Turkey

Dear Sir/Madam, Because of receiving huge number of inquiries each day which regards to the procedures and costs associated with properties in Turkey, we would like to explain the problem below.

Purchase of apartments and locals


PROCEDURES

Buying procedure:

Procedures and costs - purchase of apartments and locals - TurkeyConditions of sale and purchase apartments in Turkey looks a bit different than in Poland. Purchase is made by sell-purchase agreement. All necessary documents are sending to the Military Office in Izmir and Interior Ministry in Ankara. These offices are returning checked documents with proof of acquiring the ownership so called Tapu in term of 12 to 16 weeks. Parties of sale-purchase contract come together to the Land and Buildings Registration Office, they are signing conformity will statement about transfer the property ownership (synonymous with a transferring ownership contract). Buyer received earlier mentioned Tapu and pay the amount due of contacted total sale price to the seller.

There are two variants of purchasing:

  1. First variant is to buy an apartment during the investment departure – a visit Turkey.
  2. Second option is to buy property without necessity of visiting Turkey. We are always encourage to use the first variant, it provides a personal knowledge of terrain, surrounding area and immediate neighborhood, what is very helpful in making this type of decisions.

We would to emphasize that ILS Poland Group is a licensed broker (who has liability insurance) and co-founder of the Polish Chamber of Real Estate – PIN. We care about the best buyer interest in every purchase option. There are three possibilities of signing the contract which has to carry about client interests: in Poland, in Portugal and Madeira Island or by correspondence.
In both variants, buying property is associated with several basic steps.

That process is completely carried out by the ILS Poland Group and looks as follows:

  1. Signing a contract or
  2. Organization the investment trip, including both ways flight and hotel reservation
  3. If the apartment will be booked by customer the pickup from airport and transfer to the hotel is free, in other cases for 60 USD returned in case of purchase
  4. Presentation of alternative properties according to customer specifies criteria and indication of current developers offers
  5. We negotiate the offer price with the seller on client request. Negotiations are most effective when the payment is a one-time or if you are buying at least 2 apartments
  6. Completing all necessary documents (client need to have a copy of passport and 4 photos) needed to perform the transaction. If you are interested in opening a bank account in Turkey, you will need also second document with an address (eg. ID card). Own account often turns to be useful to make payments personally in Turkey or if you decide to authorize broker to receive Tapu (popular practice).
  7. Preparing and signing preliminary agreement in turkish-polish language. As in polish law it is a legally binding document containing key information about the transaction terms: property description, price, payment method including the first tranche amount, terms of following payments and the amount of any penalty fees for delays in the project realization or payments. Generally the value is repaid in 2-3 installments with the last payment at transferring Tapu to the property. Particular terms of payment are determined by contract parties in each time and it could be different for the offered projects
  8. Deposit payment (in case of purchase from developer 10 to 25% of the apartment value, in case of secondary market 25-35%)
  9. After signing contract and deposit payment giving the keys to the apartment and prepare transfer-acceptance memorandum.
  10. During the transaction finalization all necessary documents are sending to the Military Office in Izmir and Interior Ministry in Ankara. These offices are returning checked documents with proof of acquiring the ownership so called Tapu (title to the property ownership) in term of 12 to 16 weeks. IMPORTANT: While waiting for Tapu you can wield the acquired property like the owner, live in it or take advantage from summer rental for tourists.
  11. After that the parties of sale-purchase contract come together to the Land and Buildings Registration Office, they are signing conformity will statement about transfer the property ownership (synonymous with a transferring ownership contract). Buyer received earlier mentioned Tapu and pay the amount due of contacted total sale price to the seller.

ATTENTION
If you wish to use the second variant, the purchase without flying to Turkey, you can ask for receive Tapu to the representative (eg. our firm which mediates in the transaction). To do this you should give a notarial authority at first visit (very common solution). Then you can receive your documents at any time or our company will send them to you by courier. The amount should be transferred to your own turkish account, at the same time authorizing the representative to receive the amount in order to transfer payment to the seller.

COSTS

Purchase costs:

To any real estate purchase, in this case an apartment in Portugal or Madeira Island, except offer price should be added:
Costs of ownership transfer agreement, notary fee and tax on civil law which is 3,3% calculated from "government property valuation for tax purposes" (often much lower than the contract price)
Costs of flight in both directions and stay in any hotel/apartment (it is a optional cost because we are also supporting complex transactions without flight). In case of purchase the primary market property this cost will be repaid after signing preliminary contract. Specific terms of promotion with hotels/apartments offers are available on client request.

Permanent costs:

In the territory of the Turkey Republic flats are acres, but in complexes with facilities (swimming pools, gardens, spa, reception, security) all owners and buyers flats/apartments are obligated to pay "administration fee" which depends on the type of facilities and apartment size. It usually oscilates between 400-700 EUR per year.

Components of permanent costs:

To take full illustrate, the above costs we are giving an example of intimate apartment. We assume that the cost of year-round maintaining for this apartment will be 500EUR per year.

