be issued for all payments made.
7. Payments for the connection of water and electricity services will coincide with the final payment to the seller. The Title Deeds will also be registered for local Property Tax.
8. If you have chosen to grant Power of Attorney, a copy of your Title Deeds will be posted, faxed or e-mailed to you for your records and the original will be held by The Estate Agent until your next visit to Turkey.