Things to consider when buying a property in Turkey
This article discusses things to consider when buying a property in Turkey; it will be necessary for all those who will soon have to conclude a purchase and sale transaction in Turkey. Here is a list of things to consider before starting the process of investing a property in Turkey.
Does my Nationality allow me to buy a property in Turkey?
A large majority of nationalities have no restrictions, but only a few. Until 2012, many foreigners were not allowed to buy property in Turkey because of reciprocal agreements. However, this law was abolished in 2012 and many nationalities can now invest in Turkish real estate.
Can I get a Citizenship through buying a property?
Existing laws allow any person owning property (ie, those whose name has been registered as a .k.a TAPU in Turkish) to apply for permanent residence. This right conferred applies not only to the person whose name appears on the title deed but also to the family composed of the wife and the children.
Will need a Lawyer?
There is no legal requirement to hire a lawyer, but as a foreigner, you are strongly advised to do so. A lawyer will charge you money, but it will be worth it. He is responsible for drafting the contract of sale, obtaining it by a notary act and checking the property to verify the debts or military restrictions. Attempting to do this process without any knowledge of the language, the law or the system is a reckless enterprise. He also takes care of the Verification of the legality of the building and its authorizations and the fact that no additional fees are due on the property. The lawyer takes care of all the necessary legal procedures, thus saving you time.
Will I need a Translator?
As a foreigner, you will need a translator, preferably a notary; he must be officially accredited and authorized, to translate all documents related to a major purchase. Since sales contracts must be translated into the language of your country of origin. When signing a title deed in the Land Registry Office, you are also legally required to use the services of a translator.
Ps: The land registry office and the notary offices have lists of translators with whom they work legally.
Should i be wary of agents?
The real estate market in Turkey has grown recently and it has grown and developed with the recent amendment of the Real Property Law which removed the law on reciprocity which allowed people around the world to buy and invest in turkey properties. This has attracted many estate agents where some last a season, others one or two years but few of them succeed. Therefore, choose a reputable agent who knows enough.
This article covers the 5 frequent questions often asked by our customers about investing in Turkish property for foreigners, but you can also contact us by phone, e-mail or by visiting one of our offices if you have further questions and would like to speak directly with a sales representative.