This fee (rent) forms a cost of managing complex and includes the maintenance of common areas in that:

  • front desk,
  • clock protection,
  • swimming pools cleaning,
  • mowing lawns,
  • free protected parking for apartments owners,
  • lifts conservation,
  • renovation fund,
  • saunas keeping,
  • gym, fitness and much more, etc.
  • property tax,
  • proportional flat fee for media (electricity and water).

Costs of complex ILS Poland Group service:

ILS POLAND GROUP provides comprehensive service and conducting every transaction (from own offers bank or from sources indicated by the customer). During the purchase of apartments the broker salary is covered by developer so the buyer is exempt from paying commission!
It is worth to mention that in some cases, when the apartments are more expensive some developers are also covering travel and accommodation costs.

*Any commission for brokering activities including comprehensive service and carry out of transaction can be determined only when you buy the smallest and cheapest apartments in the promotional ILS terms, only when the seller is an individual or developer who does not pay remuneration. ILS salary is set individually basing on the property price. The client is informed about this before taking decision.

In case of purchase the secondary market property the fee is 3% of the property sale price + tax. This amount is the remuneration for service of implementation agency agreement, including individual arrangements between agency and client:

  • organization the flight to Turkey
  • organization the accommodation in Alanya
  • transfer airport-hotel-airport
  • organization the site inspection at the indicated properties
  • representation the buyer in negotiations with the seller
  • check the legal status of the property
  • check whether property is not in area where foreigners can not buy properties
  • preparing necessary proposals, to the Land and Buildings Registration Department and Military Office
  • direct translation into polish during the whole investment process
  • assistance in registering with the Tax Office
  • assistance in opening bank account
  • preparing the major findings of the sale-purchase contract
  • preparing calculation of costs associated with transaction
  • preparing schedule of payments
  • receiving Tapu (basing on notarial authority)
  • giving Tapu to buyer – the new owner
  • assistance in registering electricity and water counters
  • assistance to install the internet
  • assistance in organizing house equipment
  • assistance with insurance purchased property

ATENTION: ILS POLAND GROUP provides comprehensive after-sale service including assinstance the immense renovations of houses and during apartments are to be furnished and equipped, basing on individual agreements or separate contracts.

Additional and useful links:

  1. Embassy: >>https://www.gov.uk/government/world/organisations/british-embassy-ankara 
  2. Wikipedia: >>https://en.wikipedia.org/wiki/Turkey
  3. Search for real estates in Turkey for sale: >>https://en.ilspoland.com/real-estates/turkey
  4. Search for apartments in Turkey for sale: >>https://en.ilspoland.com/real-estates/turkey/apartments/sale


Purchase of houses and plots


PROCEDURES

Buying procedure:

Procedures and costs - purchase of houses and plots - TurkeyConditions of sale and purchase land properties (plots) unbuilt or built eg. house  in Turkey looks a bit different as in Poland. Purchase is made by sell-purchase agreement. All necessary documents are being send to the Military Office in Izmir and Interior Ministry in Ankara. These offices are returning checked documents with proof of acquiring the ownership so called Tapu in term of 12 to 16 weeks. Parties of sale-purchase contract come together to the Land and Buildings Registration Office, they are signing conformity will statement about transfer the property ownership (synonymous with a transferring ownership contract). Buyer received earlier mentioned Tapu and pay the amount due of contacted total sale price to the seller.

Process of purchasing houses and plots is similar to purchasing apartments, there are two variants:

  1. First variant is to buy house with plot or same land during the investment departure – a visit to Turkey.
  2. Second option is to buy property without necessity of visiting Turkey. We are always encourage to use the first variant, it provides a personal knowledge of terrain, surrounding area and immediate neighborhood, what is very helpful in making this type decisions.

We would to emphasize that ILS Poland Group is a licensed broker (who has liability insurance) and co-founder of the Polish Chamber of Real Estate – PIN. We care about the best buyer interest in every purchase option. There are three possibilities of signing the contract which has to carry about client interests: in Poland, in Portugal and Madeira Island or by correspondence.

In both variants, buying property is associated with several basic steps.

That process is completely carried out by the ILS Poland Group and looks as follows:

