Generally, there are two options of TAPU registration: in red and blue colors. The red one is issued to the owner of the finished property and the blue document is received by the owners of land.
The cadastral department distributes TAPU. It should be noticed that all the TAPUs granted will be listed online in the unified register which excludes any real estate fraud in Turkey.
I will tell you all the peculiarities of receiving this important document so that you can estimate your spending.
The first point of TAPU identifies location and address of the land on which the building is situated. The second point is designed for the photo of the property owner which is not obligatory. The third point contains the number which will be filled in the unified register of the cadastral department. The fourth point of TAPU has the title of the land and its square footage. It is special that if you buy an apartment you also purchase a part of land together with the flat. The sixth point contains the information about the real estate object concerning the type of the building, the amount of floors, date of the finish of construction process. TAPU must be filled in with the stated value which is less than the real price, as a rule. On the one hand, this is beneficial for the owner as it causes a lower tax payment. On the other hand, state insurance payment is also lower. Moreover, it is obligatory to write the reason why the flat is sold and information about a new owner of the flat to TAPU. When the document is ready, it is signed by the specialist of the administration and stamped at the cadastral office.
TAPU doesn’t contain the information about the common and residential square footage of the real estate object because this data is identified in other document which is called ISKAN. By the way, TAPU is not protected by watermarks and holographic stickers as there is no need in special security measures. You can get information about the owner of property in Turkey by phone or personally at any cadastral department. TAPU is normally printed out and in case it is damaged or lost it is easy to print it out again paying some administrative fee.
Finally, we get to the spending section. You will have to pay 160 TRY for notarized power of attorney which is registered by the foreigner for his or her representative. The interpreter is obligatory to attend the deal and this service is about 50 EUR. In order to receive the permit for real estate purchase from the military department (in Izmir) you should pay about 500 EUR for sending copies of the documents. The local bank account must contain not less than 200 EUR monthly. Also you have to pay a tax which is 3.3% from the declared value of the property item. In most cases this fee is paid by the buyer but it can be paid equally by both parts of the deal.
Text: Jevgeniy Nazarenko