How to buy property in Turkey
A step-by-step guide allowing foreign nationals buying property in Turkey to do so as smoothly and safely as possible.
Buying a home overseas may not be as straightforward as buying in your home country. The main reasons people sometimes think buying overseas property is risky are:
- The fear of being defrauded and losing money as well as precious time. We have all heard about the Spanish land-grab issues;
- Differences in applicable laws and legal systems governing real estate transactions;
- Actual and/or perceived weaknesses in the legislation governing foreign nationals buying property in the target country;
- Language barriers, particularly legal jargon, which unfortunately exists in all countries;
- The feeling of 'lack of direct control' over the process, which arises due to you not being based in the country you are purchasing in.
At Property Turkey, we fully understand and appreciate these concerns. We have therefore put in place solid guidelines and recommendations in order to help you buy property in Turkey in the safest and smoothest way possible. Close analysis of the best practices as well as a great deal of experience means we're well placed to advise you how to minimise and eliminate risks.
Please follow our 11 step guide to buying a home in Turkey to ensure that your dream home in the sun becomes a peaceful and rewarding reality.
11 Steps to buying property in Turkey prepared by Property Turkey
Step 1 - Do your research
The Turkish property market is growing day by day. There are thousands of properties for sale in Turkey and hundreds of real estate agents. Each agent will tell you different things and give different advice. We believe that our strong point is our longevity in the market, our knowledge of Turkey and experience in dealing with more than 2000 property transactions. We advise that you conduct your own thorough research into which region in Turkey best suits your needs, budget, and expected lifestyle. We will also provide you with diligent and frank information on all regions of Turkey – from Fethiye, Bodrum, Antalya, Kalkan to Istanbul and others. We shall also refer you to best sources for legal and technical matters involved in buying in Turkey.
Step 2 - Compare agents
When looking for a home in Turkey, we advise you to check testimonials of different websites and compare different property agents. If they have been around for a long time, chances are they are solid and credible agents. Make sure they understand you and your requirements. If you ever get the feeling they are reading off a memorised sales-pitch (and there are many of them around), then chances are they are. Move away. They are not the right agents for you.
Buying an overseas property is for most people more of a lifestyle choice than just bricks and mortar, so the agent you are dealing with ought to understand and appreciate the lifestyle you are seeking to attain. If they can't, then they will not have much chance of guiding you toward the right area and type of investment. Remember, Turkey is a huge country, larger than France, and four times the size of the UK, so there are big differences from region to region in terms of climate, culture and landscape. Only a knowledgeable and empathetic agent will be able to consult you in the right direction.
Step 3 - Talk to your property agent and build a good rapport
Some of us are shy of picking up the phone and talking to property agents. We do not like being "sold to" and we try to avoid putting ourselves in circumstances where we might be confronted by a pushy salesperson. However, if you can't talk openly and at length with your agent, then your agent will not be able to understand your needs and preferences. Without fully understanding your requirements your agent will find it difficult to source the right property for you. So, once you feel you have found a genuine agent (possibly having gone through several), who is able to assist, then invest your time in talking to them at some length. Get to know them and let them get to know you. This is key to establishing a rapport which will in turn help and motivate your agent to do their utmost for you. This rapport will follow you all the way to Turkey and hopefully well after you have successfully purchased your new home in Turkey.
At Property Turkey, we put much importance to building a strong rapport with our clients. We don't have a pitch in front of us or a pre-defined property that we want to sell to you. We listen to you first and then together we decide where to look and what type of property would be most suitable for you. We like to understand your requirements and search in depth for unique and special homes that will meet the same. Therefore, you need to help us help you find that special place in Turkey.
Step 4 - Visit Turkey before you buy
The maxim, ‘seeing is believing’, is apt when describing Turkish property. To successfully decide whether to buy a home in Turkey you will need to visit Turkey, get to know the surroundings, try out the local restaurants and cuisine. At Property Turkey we don’t just sell you a property: we like to sell you a lifestyle, a dream location and idyllic surroundings for you to feel comfortable and at home in. If anyone tries to sell you a property on the phone and without seeing it, feeling it, touching it, then beware. That's not the way to do it.
Step 5 - Go on a Turkey property inspection trip
A professionally organised inspection trip with a reputable company will help you in your property search to a great extent. We recommend at least 4 days dedicated to seeing various homes with us, sorting our paperwork, and getting accustomed with local scenery and lifestyle. Avoid inspection trips offered by branded developers: you will only see properties sold by this specific developer, which means you'll miss out of a huge number of properties in the region. These trips are also infamous for their hard sell techniques.
Step 6 - See lots of properties to make sure you are settled on the right one
During your inspection trip with us, we will ensure that you visit as many properties as possible in as many locations as possible and reflecting a large price range to make sure that you really do get your value for money.
During our initial talks on the phone, emails and possibly face-to-face meetings prior to your viewing trip, we will have scoped out and marked plenty of homes and real estate in Turkey for you to see. After all, buying a home in the sun is a big decision to make – we want to ensure you make the right decision.
Step 7 - Negotiation on the price and terms of purchase
Whether you are buying a retirement villa in Turkey or an investment apartment, at Property Turkey we will always negotiate on your behalf to ensure the best possible price and terms are achieved. Our extensive networks and contacts mean we can secure significant discounts from developers as well as private sellers. This is our job, as your consultants representing you, we will do our utmost to secure the best deal possible for you. When budgeting for your purchase, keep in mind that although much lower than Spain, France and Italy, there are incidental costs associated with purchasing property in Turkey. Take these into account so you can budget accurately.
Step 8 - Reserve the property and freeze its price
Once you have found your dream home, villa, or apartment in Turkey, we will reserve the property for you so we can proceed with the purchase process. The cost of reserving real estate in Turkey is generally around £1,000 (Euro 1,200) and is non refundable. This amount is given to the seller as a reservation deposit and is deducted from the agreed purchase price. However, if having reserved the property, you then decide not to proceed with buying it, the reservation deposit is lost.
Step 9 - Appoint a solicitor by power of attorney to conclude the purchase for you
The easiest way to purchase a property in Turkey is by granting power of attorney to a solicitor in Turkey to conclude the deal on your behalf. This saves you time, means you don't need to stay in the country while the purchase is going through, and ensures your purchase will be as smooth as possible without any hitches or hiccups. At Property Turkey we have worked with many qualified and highly recommended solicitors and will introduce you to a lawyer during your inspection trip. You are of course welcome to select your own solicitor.
Step 10 - Conduct final completeness check on the property
After signing contracts, the purchase should take around four weeks to complete. Your appointed solicitor will during this process make all necessary checks on the property – including title check, municipality check, and military clearances to guarantee that the property is freehold registered in your name.
Step 11 - Receiving of title deed (TAPU)
The final step to complete your real estate purchase in Turkey is registering your TAPU (or title deed). Once we have secured all paperwork and both sides have carried out their contractual obligations – your home will be registered to your name and you will receive the title deed (TAPU) to your new home in Turkey.
That completes our easy guide to buying a property in Turkey. We are always happy to chat with you over the phone or email about your property requirements and any questions you may have regarding your purchase of real estate in Turkey. If you have any questions you may need answering, don’t hesitate to contact us at any time.
KICK BACK AND ENJOY YOUR NEW HOME IN TURKEY....