Necessary papers when buying a property in Turkey
When you decide to buy a property in Turkey, there are many details and information that you should know, the most important of which are the required papers or documents.
In this article, you will learn about all the documents that you must prepare when buying real estate in Turkey.
The documents needed to buy a property in Turkey:
Through the following paragraph, you can view all the papers and documents that you must have when you want to buy and own real estate in Turkey.
First: The buyer's passport must be brought after it has been translated into Turkish and then certified by the notary public.
Second: Obtaining the tax number is very easy, as it can be done by going to one of the nearby tax departments, and it will not take more than a few minutes.
You should know that you will need this number to do many official transactions, such as renewing a passport.
Third: The real estate appraisal report that is extracted from one of the parties that obtained a license from the Turkish government, and is issued within three days only and is valid for a period of three months from the date of its issuance.
The importance of this report lies in its determination of real estate prices, so that the buyer will not be a victim of real estate fraud as a result of their lack of knowledge or experience in the Turkish real estate market, where sellers can no longer manipulate prices.
Fourth: Earthquake insurance policy.
Fifthly: personal photos.
Important points when buying real estate in Turkey:
You should see all the procedures that must be adhered to when buying real estate in Turkey.
1 - All procedures must be completed and all contracts signed within an official department such as the title deed department and any document issued by others, even if the notary public is not recognized.
2 - Check the legal status of the property, as there is any problem that negatively affects its value, for example, mortgage or real estate seizure.
3 - In the event that you sign the property purchase contract and discover at a later time that there is any defect or problem, you cannot withdraw.
4 - Make sure that the specifications written in the title deed are the same as those on the ground.
5 - If you do not have a sufficient budget to pay the price of the property in full, do not give up your dream of buying a property in this country, and you can choose properties under construction, whose prices are cheaper than ready-made properties.
6 - It is important to seek help from a professional real estate company to provide you with the most important available offers and important consultations that you will need, especially if this is your first experience.
7 - You have to make sure that there are no unpaid property taxes.
8 - Ensure the quality of the property, its architectural design, and the modernity of its specifications, especially if you want to invest in real estate.
The costs of obtaining the papers required for real estate ownership in Turkey:
In order to prepare the required papers, there are some costs that you must pay, emphasizing that preparing them will not be free, and the following are the most prominent details about them.
First: The real estate appraisal document. The cost of obtaining it is about $200, as a maximum, and varies according to the property, its specifications, area and other details.
Second: An earthquake insurance policy. Also, this cost varies according to the property, its location, and the insurance company that deals with it (annually, its cost is a maximum of forty dollars).
Third: Extracting the title deed of the property, which amounts to 4% of the total property value and is paid equally between the seller and the buyer, and in some cases it is borne by the buyer in full.
Fourth: Signing the initial contract with the notary, and this is not compulsory, as the buyer can choose it or not, but many foreigners prefer to sign it in order to preserve their rights. The cost of the initial contract is about 1% of the total value of the property.
Fifth: There is also the cost of translating the papers into Turkish and having them certified by the Notre.
Among the problems of real estate ownership in Turkey:
Many investors and foreigners are afraid of facing some problems when buying a property in Turkey because they do not have any knowledge of Turkish laws, and the following are the most important problems you may face.
1 - The problem of real estate fraud:
It is one of the most important risks that real estate investors may face, and it has recently increased with the great demand for real estate purchases in Turkey, the development of social media, and people's reliance on them to find properties that suit them.
Forms of real estate fraud: (impersonating the property owner - telling the buyer that the property is suitable for obtaining Turkish citizenship - deluding the buyer that a high hard disk can be obtained when investing).
2- Change in the value of the Turkish lira:
Some investors are afraid that the change in the exchange rate of the Turkish lira against foreign currencies will make them lose money or not help them achieve high profits, but some economic analysts believe that it is a unique buying opportunity and a right timing, especially for foreigners.
3- Making the wrong choice:
You should familiarize yourself with the Turkish laws regarding the purchase of real estate by foreigners in Turkey so as not to choose incorrectly, and also you should make field tours to see the most important and prominent projects available to get an idea of the available options and prices.
Information you need to know before buying a property in Turkey we have provided to you in this article. If there are more questions, contact us to get the correct answer. And do not forget that the best real estate opportunities are constantly offered to our clients because we believe that their distinction is also our distinction.
