Over the past 18 months, Kusadasi has seen a boom in property sales to foreigners. In line with this, there has been an equally
explosive growth in the number of new estate agent businesses - almost popping up daily as the new 2005 season gathers pace.
My aim here with this thread is to try and guide anyone contemplating buying a property - how to avoid the pitfalls and tragic stories that do occur from time to time, and to try to make your purchase a pleasureable experience.
Most estate agents are honest however, its important to remember that they are being paid by the person selling the property and not to protect your interests. They therefore are not in the position to give you independent advice.
I have lived in Turkey for nearly 5 years and have heard many more horror stories when it comes to house or apartment purchases - let us first look at some of the pitfalls and traps that have caused many unsuspecting buyers heartache and disappointment.
In Turkey there are many properties that have no planning permission, no title or are just illegally constructed. Unlike the UK, there are many types of "title", some of which give you only the right to occupy the land rather than complete ownership!
Co-operatives are very common in Turkey however, some co-operatives might only give you ownership of bricks and mortar where the house stands without full title to the land.
There are many areas designated Military Zones - where land or house purchase is forbidden to foreigners. Archaeological sites and historical buildings are again off limits to foreigners and unwinding a misinformed house purchase in these areas will be futile.
These are just some of the problems that can arise but do not be alarmed, it is equally possible to buy a property in Turkey with safe title and no legal problems!
How does a property purchase work?
You find the property you like.
Lawyers will arrange on your behalf to carry out all required investigations to ensure the property has good transferable title etc.
You would then sign a purchase contract and typically pay a 10% deposit
Property transfer taxes are paid, and you would sign a deed of transfer in the presence of an officer at the Land Registry. The balance of the house purchase is then required.
The Land Registry officer then records you as the official owner of the property.
Happy Hunting!
Merv!
Linear Mode
