Buying & Selling Process

Buying

Get Organised
Be clear how you are going to buy your Turkish property will it be off-plan, at a construction stage or ready for living. The earlier in the development you buy, the more likely we can negotiate discounts and extras like furniture packs & air conditioning.

Do you plan to visit the country first before trying to find a property or will you speak to Love Turkish Property to organise an inspection trip from the UK. We have customers that locate us from both the UK & Turkey so the choice is yours. We always suggest you plan as much from the UK as possible Time flys when youre in paradise!

Money, Money, Money
Early on, think about how you are going to pay for your Turkish Property. Will you be remortgaging or downsizing your UK home, dipping into your savings or will you be taking out a UK mortgage? (Mortgages are not available in Turkey) This is important because buyers who have organised their finances early understand their limits as to what they can truly afford and dont waste their time!

If you are looking for an investment you can also enjoy then Turkey is right for you. Dont take our word for it. There are plenty of independent studies on this, so look into these for yourself.

Different countries offer different types of build qualities, processed and opportunities. Turkey has proved itself to now offer a design based on English aspirations. Many other countries do not focus so heavily on the British market. Turkeys legal system is also the most similar to the UK out of all the European countries. Turkey well on its way to EU membership which will see property prices rise dramatically.

All under one roof / our prices
Our prices include for everything connected with the property an explanation of each of these is below. You may notice that they look slightly above the market value. Thats because there are many associated costs that Estate agents fail to explain form the start.
1) 1- 3 % Purchase Tax - The buyer and the seller both pay %1.5 Property tax. 2) 2-3 % Purchase fee. 3) 0.3 % Annual Property Tax. 4) £50 per year Council Tax for rubbish collection etc. 5) £750 - £1.000 Lawyers Fee. 6) £150 for translator and notary fee. 7)£300 building insurance including earthquakes. This can vary with location. 8)£300- £400 Military clearance fee. 9)£200 - £400 water-electricity connection fee.

As a rule of thumb 6-7% of the price of the property should be made available to pay for additional charges.

Off To A Good Plan!
Off-plan properties are a popular way to buy property in Turkey particularly among investors mainly because the property can be worth up to 15% more than paid for them by the time its handed over and the final payment is made. The key to buying off plan is inspecting the build quality of existing developments from the contractor. We only deal with the biggest contractors in the area so there will always be properties available to view at different stages of build. The larger developments also offer realistic development models that are extremely accurate.

An Inspection Trip Calls
Inspection trips are a must if you are serious about buying. A great way to see, smell and feel a location or country, but remember its not a holiday, its a chance to investigate the area and to see if your lifestyle aims tie in with what Turkey has to offer. This can also be done once youve found a property you like through Love Turkish Property. 95% of clients on our inspections fall in love as soon as they enter the property. Remember make sure you know what you can afford before going, its a paradise out there, dont come home disappointed!

Title Deeds
You should be aware that title deeds are not currently available to foreign buyers. This does not restrict your ownership of the land. All our contractors hold title deeds for the properties and have permission to build and sell those properties. British people have lived happily across the Turkey without Title Deeds in their name for ages. The property you buy will be contractually yours. Dont be afraid of this situation. Once you speak to many property owners you will understand this is a temporary situation while the government create legislation to stop large foreign companies buying major plots of land and making money not taxable by Turkey. It makes sense that they want to generate wealth for their own country from the developments and not others.

Turkey also has a very low crime and money laundering rate which they are keen to protect. The sale of large plots of land encourages laundering so withdrawing the right to have named title deeds stops them while they legislate.

Language Barrier
Never sign a contract in a language you do not understand. Its so obvious, but a more frequent cause of dispute than youd ever imagine. Always insist the contract is translated into English or have your lawyer do it for you. Love Turkish Property provides this service throughout the buying process to ensure that everyone is clear to both the buyer and seller. This is one of the benefits of dealing with a joint English & Turkish partnership as opposed to being either just English or just Turkish.

Next Step
So youve been won over by what we and Turkey have to offer and you have the funds to purchase a Turkish property comfortably, youre search for your own slice of paradise can begin

See our simple process below to help you understand how Love Turkish property operates.

Youve found and visited your dream home so what next

  1. Find a property in turkey you wish to purchase, organise a meeting with your Love Turkish Property account manager to answer any unresolved questions.
  2. Choose and reserve the Turkish property of your choice.
  3. Meet with one of our UK based Turkish lawyers. The contracts will be drawn up, in both Turkish and English.
  4. You are free to take the contract to be reviewed at any stage. When you are satisfied, you will sign the contract. At this point we will assume power of attorney.
  5. We will then start the process of applying for Aegean Army clearance on your behalf. This is currently required for purchasing Turkish Property, but something that may be change as the process is under review by the Turkish government.
  6. You will then go before the notary, together with the legal translator to discuss the contract drawn up to buy your property in Turkey.
  7. ‘Power of attorney’ Will save you having to travel back to Turkey to sign legal documents, At this stage you are now really close to owning your own Turkish property, so now its just a case of waiting for the sale to go through.

Selling or renting

Renting is a great way to add extra income to your aspiring investment. You will notice that we provide rental data for most of our properties. These figures are taken from up to date sources, often based on properties in the same complex so are highly accurate.

If you are looking to sell your Turkish property please contact us directly so we can take the details of the property in Turkey you have for sale. We will then discuss putting it on the market for you. We will be able to market the property clearly as we are the only agent to hold electronic data on floor plans etc.

Call 0800 804 8844 or email: info@loveturkishproperty.co.uk