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Re: How do I know the deeds are real? Please help flying tomorrow
The purchase contract should be translated into English by an authorised translator.
The turkish and english versions of the contract must then be notarised and signed in the prescence of an official noter. This will ensure that the documents are fully legal and binding.
If you do not have a Turkish solicitor I thoroughly recommend you appoint one before ANY signatures.
I operate an Agency in Kusadasi and can highly recommend Fahri Öner who is based in the centre of Kusadasi near Dis Bank.
Unlike the UK, it is not compulsory to hire a solicitor for a property purchase in Turkey. However, you are in a foreign country and since there are many steps to buying a property (some are very important), the wise purchaser will consult a solicitor who can provide unbias legal and financial advice about all issues and aspects of the property you are purchasing.
In addition, solicitors are privileged professionals to request any information on the following:
Property official records at TAPU offices,
Company registration records at Chambers of Commerce,
Financial viability of a company, and
How to find out who owns a property.
Things to double check against the property and professionals advising you
The TAPU really belongs to the property you are interested in (If the selling party says that since the cadastral work has not been finished yet, he currently cannot show you a TAPU (title deeds), walk away and give up buying that property).
The property really belongs to the person who introduced himself to you as the ‘owner’ (Compare the ID card (kimlik) of the person to the TAPU of the property).
The property is in joint ownership (if so, whether all of the parties comply with the sale).
No annotation prohibiting the sale/purchase of the property appears on the TAPU (Unless the prerequisites envisaged by the annotation are met, the sale is impossible).
The Official Public Works and Construction Plans (Imar Plani) allow you to erect a building on the land (if it is land that you are buying and you want to construct a property on it).
The building complies with all regulations such as earthquake-proof standards and all licenses and official permits for the property have been obtained.
The current owner(s) owes no over-due taxes to the Tax Office.
The current owner(s) owes no over-due debts to the utility companies.
The agent you are using, if any, works for a registered company.
The solicitor you are using, if any, is an authorised solicitor.
If a tenant is using the property check whether a binding agreement is in force and the terms of any agreement.
Preparing a draft contract
Although these contracts are not compulsory according to current Turkish regulations and mutual declaration of both the buyer and seller to the TAPU (Title Deeds) Registry Office is enough to carry out the transfer of ownership, having a robust sales & acquisition contract will allow you to protect yourself from some potential risks which may stem from the seller or agents at a later date.
If you are using a estate agent and/or solicitor, ensure that the contract refers to them by name and they also sign the contract.
Any contract should, at the very least, include the following:
A detailed description of the property including address, all TAPU details etc.,
The actual price to be paid to the seller for the property (Note that when the contract includes any “price” clause, then both you and the seller are to pay a Stamp Duty of 0.75% of the value stated in it. If no value is stated, then you will pay only notary fee. However, mentioning the actual price will allow you to secure your rights in case of a future legal dispute),
The details of the bank account of the seller (It should be a single account into which all payments to the seller will be made),
The details of the bank account of the professional you are using, if any (you should use a single account for all payments to be made to this professional),
The payment terms and conditions (payments to the seller including deposit, interim and final payments, and payments to an agent/solicitor, if any, should be separately identified),
A statement emphasising that the seller and the buyer will pay their own tax liabilities (some sellers may try to force you to pay all taxes including theirs with regards to the sale of the property and this is completely illegal and unfair),
The fees and commissions to be paid to the solicitor or agent.
Under what conditions if any, and how the money paid by the buyer will be refunded by the seller,
Force majeure conditions (For example, what if legal obstacles prevent the sale),
How current tenants, if any, will be handled,
How over-due debts of the current owner, which are property-related, will be treated,
How furniture, if any, will be handled
Whether parties can give up the sale/purchase, if so, under what conditions this can happen,
How to keep the parties regularly informed about the on-going transactions,
How a power of attorney, if any, will be cancelled or amended, how other parties will be kept informed about this,
Detailed contact information of all the signature holders,
What if one of the parties breaches the promises written down, who will decide under what conditions that a breach was realised,
How any future disputes will be remedied, and by whom,
The rights and responsibilities of the persons whose signatures appear on the contract,
ID numbers of Turkish nationals (TC Kimlik No) who are to sign the contract, the Barr registry number of the solicitor being used and the trade registry number of the estate agency company.
If you contact me when you are in Kusadasi I will help you through the purchase.
The Solicitor is in the next block of offices from my office.
He can be contacted by email fax or by landline.
Private mail me for details ok
Merv!
Last edited by merlin : 8th November 2005 at 10:20.
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