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Hot Properties

Price: €140,000

Spain
Costa Blanca Alicante Almoradi
3 Bedroom Villa

New Home

Price: From €79,000

Turkey
Mahmutlar Antalya Alanya
2 Bedroom Apartment

Price: From £25,000

Turkey
Aydin Didim Akbuk
Plots

Turkish Mortgage Application

The mortgage process in Turkey, is very similar to the majority of many other countries, but can be, at times, slow, due to the Turkish legal and administration system.

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Military clearance

A recent revision to the Turkish real estate registration process for foreign nationals purchasing property in Turkey will cut the time it takes to obtain title deeds (TAPU) to just one day.

“Instead of each foreign buyer making a separate military application for each and every land and/or property they purchase in Turkey irrespective of where they are located, the revision looks at the essence of ‘parcel clearance’ and suggests that if a parcel has previously been cleared for a foreign buyer, then it stands to be clear for all future foreign buyers,” says Nadine Williams of Properties247.

“Simply put, it moves the clearance from the foreign buyer to the very parcel (land plot) that the property is located on.”

Effective as of 14 October 2013, no military clearance will be required for land and properties, whose parcels have previously been cleared (as explained above) after 5 May 2011. This long awaited amendment to the law regarding foreign nationals’ purchasing property will increase the appeal of Turkish real estate globally and make the market far more transparent.

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Power of attorney

Unless you understand Turkish well enough to communicate with the Land Registry officer or to Notary (in case of executing sales contract), the officers or the Notary is obliged to call upon the services of a qualified translator, because the law states that you must understand what you are purchasing. The cost of the translation services will be paid by you. Alternatively, you may wish to grant a power of attorney to a representative of your choosing, who is fully conversant in the Turkish Language. This is also useful should you not be present in Turkey for the actual purchase of your property. This enables the agent to continue with obtaining the Title Deeds in your absence.

This means you do not need to be present for any more of the property purchase transactions. And can be very helpful and timesaving.

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