Inspection Visit
An Inspection visit can be organised through Nadstar Villas. We can take care of your flights, transfers, car hire and accommodation. We will then collect you from your accommodation and take you on a guided tour of your chosen property/s.
Our representatives will be on hand to assist you in all aspects from start to finish. We do not believe in a "Hard Sell", therefore our approach is open and friendly. In some instances the builder may reimburse your accommodation expenses should you buy.
Detailed below are a few helpful links should you wish to make your own travel arrangements:-
www.airtours.co.uk
www.thomsonflights.com
www.dialaflight.co.uk
www.turkishairlines.com
Buying Off Plan
Buying off plans is a brilliant investment for those who don't mind waiting 12 to 24 months before taking possession of their property and those looking for a good profit on their property purchase.
Buying off-plan, always sounds scary. Buying off-plan means you reserve a property on a new development before the construction is completed, often before it has even started. Because of this, the prices are significantly less than a resale or new property.
As the construction begins and the development starts to take shape with a show home completed, prices start to increase substantially. Therefore buying off-plan is a popular investment. By way of an example a property costing £20,000 / €30.000 Euro off-plan will sell for £35,000 / € 50,000 once the complex is completed. Another reason of buying off-plan is, that you would pay 40% to 50% of the sales price when signing the sales contract, and the balance in monthly instalments.
Mortgage Advice
We are pleased to recommend Key Mortgage Associates to assist you in your financial planning. We do not have any links with KMA, however, we personally use their services, as have many of our past clients. A precis of their services are detailed below:
Key Mortgage Associates employ two qualified Independent Financial Advisers who specialise in advice on mortgages and the associated repayment vehicle and protection products (Life assurance ASU and buildings and contents).
Contact: John Folan
Tel: 01277 230236
email: JohnFolan@kmaltd.co.uk
Web: www.kmaltd.co.uk
We do not charge a brokerage fee for arranging a mortgage on your behalf, instead we take a fee from the mortgage lender whom we place your mortgage with.
We use a fully computerised database which allows us to source the entire mortgage market at the touch of a button, and this database is updated daily to allow access to the latest rates.
We are able to arrange finance on properties in both the United Kingdom and abroad, subject to criteria. This will allow you to use your current residential property to raise funds for purchasing property abroad.
We are authorised and regulated by the Financial Services Authority. A copy of our Initial Disclosure Document is available on request.
Furniture Packages
Nadstar Villas and our local Turkish office can offer new buyers advice and assistance In obtaining the right furniture at the right price. With our knowledge of the local shops and stores we can meet your individual requirements.
Of course, clients requirements vary considerably from one property to the next and depending on it's intended usage i.e. solely to be used by clients or as an investment property that will be rented out.
The majority of furniture is cheap in Turkey and a villa can be furnished at a very low cost.
However, should you not wish to get too involved in this process, or waste any leisure time, we do offer a number of highly competitive Furniture Packages. Please ask us for further details.
After Sales Service
We are pleased to offer, through our local agent, the following services:-
- PROPERTY CHECKS - Regular property checks in the absence of the owner.
- PROPERTY EMERGENCIES- In the event where a fault has arisen e.g. leaking roof etc we can organise the necessary trade to rectify the problem.
- REPAIR/MAINTENANCE/ALTERATIONS – We can arrange the best skilled labour available to carry out all repairs/maintenance. In addition, in the case of new building work, a warranty will also be issued. Work can also be carried out in the absence of the owner, thus maximising client utilisation of the property.
- GARDENING SERVICE
- DOMESTIC HELP - cleaning, washing, ironing.
- PRE-BOOKABLE AIRPORT TRANSFERS
- CAR HIRE
Legal Procedures
Buying a property in Turkey is far less complicated than in many European countries. The Estate Agent holds more responsibility in terms of managing the process between the buyer and seller. All Capital Estate Agency transactions are carried out within the legal framework set out by the Land Registry Authority (TAPU).
Unlike most European Countries, Legal Representation is not required when buying or selling a property in Turkey as the contract between buyer and seller are legally binding contracts in their own right. In previous years all documentation was in Turkish so it was necessary for all foreign investors to employ a public notary and official translator at the contract stage.
However, due to the huge increase in foreign investment and in order to simplify the process, a comprehensive contract has been drawn up in both English and Turkish that fully explains the terms of the sales contract and provides legally binding protection for both the buyer and seller under the terms of the contract.
Please ensure that when you are signing and paying a deposit, the contract is an official numbered contract - these contracts are made in triplicate with the Estate Agent, Buyer and Seller each receiving a copy.
If you still feel that you wish to employ a lawyer during this process, we can provide you with an official list of government lawyers and Notaries to represent you. An estimate of these costs would be approximately £600 / € 900.
A lawyer will check: -
- The title deeds of the property are in order
- The person selling the property is the registered owner
- There are no debts or charges on the property
- Building Licenses and permissions (e.g. for extensions) are in order.
- Terms & Conditions of purchase
It should be noted that all of the above points are covered by either the Title Deeds Office or the County Council during the buying process, so the only real benefit of employing a lawyer is to check the terms and conditions of the contract.
It will also be necessary to register with the local Government office and receive a Tax number.
A bank account will be opened with a local bank (see Bank links) in order for you to hold funds locally. This process can be done within a few hours.
Regarding Property Surveys, again this is not a legal requirement. Building Regulations Laws have recently been passed in Turkey and all new buildings must be passed by an Official Government Body. This is not the case with resale property, but all details of the property will be on file with the local county council and must be in line with regulations for the property to be sold. If you are still wish to employ a property surveyor, he can check all the details of the property with the county council and survey the property, presenting you with a report prior to your decision to buy the property concerned.
Once you are satisfied with all the details of your property and the sale price is agreed, a contract is drawn up between the buyer and seller and a percentage deposit paid. This is usually 10% of the agreed purchase price but booking deposits can also be accepted if the seller is in agreement with the balancing amount of the deposit payable by bank transfer at a later agreed date.
The legal exchange of property title deeds for a Turkish National is a very speedy process and normally takes place within a day. However, for non-nationals, the process is a little longer and can take between 6 & 8 weeks. This elongated process is in the interest of the foreign investor and ensures that the property is not in or close to a military designated zone. The sellers legal ownership and debts and charges are also checked during the process and background checks on the foreign investor are also carried out.
A copy of all the title deed document, a letter of explanation of the purchase agreement, a copy of the contract and a copy of your passport with 4 passport photographs are sent to the Army Headquarters in Izmir for clearance. It is this process that takes time. Once clearance for the transaction to go ahead is received, the legal exchange of property title deeds at the Tapu Office will be completed in one day (as for a Turkish National).
This entails, the Buyer (or Power of Attorney), Seller and Estate Agent attending the TAPU Office whereby the title deeds are transferred once the seller confirms he has received the monies for the transaction and the buyer confirms there willingness to buy the property and that they have received keys to the property. If it is difficult for you to return to Turkey to complete this final transaction, Power of Attorney can be given to us to act for you in this final transaction. If completing the transaction yourself, a Translator must be present as all the points of sale must be understood by the buyer and seller alike before the transaction can be completed. Once the Transaction is finalised, you (or your power of attorney) will receive a TAPU (see attached link) in your name, which are the title deeds to the house making you the legal owner. All these details are also kept on file at the TAPU office.
A commission of 3% is paid by both the Buyer and the seller on the purchase price of the property on completion.
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