Covid-19 will most likely have long-term impacts on our way of working. Everyone had to adapt to the new way of distanced living and working for the sake of protecting human life. Not only the Turkish government but all governments around the world had no other option but to implement strict measures. The slew of COVID-19 travel restrictions affects almost every aspect of life. So, what happens if an investor would like to buy property in Turkey recently?
Actually, nothing! Because it is possible to buy property in Turkey without setting your foot in Turkey. And, it was always possible. Not to mention that anyone can easily complete the process abroad. So, here we’re writing down step-by-step on how you can buy property in Turkey from abroad.
STEP 1 – Client Segmentation
First, we determine which of the three criteria the client falls into:
In line with the client’s request and the information we gather, we determine the segment that our client falls into. There are three segments. These are clients wishing to;
• Buy property in Turkey
• Sell property in Turkey
• Inherit a property in Turkey
After the completion of this step, that is, after determining the appropriate segment for a client, we proceed to the second step.
STEP 2 – Sending Power of Attorney*
Now, we send the sample Power Of Attorney to our client. Once the client receives the document, s/he should complete the following procedures.
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Bureaucratic Procedure
The client should take this sample power of attorney to a notary office in his country. And, requests the notary officer to write the same POA on his/her name. When the POA is written by the notary public in his/her country, it must also be apostilled**. In other words; a POA document drafted directly by a foreign country’s competent authority must be approved (apostilled) by political authorities of that country.
After the completion of this step, now, the client should send the POA to our office via cargo.
*Info: What is Power of Attorney? – A POA is a legal document that grants one person (lawyer) the authority to act on behalf of another.
**Info: What is Apostille? The Apostille is a certificate, a form of authentication that the government issues and attaches to records. So that they can be recognized when submitted to another country. The form itself and the content inside of it are exactly the same in all countries. The ratification note is known as the ‘Apostille Convention’. This was issued in compliance with The Hague Convention of October 5, 1961. As a result, it facilitates the transactions between countries that have signed the aforementioned convention.
STEP 3 – Lay Back and Buy Property in Turkey
Subsequently, when we receive the power of attorney, we proceed with a final procedure. That is; to take it to the notary office in Turkey, get it translated into Turkish by a sworn translator. Finally, once the notary office seals it this procedure ends and we have a legit POA in Turkey. Now, we can act on behalf of our clients according to their wishes.
Let’s assume the client would like to buy property in Turkey, but s/he’s abroad.
Thanks to this power of attorney we are fully authorized by our client to proceed as follows;
- We meet with the seller or real estate agent of the property that the client wishes to buy.
- We gather the required documents and information as well as a copy of the property’s title deed.
- We verify the deed of the property at the Land Registry Office and see if there are any restrictions, mortgages, or debts on it.
- We contact the municipality to find out if all of the necessary records have been collected and if there are any issues with the building.
- Subsequently, we write a report on the property and send it to the client.
- Then, we write the sales contract.
- We get a Turkish tax number for the client from the Tax Office
- We sign the title deed on behalf of the client at the Land Registry Office.
- After receiving the title deed, we go to the municipality and register the property under the new owner’s name.
- Finally, we register utility subscriptions (electricity, water, gas) in the new owner’s name.
This is a very easy process to invest in or own a house in these difficult periods of time. Because just in three steps without setting your foot outside your country, you managed to buy property in Turkey! Congratulations!
