Things to Consider for Foreigners Who Want to Acquire Real Estate in Turkey

There are some issues that foreigners who want to acquire real estate should pay attention to in order to prevent problems that may arise due to the fact that foreigners are not familiar with the legislation and practice in Turkey. Another important aspect of owning real estate in Turkey is; It will allow the exceptional acquisition of Turkish citizenship within the scope of Article 12 of the Turkish Citizenship Law No. 5901. In this context, it is possible for foreigners to acquire Turkish citizenship by acquiring real estate in Turkey, provided that the conditions determined under the Turkish Citizenship Law and related regulations are met.

Real estate purchase and sale transactions in Turkey are made at the Land Registry Office. Purchase and sale transactions not made at the Land Registry Office are legally invalid. For this reason, we recommend that foreigners who will buy real estate pay the sales price at the land registry office while signing the land registry. If they are going to have these transactions done by a proxy, not in person, it would be appropriate to have them done through a lawyer. To purchase real estate, a total of 4% fee will be paid, 2% for the buyer and 2% for the seller. These rates are calculated over the sale price of the real estate.

If the title deed of the real estate to be purchased cannot be obtained immediately or if the real estate is to be purchased from the project, we recommend making a real estate sales promise contract from a notary public. The real estate sales promise contract made at the notary will give the buyer the right to apply to the court and transfer the real estate to his name when the real estate deed is not given in the future. After the real estate sales promise contract is made at the notary public, it should be taken to the Land Registry Office and annotated on the title deed. The real estate promise contract has to be drawn up at the notary public, and in this case, a fee of 5.4 per thousand is charged by the notary public over the sale price.

If the title deed of the real estate to be purchased cannot be obtained immediately or if a real estate sales promise contract cannot be made in the form of a notary public, a written contract must be made between the buyer and the seller. However, with this contract; You only have the right to request a refund of the money you have given. Again, these contracts cannot be annotated in the Land Registry. Before making any payment, we recommend that you examine the title deed of the real estate to be purchased and find out if there are liens, mortgages or limited real rights on it. Apart from this, we recommend that you research the current zoning status of the real estate, whether it is in military or security zones.

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