Below I have outlined the process of buying and the costs you can expect. Tulip Properties pride themselves on their aftersales service and can offer you a whole range of services to make the buying process and owning a holiday home as stress free as possible. Our English and Turkish aftersales team are on hand six days a week to assist with any questions or requirements. Please do not hesitate to ask.

LEGAL PROCEDURES
Buying a property in Turkey is not as complicated as you may think, although it can be time
consuming but we aim to make the process as easy as possible for you.
Foreigners are able to purchase land and property under their own names.
Once a sale has been agreed an application is made to the local land registry office to acquire the Title Deed of the property (known locally as TAPU).
A copy of your passport is sent to the Ministry of Defense for authorisation which can take from 6 to 10 weeks. Once all the checks on the property or land have been carried out and the authorisation has been returned from the Ministry of Defence the Title Deeds will be changed into your name.

WHATS INVOLVED
When you have found your new home in Turkey the procedure is simple –

• While you are in Turkey your estate agent will help you open and bank account in your
name and to take out Power of Attorney. The Power of Attorney will cost around 200TL,
this then allows the agent to collect the money from your Turkish bank account and
authority for them to complete all necessary transactions to purchase the property on
your behalf. (e.g. Transfer of Deeds and Transferring Water and Electric into your name)
Banks in Turkey are introducing strict security measures and will only allow the nominated
person to take money from your account once you have faxed the bank advising them
how much can be collected.

• You will be asked for a holding deposit which is normally around 10% of the price of the
property.

• When you return to England you will be asked to pay any outstanding deposit (this can
also depend upon the agreement made between yourselves and the seller / owner), the
rest of the payments will be listed on your contract. If you have purchased a re-sale
property you will need to transfer the remainder of the balance owed on the property
when you return to the UK.

• All Estate Agents in Turkey charge 3% commission based on the Purchase price.

• Taxes, Translation Fees and Deeds Office charges this will come to around 180TL – 220TL.

• Passport translation which is necessary costs 50TL

• Water and Electricity to be transferred into your name 350TL

• Cost of the Military Check will come to around 1300TL

You will also pay a purchase tax which is 3% of what is written on the title deeds. This is usually much lower than the actual purchase price.

Please note these figures are based on 2007 prices.
INHERITANCE LAW

There are several options available.
• If you die without leaving a will, Turkish inheritance laws will apply.
• You can leave a Will according to Turkish inheritance laws, but you will need to go to either
the Notary or a Lawyer to get this witnessed. If you do not go to the Notary ora Lawyer
then on your death the Will goes to the courts to validate your signature. This can be very
time consuming.

• If you want to leave an English style Will then you have to take it to the courts to check
they will agree to the contents.

If you have a spouse and children 25% of your estate goes to your spouse, the other 75% is divided equally between your children.
If you have a spouse and no children then 50% of your estate goes to your spouse and the other 50% is divided between any parents or brothers and sisters.

• If you have no spouse and you have children then all will be equally divided between your
children.

• If you have no spouse or children then your estate is divided between you parents or
brothers and sisters. If you have no direct family then it is divided between next family
members ie. uncles, aunties, cousins etc.

ANNUAL TAX

If you own a property you will pay 0.1% of the amount written on the title deeds. This can be paid annually or in two payments, one in May and the next payment in November. If you own land you will pay 0.3% of the amount written on the title deeds. A new built is property is exempt from annual tax for 5 years. Each property is revalued every 5 years for tax purposes.

NOTARY
A public officer licensed by the state to administer oaths, certify the authenticity of legal documents, and perform other official administrative duties.

TRANSFERRING MONEY TO TURKEY FROM THE UK
Once you have opened a bank account in Turkey this process is very simple. You will need to go to your bank in the UK and fill out the necessary forms, transferring money to Turkey does incur an administration cost, this charge will depend on your banks administration fee. You will need to supply your bank with the details of your account in Turkey. They will require –
Bank Name and Address
Account Number
Swift Code
Branch Code

Once you have transferred the money to your bank in Turkey, you will need to fax them to authorisation for your Power of Attorney to withdraw the authorised amount. The fax must contain the FULL name of your Power of Attorney. Once this fax is received the money can then be taken from your account.