Conveyance is executed in the Land Registry Office, which is a State Department. No other department, authority or person has the power to transfer deeds to your name. The new owner of a property receives a "Title deed" (Tapu) in Turkish. Tapu is the official document proving ownership of a property.
Step by Step Guide to Formalities
When you have decided to buy a property, you can start with opening a bank account. (our staff will be pleased to help you open a bank account at a local bank).
The buyer gives "power of attorney" to our staff, authorising them to carry out all the formalities for the purchase and to give the buyer post purchase services. Power of attorney usually includes authorisation to buy/register the property in the name of the buyer, to obtain "completion report" for the property, official registration of water and electricity meters, for the property, registration of property in the municipality department, payment of local taxes, etc...
The property owner and the buyer sign a "Promise to sell and buy contract" before a Notary Public in most cases. This is an official document stating all the personal data of the seller and the buyer as well as the property in question. The price of the property, details of the payment and the time of conveyance at the Land Registry Office are all entered in this document. This document is signed by both parties in the presence of a Certified Translator appointed by the Notary Public. The Sworn translator translates the contract to the foreign party.
An application is made to the Land Registry Office to start procedures for Military permission (this process may take a couple of months).
Parties or their legal representatives go in person to the Land Registry Office for conveyance upon receipt of the military permission. A Certified Translator is required when one of the parties is a foreign national.
Other Expences
Conveyancing
Conveyance tax:
3% of the property value stated in the Tapu Office. This is paid at one of the State Banks at the time of conveyance (the amount stated in the Tapu Office is lower than the real property value and approximately between 200-500 Euro).
Fee for certified translator at the Tapu Office:
50 Euro (A certified translator is required by law to translate the document to the foreign national).
Fee for certified translator at Notary Public:
30 Euro.
Registration Fee at the Tapu Office:
25 Euro.
Giving Power of Attorney:
Approx. 100 Euro
Signing "promise to buy and sell contract" at Notary Public Office:
Starting from 350 Euro, approx. 3 % of the value of the TAPU.
Obtaining "Completion Report" (Newly built properties only):
Starting from 350 Euro, depending on the size and the location.
Annually
Property tax:
0,1% of the property value declared by the local municipality (to be paid before the end of May each year).
Electricity
New connection of electricity meter:
Approx. 100 Euro (once only)
Name transfer of an existing connection:
Approx. 30 Euro (once only)
Energy cost per kwh:
Approx. 0,10 Euro
Water
New connection of water meter:
Approx. 60 Euro
Name transfer of an existing connection:
Approx. 30 Euro
Water cost per m3:
Approx. 0,75 Euro
Land Line
P.S.: You can only get a land line telephone regiterered if you have residence permit
Telephone connection:
Approx. 4 Euro
Cost per unit:
Approx. 0.036 Euro
Monthly rental:
Approx. 3.66 Euro
Unit period (province):
60 Seconds
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