Buying property in Turkey can bring great benefits, especially after the country has joined the European Union. If you are planning to invest in real estate, then you should keep in mind that this country is a good starting point for a good deal. You can purchase property in Mersin, Alanya, Marmaris, or Izmir, for example, and to do that, you can consult Turk.Estate agency. They can help you at every stage of the deal, including the preparation of the documents. One of the main documents that you will come across buying real estate in Turkey is TAPU. Let’s see what it is for and how you can obtain it.
TAPU – what is that
TAPU is an official confirmation that real estate in Turkey actually belongs to you. After the agreement has been signed, the agency accompanying the transaction will transfer TAPU for processing, having previously received a power of attorney from the client.
TAPU establishes and secures the legal and indisputable (including in court) ownership of the property for the rightful owner. The ownership does not imply time limits. In simple terms, such a document indisputably shows that the property passed from the seller to the buyer and the latter became its new legal owner.
If the housing, which is the subject of the transaction, was already owned by foreigners, then the TAPU registration will take from 3 to 6 days (from the moment of submitting documents for consideration to the issuance of the document itself in the name of the new owner).
The information included in TAPU
This document reflects the following data:
1. Detailed indication of the territorial location of the property.
2. Number of the site where the subject of the transaction is located.
3. Total area.
4. The cost of the inventory and the purpose of the housing unit.
5. Borders.
6. The size of the share of the total area.
7. Floor, if we are talking about a room in a multi-story building and the room number.
8. Information about the past owner and the reason for the transfer of the change of ownership.
9. The current owner.
10. The exact date of TAPU formation (coincides with the date of the transaction).
11. Signature of the head of the TAPU Department. Often the document is signed not by the boss, but by the persons authorized by him, this is a regular practice.
The cost of TAPU
The cost of TAPU largely depends on the value of the property you have purchased and can range from EUR 1,500 to 2,500. This amount includes:
1. Registration of the document itself, cadastral fee, cadastral examination, services of a sworn translator present at the transaction
2. Registration of ISKAN. This document is an analog of a technical passport of real estate.
3. 4% property tax.
4. Registration (renewal) of contracts for the supply of water, electricity, gas to the new owner of the real estate.
Real Estate in Turkey
In order to invest, there must be some certainty and Turkey will give it to you. You will be proud of your property. This country will make you feel like real estate investments are profitable. To make the process of obtaining housing units in Turkey flawless check out the Turk.Estate website and the specialists will help you deal with any questions you have.
