Property Search
STEP ONE
Once you have seen a villa/property that you would like to purchase you will need to find the deposit. This is payable to MKS by cash or bank transfer – Personal cheques are not accepted by banks here in Turkey. An initial payment of 10-20% of the property price is usually required. The exact figure will be agreed between the client and MKS at the time of purchase. When this is paid a receipt is given. The amount received is written into the contract.
You will need to have your passport with you. Two passport photographs are also required.
STEP TWO
We will then visit a local Solicitor who will prepare the purchase contact. They are there to help you. You are paying for their services so please use this time to ask any questions you may have.
The same day or the next day your papers are forwarded to the Land Registry office for all documentation relating to the purchase. Here everything is checked and then the title deeds (TAPU) are re-issued in the new owners name and forwarded back to the local Land Registration office who, in turn, contact your agent. This process usually takes 6-8 weeks.
STEP THREE
Your agent will contact you as soon as your TAPU is complete. At this time you will need to pay the final balance plus property tax.
FINAL STEP
Upon receipt of this you/we can then sign for and collect your TAPU from the Land Registration office, collect your keys - and move into your NEW VILLA.
EXAMPLE - Typical costs involved in purchase process
• A 3% of the property value tax. This is a once off payment and it is due for payment once the TAPU is received.
• The solicitor's fee. Prices start from around £200.00 pounds and will vary depending on which solicitor you choose to use.
• An approximate £100 Notaries Charge for giving us the Power of Attorney to handle the documents relating to the property in your absence.
• It is compulsory to have earthquake insurance and we recommend you take out Full insurance home and contents cover as soon as the house is registered in your name. (the cost of this varies depending on the value of the property, it's contents for the number of months it will be occupied.) Approximately £150
• The connection of Water and Electricity is then transferred into your name so the bills will come directly to your house.
This is an idea of costs for the purchase of a property of £60,000
* Property price £60,000
* Tax and Tapu £1,800
* Solicitor £200
* Notary's fee £100
* Full insurance (incl. earthquake cover) £150
* Utility Connections £500
* TOTAL £62,750
Once you have received your TAPU there are some other charges, which need to be paid. Weestimate set up costs for your property are.
* Electricity £250
* Water / Sewage £250
* Gas £50
* Rubbish removal £10
* Property Tax £120
* TOTAL £680
It is not necessary to pay anyone in Turkey to pay these bills for you when you are in the UK.
•Electric can be paid by automatic standing order once you have a bank account.
•Turkish property tax (emlak vergisi) is paid twice a year at around 0.2% of the value of the property.
•Water bills are intermittent and likewise your council tax can be paid when you visit annually.
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