Table of Contents Hide
- Step 1- Deciding On Your Needs And Researching Your Turkish Property
- Step 2- Communicate with Kingsman Estates
- Step 3- Book Your Flight To Turkey And Start Inspecting Properties With Kingsman Estates
- Step 4- Price Negotiation And Determining The Payment Conditions
- Step 5-Placing A Holding Deposit In Order To Secure The Property
- Step 6-Signing The Sales Contract And Beginning The Sales Process
- Step 7- Receiving Your Title Deed(TAPU) Of Your Turkish Property
- Step 8- CONGRATULATIONS! ENJOY YOUR NEW HOME IN TURKEY
This blog post is on the steps that are required to buy property in Turkey. We have divided the process into indigestible parts so our clients can familiarize themselves and have a sense of control as they are prepared to buy property in Turkey.
This guide has been prepared with the cooperation of our legal and sales team who have combined experience in the Turkish property market for over 150 years. Buying property in your home country can already be a daunting task for many due to the legal and financial processes involved during the purchase process. Buying a home in Turkey as an international investor is even a bigger decision with many unknowns.
If you are thinking of buying property in Antalya or buying property in Istanbul, please read this post carefully to familiarize yourself with the process. If you have any questions or would like to get more information please start a live chat on the lower right-hand side of our website and our dedicated team at Kingsman Estates investor centre will be more than happy to help you with all your questions and needs.
As Kingsman Estates we are professional estate agents with a focus on helping international investors to purchase property in Turkey. We represent our clients during the entire sales process from start to finish including organising the legal documents including applying for Turkish residency permits and Turkish citizenships. Once the purchase process has been completed plenty of our clients also make use of our vast range of after-sale services such as furniture shopping, utility registration and property management.
Foreigners can easily find themselves in a maze with all the legal differences of Turkish property law, language barriers and lack of intellectual gamesmanship of the Turkish property market which makes them susceptible for people who portray themselves as estate agents to exploit them. Here is where we come in to help you secure your dream home in Turkey. We can not stress enough the importance of using a professional government licenced estate agent like Kingsman Estates in order to avoid getting scammed thus losing money and time.
Our difference comes from the way we take commissions. Turkish property market dynamics are custom to agent fees being %2 from the buyer and %2 from the seller.
At Kingsman Estates we do not take commissions from the sellers to fully be on your side and represent you. This allows us to vigorously negotiate prices between you and the seller as we have no commission expectations or business interest from the sellers. Our commission price is %3 from the buyer.
Our teams combined experience in the Turkish property markets over 150 years have taught us many lessons which allows us to provide dedicated luxury service to non-Turkish investors to purchase property in Turkey with mitigated risk and %100 satisfaction guarantee.
Step 1- Deciding On Your Needs And Researching Your Turkish Property
At this stage, you will have to make a few decisions regarding what it is exactly you are looking to purchase and where. The Turkish property market is huge with thousands of projects are being constructed and tens of thousands of homes being sold every month.
We are a boutique company concentrating on the Antalya market including its provinces like Belek, Fethiye and Kalkan. Our estate agents have in the past dealt with thousands of transactions thus becoming the bastions of the Antalya property market.
Please do not hesitate to contact us if you are unsure what it is exactly you are looking for. We can help you decide between lovely villas or profitable investment flats that are under construction.
Kingsman Estates internal ethics command our estate agents and analysts to always give impartial and balanced advice to all our customers. You can find a detailed analysis of the Turkish economy, regions of Antalya and news about the Turkish property market.
Step 2- Communicate with Kingsman Estates
At Kingsman Estates our number one priority is understanding your required property type and budget and matching that to our great portfolio of properties. Unless this equation is secured, your purchase is a success with %100 satisfaction is unrealistic.
At Kingsman Estates, we have absolutely no patience and allowance of failures and unsatisfied customers. Please do not hesitate to contact so we can get to know each other. There is absolutely no pressure in taking a certain time with us to decide.
