Property Buying Guide

Buying procedure for foreigners in Turkey

Buying property in Turkey is a safe and easy process. IMC will guide you from choosing your villa to receiving the title deeds.

Our buyers guide covers the following subjects:

A. The Right to Buy Freehold Property in Turkey
B. The Buying Process
C. Contract
D. Transfer of the title deed
E. The Use of Power of Attorney
F. Buying Costs

A. The Right to Buy Freehold Property in Turkey

Foreigners are allowed to buy freehold property in Turkey provided the following items apply:

1. The property has a government Title Deed (Tapu) recorded at the Land Registry.
2. The property is located within a town development (Imar or Mevzi Imar Plani) area.
3. The property is not located close to military installations.
4. The land does not belong to the forestry commission.
5. The foreigner is of a nationality with reciprocal rights to buy.

Turkish Title Deed, called a Tapu, is an absolute right of ownership. A Tapu proves that the land has been officially recorded and ownership can not be contested. Unlike many other countries foreigners are able to purchase Turkish property freehold and in their name.

All our villas for sale are within a town development area, have proper Title Deed and comply with the requirements for foreigners to buy.

Nationalities with reciprocal rights include all European nationalities. If you are unsure as to your status to purchase please check the list below:

ANDORRA, ARGENTINA, AUSTRALIA, AUSTRIA, BAHAMAS, BAHRAIN, BANGLADESH, BARBADOS, BELGIUM, BELIZE, BENIN, BOLIVIA, BOSNIA-HERZEGOVINA, BOSTWANA, BRAZIL, CAMEROON, CANADA, CAPE-VERDE, CENTRAL AFRICAN REPUBLIC, CHILE, COLOMBIA ,COSTARICA, COTED'IVOIRE, CROATIA, DENMARK, ECUADOR, ELSALVADOR, ESTONIA, FINLAND, FRANCE, GABON, GERMANY, GHANA, GREAT BRITAIN, GRENADA, GUATEMALA, GUINEA, GUYANA, HAITI, HONDURAS, HUNGARY, IRELAND, ISRAEL, ITALY, JAMAICA, JAPAN, SOUTH KOREA, , LATVIA, LIECHTENSTEIN, LITHUANIA, LUXEMBOURG, MALAWI, MALAYSIA, MALI, MALTA, MAURITANIA, MAURITIUS, MEXICO, MONACO, MONTENEGRO, MOZAMBIQUE, NETHERLANDS, NEWZEALAND, NICARAGUA, NIGERIA, NORWAY, PANAMA, PARAGUAY, PERU, PHILIPPINES, POLAND, PORTUGAL, SANMARINO, SENEGAL, SERBIA, SINGAPORE, SOMALIA, SOUTH AFRICAN REPUBLIC, SRILANKA, SPAIN, SWAZILAND, SWEDEN, SWITZERLAND, TANZANIA, THE REPUBLIC OF DOMINIC, TURKISH REPUBLIC OF NORTHERN CYPRUS, UNITED STATES OF AMERICA, URUGUAY and VENEZUELA.

B. The Buying Process

The buying process in Turkey is very similar to that in many other European countries for off plan Property. Payments being paid as your contract stipulates with the title deeds being transferred on final payment and the completion of the property. The only anomaly of the Turkish process is the requirement for a "military approval". Whilst this sounds dramatic, it is simply a process that has to be undertaken, to ensure that the buyer is purchasing a property for which they have a right to buy. The approval is granted approximately 3 months later, after which the buyer can complete. We advise that you check with us for accurate time scales for the approval process as this varies from time to time and from location to location.

C. Contract

Once a sale is agreed, a purchase contract will be drawn up for the buyer. On signature of the contract the 1st payment is requested with the remainder of the payments being staged as agreed in the contract. All payments are made direct to IMC with Receipts being sent on each payment. Contracts must be signed by buyer and seller. As a general rule, payment terms and purchase price go hand in hand with property price negotiation. You will therefore need to know the time scales you require to release or organise your finances when purchasing your villa.

D. Transfer of the Title Deed

At completion both buyer and seller must meet in person at the local land registry office for the transfer of the title deed. This process usually takes place in a day and the process needs to be witnessed by a representative and/or IMC will oversee the proceedings. Foreigner buyers are required to have an official translator present to certify the registration. In small towns such as Sapanca, the use of solicitors' escrow accounts or agents' accounts is not common place.

E. The Use of Power of Attorney

The easiest way for foreigners to buy is to give power of attorney through the Turkish Notary Public to their representative. Many forms of power of attorney are available to cover every circumstance but the general power of attorney to buy a property is most common. With power of attorney your representative can, with the buyer's authorisation, sign the purchase contract, administer bank accounts for payments and act on behalf of the buyer for the completion process and formalities. Power of attorney can be given to your representative in sole or multiple names depending on how many owners names will be recorded on the title deed. If a property is to be purchased in joint names then both buyers must be present in Turkey to give power of attorney.

F. Buying Costs

Stamp duty is payable at 3% of purchase price.

Application for the title deeds Transfer cost about £500 and an additional £500 to complete the purchase process with power of attorney. A power of attorney costs on average the equivalent of £150 pounds at the Notary. If you use a Solicitor he will charge his fees which are generally from 1% to 3% of the purchase price.

It is a requirement for completion that the property has government natural disaster (DASK) insurance. This insurance covers 20% of the rebuild cost of the building in the event of an earthquake. After the completion buyers can take out additional private insurance to increase the level of building cover for all kind of risks and to insure the contents. After completion the buyers should register the property with the local authority for payment of council and environment cleaning tax. Buyers also need to transfer the water and electric accounts with the utility companies and they levy a charge for this service. These processes can be completed by IMC with a power of attorney.

On average the total buying costs for a property with IMC work out at an additional 3.5% to 4.5% of the purchase price excluding VAT. VAT rate cahanges 1% to 18% depending to size of the property. The total buying cost will depend on whether you use a solicitor or not. Please check with us.