Buying a property in a foreign country can be a very exciting and at the same time daunting period for many people this is why we explain it here within these simple easy steps . Remember we as your local Turkish property estate agent are acting on your behalf and will be there to provide you with our full services throughout each step of they way to owning your new home in Turkey and beyond your expectations of us .
1. Property Search and Viewings
The first step is finding the right property that meets your needs and budget. After your initial inquiry, we’ll discuss your requirements and identify suitable properties in Istanbul Turkey. We’ll then arrange viewings at your convenience, providing insights into each area and property to help you make an informed decision.
2. Obtain a Tax Number
Before proceeding with any property purchase in Turkey, you must obtain a Turkish Tax Number. This is required for various financial transactions, including opening a bank account and registering the property. You can obtain a tax number from any local tax office in Turkey by presenting your passport.Turkish Tax Number Application
3. Open a Turkish Bank Account
Next, you’ll need to open a Turkish bank account. This account will be used for all financial transactions related to the property purchase, including transferring the deposit and final payments. Opening a bank account in Turkey is straightforward; you’ll need your passport, tax number, and proof of address (such as a utility bill). Read our detailed article open a bank account in Turkey
4. Reservation and Deposit
Once you’ve found the perfect property, it’s time to secure it with a reservation deposit, typically 20-30% of the purchase price. The exact amount will be confirmed with the current owner or builder. A receipt will be issued, and the deposit will be documented in the sales contract.
5. Sales Contract
The sales contract is a crucial document that outlines all the terms of the purchase, including the agreed price, deposit amount, payment schedule, and the date of the title deed transfer. You’ll need to provide two passport-sized photographs and a photocopy of your passport for all individuals whose names will appear on the title deed.
6. Power of Attorney
If you are unable to be present in Turkey when the title deed transaction occurs, you can grant Power of Attorney to your agent or solicitor. This document, signed at a local Notary’s office, allows your representative to complete the transaction on your behalf, ensuring the process continues smoothly even in your absence.Read detailed info. How to Grant Power of Attorney in Istanbul Turkey
7. Title Deed Transfer (Tapu)
The Title Deed Transfer, known as “Tapu” in Turkey, is the final step in becoming a property owner. This legal process transfers property rights from the seller to the buyer and includes various checks, documentation, and government approvals to confirm the property’s legitimacy.Read details What is a Tapu ? Why is so important?
Our team of experts is well-versed in managing the Tapu process, ensuring that everything is handled efficiently and securely. Whether you’re a foreign investor or a local buyer, we’re committed to making your property purchase in Turkey as smooth and stress-free as possible.
Why Choose Us?
We are dedicated to providing you with comprehensive support throughout the entire property buying process in Istanbul Turkey. From obtaining a tax number and opening a bank account to the final title deed transfer, we’re here to ensure your experience is seamless and satisfying. Trust us to be your reliable partner as you embark on your journey to owning property in Turkey in 2024.
