How to buy property in Turkey remotely?

The unique Turkey is a country that has absorbed the experience of many ancient civilizations. Favorable climate and beautiful nature are one of the main reasons why thousands of foreign tourists flock here every year.

In addition to recreation and entertainment, in the last decade, the Republic of Turkey has become one of the most promising states in terms of profitable investments in the purchase of real estate. Relatively low cost per square meter, a simple transaction procedure without risks, high quality construction are additional factors that encourage investors from Europe, the CIS and other countries to actively invest their savings in the acquisition of Turkish property.

Despite the closure of borders during the period of quarantine and pandemic, more complex rules for crossing borders between powers, the interest of foreign investors in housing in Turkey does not subside. In turn, the government, realtors and developers have maximally improved the scheme of remote purchase of real estate that existed before. Which, of course, played into the hands of both Turkish developers and buyers from abroad. Today, you can literally become the owner of an apartment in Turkey without getting up from the couch.

How to buy an apartment in Turkey online, what you should foresee in advance - you will find this and other useful information in our article.

What is online buying a home?

Buying Turkish real estate online means selecting a purchase object via video link and conducting all stages of the transaction via e-mail (including cooperation with an expert bureau, banks, tax authorities).

The advantages of buying Turkish real estate remotely

Remotely buying an apartment in Turkey is a simple and completely safe procedure if you enlist the help of specialists. Moreover, it guarantees foreign investors a number of advantages:

• You save your own time. There is no need to change the usual way of life and set aside a certain number of days for a flight and stay in Turkey for the period of choosing a property and making a deal. All issues can be resolved right from your home and at a convenient time.
• You reduce the cost of acquiring housing. There is no need to buy round-trip air tickets, pay for transfers, accommodation in apartments or hotels for the period of the transaction.
• You save on the cost per square meter. During the period of quarantine and a slight decrease in sales of housing to foreigners, many sellers have become more loyal and offer reasonable prices, discounts and bonuses.
• You receive a residence permit. Regardless of how the sale and purchase agreement was concluded, a foreigner can obtain a residence permit, legally come to Turkey at any time and live in their own home. And if you invest more than $250,000 in the purchase of a home, you can apply for fast-track citizenship.

As for buying real estate remotely, the procedure is not much different from a similar acquisition process in your presence. The main point is that on your behalf, the transaction will be carried out by a representative of a real estate agency or a construction company.

Online purchase of an apartment in Turkey takes place in several stages, and we will talk about this in more detail.

View of real estate objects

After choosing a real estate agency or a reliable developer, getting to know and voicing your wishes regarding the location, area, number of floors, budget and other characteristics, you can remotely view those individually selected for your object requests. A complete package of information about housing will be sent to your e-mail - characteristics, photos, video review. For the objects you like, the manager organizes a detailed online presentation via Skype, WhatsApp, Viber or other messengers.

A virtual tour of real estate in Turkey is held at a convenient and pre-agreed time with the buyer. During the call, you will communicate with sales managers, inspect the apartments in detail, ask all your questions and even be able to walk around the adjacent territory of the residential complex, its infrastructure, walk along the streets and to the beach. The specialist will tell you about all the features of the area, show you where the nearest shops, a market, a school, a kindergarten, a pharmacy and a clinic are located. If this is an apartment from a developer, you will be shown a turnkey property used as a showroom to see exactly what the final housing option looks like, ready for sale.

If you liked any of the demonstrated apartments, you can agree on further cooperation and book an object. Virtual viewing of real estate is absolutely free and does not oblige you to anything.

Purchase procedure

The procedure for purchasing Turkish real estate consists of the following steps:

1 – Signing a sales contract

To buy an apartment in Turkey remotely, you will need to competently approach the legal side of the transaction. In particular, discuss all the terms of the sale, agree on the method and terms of payment, obligations and rights of the parties, penalties. All agreements are specified in a bilateral (buyer/seller) or tripartite (buyer/seller
real estate agency) agreement. If the property is purchased at the construction stage, the agreement specifies the deadlines for completion of work and a fine for non-compliance with them. A document is drawn up in two languages - the buyer and the seller.

