Turkey is an attractive country to buy real estate, and many foreign investors have been buying property along the southern and western coasts. People can only buy property in Turkey if their home country has the reciprocal rule. This process is fairly straightforward, but there are several restrictions that foreigners must overcome.
Attorneys and Real Estate Agents
Attorneys are not necessary in this process, but consulting with one is never a bad idea. Real estate agents can also be helpful in this procedure, but are not required.
Rules, Regulations and Restrictions
Foreigners are allowed to buy real estate in Turkey so long as Turkish citizens are allowed to buy property in their country. Many countries do not have this agreement in place, so this should be researched in advance. Foreigners are only allowed to purchase real estate in places that have a population of over 2,000 registered people. They cannot buy property if it is in a military zone.
First, the buyer must settle on a property and make an offer to the seller. Upon approval of this price, the buyer and seller must sign a sales contract that outlines the sales price and the date of property transfer. The buyer should get two passport sized photos for the deed, as well as a passport photocopy.
The buyer and seller must go to the deeds office and apply for the deed documents. The buyer must put down a deposit to secure this property, and the application for the deed will be sent to the City Council, and then to the Army Office in Izmir.
Once everything clears with these bureaus, the buyer should pay the seller the remaining balance of the property price. Both the buyer and seller are required to be at the Property Registry Department to register the property to its new owner.