LEGAL PROCESS OF PURCHASE
Step
by Step
The
following information is intended to help you understand the process
and give you an indication of the obligations of overseas home
ownership.
The
official body, which represents the seller and the buyer's legal
interest's is the Land Registry Office, "TAPU." This public service
ensures the following:
1. The Title Deeds of the property are in order
2. The person selling the property is the
registered owner
3. There are no debts or charges on the property
4. Building licenses and permissions are in order
5. Terms and conditions of purchase
The
client will be provided with a list of English speaking solicitors
recommended by the local council. The clients appointed solicitor
will verify the process of purchasing a property here in Turkey
therefore, protecting the purchaser's interests.
SURVEY
Property surveys are not a legal requirement in Turkey, the client
often feels it is prudent especially in the case of older properties
for a survey to be carried out, at the client's request their
appointed solicitor can make arrangements for a survey to be done.
Please note any buildings constructed after
the year 2000 have to adhere to the recently passed Building
Regulations Law which sets strict standards in terms of type of
build, quality of materials used and health and safety features
required. This process is implemented by the Turkish Building
Standards Authority named "Yapi Denetim."
SALE
AGREED
The
following will be required:
1. A copy of the purchasers ID card/ passport.
2. Passport sized photos required of intended
persons to be shown on the Title
Deeds.
Elite
Homes advise their clients to open bank account in Turkey which will
help them to set up any future direct debits to cover the every day
running costs of their new home and to obtain a tax number a
requirement needed when opening a bank account and purchasing a
home. Of course, Elite Homes will be more than happy to assist in
this as part of our service.
BREAKDOWN COSTS
Please note before signing any contracts Elite Homes will provide a
full breakdown of all costs involved on top of the purchase price of
the property, usually estimated in and around 6%.
Example
CUSTOMER NAME:
PAUL & JANE SMITH
PROPERTY NAME: Sea Dream Villa
Price
of House
₤ 53, 000, 00
3%
Estate Agent fee
₤
1, 590, 00
18%
sales tax on Estate Agent Fees ₤ 286, 20
TOTAL
₤ 54, 876, 20
ESTIMATED ADDITIONAL COSTS
Tapu
title Deeds Tax (3% of nominated value)
₤ 550, 00
Promissory sale agreement
₤ 320, 00
Relevant transalations ₤ 220, 00
Military clearance ₤ 90, 00
Appointment of "Power of Attorney" Notary Office fee
₤
420,
00
Electric & Water connection and registration
₤
190, 00
ESTIMATED ANNUAL RUNNING COSTS
The costs shown are a guide and will vary depending on size
of your property and the area.
Build
& Contents Insurance
₤ 180, 00
Council
Tax
₤ 80, 00
Complex Maintenance payments (if applicable)
₤
300, 00
Electric & Water (metered) all year
use
₤
450, 00
The
costs of running a property in
Turkey
are much lower than in the UK and Ireland, particularly with regard
to water, electricity and rates. These figures are an average and
may vary.
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