How to buy property in Flipflops - Meltemi Eco development

Payment Plan

£500 deposit to reserve
90% payable within seven says of signing contracts (less £500 deposit)
10% payable at full physical completion

Mortgages are available up to 80% of the cost of the apartment.

Additional costs include Purchase tax of around 3% of the purchase price, plus £1800 for legal fees, title deeds, utilities connection and military check.

Ongoing costs after completion, should be expected to be around:

£10 per year for community tax
£200 per year for earthquake, buildings & contents insurance
£350 per year for utility bills
£720 per year for maintenance charges.

These are all estimates and must be taken as such. Insurance will obviously depend upon sums insured and utility bills will vary with usage, for example air conditioning can increase bill if used frequently.

Guide to Buying Property in Turkey

Buying Property in Turkey...
The Five Point Buying Process Guide

1) Once you have decided buy property in Turkey, and agreed upon the purchase price we will provide you with a choice of solicitors from which you can pick from. The solicitor upon instruction will check the property for the following:
• Whether there are any charges on the property
• Where applicable that the building licenses are in order
• The seller's terms and conditions are fair and reasonable

2) The contract of sale will then be drawn up for the property, or if drawn up by the seller's solicitor your solicitor will check the contract to make sure it is fair and reasonable and make any amendments where necessary. Once the buyer and seller are happy with the contract the two parties will sign the agreement. In most situations this can be done in either the UK or Turkey as we operate a transfer service for contracts between the UK and Turkey. The contract need only be in English as in the event of a dispute a legal translator can translate a copy for the court. There will only be four original copies of the contract, one to be retained by the buyer, one by the seller, one by the agent and one by the lawyer. We will also require to see an original passport and utility bill dated within the last three months for any person who is signing the contract. We also will need to take your parents' names as they appear on your birth certificate (we don't need to see a copy of this, you simply tell us.) This will then enable us to apply for the military check to later permit transfer of the title of the property in Turkey to you.

3) The deposit (or first stage payment) will be required usually within seven days of the date of contact, less any reservation fee paid, in cleared funds into the IPA Client Account. Legal fees and any agency fee (this is 3% if the property chosen is not on an International Property Agents development) will also be payable at this time.

4) A subsequent military check, which will permit the transfer of the property to yourself, will be applied for; this could take a few months, which is standard procedure for any foreign national purchasing property in Turkey.

5) As per your contract, stage payments will be payable if you buy off plan and at completion there will be a final payment. At this point we will usually have received permission from the military for the purchase to continue and should be able to transfer the title into your name. At the time of transfer you will need to either be present at the title deeds office or you can give your solicitor power of attorney to sign for the release of the title deeds on your behalf. If you do not wish to be present then there will be additional fees incurred for notary charges accrued in the UK and translation. You will also need to notify us of your intent to do this at least 12 weeks prior to completion. You will need to pay your buyer's tax on the day of the transfer. You will then have your deeds to your property and the keys which we will hand to you on the day!