Type of Property

Your circumstances will determine which area is most suitable for you to buy; if you purchase a property purely for investment,with a high return required, then a villa near the beach would be an obvious choice. your property would be ideal for rental, easier to sell on and would increase in value. Personal use would depend on the individual's preference: quiet location, rural setting or maybe in the center of a residential area. Whatever your choice when buying a freehold property, the main factor to investigate is the type of sales process the property is subject to. Please note the following:

Resale Properties

This is the process we are most familiar with in Europe, a property that already has a Title Deed issued.

As a foreign investor you will need to obtain clearance from the Army Headquarters in Izmir. Elite Homes will need to submit the following on your behalf:

1. A copy of the title deed document in the seller's name.
2. A copy of your passport.
3. Four passport sized photographs of the persons who wish to buy.

This standard practice is to ensure the property is not close to a military zone. The process can take up to 6 months. After clearance the close of sale can be processed within one day.

Co-operative Sale Properties

The concept of buying into a Co-operative is normally a good one; a group of investors would come together and develop a build and allocate plots of land within the scheme to buyers. All involved would then make monthly payments to ensure the finish of the build and the installation of the amenities for completion of the development.

Unfortunately the concept of this type of scheme is open to numerous pitfalls, such as buyers not meeting their monthly payments therefore delaying the completion of the build. On occasions investors can't agree on financial and development matters and yet again the build is delayed. Needless to say Co-operative schemes have received bad press and ill - advised foreign investors have avoided this type of purchase.

Elite Homes carry out through checks on the background of any Co-operative before advertising sales of this type of property and will be able to inform our clients of monthly payments and any future extra costs. After Elite Homes have completed these checks, then the buyer should have no reason for concern.

The purchase of a property within these schemes is a little quicker as clearance is not required from the Army; they regard you as an investor not a purchaser of an actual property. When purchasing, Elite Homes will ensure the seller is the legal owner and that all the debts (monthly payments are up to date) and bills have been paid. On completion of sale you will receive legal documentation stating that you are the official shareholder of this house and plot of land. All the above takes place under the legal framework of a Legal Notary and a translator will also be necessary for you on the day to ensure you understand the terms of sale.

Title Deeds are not usually issued until the co-operative is completed and this is verified by the local town council. Until this time each individual has to continue with their monthly payments - please ensure you are aware of the date they are due to finish.