  1. Signing a contract or
  2. Organization the investment trip, including both ways flight and hotel reservation
  3. If the apartment will be booked by customer the pickup from airport and transfer to the hotel free, in other cases for 60 USD returned in case of purchase
  4. Presentation of alternative properties according to customer specifies criteria with possibility of presentation chosen properties by client during visiting region.
  5. We negotiate the offer price with the seller on client request. Negotiations are most effective when the payment is a one-time or if you are buying at least 2 apartments
  6. Completing all necessary documents (client need to have a copy of passport and 4 photos) needed to perform the transaction. If you are interested in opening bank account in Turkey, you will need also second document with an address (eg. ID card). Own account often turns to be useful to make payments personally in Turkey or if you decide to authorize broker to receive Tapu (often used practice).
  7. Preparing and signing preliminary agreement in turkish-polish language. As in polish law it is a legally binding document containing key information about the transaction terms: property description, price, payment method including the first tranche amount, terms of following payments and the amount of any penalty fees for delays in the project realization or payments. Generally the value is repaid in 2-3 installments with the last payment at transferring Tapu to the property. Particular terms of payment are determined by contract parties in each time and it could be different for the offered projects
  8. Deposit payment (in case of purchase from developer 10 to 25% of the apartment value, in case of secondary market 25-35%)
  9. After signing contract and deposit payment giving the keys to the apartment and prepare transfer-acceptance memorandum.
  10. During the transaction finalization all necessary documents are send to the Military Office in Izmir and Interior Ministry in Ankara. These offices return checked documents with proof of acquiring the ownership so called Tapu (title to the property ownership) in term of 12 to 16 weeks. IMPORTANT: While waiting for Tapu you can wield the acquired property like the owner, live in it or take advantage from summer rental for tourists.
  11. Next the parties of sale-purchase contract come together to the Land and Buildings Registration Office, they are signing conformity will statement about transfer the property ownership (synonymous with a transferring ownership contract). Buyer received earlier mentioned Tapu and pay the amount due of contacted total sale price to the seller.

ATTENTION
If you wish to use the second variant, the purchase without flying to Turkey, you can ask for receive Tapu to the representative (eg. our firm which mediates in the transaction). To do this you should give a notarial authority at first visit (very commonly practiced solution). Then you can receive your documents at any time or our company will send them to you by courier. The amount should be transferred to your own turkish account, at the same time authorizing the representative to receive the amount in order to transfer payment to the seller.

COSTS

Purchase costs:

To any real estate purchase, in this case plots or houses in Portugal or Madeira Island, except offer price should be added:

  1. Costs of ownership transfer agreement, notary fee and tax on civil law which is 3,3% calculated from "government property valuation for tax purposes" (often much lower than contract price)
  2. Costs of flight in both directions and stay in any hotel/apartment (it is a optional cost because we are also supporting complex transactions without flight). In case of purchase the primary market property this cost will be repaid after signing preliminary contract. Specific terms of promotion with hotels/apartments offer are available on client request. 

Permanent costs:

In the territory of the Turkey Republic houses are acres, but in complexes with facilities (swimming pools, gardens, spa, reception, security) all owners and buyers of houses are obligated to pay "administration fee" which depends on the type of facilities and apartment size. It usually oscilates between 400-700 EUR per year.

Components of permanent costs:

To take full illustrate of the above costs we are giving an example of intimate house in closed settlement with facilities. We assume that the cost of year-round maintaining for this apartment will be 500EUR per year.

This fee (rent) forms a cost of managing complex and includes the maintenance of common areas in that:

  • front desk
  • clock protection
  • swimming pools cleaning
  • gardens maintaining
  • saunas keeping
  • gym, fitness and much more etc.

Costs of complex Ils Group service:

ILS POLAND GROUP provides comprehensive service and conducting every transaction (from own offers bank or from sources indicated by the customer). During the purchase of apartments the broker salary is covered by developer so the buyer is exempt from paying commission!
It is worth to mention that in some cases, when the apartments are more expensive some developers are also covering travel and accommodation costs.

*Any commission for brokering activities including comprehensive service and carry out of transaction can be determined only when you buy the smallest and cheapest apartments in the promotional ILS Poland terms, only when the seller is an individual or developer who does not pay remuneration. ILS Poland salary is set individually basing on the property price. The client is informed about this before making a decision.

In case of purchase the secondary market property the fee is 3% of the property sale price + tax.

This amount is the remuneration for service of implementation agency agreement, including individual arrangements between agency and client:

  • organization the flight to Turkey
  • organization the accommodation in Alanya
  • transfer airport-hotel-airport
  • organization the site inspection at the indicated properties
  • representation the buyer in negotiations with the seller
  • check the legal status of the property
  • check whether property is not in area where foreigners can not buy properties
  • preparing necessary proposals, to the Land and Buildings Registration Department and Military Office
  • direct translation into polish during the whole investment process
  • assistance in registering with the Tax Office
  • assistance in opening bank account
  • preparing the major findings of the sale-purchase contract
  • preparing calculation of costs associated with transaction
  • preparing schedule of payments
  • receiving Tapu (basing on notarial authority)
  • giving Tapu to buyer – the new owner
  • assistance in registering electricity and water counters
  • assistance to install the internet
  • assistance in organizing house equipment
  • assistance with insurance purchased property

ATENTION 

ILS POLAND GROUP provides comprehensive after-sale service including assinstance the immense renovations of houses and during apartments are to be furnished and equipped, basing on individual agreements or separate contracts.

Additional and useful links:

  1. Embassy: >>https://www.gov.uk/government/world/organisations/british-embassy-ankara 
  2. Wikipedia: >>https://en.wikipedia.org/wiki/Turkey
  3. Search for real estates in Turkey for sale: >>https://en.ilspoland.com/real-estates/turkey
  4. Search for houses in Turkey for sale: >>https://en.ilspoland.com/real-estates/turkey/houses/sale

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