Turkey

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Property Buying Information

To purchase off plan property in Turkey an application must be submitted to the local Land Registry Office where the property or land is located. After the necessary checks have been carried out by the Office – usually taking around two to three months – a meeting is arranged which both the seller and buyer must attend to sign the entry in the property register, confirming the changing of hands – though this may prove inconvenient for some, as they may not be present in Turkey at the time of the signing over. If this is the case then the buyer can sign power of attorney over to a specified person or company, who can then sign the registry on behalf of the purchaser. Proof that the funds for the purchase have been transferred into Turkey has to be presented to the Registry Office, and three percent of the total price is levied on the buyer as a purchase tax. The usual deposit for a house or property is around 25 percent of the total cost, though it is sometimes lower. There are no stipulations attributed to foreign purchasers, and the buyer reserves the right to sell the property on as and when they wish.

 

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