Deed Costs | Costs of Real Estate Purchase
Unlike most European countries, not a notary public is responsible for the transfer of Real Estate in Turkey but the officer of the General Directorate of Land Registry and Cadastre. It is a legal requirement for the buyer and seller to be present at the General Directorate of Land Registry and Cadastre during the transfer process. Whether or not this requirement is 3 with a power of attorney. it can be handed over to individuals. At the end of the transfer process, you will receive your title deed document.
Land Registry Transaction Cost 2020
4% of the value declared to the General Directorate of land registry and Cadastre is paid as tax. If there is no treaty as a result of bargaining, the tax distribution as specified by the law is as follows. 2% buyer pays – 2% + 400 TL revolving capital fees and 750 TL Cadastral fees to the seller pays. This amount is deposited in a State Bank. For this, “minimum declaration value” is taken from the municipality to which the real estate is attached. Sales price lower than the municipal declaration value can not be shown. Otherwise, the tax penalty will be deducted later.
Realtor Commission
In the regulation, the real estate agent’s Commission is 2% + VAT of the sale price and is taken separately from the buyer and seller.
Attorney Costs
Almas Alanya Real Estate has sales contracts approved by the attorney. Your money is always secured by our company. We are experts in the sale of real estate to foreigners and transfer of title deeds. Our clients who prefer us don’t need lawyers.
If you still need a lawyer, we can help you find an English-speaking lawyer to choose from. Attorney costs average € 1,750 + 18% VAT.
Ongoing Charges
Property tax: by law, the property tax rate for houses is 0.2% in metropolitan borders; in non – metropolitan municipalities it is 0.1% – workplace, shop property tax rate is 0.4% in metropolitan borders; and in non-metropolitan municipalities it is 0.2%.
Housing insurance: a value of between 150 TL and 250 TL will come out for housing insurance. The size and quality of the real estate is important.
Electricity and water subscriptions
Electric subscription
Electricity and water subscription transaction costs in Turkey vary from region to region.
Electricity subscription fee;
If you receive an electricity subscription for the first time, the electricity registration fee, electricity meter and additional deposit fee are between 100 and 500 TL collected. If the DASK insurance has expired, the electricity transfer fee is the amount of the deposit and the additional DASK amount.
Water subscription fee;
If you receive a water subscription for the first time, the registration fee and the deposit fee to be paid on each subscription is a total of 775 TL. If the DASK insurance has expired, the water transfer fee is the amount of the deposit and the additional DASK amount.
