What extras above quoted purchase price do I
have to pay?
As the prices quoted from the builders and vendors are net prices, a buyer's
commission of 3% + VAT of the purchase price is charged by the agent for
their services. In Turkey this is standard practice. It becomes due on the
signing of the purchase contract and is paid in sterling to the UK office. |
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In
addition to the buyer’s commission. there is a cost of approximately € 1,300
for the Title Deed (known in Turkey as the “Tapu”) and translation services |
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For
example a property costing € 100,000 Euros |
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Cost of the property |
€100 000 |
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Title Deed and Translation |
€1 300 |
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3% Sales Commission and VAT |
€3 525 |
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Total Cost |
€104 825 |
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Do I need a Solicitor? There is no
need to employ a solicitor in Turkey due to the tightness of the regulations
in favour of the purchaser, however it can be arranged if you require but
there will be extra costs, which can be considerable. |
What documents do I need to purchase a
property? Your passport is required and you will be taken to obtain a
tax number that is issued locally in Turkey. |
Can I pay for the property from the UK?
Once you have signed the contract for the property that you would like to
buy, you can transfer money into certificated agents HSBC account in Turkey.
It's strongly recommended that you use a commercial foreign exchange company
for this to obtain the best rates and speed of the transaction, not your
local bank. We will recommend companies to you. |
Do I
need to open a bank account in Turkey?
You don’t need to open a bank
account in Turkey but it is useful to have one for standing orders, such as
electricity. |
If I
buy a plot of land, do you have plans/designs etc?
We
have a variety of plans available and retain the services of our agents
Turkish architectural services, who will assist in planning permissions,
building regulations etc. |
How long does it all take?
It
takes approximately 8 - 12 weeks to receive the final Tapu (Title Deeds),
first it goes to a regional Tapu office then to a Military Head office in
Izmir to check that it isn’t in a Military Zone. This is just a formality.
If everything is approved then it takes just one day to complete. You then
go to the Tapu office with a translator to sign the appropriate documents. |
How do I get the
electricity and water connected and what does it cost?
To put
the electricity connection in your name you should contact the electricity
company Tedas. Our Turkish agent will arrange this for you. Connection of
electricity is currently €70 and connection water €70 but it is often
included. |
Can we pay our
bills by standing order?
You
can pay all bills by standing order. |
Do I have to make
a new will in Turkey?
Once
the property is registered in your name, you can make a Turkish will but
your UK will is legal in Turkey. |
Are there tax
implications if I decided to sell up and return to UK/Europe etc?
At
present, there is a property sales tax which is 0.3% of the value of the
property |
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