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Important and frequently used terms for buying property in Turkey

Picture for blog post Important and frequently used terms for buying property in Turkey

Knowing the terms of buying property in Turkey , when investing in any real estate in this country, will help you a lot in this process, and you will also be safe from the trap of profiteers. For this reason, in order to learn the real estate terms and laws of this country, you can contact the CityRealty’s real estate agency consultants and buy real estate with the help of the agency’s experts with peace of mind.

Considering that concluding a contract in today’s world is particularly complicated and every signature in real estate offices can have consequences, it is necessary to familiarize yourself with real estate terms and their meanings before concluding a contract.

Familiarity with these terms in the process of buying and selling real estate in Istanbul will allow you to be able to buy and sell real estate with an open mind and examine different aspects.

Administrative and legal terms of buying property in Turkey

1. Tapu (TAPU)

One of the most important Turkish real estate terms that you should be aware of is the Tapu document. Tapu is actually a document in which all the detailed information of the property and its owner are recorded.

This document has a QR code, which is inserted in order to protect the information, and by scanning this code, you can see the information of the property and the owner. Tapu document in Turkey is divided into 2 categories of blue and red documents, the red documents are for land with construction permit, while the blue documents mean that there is no construction permit in the respective property.

2. Tapu and Cadastre Administration in Turkey

Among the important offices and organizations that you should refer to after concluding a real estate contract is the Tapu and Cadastre Office. This office is considered the only official authority for registering real estate documents in Turkey, and the purchase of an apartment in Istanbul or its sale must be registered in this office in order to issue an official ownership document in the name of the buyer. This office is also one of the subsets of the Ministry of Urban Development of Turkey.

Types of documents (TAPU) in Turkey

– separate ownership document (KAT MÜLKİYETLİ)

This type of document is one of the easiest and most carefree types of Tapu documents. In the separate ownership document, the nature and type of the building and its area are fully and clearly stated. The color of this type of document is blue, which indicates that this building was built legally. Buildings with this type of document have a residence permit.

– Easement document (KAT İRTİFAKI)

This type of document is given for one floor of buildings under construction or without residence permit. In this type of document, the amount of land purchased by the owners is shown on the map. For example, if the land area is 1000 square meters and 40 houses are built on it, your share is 1 out of 40.

This type of document is converted into a separate ownership document after receiving the completion of work and separation of building units and is issued in blue color.

– Joint document (HİSSELİ)

One of the types of ownership documents is the joint document. In this type of document, the share of each owner and the scope of its share are not clear on the map. In this type of document, only the owners and partners can determine the share and part of each by their agreement. This document is pink in color and is not acceptable for obtaining a loan. In the new amendments, the QR code section has also been added to common documents.

3. Document exchange system (TAPU TAKAS) in Turkey

This system is an intermediary between the buyer and the seller, and its steps are all done online, and its security has been approved by the Turkish government.

This system has been launched in cooperation with the documents department and banks to prevent fraud. In this way, a person pays for the purchased property by entering the details of the property. After signing by the seller, transferring the document and confirming the document by the Tapu office, the money is transferred to the seller’s account.

4. Deposit (DEPOZİT) of Turkey

When renting a property, the owner of the house receives a fee in advance to compensate the damage to the property. The deposit is equal to a minimum of one month’s rent and a maximum of three months’ rent, which is received as a guarantee from the tenant.

5. TAPU MASRAFLARI for Turkey

Of course, buying a penthouse in Istanbul , a villa, land and other real estate will require paying a lot of money. For this reason, in all documents, the title of Lori consumption tapu is used, which is another Turkish property term.

This term actually refers to all the official costs that the buyer and the seller must bear and pay during the purchase and sale of real estate as well as the registration of documents in Turkish offices.

6. VERGI in the Turkish government

In Turkey, all taxes paid by citizens are known as vergi. This term is also used in Turkish real estate documents and it means all the taxes that must be paid to the Turkish government when buying and selling real estate. Note that the property tax must be settled when buying and selling real estate.

7. Noter offices in Turkey (NOTER)

Notary or notary office is an office that provides documents and legal documents to carry out transactions for natural and legal persons according to existing laws. These offices prevent disputes by presenting legal documents.

8. Expertise report (EKSPERTIZ RAPOR) in Turkish cities

Expertise’s report is among Turkish real estate terms for foreigners who intend to buy real estate in this country. The experts who provide this report determine the real value of the property according to criteria such as the age of the building, the region, etc. and mention it in the expertise report.

