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info@elevenestate.com

FAQ

Frequently Asked Questions

First of all you must be clear about your budget before looking at properties. This will keep you focused and save you from a lot of unnecessary trouble and wasted time. Secondly make a detailed research of the company and the agent you are dealing with, this will benefit you later in the process since trustworthy and experienced people will be necessary when dealing with investments abroad. Last, but not least, make sure you have understood all clauses in the contract before signing. Never sign a contract that is in a foreign language you are unable understand.

According to a new Turkish law announced in August 2012 it is now possible to invest in more than one property as a foreigner and more countries have been added to the list of countries able to buy in Turkey.

When the purchase contract has been signed there will only be a few more practical things to deal with before getting the title deed (TAPU in Turkish). Eleven Estate will guide you through the whole procedure with competent and experienced staff to make it as easy as possible and suit your every need.

According to Turkish law everyone who buys a house in Turkey needs to have DASK which covers a percentage of damages in the event of an earthquake. This insurance needs to be ready before the title of deed procedure begins. DASK (TCIP) is a compulsory earthquake insurance provided by the Turkish Government to ensure the compensation of the material damages on dwellings caused by natural disasters.

This is 4 % of the property value which is stated in the Tapu Office. It is paid at one of the State Banks at the time of conveyance.

Monthly bills can be paid automatically by establishment of a Turkish bank account.

If a non-Turkish resident dies with assets in Turkey, their assets may be subject to Turkish law. Immovable property in Turkey, such as houses or villas, however, falls under Turkish law. In general 25 % is inherited by the spouse and the remaining 75 % is inherited by the children if any.

Property Tax: 0.1% of the property value declared by the local municipality (to be paid before the end of May each year).

Insurance: This amount is depending on your wishes and values in your property.

Complex payment: This amount is determined by the size of the complex, common areas, wishes and needs raised by residents.

Complex fee is a yearly amount paid by all residents. It is a common amount determined by the administrator, if authorized, otherwise it will be determined by the Homeowners General Assembly by voting.

There are many different ways to ensure your money is safe, it is all a matter of preference.

The rules change from country to country, so please do not hesitate to contact us that we can provide you with detailed and correct information focusing on your exact situation.

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