Selling real estate property in Turkey as a foreigner can be a complex process, but with the right guidance and preparation, it can also be a straightforward process. Here is a step-by-step guide on how to sell real estate property in Turkey as a foreigner:
- Hire a real estate agent: The first step in selling your property in Turkey is to find a reputable and experienced real estate agent. A real estate agent can help you navigate the complex legal and bureaucratic process, and help you find the right buyers for your property.
- Price your property: Your real estate agent will help you determine the appropriate price for your property. They will use market data, as well as the condition and location of your property, to determine a fair price.
- Prepare your property: Once you have determined the price, you will need to prepare your property for sale. This includes cleaning, staging, and making any necessary repairs. Your real estate agent can also help you with this process.
- List your property: Your real estate agent will list your property on the appropriate real estate platforms and market it to potential buyers, such as sahibinden.com and hepsiemlak.com.
- Review and negotiate offers: Once you receive offers on your property, your real estate agent will review them and help you negotiate with potential buyers.
- Sign the contract: Once you have agreed on the price and terms of the sale with the buyer, you will need to sign a sales contract, which will be prepared by your real estate agent.
- Register the sale with the Turkish Land Registry Office: After signing the contract, the sale must be registered with the Turkish Land Registry Office. Your real estate agent can help you with this process and make sure that the registration is done correctly and in a timely manner.
- Transfer of funds: After the registration process is completed, the funds from the sale will be transferred to the seller’s bank account.
It’s important to keep in mind that selling real estate property as a foreigner in Turkey has some specific regulations such as getting approval from the Ministry of Environment and Urbanization if the property is located in certain areas with military, security or strategic importance. Additionally, there may be capital gains tax applied on the sale which need to be taken into account, and the agent should have an understanding of the tax regulations to help seller with the process.
In conclusion, selling real estate property in Turkey as a foreigner can be a complex process, but with the right guidance and preparation, it can also be a straightforward process. It’s best to consult with a reputable and experienced real estate agent and attorney to help guide you through the process and make sure that everything is done correctly and in a timely manner.
