Turkey is a country that seems to have it all, a great climate, great people, and rich history. Ranked as the top emerging country in the world, Turkey is also a leading real estate destination. The country comes with some of Europe’s most attractive real estate prices.
Apart from that, in this country, it takes only a few days to become a property owner, even if you are a foreigner. The property buying process in Turkey is straightforward. To ensure that you buy your property in the country within a few days, these are the proper steps to follow:
The Process Of Buying A Home In Turkey
1. Get your Turkish tax identification number
If you are buying a house in Turkey, you will need to get your tax number. This is a number that all foreign residents of Turkey are given. This helps to facilitate various transactions using their names.
2. Get a bank account
You will need a local bank account in Turkey to become a homeowner. Turkish banks help you domicile your cash in the country and make real estate purchases very fast and simple. The process of getting a local bank account is straightforward — all you need is a tax number and a passport.
You can open a bank account using the Turkish Lira, dollars, or Euros as the main currency. Available banks in Turkey that you can use for this include HSBC Bank, Turkiye Is Bankasi, Garanti Bankasi, Ziraat Bankasi, Akbank, and so on.
3. Sign the property purchase contract
You must sign a contract between you (the buyer) and the real estate company. This is a buying contract that comes with a few written items in Turkish and English language. Both parties (the company and the buyer) will have to sign the contract. After signing this contract, the buyer must pay the seller the reservation fee.
This fee is between 1000 and 2000 Euros and is used as a guarantee that the company will not sell the exact property to another buyer. As soon as the contract is signed, the buyer pays the company the whole money for the property. This payment initiates the process of obtaining a TAPU for the buyer.
4. Owning a transfer certificate
To commence the process of owning a TAPU (a document certifying the right ownership of a property), the property buyer will have to present some important documents. This includes a passport copy, two passport photographs, and their tax number. These documents will have to be presented by all owners of the property whose names are written in the TAPU.
5. Using an attorney
Using an attorney in the property purchase process will help make the entire purchasing process proceed smoothly. An attorney is empowered to perform certain functions in this area. The attorney can also help you sign up for the TAPU if you are not available.
6. Check the property
The purchasing process should be completed in just four weeks as soon as all the contracts are signed. During this time, your attorney will have to check every necessary detail of the property.
7. Get your title deed (the TAPU)
In Turkey, the final stage to buying your home is registering your title deed or TAPU. As soon as the paperwork has been secured and the two sides of the contract have fulfilled their obligations, the house will be registered in the name of the buyer. They (the buyer) will then get the title deed of their new Turkish home.