PURCHASING A PROPERTY THROUGH PENINSULA PROPERTIES

Buying a property in Turkey is a lot easier than in many other European countries.
In order for a foreign national to acquire the title of the property, an application has to be submitted to ensure it is not located too near to a Turkish military base, something of a formality
for our developments in Kusadasi as our properties are well out of the official limits.
All properties sold by Peninsula Properties are purchased on a Freehold basis.
Once you have decided on your place in the sun, an independent solicitor will draw up a sales contract detailing the agreed terms and conditions of the purchase. We will then take you to the solicitor’s office and a legal translator will be present at all stages to represent your interests. The solicitor will make sure the title of the property is checked, confirm that the seller is the registered owner of the property, and that we are free to transfer ownership to you. They will also ensure the information on the sales contract corresponds to the information on the deed. Once agreed, the buyer, seller, solicitor and translator will sign the sales contract in both English and Turkish.
If a client opts to give their Turkish solicitor Power of Attorney so that they can sign for the release of the Title Deeds (TAPU) in their absence, then you will be taken to the Notary Public to draw up the Power of Attorney documentation. The legal translator will be present at all times to ensure the procedure is fully understood. This usually takes a maximum of 45 minutes. Giving your solicitor Power of Attorney does not give him or us any claim over your property - your name and picture will still appear on the Title Deeds.
It normally takes approximately 3 months for the application to transfer the Title Deeds to be approved by the Land Registry Office (including security and property location check). We will advise you as soon as this happens, together with the balance of monies due, and as soon as all outstanding payments have been made we will arrange to accompany you or your solicitor (Power of Attorney) to the Title Deeds Office. Final formalities can then be completed quickly and your stamped documentation should be provided to you the same day.

INSPECTION TRIPS
You may already know where you want to buy but nothing beats getting to know an area and seeing a selection of our properties for yourself. You can arrange an inspection trip with us free. It will be our pleasure to show you around the resorts and to accompany you on a tour of the properties we have for sale. Please contact us.

PURCHASE COSTS
Peninsula Properties will provide you with a Payment Plan at the Sales Contract stage so that you are fully aware of what monies are due together with payment dates. The following is a guide to the costs you can typically expect to pay in addition to the purchase price. We will ensure you are provided with receipts for all payments made through us.

Solicitors Fees £ 150 - £ 200 or Euro 225 - 300
Legal Translator £ 50 - £ 70 or Euro 75 - 90
Notary (if required) £ 60 - £ 80 or Euro 90 - 120
Stamp Duty £ 200 - £ 450 or Euro 300 - 625
Buying Property Tax 1.5% of purchase price
Annual Community Tax £ 5 - £ 15 or Euro 7 - 20
Water/Electric Connection £ 150 - £ 200 or Euro 225 - 300
Annual Earthquake Insurance £ 40 - £ 60 or Euro 60 - 90
Annual Property Maintenance £ 350 - £ 450 or Euro 525 - 675

For off-plan purchases on developments not yet completed we usually offer special promotions where we will bear some of the above costs.