We will stay by your side throughout the process of selecting and purchasing real estate in Turkey. Our professional team will remotely walk you through all the steps of closing the deal on your purchase. Your presence is not necessary as any issues can be settled remotely under a power of attorney.
You can take the following steps to purchase a home in Turkey online.
Content:
- Choosing a home: how to select a property
- Granting a power of attorney
- Due diligence: checking if everything is correct
- Applying for a Tax Identification Number
- Closing the deal and putting down the deposit
- Payment
- Applying for TAPU
- Conclusion
Choosing a home: how to select a property
Turk.Estate will help you find the home of your dreams in Turkey!
To begin, you need to select a residence from the available options in our catalog. Choose a location first and then the actual house. Not only photos but also video tours are now available to demonstrate apartments and communal spaces remotely. In a video tour, you can look at facilities in detail, see the quality of renovations, the view from the window, and so on. The buyer can appoint the viewing time convenient for them and also select the choice of media, such as a messenger or a video call platform.
We recommend scheduling several online viewings while you are choosing a home as seeing different options puts many things into perspective.
Granting a power of attorney
We can perform most of the job on our own, acting on your behalf, under a power of attorney. This will save you time and money on several trips to Turkey. The power of attorney must be translated into Turkish and notarized.
Due diligence: checking if everything is correct
A lawyer will make sure the transaction complies with all legal requirements and verify all documents and related aspects when the title deeds are signed.
A team of lawyers will check the legal status of the purchased property, control every step of the transaction, and study the legitimacy of documents to protect the client purchasing real estate in Turkey.
The lawyers will check:
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TAPU – Title Deed.
This stamped and signed document includes detailed information on the property, the price, and the previous owners. It will confirm that the property seller is indeed its rightful owner.
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Debts.
We will check and provide documents confirming the absence of utility debts or tax arrears.
Applying for a Tax Identification Number
It is very simple to obtain a Tax Identification Number (TIN) in Turkey. Foreigners can now fill out a TIN application on the tax authority’s website.
The only document you need to apply for TIN is an international passport. The application process takes 15 minutes. The TIN assigned to you will be available in the bank system within the country on the day of issuance.
Closing the deal and putting down the deposit
When an apartment has been selected, the seller and the buyer close the deal and write a contract that includes all data relating to the property, the seller, and the buyer, specifics of the parties’ obligations, and outlines of the payment procedure. You only need an international passport to sign the contract.
This document is created in duplicate and two languages, Turkish and the buyer’s native language.
The buyer puts down a deposit to reserve the property. The deposit amount is usually 5 – 10% of the value of the apartment or house. Please note: if the client changes their mind about the purchase after paying the deposit, this amount will not be returned. If the buyer refuses to close the deal on the purchase, they will have to pay the buyer a forfeit under the contract an amount over two deposits.
If you want to have full ownership of your purchased home and receive TAPU, you need to issue and send a corresponding power of attorney to your representative. You will not be personally present during the transaction if you purchase online.
The title system of acquiring rights for housing is currently effective in Turkey. This means that the Land Registry and Cadastre Directorate (a state authority registering transactions with real estate) performs all procedures connected with issuing TAPU. The Turkish legal system is famous for its discipline and speed and all transactions are transparent and strictly controlled by the state.
Payment
You can pay in liras, dollars, or euros, but the latter option is the most common.
In most cases, the payment is made via a bank transfer. If you have an account in a Turkish bank, it will make the payment process significantly easier.
Applying for TAPU
The seller and the buyer (or his/her representative acting under a notarized power of attorney) come to the Land Registry and Cadastre Directorate. TAPU, the key document confirming the right of property ownership in the country, is handed over.
As a result of the transaction, TAPU is transferred to the new owner. This document must specify:
- Address of the property.
- Details of land registration with the Land Registry and Cadastre Directorate.
- Land status (data from the Land Registry and Cadastre Directorate).
- Land area.
- Ownership type.
- Property price.
- Information on the previous owners.
- Information on the new owner.
- Purchase date by the previous owner.
- Previous owner’s TAPU data (a new number is assigned upon change of ownership).
- Data on TAPU registration.
- Date of closing the deal with the current owner.
- Stamp of the Land Registry and Cadastre Directorate, the signature of an authorized person.
By the time of receiving TAPU, the payment for the apartment must be made in full. TAPU is issued within five business days.
Conclusion
We hope this manual helped you to understand the process of purchasing a home in Turkey. There are many things to keep in mind but don’t let any of them intimidate you. We will walk you through every step and explain all procedures so that you don’t feel overwhelmed. The Turk.Estate team speaks your language, so you will understand every detail of the transaction perfectly.
Start selecting a Turkish property right now – you can do it online!