Turkish Passport by Investment

Turkish Passport by Investment

What Is The Most Effective Way To Purchase A Home In Turkey?

Buying a home in Turkey is no more difficult than buying a home in the United Kingdom or any other European Union country. Your transaction should go well if you chose a credible English-speaking lawyer to represent you from the start. Here’s a diagram showing the steps involved in Turkish Passport by Investment.

1. A deposit is required to secure a reservation.

A reservation amount of between EUR2000 and EUR3000 is required to get started. This takes the property off the market and sets a limit on its price.

2. selecting an outside lawyer who isn’t connected to the company

The best way to go is to have a lawyer suggested to you by a friend. If this is not possible, the Service Group can refer you to an independent attorney.

3. Sign a Power of Attorney with your lawyer.

You can delegate a certain amount of power of attorney to your lawyer. Some people prefer to stay in Turkey for the whole of the process, while others prefer to leave everything to their lawyers. A power of attorney can be used for any of the following:

The contract for a private purchase is signed.

setting up a bank account

Obtaining water, electricity, and a telephone

Purchasing the property and transferring the deeds to your name

The power of attorney is awarded by the Turkish Notary Public. Passports are translated into Turkish for this reason. All documents are translated into English by an official Oath-sworn translator, just as they are in Turkish.

If the client is unable to do so in Turkey, the lawyer may provide the power of attorney via mail. This document must be signed in front of a notary or solicitor in the client’s native country. Before being delivered to Turkey to be translated into Turkish again, it must be stamped at the commonwealth office.

4. The title deed and the building permission must be verified.

The checks that must be carried out are as follows:

The title deeds to the land and property must be clear of debts and any encumbrances.

It must be a freehold property that a foreigner can purchase.

The current ownership of the property must be verified at the land registration office.

The method Object () [native code] must obtain the relevant planning clearances and licenses.

5. Private Purchase Agreement

The lawyer will draught a contract between the buyer and the seller/builder if the title deeds are in good order. This contract provides all of the property’s details, such as the delivery date, technical specifications, payment terms, and any property modifications that must be made.

This draught is written in both English and Turkish and sent to you via email. The lawyer will provide his or her consent for the contract to be signed if the terms and conditions are acceptable. Changes can be made until both parties are happy.

6. You must pay the first instalment.

The first payment is sent from this account to the vendor’s/account builders on the day of contract signing if clients already have a bank account in Turkey or have given their lawyer power of attorney to open one.

If no Turkish account has been opened, the initial instalment must be transferred to the lawyer’s Clients’ Account rather than directly to the vendor. On the day of the contract signing, it will be sent to the vendor.

This method of payment can be used for all subsequent stage payments until the project is completed.

7. Military approval

To guarantee that your home is not in a restricted zone, your lawyer will need to send details of the sale to the Turkish government’s military approval.

The Council of Ministers determines which zones must be maintained. Lands may be strategically important in agriculture, energy, history, wildlife protection, mining, culture, or national security. Foreign nationals will be barred from purchasing property in designated conservation areas.

8. A surveyor who is objective

You can engage an independent surveyor for a full report on the property you’re buying for between EUR150 and EUR300 after the second payment. After receiving a positive report, you can safely proceed with your payments.

9. Transfer of Title Deed

Once military approval has been received and the total sum has been paid, the title deed transfer takes place at the Property Registry Department. At the signing, both the buyer (or legal representative) and the vendor/builder must be present, following which the title deed will be transferred to your name.

By Master James

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

No widgets found. Go to Widget page and add the widget in Offcanvas Sidebar Widget Area.