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Types of Property
In general, properties in Turkey
fall into
the Freehold category.
Good quality residential buildings are
available everywhere in Turkey, with a
wide variety of building types: detached, semi-detached
and terraced houses, houses on estates, purpose-built flats, cottages and luxury
villas.
Property Prices
Real estate prices
are steadily increasing. Prices range from
less than £ 20,000 up to £1
million, depending
on the size and
condition of the property, the quality of the material used
in construction and its architectural
features, as well as environmental factors such
as
convenient location,
the local economy, availability of services,
and so on.
Estate Agents' Commissions
The buyer and seller must each pay a 3% agent's
commission. These are standard terms offered by all Turkish estate
agents.
Hiring a solicitor
In Turkish law, it is
not compulsory for the buyer
to hire a solicitor.
However, since there are several
transactions involved in buying a
property, many of
which are crucial, we strongly
advise the
buyer to consult a solicitor who can provide legal and financial advice about all
issues, including Power of
Attorney. It is Sunny
Homes' policy that all our clients, without exception, should use a
solicitor to protect their interests. You can engage your own, of
course, or we can recommend a reputable solicitor for you.
Mortgage Companies
Currently, there are no mortgage
companies in Turkey. However, we work with
Jade Mortgage Services in London,
who have many years of experience in this field, and can
give you a quotation over
the phone: 020 8240 1111
Opening a
bank account... You can open
an account in a bank
in Turkey in your own name. All you need to do this is
to obtain a tax number from
the local tax
office, which takes only few minutes, and then to submit it
with a copy of your passport to a branch
of the bank you want to use.
If you wish to open
a joint bank account, it is advisable to
check if the other
party has the right to withdraw money
from this joint account without your consent. As
there are strict banking regulations in Turkey,
no-one can withdraw money from your
account or learn the details of your bank
account unless:
• you provide the relevant person with a valid Power of Attorney,
or
• you open a joint account on which the other party has
the right to
withdraw money.
Please also note that most of the big banks in
Turkey provide internet banking services. If
you are interested in using these,
you should ask your bank to provide you with the
necessary authorisation passwords.
Buying Property
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