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Buying a Home in Turkey Buying a home in Turkey is far less complicated as you might think. At Churchill's we will take the lead and guide you through the whole process, from start to finish. Finding the right location This is where we start …….because it’s where you start. So finding the right location is vital, we take immense care to choose places that you really want to relax in. Each town in the Bodrum region has its own style defined over hundreds of years of individual influence. We will help you discover your real dream and ensure that your holiday home fulfills your desires. Your Dream Home It’s an emotional decision as well as a personal choice; we recognize the significance of your new holiday home and take every care to ensure your ideas are as functional and practical to suit your requirements as they are to suit your dreams. At Churchill's we have one of the largest property portfolios in the region; we have a clear pricing policy with no hidden cost. “What you see is what you pay.” We prepare a legal and technical survey on all our properties to ensure there are no surprises. Legality made easy Turkish law ensures that all foreigners are vetted before allowing them to purchase property. This process is not as complicated as it sounds. Once you are happy with the property, we enter into a contract of purchase, after all terms and conditions are agreed and a deposit is left, a copy of the title deeds of the property are given to you. This whole process is governed by the Bodrum Title deeds office and overseen by your solicitor. We only require a copy of your passport and a couple of passport pictures to continue. These will be passed for vetting by the government. This normally takes about four to eight weeks to complete. On their return we invite you back to Turkey to oversee the final transaction. This will involve the transfer of any outstanding monies and once signatures are exchanged the property is legally yours. The extras Buying a holiday home is an exciting time, at Churchill's we take the load and worry about the extras which have a way of being forgotten about. We will ensure that you are registered with the local council, that your utility companies are aware of your new purchase and that your service charge is suitable for the services being provided. All in all, we look after the small things so you don’t have to. Who can buy Citizens of countries who have a reciprocity agreement with Turkey can purchase a property, which includes all countries within the EU. The only restriction is that the property cannot be on military designated land. Almost all property in Turkey is "Freehold". Mortgage / Financial Advice. There are currently no mortgages available for a foreign citizen secured on a Turkish property. Recent changes in legislation means in theory that it is possible, but the logistics makes it very difficult. Churchills are currently in discussion with several Turkish banks to resolve these issues to provide this facility to our clients. There are alternative means of funding a purchase or your property and Churchills Investments Properties have an independent financial adviser who can discuss with you the options. Please contact us further information. Tenure of Property Almost all property in Turkey is "Freehold" Legal Documents Our Associates will prepare a Contract that will detail your property, type, etc together with the price agreed, payment method and any extras or alterations you may require. This Contract Agreement is binding in Turkish Law and will be in both English and Turkish. A copy of your passport is then sent to the local military authority that run a background check to verify you are able to purchase your intended property. This process can take 8-12 weeks. After clearance by the Turkish military you can proceed to purchase your property. This is conducted in the local Land Registry Office, where both the buyer and the seller enter the details into the Registry Book. If you cannot be present for this you are able to sign power of attorney to your solicitor to act on your behalf. The property tapu will then be made out into your name. Tapu The tapu is the Turkish property deed. In the case of a new building you will receive two tapu's. The first tapu is the ARSA, which means land. This is issued first and will show the new property owners name. According to Turkish law as long as the owners name in on the ARSA tapu then they own whatever is on the land. An application must be made to the local council offices for a living licence (the second tapu - OTURMA IZN). This is done by the property vendor (i.e.. the builder), and is only issued once the building has been inspected to comply with the building application. Once this has been granted the tapu will show the words CINS TASHI that confirms the classification on the property. In the cas of re-sale property the OTURMA IZNI should have been granted, but must be checked it is shown. Maintenance Services For your peace of mind, if you are a non-resident, all our Developers and Real Estate companies offer a full maintenance service to ensure your property is kept in A 1 condition during your absence. Details of services and costs are available on request in relation to a particular property. |
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