Some customers know exactly what they are looking for and some do not. That is why we love to take as long as it needs as some of our customers finalize their purchase process in 1 week and some take months or years to decide.
We have no interest in making pushy sales pitches and manipulating our customers to make quick decisions as the Turkish property market is faced paced and we sell our properties with no problems.
Once have understood your requirements we will start scoping the market and gathering potential opportunities while you are looking for your flights to Turkey for a home inspection.
Step 3- Book Your Flight To Turkey And Start Inspecting Properties With Kingsman Estates
It is essential to know what you are getting into when buying property away from your home country. The best way to achieve this is by visiting Turkey and experiencing Turkish life itself. You should go on a sightseeing tour, try Turkish cuisine and make sure it feels right for you. We all know the feeling you get when you walk into a neighbour and it just clicks.
At Kingsman Estates we deal with plenty of customers who are solely purchasing a property in Turkey for investment purposes but we are also keen providers of a new lifestyle to our customers who want to move to Turkey or visit and enjoy the Turkish way of life in their own property.
Unfortunately, we will not allow a sale to go through unless you or your representative has seen the property with your own eyes as we do not want to risk our customers unsatisfied with the property afterwards.
Although we will not go ahead with the sale unless you or your representative have seen the property, we are able to do a live video call from the house with the seller being available at present allowing you to ask any questions that you might have. This is the only way we can go ahead to the next step.
Step 4- Price Negotiation And Determining The Payment Conditions
Once we have decided to go forward with a property you like, we will then start negotiating with the seller on your behalf. We will keep you updated at every turn to make sure you are aware of the process and the negotiations are done with your awareness.
Through our firm, licenced estate agents have developed fantastic relationships within the real estate market in Turkey and this allows us to get fantastic deals and discounts that would normally not be available if a single person or you as a foreign investor was doing it on their own.
We will always be frank and about the costs that occur when purchasing a property in Turkey. Additional costs that occur when buying property is much lower when compared to European markets. But please be aware that there will be additional costs like taxes and stamp duty.
To find out more about the costs of purchasing a property in Turkey click here.
Step 5-Placing A Holding Deposit In Order To Secure The Property
Once we have decided on your dream home in Turkey, we will then start preparing for your documents and other legal requirements. The Turkish property market is extremely fast-paced and we only sell real estate that has high performance.
So in order to miss out on the purchase and end up being disappointed, you must place a holding deposit of $2500 which will then be sent to the seller and it will contribute towards the total sale price of the property.
Please be aware that once the payment has been made and the property is off the market, you will not be able to get a refund on your deposit if you change your mind later on.
During this step, we will also double-check that the property you have shown is the one on the title deed and it does not have any legal action or debt against it.
Step 6-Signing The Sales Contract And Beginning The Sales Process
At this stage, you are ready to sign the sales contract. You will sign a contract that is written in Turkish with translation in your own language attached to it.
Once the contract is signed we will go ahead to get your Turkish Tax Number which is used to identify you as a citizen and used in all sorts of areas within Turkish society.
This will be followed by opening a Turkish bank account which will allow you to send or receive money in Turkey as well as paying for your property and signing for the utility bills.
Please be aware that you will need a copy of your passport as well as address proof from your home country translated into Turkish.
This can be a utility bill that should include your address and full name on it. You may also choose to give us the power of attorney if you choose not to be present in any of these stages.
Step 7- Receiving Your Title Deed(TAPU) Of Your Turkish Property
The last step is to complete the money transfer in full(unless a payment plan is agreed) including the stamp duty and other taxes to meet with the seller in the TAPU office to receive your title deed which will be registered in your name!
Step 8- CONGRATULATIONS! ENJOY YOUR NEW HOME IN TURKEY
You are finally done with the process. After this point onwards we will help you register for utility bills and to the council. For our after-sale services like furniture shopping and decorating the house, click here.