The documentation you will need to sell your property are:-
Passport (original document, the land registry will not accept a photo copy)
Notarized passport translation (original document, the land registry will not accept a photo copy)
Turkish Tax Number
x2 Passport sized photos
Tapu Document (Title Deed)
Your local land registry office will prepare all the paperwork to transfer the title deed to the new property owner. Please note; if you do not speak Turkish it is highly advisable to engage the services of a sworn translator.
*The buyer normally pays the whole amount of the 4% title deed sale transfer. This is percentage of the total sale amount of the property.
*Please note; According to Turkish Law, the title deed sale transfer *fee should be payable by both parties 2% from buyer, and 2% from seller, however in practice it is usually the buyers responsibly to pay the whole amount of 4%. This will of course be according to the terms of your negotiation.
Capital Gains Tax - If you decide to sell your property any time in first five years (four years if you acquired the property before 1st January 2007), you will have to pay “Capital Gains Tax” in Turkey. You will be exempt from this tax after the first 5 (or 4) years. The amount of the tax will be calculated as a percentage of the profit you make between the cost (What you declared when you first bought your property) and the sale price (What you declare at the Land Registry Office when you sell your property).
You will sign a declaration that gives the full rights of the property to the new owner.
Please also remember to close your water & electric accounts for the property.
(!) YellAli can assist you with ALL the legal aspects of selling your property Contact us to discuss further
Disclaimer: The information on this site is provided as a general guide. The above information is provided by legal representatives of YellAli. Whilst every effort is made to ensure that the site is up to date and accurate, information may be subject to change at any time. YellAli does not accept any responsibility or liability for inaccuracies in this information.