how to buy a property in turkey
To avoid turning a blessing into a nightmare, you must know the right way to buy property in Turkey. Our real estate consultants have put out a list of the most important aspects to consider. It’s best if you follow the tips in order to achieve the most satisfying experience.
1- Define your Goals
Before venturing on to browse your options, ask yourself what you want the property for? Is it for investment? For citizenship? Or for residence? What type of neighborhood are you interested in?
These are the top 3 reasons internationals invest in property in Turkey. But if you don’t define your goals and instead begin exploring your options, you may lose your purpose. Especially in a market where many options are appealing, it’s hard to sway off your path with no anchor.
Detailing your interests and objectives will give you tunnel vision throughout the process. And likewise, you’re less likely to be disappointed by an overpriced purchase that doesn’t meet your standards.
2- Partner with a Reliable Agent
Long gone are the days where buying property solo was seen as a smart move. Contrary to past trends, many property buyers are partnering with a real estate agency for a successful purchase. Do your research so you only work with a reliable agent with a good reputation.
Agents help you explore your options in a tailored-to-you manner. You tell us your goals and we work according to them. If we find that your options aren’t matching your goals, we’ll redirect your options.
But most importantly, real estate agents are back in trend because they oversee your purchase. Our experts at Property Pluss will monitor your buying process ensuring it’s all legal.
We’ll also help you in your post-purchase process as you settle. And in case you’d like to travel abroad, we’ll manage your property in Turkey during your absence. Many of the services we provide are centered around your comfort.
3- Coming to Turkey
After finding the right real estate agency in Turkey, it’s time to arrive in the country. Upon your arrival, you’ll resume work based on the online consultation you had beforehand. We offer VIP services at Property Plus that will make your arrival in Turkey a breeze. From hotel reception to private transport, accommodation, and professional Interpretation.
4- Property Touring
After looking through videos and pictures of projects; select the projects that best suit your preference. At Al Huda we coordinate a property touring plan in a time-efficient manner moving across neighboring districts.
We provide a deluxe private car to transport you around the projects. You will be accompanied by agents who will negotiate for your interests. They’ll also let you know whether a property is overpriced or underpriced, and in general, give you transparent information:
5- Property Inspection
If you’re buying a second-hand property, you may need to run an inspection to identify all the flaws. Our team at Al Huda will help you find professional services to easily and reliably complete the process. We’ll inform you if the property is worth buying. Noting again that inspection is only necessary for second-hand property. New projects don’t require inspection.
6- Closing the Purchase
Here you’ll need to do all the legal paperwork for the purchase. At Al Huda we provide top-tier lawyers to handle your closing process. We’ll ensure your title deed is legal, your documents are proper, and that the contract includes all the important points. Generally, the buying process may take anywhere between 3 to 4 weeks to finish.
Our experts will also overlook your payment process. Explaining the down payment and defining installment options.
7- Registering your Title Deed
To conclude your purchase for good, you’ll have to register your title deed at the local tax office. Our experts will help you perform this process. Throughout your buying process, you’ll always have an interpreter by your side. Similarly with registering your title deed.
8- Opening a Bank Account & Connection Fees
As a property owner in Turkey, you will have to open a bank account. To do this you need to first obtain a tax number, but you don’t need to worry about this because our experts will handle this for you.
Next, you’ll need to pay a one-time utility deposit that’s refundable for gas, electricity, and water. Again, our experts will overlook this process and guide you until completion.
If you’re buying an old building, you will need to get earthquake insurance. Newer buildings are all developed to be earthquake resistant so this insurance isn’t necessary.