Wiki | Frequently Asked Questions
Property Ownership
All properties in Turkey are “freehold”.
A title deed (TAPU) is a document that proves and protects the ownership rights of a real estate. It shows the location, size, type, and owner of a property. Learn more title deed in Turkey.
Tenant pays the maintenance fee as a customs in Turkey. However sometimes, depending on the rental agreement between the two parties, it can be included in the rental price.
It is a legal obligation to pay maintenance fee if your property is in a compound. Also, it is morally a must-do because this collected money is used for enhancing the surroundings of the property.
Financial Issues
No, there is no cost of opening a bank account in Turkey.
Unlike most other countries, transactions are much easier and less time-consuming in Turkey. You can open a bank account within an hour when you get to the bank with ready documents. Learn more about opening a bank account in Turkey.
Yes. Banks accept POA for financial transactions in Turkey. So, your proxy can withdraw money from your bank account by showing a valid power of attorney.
Yes, foreigners can use housing loans in Turkey. There is no obligation to have an account in advance. In accordance with the banking practice, the mortgage is offered with the main income currency of the loanee. For example, Europeans can get Euro credits. Before opening a bank account, they proceed by evaluating your credibility according to your declarations and opening an account immediately if positive.
Before Purchase
Yes, you can get a tax number online besides being able to get it from tax offices located in every city and its districts in Turkey.
Tax numbers do not have a validation period in Turkey. You can use your tax ID number throughout your life.
State property tax, environmental tax, and wealth tax. However, these are relatively low.
Appraisal report keeps from overpriced property sales. When one buys a property, Land Registry and Cadastre ask for SPK validated Valuation Report as a proof document that the purchase was made at the correct price. Your addressee is a direct Real Estate Appraisal Department of Land Registry and Cadastre. The process takes 3 – 6 days.
During Purchase
After paying the reservation fee, Maremont will carry out the title deed checks. A contract will be drawn up between the seller and the purchaser. This will give the details of the completion date, payment schedule, and terms & conditions. When this is signed by all parties, the deposit is paid and the application is made to Tapu and Land Registry Office. After the application, you can get title deed within 2-3 working days. You can sign a power of attorney to conclude all the necessary paperwork if your circumstances require it. Related pages: Buying Property in Turkey
If you are purchasing a property on new development, the price will be set by the developer. Regardless of agents commissions, you should still pay the same price with whoever you purchase through, whether you go direct or through a third party.
Appraisal report, passport translation at the notary public, the power of attorney if needed, 2 photos, local tax number, and bank account.
Since power of attorney is a serious decision that lets someone else act on your behalf and all documents are in the Turkish language, it is an obligation to have a sworn interpreter to translate the information on the papers for you before you sign.
After Purchase
DASK (Doğal Afet Sigortaları Kurumu) is compulsory earthquake insurance for utility subscriptions in Turkey. You can not register your property for utilities like water, electricity, and natural gas without a valid DASK in Turkey. A DASK also covers your losses after an earthquake.
Many developers offer furnishing packs. If you wish, you can buy a furnished property or we can offer a place to buy. A furniture tour for your new home is one of our free aftersale services, Read more about Furniture & Interior
Property insurance is made regarding the features of the property. Insurance companies will present their offers when you give them the necessary information about your home. They will complete the insurance purchase after your confirmation of the price. Property insurance is one of our aftersales services.