Important points to be found in the property purchase contract in Turkey

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Many foreigners, especially Arabs, hope to own a property in Turkey, in order to obtain Turkish citizenship or residency in it or with the aim of investing in Turkey. There are many reasons and the goal in the end is to buy a house in Turkey, and here those who wish to proceed with this step must see the aspects The three legal ones will be presented in this article. With a special account for the (Our Struggle Is Easier) network, lawyer (Aqaba Barish), CEO of (Masco Consulting), explained three points that would facilitate the process of buying real estate in Turkey and prevent the buyer from falling into many mazes that he is indispensable. First: Pay attention to the points that must be provided in the sales contract: 1- The seller’s detailed information, whether it is a company or a person, this corresponds to the buyer’s information, and legal agents can act on their behalf with a notarized agency on behalf of the Turkish embassy in the country of residence of the seller or buyer. 2- Real estate price and payment method (installments, cash) 3- The existence of a title deed sheet for the property, which includes detailed information about the property: Real estate number, real estate area, apartment area, real estate land number. 4- The date of delivery, and the expected period of delivery delay, with clarification of the penal conditions in the event of a delay in delivery. 5- The dates for paying the price if it is cash or paying the installments with the penal conditions resulting from the delay in paying the monthly installments. 6- Detailed information about the materials used in construction. 7- The contract should be in the Turkish language, and copies of it can be made in other languages. The contract is notarized at the notary. 8- Paying attention to the real price of the property and mentioning it in the text of the contract to avoid problems with fines. Secondly: After documenting the contract with (the Noter), it must be installed on the title plate, and these documents are required for that: 1- Notarized sales contract. 2- Seismic insurance. 3- A tax number for the buyer and seller. 4- A bank account for payment. 5- Tapu fees of 4 percent of the property value are usually borne by the buyer, unless otherwise agreed upon. Here, a distinction must be made between two cases: A – In the event of buying a real estate and paying for it in cash, the buyer gets the title deed directly. B – In the case of buying a property by installments or buying a property under construction, the title deed is not delivered to the buyer until after the property is received. Third: Fees stipulated for the purchase of real estate: 1- When buying a property, the buyer usually pays 4% of the property value, and if the property is owned by more than one person, each person pays a percentage corresponding to the percentage of his ownership in the property. If you want to resell the property 5 years before the date of purchase, there is a tax to be paid ranging from 15 to 35% of the net profit, and in the case of selling after five years, no tax is required. 2- The annual real estate tax is paid to the municipality and is equivalent to 0.003 of the total real estate value.

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