2 - Deposit

Along with the signing of the preliminary contract, the buyer gives the seller a deposit - an amount that is about 5-10% of the total cost of housing. This confirms the seriousness of your intentions and guarantees that the object will be assigned to the buyer for a specified period. If the transaction does not take place due to the fault of the investor, the deposit will not be returned to him. If the sale is canceled due to the fault of the seller, he undertakes to return to the buyer the amount paid in full.

3 - Preparation of documents for re-registration of an apartment

When buying a home remotely in Turkey, the transaction is carried out on the basis of a power of attorney issued by a lawyer of a real estate agency or a developer. You can also make a friend or acquaintance your representative. The power of attorney is taken from the Turkish consulate in your country of residence and translated into Turkish.

4 - Opening a bank account in Turkey

A bank account is required by the buyer to pay property and related taxes, and later to pay off utility bills services and other operations while in Turkey. You can open a current account both in lira and in foreign currency - US dollars, euros, British pounds. All this will be done for you in the bank by a representative by proxy.

5 - Payment for the transaction

Mutual settlement takes place on the day of submission of documents to the Cadastral Chamber for reissuing a certificate of ownership (TAPU). The money is transferred from the buyer's account to the seller's bank account.

7 - Registration / re-registration of subscribers for the provision of public services

Immediately after the acquisition of housing, the new owner is obliged to issue contracts for the supply of water and electricity in his name. These concerns, as well as the execution of the transaction, can also be taken over by representatives by proxy.

6 - Transfer of ownership

TAPU in the name of the new owner is re-registered in the Cadastral Department. This is the only authorized body that has the right to transfer ownership of real estate, where they check for encumbrances on the object, debts to the bank, and seizure of property. At the meeting, after a full mutual settlement between the parties to the transaction, a certificate of ownership of the new owner is being prepared. The document itself can be picked up in a few days.

Important information!

Due to the pandemic and quarantine restrictions, in 2020 the General Directorate of the Land Registry and Cadastre of the Republic of Turkey launched a special Web application Tapu, which allows you to carry out the entire procedure of buying and selling real estate completely online.

Nuances to consider

Remote purchase of housing in Turkey is a simple and safe procedure. However, before purchasing, pay attention to a few points that will be relevant in the face-to-face conclusion of the transaction.

Firstly, if this is an apartment in a new building, carefully study the work of the construction company, the number of successfully completed projects, the reviews of the owners about the quality of construction and accommodation. Feel free to ask all your questions to the manager, who will inform you to clarify the details. In the real estate market in Alanya, you will not find frozen projects or long-term construction - here good land plots are worth their weight in gold, so developers tend to quickly complete construction in order to start a new project. Nevertheless, it is in your interests to choose the best among the presented developers in order to be able to safely buy an apartment at the best price even at the stage of excavation.

Secondly, pay attention to the declared infrastructure and compare the costs with your capabilities. In modern residential complexes for the maintenance of infrastructure facilities (swimming pool, security, parking, gym, playground, hammam, etc.) a monthly payment or aid at is provided. The amount of the aid at will depend on the scale of the infrastructure - the larger it is, the higher the payment. Therefore, decide in advance on the amount that you are willing to pay, so that in the future it will not turn out to be an unexpected surprise for you.

And, thirdly, when buying Turkish housing remotely, do not forget to carefully check the correctness of the documentation - the correctness of the specified personal information, data about the object, etc. Of course, competent specialists who perfectly know all the legal and financial nuances of the transaction will work with you, but we still recommend making sure.

Buying property in Turkey online is an easy and reliable way to become the owner of a quality resort property. Contact Nordic Property, and we will offer you an apartment that is perfectly matched to your needs!