Buying Process – OZ ISTANBUL

The process of buying real property in Turkey

ÖZ İSTANBUL Real Estate Agency will advise you during the entire process of buying real estate in Turkey, will help to process the deal in compliance with the Turkish and international laws, act as the guarantor of legal purity of the transaction for both the buyer and the seller, check the purity of the property (to ensure that there are no mortgage or other encumbrances on the property). That is why to contract with us is to make the transaction safe and legal. We also assume all the work related to the registration of the purchase and sale transaction at the Office of Cadastre.

Step 1: Selecting real estate on Tolerance website.

On our site you will find the largest selection of high-quality Turkish real estate. You can select properties meeting your needs yourself, or you can contact one of our consultants, leaving a request for the selection of real estate. Our specialists will quickly select suitable properties and contact you.

Step 2: Arriving for a free survey tour.

Öz İstanbul provides a unique opportunity to come for a survey tour to inspect real estate with the accommodation in a luxury residential complex with a rich hotel infrastructure. Contact our managers to discuss arrival dates and accommodation. Arriving to survey properties allows you to see the apartments and villas “live”, to assess the quality of the finish, and to get acquainted with the infrastructure of the residential complex and the surrounding area.

Step 3: Transaction formalities.

Before completing transaction formalities, the selected property will be fully audited. Our experts will check the presence of all permits and registration documents, as well as the absence of encumbrances and court decisions for the property.

Typically, a purchase and sale contract is signed between a real estate agency that performs the sale of a certain property and the buyer, or a tripartite agreement between the seller of the property, the buyer and the agency may be signed. When buying property in Turkey the data on the buyer, seller, real estate agency which is the guarantor of your transaction, as well as information on the property being acquired, price of the property and terms of payment are indicated in the contract.

It is essential to emphasize that after the signing of the purchase and sale contract, you, based on it and by mutual agreement with the seller of the property, can use the purchased real estate without any limits, even if the process of registering it in your name is not yet fully completed.

Step 4: Submitting documents.

After the conclusion of the contract and performance of all the procedures required to start the processing of the real estate, the agency, under a power of attorney from the client submits his documents to the Office of Tapu and Cadastre of the city and the district where the property was acquired.

Step 5: Paying for real estate.

The payment for real estate is carried out in accordance with the signed purchase and sale agreement. A transfer through banks and private financial institutions of funds to pay the price of purchased real estate (both with foreign currency exchange, and without it), as well as of the funds received as proceeds from the sale or use of real estate, is not subject to any restrictions .

Step 6: Obtaining the title.

After the obtaining of positive responses from the relevant inspection bodies for foreign citizens and the payment of the relevant taxes and duties, the Buyer receives a master document, recording the title to the property (TAPU), confirming that the transfer of title from the seller to the new owner has been performed. TAPU, the title, means the establishment of a timeless and absolute right of ownership, which, after the conclusion of the purchase and sale contract, may not be challenged by anyone at court. One or more individuals or legal entities may be real estate owners.

What is Tapu? - Full owner of the Turkish property

TAPU is a document confirming the right of ownership to the acquired real estate in Turkey. It is this document that confirms the transaction and only after it is obtained you are recognized as the full owner of the Turkish real estate.

In Turkey, the only official state body performing and controlling the processing of paperwork for purchased real estate is the Office of Cadastre and Tapu. It is this organization that is the state guarantor of the legality and transparency of a transaction.

After the arrival of positive responses from the relevant inspection bodies for foreign citizens and the payment of the relevant taxes and duties, the Buyer receives a master document, recording the title to the property (TAPU), confirming that the transfer of title from the seller to the new owner has been performed.

TAPU, the title, means the establishment of a timeless and absolute right of ownership, which, after the conclusion of the purchase and sale contract, may not be challenged by anyone at court. One or more individuals or legal entities may be real estate owners.

What kind of data are specified in the Tapu?

Province
City
District
Settlement
Street
Locality
Number of development lot
Real estate type *
Total area of the development
Boundaries
Type of ownership
Cadastral value
Purpose of the real estate**
The share in real estate in a land lot with several owners
Block
Floor
Apartment number
Former owner and the reason for the transfer of the title***
Real estate owner
Date of the transfer of the title (registration of the Tapu)
Number in the cadastral register
The signature of the Head of the Tapu Office or a person authorized to sign on his or her behalf.

* When registering a first apartment, as a rule, ARSA (meaning land lot) is indicated here, i.e. they register the share in the plot of land allocated to the apartment specified below. If the apartment is purchased a few years after the commissioning of the house, then MESKEN (flat) may be written there. It is also possible that DUKKAN will be written there, when it comes to commercial real estate.

** KAT MULKIYETI means that the real property is fully transferred into the housing stock.

KAT IRTIFAKI means that on the basis of a building permit, the tapu for the building site was divided into a per-apartment tapu.

DEVRE MULK means that the owner buys only the right to use the real property for a short period in a year (a kind of a timeshare).

*** A reason for the transfer of title may be as follows: sale (including using a mortgage), inheritance, gift and others.

Registering and completing formalities with tapu for a foreign citizen, if there already are foreign owners in the house/complex, takes 1-3 days, depending on the workload of the Tapu Office. If you are the first foreigner, then you must first obtain the permission from the War Department in Izmir. It takes 1.5-2 months, and then you can also register tapu in a general manner.