IZMIR ESTATE AGENTS SOCIETY' S COMMISSION PROPORTIONS
SELLER % 3
BUYER % 3
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1. Why should I use a real estate agent ?
It has become very easy procedure to purchase a property in Turkey nevertheless it is essential that every prospective property buyer should be very careful and get advice from a specialist licensed real estate agent.
One
should not be surprised to see that the prospective buyers who did not
act carefully and chose to use intermediaries such as waiters, jewelry
& leather dealers in the cover of friendship and hospitality or
unlicensed agencies without references have been cheated and
misinformed either on the prices or the documents of the properties
they have purchased. Experiences of such generally end up with buyers
not having the Title deed registered on their names or being overly
charged. Unfortunately, stories on cases with people experiencing such
unfortunate events are often presented in the media as an entire buying
experience in Turkey which in reality is the result of the individuals
decision to purchase without using licensed real estate agents .
It
is highly recommended to use a registered and licensed Real Estate
Agents and with license and check upon the references.
2. What is the advantage of buying property in Turkey ?
In 2005, Turkey has started negotiations to become a member of E.U. and
that gives the investors to double and even triple their investment
within few years. Real estate prices are still very attractive in
comparison with E.U. countries; take your chance to make a good
investment for your future. And with the last changes in the
regulations on property ownership for foreign citizens, buying a
property is a lot simpler now and living cost is incomparably cheap
compared to the majority of European countries. The investors and
buyers who started buying properties in 2003 have been able to earn
minimum 20% per year over their capital investment.
3. How is buying procedure in Turkey ?
Please see the buying procedure at “’’ headline of our website
4. What are the extra costs of buying property in Turkey ?
Please see the costs for Buying Procedures at “’ headline of our website.
5. Do I have to appoint a solicitor to take care of all the legal procedures ?
We are taking care of all the legal and financial procedures ( checking
documents of the property, taking care of all applications, carrying
out payment transactions, etc) on your behalf and make sure that your
buying experience is easy and truly safe with no additional costs.
Should you request to hire a solicitor, we are again helping you to
hire a solicitor from the reference list of the foreign Embassies to
make your buying procedure comfortable.
This is a very subjective decision you need to make, whatever your
decision is our duty is to serve you efficiently and to provide you a
valuable support to make the buying process run smoothly.
6. What is the Real Estate Agent Service Fee?
Whenever
a property is sold, registered and licensed real estate agents are
entitled to receive 3% service fee over the actual sales price of the
property from the purchaser and the property owner separately.
This includes the following services for the Buyer:
Organization of personalized inspection trips
- Airport/Hotel transfers (at the stage of site inspection)
- Legal checks of the property documents
- Organization of contracts between Buyer and Seller
- Carry out all applications (Tapu and Cadastre Office, Army Headquarters, etc)
- Passport translations
- Notarized translations
- Register at tax Office
- Assistance in opening bank accounts
- Organization of payments on behalf of the Buyer ( only if asked by the Buyer)
- Translation at the stage of title deed takeover ( free of charge service for English speakers)
- Electricity/water membership subscriptions of the property
- Payment of yearly taxes
- Assistance for insuring your property
- One full day assistance for furnishment purchase
- Six months free of charge property management assistance
7. What is the role of the Real estate Agent ?
Despite
the system in many European countries, the Real Estate Agents in Turkey
work jointly for both the seller and the buyer and represent both
parties. The duty of the Real Estate agent is to act as an intermediary
providing a compromise between the parties and work for the benefit of
both carrying out all the legal procedures.
8. What is the title deed like ?
The
title deed is called ‘TAPU’ and all property transactions for the
foreigners is only done through Land and Registry offices of the
relevant district where the property is located.
9. How do I get electricity and water to my house?
After
you have received the Title deed of the property, our agency is taking
care of all these procedures at the local authorities. The cost for the
subscriptions is as follows:
If the property purchased is a newly built building
| Electricity subscription cost |
: 60-100 € (depending on the power level in the house) |
| Water subscription cost |
: 95 ~ 160 € approx.+ water used until title deed transfer |
If the property purchased is an old building with existing memberships
| Electricity subscription cost |
: 30 -70 € (depending on the power level in the house) |
| Water subscription cost |
: 30 € approx. |
Sample of electricity and water bills
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Sample of Electricty Bill
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Sample of Water Bill
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10. Are there any hospitals and schools in the districts ?
Since the Turkish Riviera is at the same time very popular tourism
destination, in most of the districts there are at least two fully
equipped private hospitals, one government hospital and a major
University hospital in urla iskele. In each main towns – there are at least one private
college (primary and high schools) mainly with English as primary
language and Turkish government schools and many kinder gardens. There are two big University called Ege University and 9 Eylül Unıversity in İzmir center with
major fields of study such as medicine, arts, tourism and business
administration.
11. Do I need to get a residence permit ?
With the last update in the law on the property ownership for
foreigners, due to reciprocity agreements between the countries some
nationals need to get a residence permit of minimum 6 months in order
to own a property. That is a procedure that takes 2-3 days to get the
residence permit after the necessary applications are done. For 6
months application the cost is around 250 Euro. Second Home Turkey
provides this assistance service for its clients from a nationality
necessitating a residence permit to purchase a property.
12. Can I get a telephone /ADSL line ?
In order to have a telephone or ADSL line in your property you need to
have a residence permit as outlined in question 11 and last
electricity/water invoices of the property to sign in. The
infrastructure is very good and it takes max 15 days to have the line
open after all the necessary applications are done.
13. How do I buy a vehicle registered on my name ?
To get a vehicle you bought in Turkey registered on your name, you need
first to obtain the ‘blue book’(see question 11) and then apply to the traffic
police department to get an ‘MA’ plate meaning Misafir Araç- Guest Plate.
For second hand cars, the sales transaction is only carried out through
the Notary Public, the following step is to appoint a dealer to follow
up the plate registration on your behalf.
Should you choose to import the vehicle you already have/ bought to
Turkey, then you need to pay the tax assigned by the Turkish Customs
Office for that vehicle to the local authorities. Since the import
taxes are very high, it is not recommended to bring cars from abroad.
14. Can I let my property ?
Second
Home Turkey provides you assistance on letting your property either
advertised through yourself or through our agency. That allows you earn
over your capital investment and cover the costs of your property.
Please see
How is the living cost in Turkey ?
The
living cost is extremely cheap especially in terms of food and living
in Turkey. In every district you would find weekly fresh markets with
varieties of fresh vegetables. In addition to that, the power of the
foreign currencies against Turkish currency (YTL) make the living even
more cheaper for the foreigners living in Turkey.
Some living costs in Turkey:
| Water per m3 |
: 0.58 Euro / m3 |
| Energy per kwh |
: 0.08 Euro / kwh |
| Petrol per liter |
: 1.55 Euro / liter |
| Dinner in a luxury restaurant |
: Approx. 15.00 Euro per person |
| Turkish kebap |
: Approx. 4.00 Euro per plate |
| Tomatoes |
: 0.25 Euro / kg |
| Lamb meat |
: 8 Euro / kg |
| White bread |
: 0.15 Euro / piece |
| Beer |
: 1.5 Euro / liter |
| Hair Cut |
: Approx.5.00 Euro per cut |
| House cleaning |
: 30 Euro / full day cleaning |
urla izmir
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: 1.50 Euro per person |
| Highways |
: Free of charge in the Eagen Coast |
| Parking |
: Free of charge in the majority of places |
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