Buying Property in Turkey
Buying a property in Turkey is a very easy process for Pro Team Estate customers, thanks to its extensive experience and knowledge in the Turkish real estate market. Buying and investing in a property abroad can be confusing. Pro Team Estate is here to guide and assist you throughout the entire process.
1. Determine Your Desires
Decide where you want to live and what your purpose is. After choosing the location you want to live in, list the main features of the real estate you want to buy. In order to find the property that best suits your demands, we need to clearly understand your wish list. After preparing a list for you, we will assign one of our consultants for the portfolios you like and we want to examine more closely, also we will arrange a viewing tour for you and answer your questions.
2. Property View Tour
Pro Team Estate appoints a consultant when our clients submit a question and request. All of our consultants are multi-lingual professionals experienced in the real estate market. The same sales representative will be with you throughout the entire purchasing process. Our consultants pick up our clients from their hotel or accommodation, show them the properties they want to see and they will answer your questions. We will never force you, we will listen to your wishes and try to find the perfect property for you.
3. Signing of the Sales Contract
When you reach an agreement to buy a property, the developer or owners of the project are invited to our office and a sales contract is drawn up according to the property details. Our sales contracts are prepared by our lawyers and additional requested items can be added if deemed appropriate.
4. Down payment
After signing the contract, the buyer will pay a prepayment (deposit) of 10-15% of the agreed purchase price to reserve the property.
Note: If you refuse to purchase after signing the contract, you may not be able to get the deposit back.
5. Legal Process and Procedures
Obtaining a Turkish Tax Number: To buy a property in Turkey, you must have a Turkish Tax Number. Our consultants will assist you in obtaining a Turkish Tax Number from the Tax Office.
Opening a Bank Account: Transferring money, tax and etc. For payments you need to open a bank account in Turkey. Your advisor will help you open a bank account in Turkey.
If you are not able to come personally for all these procedures, you can also give a power of attorney to us, your lawyer or legal representative to act on your behalf.
6. Assign Someone by Power of Attorney to Finalize the Purchase for You
Power of attorney means "This official can act for me". Your name and picture will be on the power of attorney. If the buyer wishes, he can give us a power of attorney at the Notary to subscribe to water, electricity and follow other legal procedures. The recipient and sworn translator must be at the Notary and this usually takes less than 1 hour. By giving a power of attorney, you can avoid traveling to Turkey a few times just for paperwork.
7. Payments and Money Transfer
As of January 24, 2022, all foreign real estate buyers must convert their foreign currency into Turkish Lira. Regardless of whether there is a purchase or sale transaction, it is obligatory to obtain a Foreign Exchange Certificate (Currency Purchase Certificate) in all real estate transactions made by foreign buyers. Our consultants will share detailed information about this issue with you.
8. Getting the Title Deed
The last step in completing your real estate purchase in Turkey is to get your title deed. A title deed is an official document issued by the Land Registry that shows your ownership of the property. It is the most important document as it is proof of ownership of the property. For the transfer of title, the remaining amount of the property, all taxes and legal fees must be paid. After all the procedures are completed and you sign the deed at the Land Registry Office, you become the owner of the property.
PRO TEAM ESTATE APPLY
Still have questions about buying a property?
Contact us to speak with a professional consultant!
