Property buying details and cost in Turkey
Property buying details and cost in Turkey
Have you decided to buy property in Turkey? What are the cost and reliable ways of purchasing prices and procedures?
When you decide to buy property in Turkey, you should first find a reliable real estate company. Once you have found the overseas property, you should make a contract.
Property Purchase Contract
The property Purchase contract is between the buyer, seller, and real estate broker. You can make it together, or better, you can make this contract with a lawyer. In this contract, the details of the property must be written correctly. What is essential in the property purchase contract in Turkey
This vital information is the seller's name and the property's address.
It would be best if you were careful with your payment details. The deposit amount and the total amount must be written correctly, and the payment date.
Seller, Buyer, and broker ID cards should be attached
The title deed should be attached
Property Stamp Duty
Property stamp duty is 4% for apartments and 3% for lands. However, you should pay from the declaration amount. A 750 TL transaction fee is paid.
Declaration Amount of Property
Before you go to the land registry office you need to get the minimum range of your property. The municipality office gives the minimum range of your property. While you are getting this amount, if any yearly tax is not paid, this tax must be paid.
After you get the minimum range of property, you declare this to the land registry, or you can increase the declaration amount. But if you get the mortgage, this amount should be more than your mortgage amount.
Land registry application
When you get the declaration amount, the seller must apply for the title deed transfer. You also need to make an appointment to use it, if you don't mind. Here is the link where you can apply: https://randevu.tkgm.gov.tr/en/Appointment/Agreement. The seller has to be ready at the land registry office with the documents below.
Minimum range of property from the municipality
Two photos of the seller
ID card of the seller
ID or passport of buyer
Two pictures of the buyer
Tax number of buyer
Transfer of Title Deed
When all documents are given, the stamp duty should be paid to Ziraat Bank, Halk Bank, or Garanti Bank. The land registry office is sent a reference number via SMS.. with the reference number, your stamp duty is paid.
Buyer and seller should be ready at the land registry office at the appointment time. If one side is a foreigner, the sworn translator also should be prepared. The buyer must be careful that there is no mortgage from before. Usually, the officer tells this, but you can also ask the officer.
