A. The process of the purchase

When buying a property in Turkey there are a few formality to go through before the property is legally yours. IEC Real Estate will assist you in every step of the way and thereby making the process easy and trouble free.

1. Step

To allow IEC Real Estate to carry out all the formalities of the purchase, you must sign a “power of attorney” authorising it to do this. The authorisation usually includes the following:

* To purchase and register the property in your name
* To officially register your property in the municipality department
* To obtain completion report for the property
* To pay local taxes
* To officially register electricity, water supply and disposal services

2. Step

IEC Real Estate assists you in opening a local bank account to make the transactions between your country and Turkey easier.

3. Step

The property owner and you go before a notary public to sign a deed “promise to sell and buy contract”. This contract is an official document stating all information about the real estate, the buyer and the seller. It also contains data about the payment and the time of conveyance.

4. Step

An application is made to the Land Registry Office in order to receive military permission. This process may take a couple of months. After having received the military permission, the parties and their legal representatives go to the Land Registry Office to carry out the final procedures.
Throughout the process a fully certified translater will attend all the legal matters and also translate any contracts required.  

B. Fees

The costs include the following:

• Certified translators
• Registration at the Title Deed Office
•  Conveyance tax: 3% of the property value  
• The costs for the Power of attorney and “Promise to buy and sell contract” at Notary Public 
•  Containing Completion Report

IEC Real Estate takes all your troubles about paying this bills away by a one-time payment. You pay one time 1000 euro, regardless of the price of your property, after which IEC Real Estate pays all costs named above. Including the conveyance tax, regardless of the price of the property.

C. Yearly fees for the owner:

Property tax:  0,1% of the property value and to be paid before end of May each year.
Costs for electricity, water and disposal services. .
Telephone: You can only get a telephone line if you have residence permit.