Tips Buying Property in Turkey

Buying Property abroad is not the same as buying a new iPhone in your country. It's totally different and needs some expertise and checkpoints

Location

First of all, you need to decide on the location. What kind of neighborhood you want to live

Want to buy in a big city or a small city

A quiet place or want to be in the city

Check all the details about the locations before you decide the city and neighborhood.

 

Budget

Please review your budget before you make an offer to the seller. When you find your dream summer home in Turkey, usually people stretch their budget however it can affect your economy for the future. Before you make an offer to the seller set your maximum budget for the apartment in Turkey.

If you are buying a new build property you should consider furnishing cost too. Furnishing cost about €4K for 2 bedroom apartments in Turkey

 

Size

Please consider why are you buying an apartment in Turkey? for a holiday to use a few weeks during your summer holiday or permanent living. Most of the foreigner are buying for a holiday home in Turkey. So you don't need a big home as you are not living permanently. If you are a small family who wants to buy a holiday home you don't need more then 2 bedrooms.

 

Choosing Real estate agency

When you are expats you need a real estate agency to follow all your procedures in Turkey. Try to find a trusted real estate agencies which have good references.

 

Hunting Turkish Property and Price comparison

You have different tools to check the Property in Turkey and the most important one is the Internet. Please check the real estate web pages and other listing pages like sahibinden.com and emlakjet.com. when you find your dream home in Turkey, before sign a contract please check prices for the same apartments from different real estate agencies. Sometimes they can put different prices for the same apartments. Be sure you get the best possible prices.

 

Negotiating with the Seller

If you check all previous tips now you are ready to negotiate with the vendor. Please offer the seller about 10% lower price and meet about 5% lower than the beginning price.

 

Iskan ( Residential Permit)

Iskan is meaning residential permit. After the Construction finished the Municipality officers control if the building is finished according to plan and Turkish regulations and all the debt is paid to the workers. So please ask your real estate agency ıf there is valid Iskan fort he building

 

Signing the contract

Never sign a contract unless it's translated to your language. Read all the details carefully. In this contract Property details such as Plot number, apartment number and address should be written. The title deed copy should be attached to the contract.

The payment plan should be written and never pay more than 5% deposit.

Estate agency commission should be written and clear; sometimes the commissions are included the price, sometimes 3% commission from buyer and seller.

 

The Deed Conveyance

When you passed all the steps now you are ready at the land registry office in Turkey. The last thing you should check is If there is any mortgage on this title deed. Please ask your translator about this case to ask the officer.

 

After you follow all these tips, everyone will be safe and happy in the end. Good luck with your new home in Turkey

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