|
Buying a property in Turkey is a
lot easier than in many other European countires.
Forigners may purchase land and property in Turkey
in their own names provided that properties are
located in towns (i.e. there must be municipality in
the area where the property is located and the
property must be situated with in the boundaries of
municipality or borough), not in villages or rural
areas and outside of military zones.
In order acquire the little of property, an
applicatiomn hjas to be submitted to the local land
registry office in which the property is situated.
After be carrying out necessary searches and checks
for the above mentioned requirements, the transfer
of the little is done by the Land registry office .
In Turkey, it is legally compulsary for both sides
(the seller and the buyer) to be present at the
entry in the property register. During the
transaction, the proofs or the documants concerning
the transfer of the full purchase price into Turkey
must be presented to Land Registry Office. A
purchase tax of 3% is collected from the purchaser
during the transaction.
An annual property tax is
collected by the municipalities (i.e. local
goverments)
At the rate of 0.3% for land and 0.1% for a house in
the Fethiye area. In the big cities these figures
are double. All properties are subject to
revaluation every year for tax purposes. On newly
built, within 3 months of constraction finishing,
the buyer must complete an affidavit and submit it
to the municipality for these tax purposes. Dream
Time Homes is happy to guide customers through this
process for the first time.
The acqired property may be resold or rent out and
the proceeds may be transfered out of Turkey.
* We will draw up a contract with the buyer
detailing the agreedterms and conditions of the
purchase. Alegal translator will be present at all
to represent the buyer.
* The legal translator than takes the buyer`s
passport(s) to the notary for translation. This is
necessary for the security and property location
checks mentioned above. The translation takes a
maximum of half an hour, after which the passport(s)
will be returned to buyer.
* Dream Time Homes and the buyer will then take the
contract to local solicitor. The solicitor will
check a copy of the property deed to ensure that the
information on the contract corresponds with the
information on the deed. Then all parties will sign
the contract witnessed by the solicitor, the legal
translator and one other witness.
* Once the application has been approved by the land
registry office This is for the security and
property location checks to be made and approved.
Dream Time Homes will sign over the deed of the
property to the buyer (assuming all outstanding
payments have been recived). İt is at the point of
deed transfer that the purchase tax will be paid. |