A Seamless Guide to Purchasing Real Estate in Turkey: Step-by-Step

The process of purchasing real estate in Turkey is remarkably straightforward. With a meticulously refined mechanism, foreigners have been buying property in the country for years, and the number of transactions continues to grow. As such, each stage has been streamlined, optimized, and is free from any complexities.

Step One: Purchase Agreement

Once you've selected the property, a purchase agreement is signed between the seller and buyer. This agreement outlines:

• Details of the property (features, layout, etc.)

• Information about the parties involved (seller and buyer)

• Conditions of payment

• Payment deadlines

• Obligations of both parties

The contract is drafted in two languages: Turkish and the buyer's language (Russian for Russians, Kazakh for Kazakhs, German for Germans, etc.). To sign the purchase agreement, the buyer only needs their passport. The contract is then notarized, marking the beginning of the next stage.

Step Two: Down Payment

After signing the contract, the buyer is required to make a down payment. This confirms the buyer's commitment and secures the chosen property. Typically, the down payment is specified as a separate clause in the contract. In a standard purchase, the down payment is generally around 10% of the property's value. If the buyer decides not to proceed with the purchase, the down payment is often non-refundable or partially refundable, as stipulated in the contract.

Step Three: Documentation

For further proceedings, including obtaining the Title Deed (the primary ownership document in Turkey), foreigners need to arrange the following documents:

• Tax Identification Number (TIN): An individual tax number required for various transactions, including opening a bank account, property registration, utility payments, etc. The TIN is obtained from the tax office (vergi dairesi) and usually takes only a few minutes.

• Bank Account: To transfer funds for the property purchase, utility payments, and residence permit application, a foreign buyer needs a Turkish bank account. Opening an account requires a passport and its photocopy, along with the TIN. Other documents might be needed depending on the bank.

• Power of Attorney: If the buyer opts not to handle document preparation personally, a power of attorney should be issued to the real estate agent. The power of attorney needs to be notarized, allowing the agent to act on behalf of the buyer legally.

Step Four: Permission

In certain cases, permission to buy property from the Turkish military may be required. However, this is exceptionally rare. If the property's land has been reviewed within the past 11 years, the process becomes a formality.

Step Five: Payment

Property prices in Turkey are often quoted in euros or dollars for the convenience of foreign buyers. However, according to a recent law, payments must be made in Turkish lira at the prevailing exchange rate. Thus, currency conversion needs to be considered and prepared for.

Step Six: Title Deed (TAPU)

The Title Deed is the primary document confirming property ownership. It's issued by the Turkish Land Registry and Cadastre Office and can be obtained from a local office. Usually, the buyer personally obtains the Title Deed. If not feasible, a representative can collect it with a notarized power of attorney. The Title Deed contains information about the property and the current and previous owners.

Step Seven: Utilities

While receiving the Title Deed marks the end of the purchase, an important aspect remains: arranging utility service contracts (internet, electricity, water). Our company's after-sales service department can assist with these procedures, ensuring a smooth transition. These contracts may also require the mandatory government insurance, DASK, which needs to be renewed annually for all Turkish property owners.

All these procedures are effortlessly managed with RestProperty, an international real estate agency in Turkey. Our specialists handle all aspects, including documentation, consultations, advice, and more.

Additional Note: Remote Transactions

Currently, all the aforementioned procedures, including property selection, can be conducted remotely. We're here to assist with this as well.