What taxes will I need to pay?

a) Property Tax       -     3% of declared value of property

b) Tapu Fee            -     4.8% of declared value

c) Earthquake Tax  -     about GBP 30 + minimal documentation expenses.

 LEGAL ADVICE

We always advise that clients use a solicitor for their own safety and it may also reduce the overall cost of purchasing a property.

The following is to help you understand the process of buying in Turkey:

Once the solicitor has been appointed they will check:

1. The title deed (Tapu)

2. The seller is the legal owner

3. The property is debt free

4. All building permission and licences 

5. All terms and conditions of sale are acceptable

Once the sale agreement has been drawn up as a legal binding contract and the buyer and seller have agreed and both signed, the title deed will be applied for. The process takes approx 6 - 13 weeks, this is due to the army search (this search is designed to prevent people with serious criminal convictions and terrorists from purchasing property). Should you be refused permission from the army you have the right to transfer the sale over to a nominated third party or have the contract cancelled.

Once the permission is received back from the army deeds transfer will go ahead. You can either be here to sign yourself or nominate by power of attorney someone to represent you. (the acting solicitor will do this for you) Should you opt for power of attorney the solicitor will ensure that all taxes are paid and the title deed is registered in your name.

Please note that the buyer is responsible for paying the water and electric connection and 1/2 the taxes due.

For further information contact:

www.britishembassy.org.tr                  

FAQ:

  What medical services are available in Turkey as we are considering moving abroad?

There are no NHS hospitals in Turkey at the moment. There are Government and Private hospitals. Private hospitals are much cheaper than most European hospitals (approx 45% cheaper) and at times treatment prices can be negotiated. The quality of care is first class. It is important if you are considering coming to Turkey to live to ensure that you obtain Private health insurance, this can be obtained in Turkey. For a good comprehensive cover and piece of mind we recommend Bupa international ! for further details link onto www.bupainternational.com

  Are properties Freehold in Turkey?

Yes the majority are, anyone wanting to purchase Commercial properties out right should first check with their Agent if it is freehold or not.

  Do we need a solicitor to purchase a property?

Classicestates do not sell any properties without the use of Legal representation. It is essential that your rights are protected and the best way to do this is to use an independent reputable legal team. The solicitor will ensure that a legal binding contract is drawn up and signed by the buyer and seller. The solicitors job is to also ensure that the seller is also the legal owner of the property / Land and has the right to sell it. Ask yourself would you buy anything in your country and hand over thousands of pounds without the use of a lawyer? Would you buy a property from a waiter in a pub or restaurant in your country? The answer should be no! So please don't be foolish to attempt to do it over here. Come and speak to us first we can save you thousands of pounds and misery.

  How long does it take for us to actually own the property? 

No one can have the deeds to their property until the Army have done a search on that person, this process can take anything up to three months. Once the all clear is given by the Army the deeds will then be transferred into your name. We do however have an agreement with local builders which allows our customers to furnish their new home and move in before the deeds are transferred, so you don't have to delay enjoying your new place in the sun!

  Can we own more than one property?

Yes you can. There is no limit to how many properties you wish to invest in. Please note that for every property you purchase the Army search applies to each property so there will be the same wait for deeds transfer. For block purchases (as for example a complete complex) it is possible to obtain all the properties on one title deeds, should you wish to sell on you would however have to pay to get the deeds split into individual properties. 

  Who inherits after our death?

Turkish Law is very similar to British Law Spouses inherit from each other and the next of kin (children if any) in the event of the death of the female spouse or both spouses. The property for the  next of kin if both spouses die is divided equally. The only difference is if the male spouse dies and there are children, 1/2 of his 1/2 of the estate goes to his wife and the other 1/2 of his 1/2 is divided between the children In the event of the woman spouses death then all her 1/2 goes to the husband. For amendment on title deeds due to death will require legal assistance. 

  Can we have a will drawn up in Turkey?

Yes you can the local Notary can help you with this, just ask and will advise you.

  Can Classicestates Manage & Rent out our property?

We can certainly manage your property we have a very good after sales and property management service we will assist our clients where possible to rent out their property, we will also advertise it free of charge on our website. 

 Are their many British buying in Turkey?

Yes, the last few years have seen a considerable amount of Brits buying over here. There are many different reasons for this.  Some people have decided to invest their pension money in property over here due to the small return on their savings in Britain. Some people simply cant get on the property ladder in Britain and have purchased over here with a view to sell in later years to help them use the great investment to purchase later in England. Others have huge equity now in their homes and have used some of it to buy a dream holiday home. Others simply have surplus cash and see a great investment for the future! Quite a few people have also sold up and moved out here because of the great climate and low cost of living and lets not forget the wonderful culture over here. The people are warm and friendly & love children. Crime rate is very low, what could be more perfect!

  Is buying a property in Turkey an investment opportunity?
Potentially, purchasing a property in Turkey is a fantastic investment opportunity, because prices are still relatively low in most areas. Those who have already purchased are seeing good returns. To date, conservative estimates would advise on around 15-20% increases year-on-year. EU accession talks began back in October 2005 - property investors see this as a potentially long-term benefit.

 Are mortgages available?
Mortgages have launched for foreigners looking to purchase property in Turkey. We now have a Mortgage Advise who can help you please ask and we will Advise you accordingly.

 Is there a limit to how much land I can own?
At the beginning of 2006, the legislation was adapted to enable foreigners - from countries where a reciprocal agreement is in place with Turkey to purchase land in municipality areas only. Additionally, they are limited to the amount of land they can purchase a minimum of 2.5 hectares, and a maximum of 30 hectares.

 Do I have to pay taxes?
Yes, in general this is 3% of the property value for the buyer. There is also a rental tax that should be paid if you are renting out your property.

 If we sell our property, can we take all of our money out of Turkey again?
Yes you can. It would be better to do this via your bank so that money is recorded leaving and entering countries.

 Can I open a bank account in Turkey if I own a property there?
Foreigners can open an account at a number of the Turkish banks. Your passport is always required when going inside a bank. Cash point cards are available and can be applied for once the account is open. A bank account is useful for setting up direct debits for utility bills.

 What about bringing pets into Turkey?
It is possible to bring a pet into Turkey with its own passport. However, on returning to the UK you would be subject to quarantine laws.

 How long can I stay in Turkey on my tourist visa?
The tourist visa purchased on entry to Turkey is valid for up to 3 months. If you wish to stay in Turkey for longer periods it is possible to apply for a Residency Visa, providing you can show evidence of your ability to financially support yourself during your stay. You can start your Residency Visa application from Turkey. The current 5 year cost is about 950 GBP per person but short periods are available.

 Living Expenses - Monthly outgoings, roughly what will they be? Is it expensive?
Monthly outgoings will vary according to personal use but a guide would be: Electricity approx. 15 - 20 GBP per 2 months. Water approx. 15 GBP per 2 months (more if you have a large garden to water). Property tax approx. 30 - 150 GBP per year.

 How does the general cost of living compare to the UK?
Fresh produce is great value for money. You'll find most items up to 50% cheaper than in the UK with electrical items being the most expensive.

 Can I work in Turkey?
Yes, you can but you must obtain a work permit first, this must be applied for by the employer before you start.

 What about schools and colleges?
As a resident, you can send your children to local government or private schools. Both offer a good standard of education. The private schools are international and accommodate pupils from all over the world.

 What is Notary?
A public officer licensed by the state to administer oaths, certify the authenticity of legal documents, and perform other official administrative duties.