PROCEDURES FOR BUYING PROPERTY IN TURKEY

The following is the process that should be followed when buying property in Turkey. Please be aware that the fees quoted are approximate and that these procedures may change.

1. Decide on the property you wish to purchase.
2. Your agent will then contact the vendor with your offer. The general terms of sale such as the deposit required will be discussed. The deeds will be checked to see if all is in order.
3. Arrangements for the payment of the deposit should be made and if you have to send the deposit from abroad a deposit should be given to secure the property. If you intend to be out of Turkey when the contract is drawn up you will need to give either your solicitor or your agent Power of Attorney to act on your behalf.
4. Once the deposit has been received the contract will be drawn up. 3% of the Real Estate commission is paid at this time.
5. Permission from the military will then be applied for. The permission usually takes from 8 to 10 weeks and the solicitor or agent will inform you when it has arrived. Because of the long waiting period the vendor usually requires most or full payment of the purchase price up front. In this case a charge has to be put on the property by the Buyer until the permission arrives and the completion takes place.
6. After the permission has arrived there are 10 days in which the deeds should be exchanged.
7. Once you have the deeds you can then apply for your residence permit.

FEES FOR THE PURCHASE OF PROPERTY
Real Estate Commission : 3% of the paid price for the property
Solicitor's fees : 1 000 pounds + 18% VAT (on average)
Military permission application : 2 000 YTL (approx 715 pounds) For the Bodrum municipality (Varies according to municipality)
Charge : approx 1 000 pounds Depending on property value
Deeds Office Administration Fee : 140 YTL (approx 50 pounds)
Other (Deeds fees) :  55,50 YTL (approx 20 pounds)
Power of Attorney Notary fees: approx 375 YTL (approx 135 pounds)
Stamp Duty: 1.5% of the valued price given by the Municipality from the vendor and 1.5% from the purchaser.
Translation Fees for Deeds Office:  60 YTL (approx 22 pounds)
Compulsory Earthquake Insurance: 45 - 300 YTL (approx 16 to 110 pounds)

4 passport photographs and 4 copies of the main page of your passport will be needed for the procedure.

It is recommended that you appoint a lawyer to represent you when you are purchasing property in Turkey. Below is a list of lawyers we work with. However please note Buybodrum.com will not take any responsibility for the competence or probity of any firm/advocate on the list or for the consequence of any legal action initiated or advice given.

English Speaking Lawyers: BODRUM

1. Mrs Semray DOĞAN
Türkkuyusu Caddesi
Hükümet Sokak 11/A K: 2
Bodrum
Tel: +90 252 313 66 54
Fax: +90 252 313 86 95
(Specialises in civil cases, criminal cases and human rights)


2. Mr Mehmet Sinop
Çarşı Mah.
Eski Hükümet Sok. No 15/2
Bodrum
Tel: +90 252 313 01 00
Fax: +90 252 313 89 99
(Specialises in civil, criminal cases and commercial trial)


3. Mr Ekrem Sari
Türkkuyusu Mah.
Meydani No 6
Bodrum
Tel + fax: +90 252 313 19 91

4. Legal Independence Consultancy Services
Kıbrış Şehitleri Caddesi
Yüksel Çağlar İş Merkezi No 13
Bodrum
Tel: + 90 252 316 15 95
Fax: +90 252 316 36 80

English Speaking Lawyers: ISTANBUL

Mr Kevin Hood (Angloturkishlaw)
T-14 Mozaik Çarşı, K2 - No 4
Ataşehir, 34780 Istanbul
Tel. + Fax: +90 216 417 74 20

REAL ESTATE COMMISSIONS

These commissions are set by the Bodrum Real Estate Association
PROPERTY SALES: 3% from the buyer and 3% from the vendor
PROPERTY RENTALS (long term): One month's rent from the tenant
COMMERCIAL SALES: 3% from the buyer and 3% from the vendor
COMMERCIAL RENTALS: 10% of the rental value to be paid by the tenant
The commission is paid to the Real Estate Agent when the initial deposit is paid.