When you first think of buying a property in a foreign country it may appear daunting, that’s why you would use the services of a reputable agent and a solicitor to alleviate any concerns you may have. A good agent will only work with trusted developers and they will ensure all the paperwork is in order. It still flabbergasts me that some buyers don’t use agents or solicitors they take advice from people they meet in bars and restaurants – usually this never has a happy ending!
Turkey is an ideal country to invest in, the economy is thriving and property prices offer amazing value for money:
Apartments start at less than £35,000 for 2 bedrooms on a complex. If you want something bigger opt for a 3 bedroom duplex for around £47,000 and a 3 bedroom semi detached villa is less that £70,000 and if you want the ultimate luxury villa – we have plenty of those too!
Which agent do you choose?
If possible ask others who have bought in Turkey, good agents will have testimonials from satisfied clients. Research on the internet and look for recommendations. How long has the agent been in business for? What is the quality of their properties like? It’s important to talk to the agent on the phone and build up a relationship so they get to know you and what you want in a property. For example someone who wants a holiday home will have different criteria from someone wanting a permanent residence and they will ask you 3 key questions:
Which area do you want?
What is your budget?
When do you plan to visit to view?
Once the agent has that information they can set about putting together a property portfolio for you to view.
Which area do you want to buy in?
The chances are you have visited Turkey several times already and found the ideal location for you. If you don’t know Turkey we can guide you and ask you what are you looking for in an area? and send you the relevant area guides. The favourite areas for Brits are Altinkum, Bodrum, Fethiye and Kusadasi, think about what landscape you are looking for, beach, mountains, countryside or city, what about the climate? The Mediterranean coast is hotter and more humid than the Aegean coast for example.
Visit Turkey to view property
We always advise investors to view first, it’s important to visit the area and see if you can see yourself holidaying there, this is an important investment and this property will be your home away from home so it is imperative to get it right. The agent will have several properties for you to view and maybe a couple over budget. This is because you can make a reasonable offer on a property.
Making an offer
Once you have seen the perfect property and we have negotiated the best possible price for you, you will need to put down a deposit to secure it. It is usually around 5000 Euros and is non-refundable. Then you pay a 1st stage payment, a second stage payment and the final payment is when you receive your Title Deeds called a Tapu in Turkey. It is possible you want to pay cash straight away so this is flexible.
Engage the services of a solicitor
We strongly advise you do this, you would in the UK so why not in Turkey? If you give POA they can act on your behalf as the sale goes through. We can recommend a trusted solicitor for you but if you wish to find your own solicitor that is your choice.
Solicitor to carry out checks
After all necessary contracts are signed the solicitor will make all the checks they need to make for your property and the process should take around 4 weeks.
This is now the final step and after all the paperwork has been submitted for both the seller and buyer its time to register the Tapu in your name making the property legally yours.
If you are a cash buyer it puts you an excellent position to negotiate an offer, if the seller is in a rush to sell you could get a great deal. If you need finance we can help you get the best possible rates due to our close working relationship with the Turkish Banks.
You now have a wonderful holiday home or permanent residence in the glorious Turkish sunshine – make the most of it and enjoy it!