Buying and Selling
Before you make a final decision to purchase a Kalkan property, allow us to guide you through the process from start to finish.
Dos and Don’ts
Beware when shopping around, there are many people who will claim to offer you a better deal than a qualified real estate agency. If you think you are being offered something that is too good to be true, then it probably is!
· Don’t buy from anyone who is not a qualified real estate agent.
· Don’t buy from anyone who cannot provide references.
· Don’t buy from anyone who pressures you into leaving a deposit there and then.
· Don’t buy from anyone who does not provide you with a written contract or sale agreement.
· Don’t buy from anyone until you know the full costs involved.
The Process
First things first, buying property in Kalkan is a simpler, more straight forward process than buying property in the UK. The major difference is that in Turkey, there is no legal requirement to use a solicitor when buying property. Your estate agent can handle the sale from start to finish. But the choice is yours, and for your peace of mind, we are happy to recommend a solicitor in Kalkan and will always advise you to seek independent advice before any purchase. If afterwards you are happy for Turquoise to handle the sale without a solicitor, our fee will include this process. Solicitor fees in Kalkan range from approximately £500 dependent upon your needs.
Sales Agreement and Deposit
Once you’ve decided to buy a Kalkan property and the seller has agreed to your offer, we’ll draw up a sales agreement contract between you, the seller and Turquoise. It will detail all the particulars of the sale, the deposit to be paid (which is usually around 10%) together with any other fees. We promise there’ll be no hidden costs to surprise you, and you’ll know exactly what you’ll need to pay before we commence the sale. Once the contract has been signed by all parties, a non-refundable deposit is payable by return and each party will have a copy of the contract. If you choose to use a solicitor to proceed with the sale, this contract will form the basis upon which he will proceed.
Documentation and Military Check
Once the contract has been signed, we will need to submit the following information/documentation for a military check, and also to various government bodies as required:
· A photocopy of the buyer(s) passport (as this needs to be officially translated at the Notary’s office in Kas)
· Passport sized photos for each buyer
· A photocopy (if we do not already hold one on file) of the Tapu -title deeds for the property in question
The military check is to ensure that the Kalkan property you are purchasing is not in a zone restricted to foreigners. Although all Turquoise’s properties are in non-restricted zones, a new military application still has to be made each time the property is sold. This process normally takes around 3 days, after which the sale can be completed within a day, once the final balance has been transferred to the seller. The Tapu will then be issued in the buyer’s name and a record kept in the official documents held at the Land Registry office in Kas.
Power of Attorney
So the military application has been approved, and we’re almost there. Before the sale can be completed, both the buyer and the seller need to be present at the Land Registry office in Kas, to sign the property over. This isn’t always possible given people’s busy lives, so in the event that you cannot be present, it’s possible and common to assign Power of Attorney to either Turquoise or a solicitor of your choosing. Either will be able to complete the transaction on the buyer’s behalf.
However, the buyer DOES have to be in Kalkan to assign someone Power of Attorney in the first place. We normally recommend that this be done at the initial signing of the contract, when Turquoise or your solicitor will be able to take you to the Notary’s office in Kas to draw it up. The Power of Attorney will be specific only to completing the sale and transferring the utility bills into your name. It will become null and void once the sale transaction has been completed. You will also have an official translator present to explain the document to you which you are required to have by law.
Buying and Post-Sale Costs
In terms of buying costs, you should budget for an additional 3% on top of your purchase price. Depending on the property purchase, our service fee will range between 0% to 3% (max), which is a standard rate within Kalkan. There is also a 3% sales tax. This is normally split between the buyer and the seller, and varies depending on the property price, as valued and declared by the local Government, as well as on land registry tax.
Example Cost Breakdown:
To give you a clearer idea, here’s an example of costs involved in the typical purchase of a property in Kalkan:
Apartment purchase price £80,000
3% max. agents fee £2,400
2 % sales tax £1,200 (based on declared value of property as valued by local Government)
Land registry tax £100
Military application £110
Passport translation cost £50
Total £83,860
The cost of assigning a Power of Attorney starts from £280, and varies depending on the number of owners/buyers, and whether it’s Turquoise or a solicitor which holds it for you.
And Finally
Once the sale is completed, Turquoise or your solicitor will transfer the water, electricity and council tax into your name, which is generally paid for by the seller. You are required by law to take out earthquake insurance (DASK), which costs between £30 to £50 a year. Building and contents insurance is not compulsory but is advisable. This is generally cheaper than you would expect to pay in the UK. We are happy to obtain a quote for you.
We always advise people to make a Turkish Will upon completion of the sale. The inheritance laws in Turkey are different to those in the UK, and they do not entitle your spouse to 100% of your property, if you have children. It is important you seek legal advice in order to get a better understanding of the laws which will affect you, and to protect your loved ones. The process is very straight forward and requires a trip to the Notary office in Kas.
Any more questions? Contact Us
