A simple guide to buying property in Turkey.
A step-by-step guide allowing foreign nationals buying property in Turkey to do so as smoothly and safely as possible.
10 Steps to buying property in Turkey
Step 1 – Do your research
Research, Research and then Research some more!!
Not many people buy property on such a regular basis that they are on first name terms with their Real Estate agent. Unless you are a Serial Investor that is! Even if we were to sell the home that we have lived in for years we would have to research our local agents to find out what they charge, how quickly they generally sell a property in and other things that we would consider important in our ideal agent. The same is true for buying abroad, even more, I would say. You have no idea who the agents are. At least at home, you know the established agencies. Abroad, who knows!
Research doesn’t stop at the agencies. When buying abroad, you need to know what the buying process involves in that country. Every country is different, Every agent is different. Make sure you research thoroughly to get the right one. Here are some websites to help you get started.
Once you’re fed up with those you may want to come to ours!
Step 2 – Compare agents
Apples and Oranges.
Now you’ve done your Research, you should have an idea of where you want to buy, how much you want to spend, what the buying process involves and who you want to use to buy your property. All agents are different, you may not feel a connection to one, but have confidence in another. As long as your gut feeling tells you someone is right for you, go with them. After all, if you have done your research right, you can’t go too far wrong.
Step 3 – Visit Turkey before you buy
The Agent sold you on the idea. Your friends said it’s a beautiful place. You read that it’s the lace to be. Whatever anyone says or what you’ve read the property is going to be yours. You need to decide if it’s for you or not. We all do it, we get influenced by others and decide to do something on their say so. My advice, get recommendations but make up your own mind. That means come out to Turkey, have a look at what’s good out here, as well as what it’s lacking. See for yourself and make up your mind.
Step 4 – Beware the Inspection Trips
If you haven’t been on an inspection trip, organised by an agent or developer, my advice is don’t.
Nobody should be subjected to that much torture! Most people go on the subsidised inspection trips because they are a cheap way of getting out to see the property, maybe even free!
Ever heard that old saying… nothing in life is free?
Well, inspection trips are like being in North Korea. You paid to go and see the country, but you only get to see what they want you to see. Same with inspection trips. The agent will only show you what they want you to see. They show you all the good bits over a couple of days. You have no idea what is going on and when you do you’ve signed on the dotted line and the property is yours. A better way to do things is to go out to the area where you want to buy is. You have a look around, wherever you want. Talk to people, there will be expats living there all year round. Ask their advice, ask them questions. See the bad side of the place as well as the good. Then Decide.
Step 5 – See as many properties as possible.
While you are on your visit make sure you see as many properties as you can. Make sure the properties you see are in various areas with a range of prices. Also, make sure you get an idea of what price difference would be for different configurations. For example, a 2 bedroom 3 bedroom and maybe even 4 bedrooms. The prices may not be too far off your budget and you may be able to get better value for money.
Step 6 – Negotiate the Price
Always negotiate the price. Goes without saying really. Most agents know that a buyer will reduce the price slightly. Everyone loves a bargain, if you reduce a few thousand off the asking price you would feel happy buying the property too! So negotiate, it’s expected.
Step 7 – Reserve the property
Once you have found the property that makes your heart beat faster, reserve it. Pay the agent a holding deposit. A warning this is a nonrefundable deposit so make sure this is the home you have been looking for. These deposits are usually about £1000. The amount is then deducted from the agreed, Negotiated purchase price. This is a good investment for 2 reasons.
- You can’t lose the property for the time that you have agreed with the agent to reserve the property.
- It gives you time to make sure that you have made the right choice of property. Visit the property on your own, without the agent. See what it’s like. Get comfortable with it and make sure it is the one for you. If for whatever reason you decide that it is not for you, you will have lost only £1000. On the other hand, the time the reservation of the property gives you to confirm that it is the one is priceless!
Step 8 – Get a Solicitor
Yeah, none of us like them, but sometimes we have no choice!
When you’re buying your property the agent or developer goes through the buying process, usually without explaining to you what’s going on. They’ll take you to one office after another asking for your Passport at one and then getting you to sign something at another and then you’ll suddenly find yourself sitting in front of a solicitor. The solicitor will explain a few things to you and you’ll nod your head in a puzzled way. Before you know it you have bought the property without even realising you said yes to it.
This is the way most agents work, not just in Turkey, but in most countries around the world. They want to get you signed up before you change your mind. You have cost them a heap of money. Firstly they have advertised or gone to the trouble of exhibiting at one of the many property exhibitions. Next, they probably subsidised a flight for you to come out to the country. Not to mention your accommodation. Then they have driven you all over showing you their properties, feeding you along the way. So they have invested a lot of time, money and effort in you.
The minute you say yes to one of their properties, the wheels of a well-oiled machine start turning. They get you signed up before you know it. The solicitor that was sitting in front of you, well turns out, that was your Solicitor. You are paying for them. You thought it was the developers’ solicitor. No, it is definitely yours. Ask yourself who chose this solicitor?
The developers and agents have their own chosen Solicitors. These solicitors are supposed to be independent, but you’ll find that many are nothing of the sort. In fact, many agents get commissions from the solicitors for bringing them clients. If you have a problem they will always side with the Agent or developer. So my advice is never accept any solicitor that an agent suggests. Always choose your own Solicitor.
Visit our website for advice on how to choose a solicitor.
Step 9 – Property Checks
Once all the paperwork has been signed and authorised, your Solicitor will do all the checks on the property. They will do a Title check. This makes sure that the person selling the property is the legal owner. The municipality check. When you buy a property in Turkey you must register with the local municipality. Once registered you will be liable to pay any Property taxes etc. The last check is the Military Clearance. This takes the most time and checks that, the property that you have bought is not in a restricted area.
Step 10 – Get your title deed (TAPU)
To complete your purchase you need to register your TAPU or title deed. Once all the paperwork has been done and both sides have done what they need to do contractually. The property will be registered to your name and you will get your Title Deeds, TAPU in Turkish.
That completes our easy guide to buying a property in Turkey. We are always happy to chat with you over the phone or email about your property requirements and any questions you may have regarding your purchase of real estate in Turkey. If you have any questions you may need answering, don’t hesitate to contact us at any time.
To see all our properties in Turkey visit our website