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1-) Can I get a mortgage in Turkey?
2-) Does one have to be a Turkish resident?
3-) Can I open a bank account as a non-resident?
4-) Must I employ a lawyer when buying land or property?
5-) Will I need a lawyer when buying off-plan?
6-) What taxes will I need to pay?
7-) What other expenses will there be?
1-) Can I get a mortgage in Turkey?
At the moment this is not possible although we are in negotiations with a
British bank with offices in Turkey,to find a way to provide a mortgage
service. We recommend dealing through your UK bank or broker.
2-) Does one have to be a Turkish resident?
No
3-) Can I open a bank account as a non-resident?
Yes. There are no restrictions and in fact it is mandatory.
4-) Must I employ a lawyer when buying land or property?
No. If you would feel more comfortable we can introduce you to a number
of good lawyers, for you to make your own choice. Instructing a lawyer
can sometimes be expensive; but certain properties,especially in the
outlying countryside, can have their peculiar problems. In any case we
would never recommend a property unless we had done all our own
searches etc.
5-) Will I need a lawyer when buying off-plan?
We will draw up a contract for you to sign. Be sure that it will be very much
in both parties interest. Nevertheless, for your own piece of mind,
instructing a lawyer is a good move.
6-) What taxes will I need to pay?
a) Property Tax - 3% of declared value of property
b) Tapu Fee - 4.8% of declared value
c) Earthquake Tax - about GBP 30 + minimal documentation expenses.
7-) What other expenses will there be?
Excluding lawyers fees,which you will negotiate independantly,there are
Notary and Interpreter fees to pay. In total about GBP250
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