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 Use of a credited Estate Agents

Although crime is rare in property dealings, there has been instances where foreigners have parted with money and have not received deeds to their property. These instances have only ever occured where an individual has dealt with touts from the streets, never from estate agencies.

The conveyencing system here is simple and safe, as it is effectively government controlled, however the message to all prospective buyers is: always deal through a credited estate agency. İf approached by an individual who says he has properties to show you, ask him if he is attached to an estate agency and if so, which one. İf he is not. Then say you will only deal with a company. Some individual touts can be very persuasive and persistant, but do not be taken in. If in doubt, go to an agency and ask for help. Golden Moon Houses are here to help you and will be pleased to do so at any time.

Process of Selection and Payment Terms

Most estate agents maintain a portfolio of properties ranging from low cost apartments to high value villas. The range of prices in this region at the moment is from 20,000 GBP up to 250,000 GBP. There are many detached properties, both new and resale in the Çaliş, Ovacik, Hisaronu area, for 80,000 GBP to 150,000 GBP. Some of the best value properties can be found in new developments, where high quality and innovative designs are now commonplace.

If your budget is say 20,000GBP to 40,000GBP, you will be able to find some nice 2 to 3 bedroom apartments, mostly without pools, predominantly in Fethiye, but with a few in Çaliş and Hisaronu. For the range of 40,000 to 60,000 GBP there are several semi detached villas, mainly in the Çaliş area, with a small number of detached villa developments at around 60,000 GBP. Above 60,000 GBP, it is possible to find a wide range of detached villas in this region, also some high quality semis and a few luxury apartments in the exclusive Karagözler district of Fethiye. It is important that before choosing a home, you understand the area, if you are not already familiar with the Fethiye region, it is wise to ask the estate agent to drive you around Fethiye, İncluding the Karagözler districts, Çaliş, Ovacik and Hisaronu and Oludeniz. We do this for all our customers as a matter of course, unless they are already familiar with the area.

Concerning payment terms it is normal to ask for up to 40% deposit, with the balance being payable on completion of the deeds. For properties still under construction, stage payments are possible.

Mortgages are not common here, as the interest rates are high. The most economical way of raising finances however is to morgtage or remortgage in the UK.

Planning and Building Regulations

In the effort to raise and maintain standards of planning, architecture and building, the Turkish government and particularly the Muğla regional government have imposed strict regulations, which are rigidly enforced in this region.

To avoid overcrowding, there are maximum limits on any plot for building a house. For example, in residental areas of Fethiye, one can build on up to 25% of the land, that being the footprint of the house. So if a plot is 500 square metres, the house footprint is limited 125 square metres. Villas are limited to 2 storeys, however it is permissible to build into the roofspace, to create a third storey, Providing the distance from the ground to the bottom of the eaves is not greater than 6.5 metres.

In addition to the footprint restriction, these are minimum distances from house to road and house to side fencing or walls. These minimum distances are 5 metres from house to road and 3 metres from house to side and rear garden boundaries. If it is a corner plot, then it will be 5 metres from each road. İn rural or agricultural areas such as Uzumlu and Kaya, the building footprint is limited to 5% of the land area.

It is permissable for foreigners to buy land and construct a property of their own design, but of course the design and sighting of the building are subject to Belediya approval.

There is no high rise development allowed in the Fethiye region, which is good news, so no concrete jungles, like Torremolinos in Spain.

With these regulations and careful examination of building designs, which does take place, the local government will ensure that the region is developed to high standards and the region will indeed become the riviera of Turkey.

Use of Solicitors

The system of conveyancing in Turkey is very different and much simpler than in the U.K. The main difference is that deeds here are controlled and issued by the government and detailed records are kept in the district deed or Tapu offices. There is no need therefore for solicitors to carry out extensive searches, here these are easily done by simply visiting the tapu office. It is therefore upto the customer if they wish to have a solicitor represent them throughout the purchase procedure, however most buyers feel this is not necessary. Golden Moon Houses will in fact carry out all the necessary procedures throughout the purchase, approval and deed issuance process.

It is necessary for the purchaser to be present at the time of deed collection. If the property is to be in joint names, both parties must be present. İf however it is not possible to be present for whatever reason, the purchaser should appoint a person to represent them by power of attorney. This is easily done here, but needs the purchaser to go along to the local notary to have the power of attorney drawn up and notarised. It can also be done through the Turkish Embassy in London, however this a longer and more expensive process.

A power of attorney can be any Turkish national and is normally either a solicitor or the estate agent. We have already completed a number of purchases this year by power of attorney.

Once the deed is issued by this means, we will need to know what the buyer wants to do with the documents; either to place it in a bank, or with a solicitor, or in a safe with the estate agency or other institution.

Process of Approvals and Deed (Tapu) İssue

Once a purchase has been agreed, deposit paid and a contract signed by the seller and buyer, the tapu process begins.

Firstly the papers are sent to the Izmir Army for approval for the buyer as a foreigner to purchase that particular property. For this we need a noterised copy of the purchasers passport, or both in the case of joint ownership. This normally takes around two weeks.

In parallel with this, we send the papers to the Deed office and start the actual deed process.

This takes normally eight weeks.

When going to the Deeds office there is an automatic check done against the property and if there are any irregularities, or loans secured against the property, the Deeds office will make these known. It is a very secure system that we use in Turkey. Any deed change, from a new issue to any number of resales, goes through the government Deed office.

Cost of Purchasing a Property

There are a number of costs to be considered when buying a property in Turkey.

The largest single cost is 3% purchase tax and 3% agents fee payable upon completion of the sale.

Other costs are made up from fees and charges for such items as Public Notari, translator (all official documents by law have to be translated either verbally or in writing, before the puchaser is allowed to sign), government deed office taxes and fees, photographs, photocopying, etc. All these will add up to a budget of 500 GBP, but in most cases this amount will be less.

If you need to arrange power of attorney in the event you cannot be present to collect the deed, there will be additional charge of approximately 80 GBP if you give power of attorney to say the agent, or approximately 150 GBP if a solicitor handles it.

These are the total costs.

Property Management and Letting

One concern for many buyers is how to look after their property while they are away. Many customers buy a house or apartment as a holiday home, either for themselves, or to let, or both. İn some cases, they will only be here for a few weeks of the year and therefore security and maintenance can be a concern.

Some estates agent in Turkey provide a property management service. Golden Moon Houses is one such organization who will provide a comprehensive service of property management, including regular visits, routine maintenance and gardening. This service is not expensive and is well worthwhile, to take away the worry and concern of leaving a property unattended.

Letting can also be arranged through Golden Moon Houses, who will arrange changeovers, airport transfers, also bedding change, laundry and inventory checks. Golden Moon Houses can take on the complete letting, or work with other organizations such as tour companies, or with the owner, some of whom have websites for this purpose.

There is no need for concern over your new home. We will look after it for you and will leave you with peace in your mind and a sound investment.