A foreign citizen who has decided to buy real estate in the Republic of Turkey does not face any difficult circumstances in the process of making a purchase and sale transaction.

It is worth noting that real estate developers, representatives of a banking institution and civil servants are not interested in the question: “Where do you get a certain amount of money for the purchase of square meters of residential / commercial direction?”. Even if it is the acquisition of several prestigious properties at once.

Another important point in the completion of the purchase and sale transaction is the fact that the process of registration of the object in the property and the payment of the transaction fee are carried out together.

Payment options when buying a property

Content:

• Options for paying for real estate in Turkey
• In practice, there are the following options for paying for an apartment, office and other facilities located in Turkey

Payment options when buying a property

Fig.1 Payment options when buying real estate

Options for paying for real estate in Turkey

A foreign citizen who has decided to buy real estate in the Republic of Turkey does not face any difficult circumstances in the process of making a purchase and sale transaction.

It is worth noting that real estate developers, representatives of a banking institution and civil servants are not interested in the question: “Where do you get a certain amount of money for the purchase of square meters of residential / commercial direction?”. Even if it is the acquisition of several prestigious properties at once.

Another important point in the completion of the purchase and sale transaction is the fact that the process of registration of the object in the property and the payment of the transaction fee are carried out together.

In practice, there are the following options for paying for an apartment, office and other facilities located in Turkey:

• Cash.

In the Eastern country, you can buy a cottage / apartment / land for cash brought with you. The only limitation that may arise when choosing this payment option is that in some states on:

• the export of cash bills is set a certain limit;
• a large amount of money, it is necessary to present a supporting document on their origin (sale of real estate, official income, inheritance).

An amount of more than $10,000 must be declared at the border. Further, in the Republic of Turkey, you will need to open a current account in a banking institution and deposit money into it, or use a safe deposit box.

• Withdrawal of money from a bank card.

If you do not want to declare a large amount of cash, you can use the following possible payment options – take a valid bank card with you, on which any amount can be credited. To do this, you do not need to draw up any documentation.

You can withdraw funds from ATMs installed in Turkey from a card linked to a foreign currency account that is opened in your country. This method is considered the most popular and easy.

It is worth noting that for interest-free withdrawal of money, banks set certain daily limits, the size of which depends on the type of card, the status of its owner. Therefore, before traveling, it is recommended to clarify these conditions with a banking institution in your country.

• A transfer made through a bank.

This method is the simplest possible method used to make payment for the purchased property in Turkey. If you make a bank transfer, you must have the amount of the down payment (on the card / cash).

As soon as you decide on the property you like, you can immediately transfer funds to the account of the owner of the object using Internet banking. This action can be performed while in the Republic of Turkey or in your state.

The money must be transferred on the day of registration of the purchase and sale transaction. Banks charge a certain percentage for the service provided, but as practice shows, its size is no more than 0.5%.

The listed payment options when buying real estate in Turkey are considered the main ones used by foreign citizens. Each of the methods of depositing money for a purchase and sale transaction is legal and legal.