FAQ

1. How can I be sure the purchase is legally safe?

Firstly you must be clear about your budget before looking at properties. This will keep you focused and save you from a lot of unnecessary trouble and wasted time. Secondly make a detailed research of the company and the agent you are dealing with, this will benefit you later in the process since trustworthy and experienced people will be necessary when dealing with investments abroad. Last, but not least, make sure you have understood all clauses in the contract before signing. Never sign a contract that is in a foreign language you are unable understand.
2. Can I invest in more than one property?

According to a new Turkish law announced in August 2012 it is now possible to invest in more than one property as a foreigner and more countries have been added to the list of countries able to buy in Turkey.
3. Do I need insurance?

According to Turkish law everyone who buys a house in Turkey needs to have DASK which covers a percentage of damages in the event of an earthquake. This insurance needs to be ready before the title of deed procedure begins. DASK (TCIP) is a compulsory earthquake insurance provided by the Turkish Government to ensure the compensation of the material damages on dwellings caused by natural disasters.
4. How much is the conveyance tax?

This is 4 % of the property value which is stated in the Tapu Office. It is paid at one of the State Banks at the time of conveyance (the amount stated in the Tapu Office is lower than the real property value and approximately stated between 1000 - 5000 Euro)
5. How do I pay my bills?

Monthly bills can be paid automatically by establishment of a Turkish bank account.
6. How fast can I get my title deed?

Due to official formalities it takes about 1-4weeks before foreign citizens can get the title deed transferred into their name. Turkish citizens can get the title deed transferred immediately.
7. Inheritance law?

If a non-Turkish resident dies with assets in Turkey, their assets may be subject to Turkish law. Immovable property in Turkey, such as houses or villas, however, falls under Turkish law. In general 25 % is inherited by the spouse and the remaining 75 % is inherited by the children if any.
8. Which annual fees will I have to pay for?

Property Tax: 0.1% of the property value declared by the local municipality (to be paid before the end of May each year).

Insurance: This amount is approximately 85-230 € depending on your wishes and values in your property.

Complex payment: This amount is determined by the size of the complex, common areas, wishes and needs raised by residents.
9. Can I get a Turkish mortgage on my property?

It is possible to get a 60% mortgage of the property value stated by the bank. It is an easy and good alternative that we can assist you with should you require this. Contact us and request a financial overview where we will give you an estimated overview of a mortgage over short or long terms, though there is a maximum of 15 years according to the Turkish system.
10. How can I ensure my money is safe during the process?

There are many different ways to ensure your money is safe, it is all a matter of preference.

• Establishment of a Turkish bank account which you directly can transfer the amount to. This solution ensures the money stays in your name during the entire process.

• Establishment of a closed bank account in the Danish banks we co-operate with, which automatically will transfer the money as soon as the title of deed has been transfered into the name of the buyer. This solution ensures the money is in a neutral place until the title deed has been released.

Please note that the rules change from country to country, so please do not hesitate to contact us in order that we can provide you with detailed and correct information focusing on your exact situation.