BE WARNED: It's no secret
that Kalkan has a "freelance" real estate agent in nearly
every bar and shop - even taxi drivers! However, once they're made their
commission they usually disappear at this stage leaving the unfortunate
purchaser to negotiate this unfamiliar territory by themselves.
Mavi Real Estate and Property Services,
we pride ourselves on our integrity and the fact that we place
professional ethics and standards above all other considerations, and
our representatives are thoroughly familiar with every legal aspect of
purchase. We feel very strongly that once you have purchased with us
that this is the "real beginning" of the relationship, not the end.
speak fluent English. Your detailed questions and
concerns will be understood, and in turn our information and
answers will be clear and straightforward.
Please note that it is standard practice in
Turkey for the buyer and seller to each pay a
3% agent's commission
(unless otherwise agreed). These standard terms are offered by all
Turkish estate agents. Purchasing real estate from a non licensed agent
with no or lesser commission may seem attractive but is often disastrous
and costs much more in the long run.
Prior to Your Purchase
selected your ideal property, you will want to be absolutely certain of the
legalities of the process and particularly your rights in a foreign country.
This is where Mavi Real Estate and Property Services will
ensure impartial and expert assistance is given in guiding you through every
to your purchase we will explain to you
in detail all the relevant fees and taxes payable on a Turkish property, so
that you can adjust your finances accordingly. As a rough guide, you should
budget that the combined total of all these amounts will be approximately 2%
of the declared purchase price. Once you have placed a deposit on the
property, we can recommend a legal advisor, who will ensure that all the
paper work is followed correctly and that you understand fully all the
contractual obligations involved. If wished our lawyer will also conduct
a full search for your protection.
you have decided to buy your future property, it is necessary to arrange
your finances. To secure the sale you must make a minimum deposit of
5% of the total price of the property and make a sales agreement.
International money transfer takes 2 up to 5 days depending on the method
you choose. If you need the money transferred within 1 or 2 days you
can contact Western
Union (affiliated with the bank in Kalkan), the fastest
international money transfer in the world. If you plan to buy with
cash from a cash advance on a credit card, be sure to explain to your
credit card company that you will be making a large transaction while in
Turkey before you attempt to make the cash advance. Most credit card
companies will not allow abnormally high unauthorized transactions to occur
in Turkey, in an effort to guard against fraud.
the deposit is paid to the seller we can help you prepare a sale agreement
using an authorized translator as a witness and/or an English speaking
lawyer. The approximate cost of a lawyer is £300 for a sale
agreement. This fee can increase depending on additional legal
services, such as power of attorney.
can also help you open a bank account (any currency) at a local bank
either in Kalkan
should you decide to transfer money (for a deposit) before you arrive in
Kalkan or while you are here.
The entry in
the property register in Turkey is not performed by a public notary, but
by an official of the Property Registry Department (in Kaş if you are
buying a Kalkan property).
You can secure
a sale of a property at public notary (satiş vaadi seneti)
through a legally binding agreement (max. 5 year under the same
agreement) in the rare case that
the title deed transferring process may take
a long time before being transferred in your name.
By doing that you can put a hold against the
sale of the property registered at the land registry.
If the buyer
wishes to have the sale authorized by the notary he/she must pay a 0.3%
authorization fee out of the property price. It is legally compulsory for
both sides (the seller and the buyer) to be present at the entry together
with an authorized translator for the transfer of the title deed. If
the property is to be in joint names both parties must be present for
completion. This means that buyers must be in or return to Turkey.
However, it is possible to authorize another person to act in your behalf
through power of attorney. This is a very convenient and legal way
to complete your purchase while saving time and travel expenses for you.
With power of attorney we can act for you in the submission of your
passports, in the transfer of money to the seller, the payment of sales
tax (which is 4% total -
mostly by the buyer unless otherwise agreed) and
in the exchange of the Title Deed. On completion of the transfer the Title
Deed - which is called ‘Tapu’ - will be produced in your name(s) and we
can safely hold it for you until you return to Kalkan.
Ownership is only obtained at the moment that the building(s), if under
construction, has been completed and the full amount has been paid.
Property Buying Stages
Mavi Real Estate and Property Services or any independent solicitor will draw up a contract with
the buyer(s) detailing the agreed terms and conditions of the purchase.
Law Office - A
recommended Kalkan solicitor).
Mavi Real Estate and Property Services or any independent solicitor will take a copy of the
buyer’s passport and a copy of the title deed and submit them at the
zoning department and the land registry office for military clearance and
all the relating governmental departments (such as Ministry of Public
Works and the Ministry of Reconstruction and Settlement, Ministry of
Agriculture, Ministry of Forestry and Environment according to the new
real estate law). Should the buyer(s) wish to give a power of attorney
(POA) either to the agent or the solicitor at the public notary
(in case the buyer may not be present during the
deed transfer) this can be arranged within few
hours through the week days.
Mavi Real Estate and Property Services provides the documents by the local
government that the property has no outstanding
debts and was planned and built legally according to the building
regulations enforced by the local government to which the property is
registered. Those documents are submitted at the
Office prior to the title deed transfer.
application has been approved by the Land Registry Office (it takes 2-3
months for the security and property location checks to be made and
approved), then it is at this point
that the deed transfer takes place following the
payment of the real estate purchase and sale tax (stamp duty). A
translation of the buyer(s) passport must be made and signed at the public
notary. The buyer will pay half of the real estate
purchase and sale tax, which is 3% of the property declared value
determined by the local government).
solicitor or other person holding the POA
receives a copy of the new title deed, through
which the utility registrations (water, electricity, council tax as well
as earthquake insurance etc.) are made
during the absence of the property
owner(s). Otherwise the property owner(s) must be
present at the local government and the at the electric company in order
to comlete all the registrations.
and/or stages may differ depending on the type of property involved,
such as off-plan projects,
commercial property, plots of land etc. The stages
outlined above are rather applicable for completed residential properties.
However, they are the main stages that have to be followed in most
In addition to
compulsory earthquake insurance (DASK) renewed once every year and
construction insurance paid by the builder/contractor (in the cases of
construction), we advise all new property owners to arrange private
building and contents insurance. We can arrange this on your behalf
to concur with the deed transfer or completion date. Such an
insurance policy usually costs
250 - 500 GBP per year for a normal
furnished 2-3 bedroom villa. This cost can be paid in cash. You
would be required to make an inventory list of all the contents and the
value of the building to be presented to the insurance company’s agent. For further information on insurance please contact us.
You are required
to register the utilities connected to your property in your name.
You must also register your ownership of your property with the local
government for council and rubbish tax. There is also a small charge
for registering your ownership with the water and electric company.
tax is collected by the local government at the rate of 0.3% for houses
(on average about £20-30 per year) and 0.3% for developed lands
(calculated according to the value for each square meter determined by the
local government). However, new properties are 1/4 exempt from the
annual property tax for 5 years. All properties are subject to revaluation
every 5 years for tax purposes.
may be resold and the proceeds of the sale may be transferred out of
Turkey. There is no time restriction for reselling property after
having bought - once registered in your name you can immediately resell
Rental income is liable for tax assessment
in Turkey. This will be enforced by the Ministry of Finance and
Revenue Administration from 2006 and onwards. Please see