Buying a property in Istanbul can become tricky, especially if you do not speak the Turkish language. Here, you will come across some helpful tips that will help you conduct your research with the right property. They will also help you find your right property in Istanbul.
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How To Buy A Property In Istanbul?
When locals decide to buy a property in Istanbul, it takes them up to a few weeks from researching for the property to finalizing it. This task can also be accomplished in a short amount of time. However, it is recommended that you give yourself at least three to six months to find the best investment and the ideal property for yourself.
Preparing Yourselves
Suppose you wish to buy an apartment in Istanbul. In that case, you will come across many real estate projects suitable for every price bracket. Along with this, many new projects are coming up in popular neighbourhoods and districts. There are also renewed buildings for sale which have apartments and houses available at very affordable prices. Wait, the 40% devaluation of the Turkish Lira against most foreign currencies has made it a fantastic opportunity for investors to buy real estate in Istanbul.
Best Places To Live.
If you wish for the urban city life, vibrant steeds, enjoy the lively nights, have your location within walking distance from all significant facilities as well as transportation, you should check out the regions like Sariyer, Maltepe, Fatih, Bakirkoy, Bostanci, Yesilkoy, Atasehir, Suadiye, etc.
How To Buy A Property In Istanbul?
Suppose you have found out a property for sale in Istanbul and wish to purchase it. In that case, the procedure is similar to most European countries.
- You will first have to pay a deposit when you sign the contract with the estate agent.
- The final payment will be made and then the title deeds of the house get transferred to you.
The Documents Required For Purchasing A House In Istanbul
- Your passport, along with a photocopy of the passport.
- Six passport size photos
- Bank account details of your account located in Turkey.
- Your Turkish tax number.
- A state employee along with a notary if you wish to buy the house via an estate agent.
The Contract Making Process
- Once you decide about the purchase, a purchase agreement will be made, and you will pay the deposit to the property owner or construction company.
- The amount of deposit will vary from one property to the other, but you have to pay 10% of the property price.
- Once all parties have signed and received the deposit, the agreement is binding.
- If you wish to cancel your contract, you will not get the deposit back. If the property owner or construction company withdraws the deal, then you will get the deposit back.
- Once the agreement is complete, the property owner and buyer will meet in person, and the title deed will be transferred.
- Once the contract and title deed have been signed, the property and the ownership has been transferred to you.