9. IPOTEK in Istanbul

Ipotek is considered one of the most important real estate terms in Turkey that every party to the transaction should be aware of. A mortgage is actually a document that is issued for real estate and other real estate that is mortgaged.

In fact, the owner received a loan from the bank, institution, manufacturer or any other organization with his property deed, and the property deed is known as a debt document. For this reason, you should purchase an office in Istanbul , an apartment, land, etc. that do not have a mortgage document.

10. Income (AİDAT) in Turkish apartments

Income in the word means tolls and it is a building charge that is collected from all residents for its expenses. The cost of income varies according to the size of the building, facilities, etc.

The cost of income includes cleaning, elevator service, sports facilities, security, etc.

Terms representing property characteristics in Turkey

1. Parsel

Among other Turkish property terms, we can mention parcel, which is actually a title that belongs to separated lands. In other words, the lands that are divided according to the relevant regional laws in the country are called parcels.

The owner of the parcels can be one or more people and they can also belong to Turkish public and private organizations and foundations.

2. Brut size (BRUT)

One of the most important real estate terms in Turkey is the gross meterage, which can be seen in the tapu documents. In fact, it can be said that the gross square footage represents the owner’s share of all common parts of residential complexes such as elevators, corridors, etc.

It is worth mentioning that during the purchase of real estate, this area is assigned to the buyer, and during the sale, it must be given to the new owner. Sports halls, swimming pools, green spaces, parking, etc. are also included in the gross area.

3. Net size

Net meterage is another Turkish real estate term that appears in purchased real estate documents. This square footage represents the usable parts of the property. In this way, parts such as under the cabinets and places that cannot be stepped on, will not be part of the net size.

4. PAY

Pai can be considered as another Turkish real estate term that will represent the properties of the purchased property. Pai in colloquial terms means dang. Dang is also the final share of a person from the total area of the property. In other words, pai can be considered as the common share of each person, which is accurately recorded in the Tapu.

5. Satis Bedeli

Every property in Turkey has two monetary values, which will include the real value of the property and its purchase value. Basically, these two values should be the same in the tapu document and the expertise report, but in some cases, the buyer may have purchased a property more or less than its real value. In this way, you will get acquainted with another Turkish property term, which is called Satish Bedeli.

Satish Bedeli shows the purchase value of each property and should be mentioned in the Tapu Deed.

6. DEPREM Sigorta

Every building that is built in Turkey must have earthquake insurance, that is, the existence of this insurance policy is necessary for all buildings, which is called DEPREM Sigorta.

7. Housing document

This document is issued for buildings and houses that have a blue document and are habitable.

 

Important tips for buying property in Turkey for foreigners

When concluding a contract, in addition to familiarizing yourself with all Turkish real estate terms, it is necessary to consider some of the rules mentioned in the contract as clauses. Note that foreigners can only buy property in some regions of Turkey and cannot purchase real estate in all regions of the country. In addition, every foreigner will be allowed to buy a maximum of 30 hectares of land in this country.

When buying real estate in Turkey, make sure that the property in question does not have any debts such as taxes, water bills, electricity, etc., and make sure to transfer the purchase amount to the seller’s account through banking systems. Otherwise, it is mandatory to receive a written receipt in order to pay the full amount of the property from the seller.

Conclusion

Familiarizing with Turkish real estate terminology and buying real estate in this country is associated with certain complications that foreigners generally do not know about. For this reason, in order to conclude a real estate contract, it is better to go to real estate agencies so that the relevant consultants and experts can guide you to buy the property. CityRealty real-estate Agency is one of the Iranian real estate agencies active in Turkey, whose commitment and responsibility will be guaranteed to foreign nationals.

Frequently Asked Questions

1. What stages does the expertise report have?

This report is done by real estate appraisers who are licensed by the Capital Market Board and has the following three stages:
In the first stage, the physical environment of the property is evaluated.
In the second stage, the records and documents of the property are examined by experts.
In the third step, the obtained information is analyzed and an expertise report is presented.

2. What is the cost of expertise report in 2022?

The cost of preparing an expertise report in 2022 is 1000 to 1400 liras.

3. What does the cost of income in ordinary apartments and large complexes include?

The cost of income in ordinary apartments includes the cost of cleaning and elevator service, and in large complexes it includes sports facilities, water and gas rights, security, lobby and amenities.

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