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Buying Property in Turkey

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inografiker

Hello, could you please share your property-buying process with us? How was it? What were the difficulties during the buying process?


Thanks in advance.

Gino_C

I plan to purchase a flat or villa once I move in a few years.  So my inquiry relates to how to establish a fair value of a residence in preparation for the negotiating process.  Here in the USA, we have multiple websites which provide an extensive amount of information on property sales data such as realtor.com, zillow.com or redfin.com.  One can find out for a given property, the property attributes, a rough selling price estimate, historical selling transaction information of the property,  the asking price of similar residences in the same area, tax information, etc.  Are there resources in Turkey which offer similar information?  Generally, how reliable are real estate appraisers?  Thanks

inografiker

@Gino_C

Normally the real estate websites in Turkey show only the property price and features etc. You can browse their blogs for more deep information.

You can browse it according to blog categories or else.

For example, you can check out this blog: ***

Moderated by Cheryl 2 years ago
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amnajaffri


I bought a property from an agent (i can send u name if you want, not sure about rules here). After finalizing a place, I was told price and when I agreed, we signed a contract and I made a small deposit (like 1-2k lira)


then next day lawyers (given by agent) sent me more documents and I deposited money via bank account of the developer (from my own account).


After that agent got some documents made (i think its called TAPU). Its very important. They also verified the value in USD (for purpose of nationality). Right now it should be above $400,000 USD (this is important!! govt verification is needed)


After that, I sat back and waited (maybe filled 1-2 forms). After 4 months agent told me to visit the Turkish Consulate in my country (as I had left Istanbul by then) to visit for passport interview. Had to give fingerprints and a form. Then after 2 months I got an email from consulate that my passport is here!


I rented the place out (my agent did it). The renters did leave apartment in bad condition so I hired another company (via [link moderated]) to get my apartment repaired, repainted and renovated. They did a good job (hence I recommend them).


Now its again on rent.



Hope that helps.


Abdul Hafiz Adam

***

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pilclawturkey

Buying property requires a set of steps in Turkey.

Buying property should be considered from following areas point of view


Taxation issues,

Environmental law and relevant obligations,

The development, planning and realization of real estate investment projects,

The preparation and signature of lease agreements,

Home purchase in a foreign country including the USA and its potential outcomes for residence permit,

The acquisition of Turkish citizenship by investment,

The acquisition of residence by property purchase,

Checking clearances,

Providing due diligence.

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