Anatolian Rose Homes

THE  LEGAL  PROCESS The legal process is more straightforward than in many other European countries.  However, the bureaucratic processing of your documents takes a little longer than you may be used to at home. That’s why we are here – to help you along every step of the way.  Before we advertise a property on the web we ensure that the property is legally owned and that there is a deeds title on the property. Only then do we advertise it so that it becomes available to our potential clients. The main aspects of acquiring property are as follows:- 1.    RECPRICAL AGREEMENT: There must be a recprical agreement between the government of Turkey and that of the purchaser.  This agreement exists between Turkey and E.U. countries, U.S., Russia and also with other numerous countries; 2.    The property must lie within the boundaries of a municipal area. I.e.town or village with more than 2.000 registered inhabitants; 3.    The  property does not lie within the confines of a  military zone. 4.    Ownership of the property is only obtained at the moment that the  building under concern has been completed and the full amount of the purchase price has been paid; 5.    Once the deal has been agreed on, we will draw up a contract between you and the seller, confirming the price and dates of transfer. 6.    We will then go to the tapu office (the ministry for the registration of title deeds) and hand in the official tapu registration; 7.    At this point your deposit is paid to the seller and the official papers are sent off to Ankara where checks will be carried out on both you and the property.  This process can take up to 6 months so please be patient!!!! 8.    On top of your property costs, please include the following costs when planning your budget – a)    Estate Agency Fee – 3% of the the purchase price; b)    Legal Notary Fee – approx £100.00 sterling; c)    Sworn Translator costs – approx £50.00 sterling; d)    Phototgraphs – approx £10.00; e)    Purchase Tax – approx £300.00; f)    Land Registration – approx £450 - £500.00; g)    Earthquake Insurance  - approx £50.00 Please also allow for solicitor’s costs which have risen during the past few years due to demand.  We do not recommend purchasing property without a solicitor.  Approx. cost £1.000. Please note that these prices are approximate prices and do vary! (Also because exchange rates fluctuate). ANNUAL COSTS Maintenance fees, property council tax, insurance and electricity and water costs add up to approx £1.100 sterling per annum.  Capital Gains Tax and Inheritance Tax… After obtaining the title deed, and if you decide to sell your property  you do not have to pay capital gains tax providing you have owned the property one year and you are not a company.