The process of property purchase in Turkey

After you have chosen a suitable real estate object and come to an oral agreement with the seller, we can proceed to the next stage of the real estate purchase - preparing documents, signing a buy-sale agreement, and making a deposit.

The buy-sale agreement is not the basis for the transfer of ownership, but it contains all the main terms and conditions of the sale. To sign the agreement and make a deposit, you will need only your passport. However, to complete the property registration procedure in Turkey, you will have to prepare and issue a standard financial and legal document package.

The list of required documents includes:

• notarised power of attorney (at the request of the buyer);
• photos 3x4;
• individual tax number;
• bank account.

Status Property specialists double-check the object for debts and other legal issues. If you do not have the opportunity to come to Turkey, we will prepare all the documents for you using a power of attorney.

Obtaining TIN is a mandatory requirement for the legal registration of a buy-sale agreement in Turkey, including foreign investors. An individual tax number is issued by the tax office at the location of the real estate property. To obtain a document, you will have to provide your passport and fill in an application. Our agency representative will make the procedure easy, and the entire registration process will take just a few minutes.

Opening a current account in one of the Turkish banks is not a mandatory procedure. However, most buyers use this particular payment method for real estate. You will need an account to obtain a residence permit in Turkey, pay utility bills, and carry out other financial transactions when living in Turkey.

The process of opening a bank account will run smoothly with the help of a professional of the Status Property agency. You will need a national ID, international passport, TIN, and a bit of free time to visit the bank.

The cost, currency, method, and terms of payment are agreed upon by the parties in advance and are stated in the buy-sale agreement. You can pay for real estate in Turkish liras, dollars, euros, British pounds. The most common currency is the euro.

You can make a payment for real estate in different ways - cash, bank transfer, transfer from a legal entity, international payment systems. Frequently an investor pays a deposit in cash, and the rest of the amount is transferred via the bank from the buyer's current account to the seller's account.

You can obtain TAPU - a certificate of ownership only after full payment for the purchase. If the buyer takes out a mortgage loan, TAPU will be issued. However, it will contain the corresponding encumbrance.

The final stage of real estate purchase in Turkey is the transfer of ownership in the Cadastral Office.

The main document confirming the ownership rights for real estate in Turkey is TAPU. The buyer receives the certificate after full settlement with the seller. The Cadastral Administration is the only official body authorised to carry out real estate transactions. This fact guarantees investors transparency, reliability, and legitimacy of the buy-sale agreement.

On the appointed day, the buyer and a representative of the Status Property agency meet with the seller at the Cadastral Office. The presence of a sworn translator is mandatory at the transaction. His primary duty is to translate everything said by the member of staff of the cadastral department, which ensures the legitimacy of the procedure.

A TAPU in your name will be issued approximately five days after you submit the application. From now on, you are the owner of the apartment by the sea in Turkey.

Buying property in Turkey is safe and easy with the Status Property real estate agency!