The process of property purchase in Turkey

The process of property purchase in Turkey photos

Thousands of foreigners buy real estate property in Turkey every year. In addition to the sea, the sun, and well-maintained beaches, investors gain plenty of other benefits: high liquidity of housing, good quality construction, affordable price, high standards of living, excellent prospects for the future.

Would you like to buy an apartment in Turkey? It will be incredibly easy with the Status Property agency. We know how to professionally, quickly, and safely fulfil your dream of comfortable real estate on the seashore within a few days.

The procedure of real estate purchase in Turkey consists of several stages.

Property selection

A careful choice is a basis for a lucrative purchase of a real estate in Turkey. It might be challenging to take this crucial step on your own. Among the wide variety of objects available on the market, you need to choose a property based on the individual objectives for the purchase. All features matter: location, area, layout, stage of readiness, budget.

Our company's website has already collected all the most appealing real estate options: there are real estate properties from developers and individuals for recreational, residence, citizenship, investment, business purposes.

To make a final decision, you can come to Alanya and personally observe the selected options as part of an inspection tour or book an online viewing of real estate. Complete and reliable information will help you decide on your purchase.

The process of property purchase in Turkey photos
The process of property purchase in Turkey photos
The process of property purchase in Turkey photos
Preparation of documents for registration of the transaction

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 and opening an account

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 process of property purchase in Turkey photos
Property payment

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 process of property purchase in Turkey photos
Transfer of ownership and TAPU

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!

The process of property purchase in Turkey photos
Need more information?
Fill in the form for free consultation
We will contact you shortly and answer your questions
Ask manager