Buy a Property in Turkey – But Don’t Get Your Fingers Burnt

Fingers

There appear to be an increasing amount of individuals wishing to obtain a property in Turkey. For quite a long period, European countries like Spain and France would be the top choice – however as such states seem to be reaching saturation point, smart men and women are looking farther afield. And Turkey is apparently always a good place to look at. It’s a breathtaking vacation destination with an amazing coastline, a nearperfect climate and ancient websites returning centuries.

The fantastic news in case you want to buy a property in Turkey is that not only can you still wind up exceptionally cheap properties, however purchasing is a reasonably simple process for most foreigners. However, just like most states, you can find matters you need to watch out for in order to avoid getting your fingers burnt. Listed below are the main ones.
You are fine if you’re from the European Union, the USA or even Russia – in the event that you are not, check whether there’s a reciprocal agreement between Turkey and your country. Moreover, you have to check that any land you wish to buy is at the bounds of a suburban area (a village or town having a population of 2,000 or even more) and is not in a military place. And do stick to those rules. Some foreign nationals who have attempted to become around them – e.g. by buying at the name of a Turkish friend – have seriously come to despair Turkish lessons.
Remember that Turkish is a very tough language for speakers of English and other European languages to master, because it goes to a completely separate language family. And English is not widely spoken in Turkey, but by people who have attended bilingual schools. You would be most unwise to approach the trade without even a dependable translator. You’ll also need a bilingual legal adviser. Instead, find a real estate company in your own country that focuses primarily on Turkish real estate.
When you’ve found a property you’re thinking about, you will need to get it checked out entirely. Get a reliable structural engineer to scrutinize it fully for structural soundness, including earthquake safety. When it is a resale property, make sure that there are no limitations on the home, and also that most bills – e.g. for electricity and water – have already been paid in full. Obtain your lawyer to look at the tapu thoroughly to make sure is in reality for that property and they’re not attempting to palm off the other on you – that was known. This concerns you in case you intend to use the property for a holiday rental business – in that case, take legal advice.
To begin the purchasing process, you and owner sign a first contract, and you begin the application for the tapu or title deed. Your lawyer will visit to all of this for you. This process takes about two weeks.
The prices you need to allow for include 3
percent
property service fee (if you use an estate representative), also Land Registry along with other fees that amount to a total of around $1,200-$1,400 USD. Remember also that earthquake insurance is compulsory in Turkey – probably just also!

The main thing of all this is that the urge to get a property in Turkey must not override good sense. It’s simple to be seduced by the beauty, history and romance of the incredible nation with its magnificent coastline and unbroken sun. But whatever you are doing, don’t be in so much of a hurry to grab your little bit, which you’re tempted to skip one of these precautions. Do things the most convenient method, and you will truly have a fantastic property that may bring you a great deal of fun – and, hopefully, profit also!

Continue Reading