Steps To Buy a Property In Turkey
Steps To Buy a Property In Turkey
The most frequent question of our customers at the beginning of the work has always been about the process of buying property in Turkey. I asked Karma Turkey’s lawyer to prepare a summary of the property purchase process in Turkey that we need to know for Karma Turkey’s website, so that it is always available to you therefore you can learn about the general information about buying property in Turkey.
1- Prepare a list of the client’s wishes, conditions and tastes
In the first step, Karma Turkey’s sales experts ask a number of basic questions to know more about the services to be provided:
1-1 What is your goal in buying a property? For example, living in it or investing!
1-2 Do you have a specific city or region in mind? How much do you know about different regions?
1-3 What are the characteristics of the property you want? For example, about the square footage, the number of bedrooms and bathrooms, etc.
1-4 The budget you have set aside for this purpose, the liquidity of your capital and possible limitations.
1-5 Date of your trip.
The more complete the information in this list, the more it will help us understand your request. Karma Turkey sales experts who speak your language will select and send you the best available options before your trip to Turkey.
Our company’s real estate database is very complete and it will not be difficult to find the right option for you.
2- Real estate tour in Turkey
Now that the date of your trip to Turkey has arrived, it is a good opportunity to get more information and get to know the regions and culture of Turkey. One of the sales experts of Karma Turkey, who speaks your language, will visit your hotel in a company car. Then, at the head office of Karma Turkey, we will select and explain 4 options that are most compatible with your conditions and tastes. You will have a unique day with the expert team of Karma Turkey.
3- Reservation and signing of the property purchase contract in Turkey
After choosing the desired property for purchase, we will negotiate with the seller and get a discount. Then we will clarify the terms of cash payment or installment payment plan.
It should be noted that in Turkey, when a buyer likes a property for sale, he immediately reserves it. A form called the reservation form is designed, in this form all the agreed conditions and property specifications are mentioned and the parties sign it. The average amount of deposit to reserve a property is 5000 dollars/euro.
We remind you that this amount must be with the clients on the day of the visit.
4- Receive your specific tax number in Turkey
In this step, we need to get a tax number specific to the buyer. Our legal representative will go to the Turkish Tax Office and get this tax code for you. Karma Turkey provides these services for its customers for free.
5- Opening a bank account
Now you need a bank account in Turkish banks. We prepare a recommendation letter on your name You need to go to one of the branches of the Turkish banks with which Karma Turkey cooperates. Documents required for this purpose: 1) Original passport 2) A bill with your current address in your country and your name on it, for example, a water, gas or electricity bill.
Your bank account will be opened in one day and you will be provided with an ATM card and an active application on your mobile phone so that you can easily pay the purchase amount of the desired property and in the future, you can easily pay your house bills online.
6- Receive the expert report of the purchased property
According to Turkish law, all property buyers in Turkey are required to request an expert report to determine the real price of the purchased property.
This property appraisal report is provided by government and semi-government companies, it usually takes two working days. The lawyer of Karma Turkey will give you advice on this matter. We only work with reliable appraisers and reputable appraisal companies.
7- Signing the ownership document
Now we have all the conditions to complete the purchase. At this stage, payments must be completed and taxes settled. Karma Turkish Real Estate Company will take an appointment from the Property Records Department and we will announce it to you.
For all matters mentioned in the previous 7 paragraphs, you can represent Karma Turki’s lawyer or your lawyer or a legal representative and send us this power of attorney. In that case, you don’t even need to be in Turkey to receive your property document. Karma Turkey International Company will follow up all matters and deliver the house key to you along with the property document.
Important points you should know:
We work directly with buyers and sellers. We do not involve any intermediaries. Before signing the contract, Karma Turkish real estate company checks all the details to ensure that the full agreement of the parties is observed.
Among the legal and ethical duties of Karma Turkish Legal Real Estate Company towards customers are as follows:
– You will be shown exactly the property being traded.
– You buy from the original seller.
– The property must be free of debt/ bank loans.
– The transaction should be done under the conditions agreed by the parties.
We prepare the official sales contract with all the details in the language of your choice. Advance payment must be made within 1-4 weeks after signing the contract. This amount is on average between 30 and 50 percent of the selling price. The rest of the amount will be paid at the stage of transferring the ownership document.