Purchasing Property in Türkiye
Process For Purchasing Property
The process for buying and selling Real Estate in Türkiye is considerably easier, faster and more reasonable than they are in many other countries. As long as the Real Estate is approved under the local or private construction regulations, it will be eligible for a Title Deed, making it able to sell, and in the event of death, buyer's immediate family will be able to inherit their property in their name. The transfer of the property is made by the Land Registry Office of the relevant district. We do legal checks on the property to ensure a legal transaction before marketing the property.
Contracts Prepare & Sign
The preparation and signing of a contract that is arranged by agreement between the seller and the buyer
Deposit Payment
According to the payment regulations in the agreement a deposit is paid to reserve the property. This is usually approx.imately 10% of purchase price
Obtain Power of Attorney
Grant Power of Attorney to us for the purchase/sale of property and the transfer of water and electric subscriptions. This Power of Attorney is limited to the period of the purchase/sale and only permits purchase/sale of the property on behalf of the buyer/seller. Alternatively, the client may wish to appoint his/her own Solicitor to preform functions usually performed free of charge by us
Application Submission
Submit application of transfer to Title Deed Registration Office
Taxes Payment
When prompted by the Title Deed Registration Office, pay property Purchase Tax as well as other relevant taxes
Application Completion
Wait for completion of the Title Deed transfer by Title Deed Registration Office
Balance Payment
Payment of balance of purchase price by buyer, or payment of balance of selling price to seller
Utilities Transfer
The transfer of electricity and water subscriptions into the buyer's name
After this easy and short process, the purchase/sale of the property will be fully completed.
Legal documents that are necessary for the Title Deed Registration Office
Required Documents from the Foreign Buyer
- Personal Information Form (if applicable): A form that is provided by Real Estate Agency that must be completed and signed both by buyer and seller for any party who is a foreign citizen
- Passport and Notary-Certified Translation: The original passport of the buyer along with its notary-approved Turkish translation
- Personal Tax Identification Number: A tax number obtained from any local tax office in Türkiye or online via the Interactive Tax Office website
- Foreign Exchange Purchase Document (Döviz Alım Belgesi - DAB): According to regulations, foreign buyers must sell their foreign currency to the Central Bank of Türkiye through a local bank before the transaction and obtain this document. The sales price stated at the land registry must match the amount specified in this document
- Biometric Photographs: 2 biometric photos taken within the last 6 months
- Sworn Translator (If applicable): If the foreign buyer does not speak Turkish, a sworn translator registered with the judicial authorities must be present during the signing stage at the land registry office
- Power of Attorney (If applicable): If the transaction is carried out via a proxy, an approved power of attorney explicitly authorizing land registry transactions, issued by a notary public or a Turkish consulate abroad.
Required Documents from the Seller and Property
- Personal Information Form (if applicable): A form that is provided by Real Estate Agency that must be completed and signed both by buyer and seller for any party who is a foreign citizen
- Title Deed (Tapu Senedi): The original title deed document of the property or its copy
- Identification Document: The original Turkish ID card (Nüfus Cüzdanı) or T.C. Identity Card of the seller
- Property Tax Statement (Rayiç Bedel Belgesi): An official document obtained from the council where the property is located, showing the current market value for tax purposes and confirming that there are no outstanding property tax debts
- Compulsory Earthquake Insurance (DASK): A valid DASK insurance policy for residential or commercial properties
- Real Estate Appraisal (Expertise) Report: A current appraisal report prepared by a CMB (SPK) licensed appraisal company and uploaded to the TAKBİS system. (Note: Depending on current circulars, this requirement might be flexible for standard sales that do not involve citizenship applications. However, it should be verified prior to the official application)
- Seller's Photograph: 1 photo of the seller taken within the last 6 months
approx.imate cost of buying a property in Türkiye
| Real Estate Agency Fees | 2% + VAT Service Fee on the actual sales price of the property to be paid by both buyer and seller |
|---|---|
| Government Property Tax | 4% on the declared value of the property to be paid to the government. This expense is usually shared by the buyer and the seller |
| Council Title Deed Service Fees | 7,000 TRY approx. |
| Notary Passport Translation & Sworn Translation Fees | 3,000 TRY approx. |
| Electricity & Water Transfers | 2,000 TRY approx. |
| Notary Granting POA and Sworn Translation Fees (if applicable) | 5,000 TRY approx. (where the client appoints us to buy the property on his behalf) |
| Solicitor Fees (if applicable) | 100,000 TRY approx. (where the client appoints a Solicitor to perform Title Deed Transfer instead of using free service provided by us) |
| Valuation Fees (if applicable) | 25,000 TRY approx. (where the property is bought in foreign currency or, for Turkish citizenship acquiring) |
| Council Valuation Report (if applicable) | 1,000 TRY approx. (where the property is bought in foreign currency or, for Turkish citizenship acquiring) |