Property Investment In Istanbul – Expanding On The Buying Process
Property investment in Istanbul is much sought after by buyers from the UK. It’s attractive to many individuals because such properties can attract rental 12 months a year from professionals who live and work in the city. Istanbul property is a solid investment because this vibrant and dynamic economy and location will always attract people.
But before you embark on buying property in Istanbul, you need to ensure you understand the purchasing process. After you have found the property you wish to buy, you must instruct a lawyer and pass over all the relevant legal paperwork to him or her. You must have applied for a habitation licence, called Iskan; and have ownership of the title deeds, which are called TAPU. This official document records and proves your ownership of the property, and has a signature, an official stamp and your photograph. Your lawyer will ascertain that the TAPU is authentic. Expect your lawyer to then talk you through what happens next. This includes the details of how payment must be made for the property and when. Paying a holding deposit is common, and this usually amounts to between £1,000 and £2,000. Thereafter, a date is agreed for full settlement of the deposit fee, which amounts to anywhere between ten and 30 per cent of the asking price, less the holding deposit. It usually only takes a month or so for the buying process to be completed. Purchase clearance happens first, and then both parties can sign the contracts. Once everything is settled and approved, the property is recorded in your name.
Property investment in Istanbul may sound complex, but it is relatively straightforward with the right expertise on board. At Keyholders International Property Group, we can assist. Our extensive range of property for sale in Turkey covers the whole of the country, and we have plenty of experience to help you on your journey, from starting your search to our dedicated after-sales service. Get started today at http://keyholdersinternational.com/.