Payment Terms
What and When do I need to pay?
When purchasing property through Oracle Property Developers, we will try to tailor the payment plan to suit each Individual Financial Circumstance.
Properties purchased “OFF-PLAN”
“This is an example based on a 2 bedroom apartment at £35,000”
On initial contract arrangement- Holding Deposit- £2,500
30% after 4 Weeks from contract arrangement- £9,750
30% after 12 weeks from contract arrangement- £9,750
Balance on completion- £13,000
Total Payable- £35,000
Properties purchased “KEY-READY”
“This is an example based on a 2 bedroom apartment at £45,000”
On initial contract arrangement- Holding Deposit- £2,500
20% after 4 Weeks from contract arrangement- £8,500
Balance 12 Weeks from contract arrangement- £34,000
Total Payable- £45,000
Properties purchased “RE-SALE”
“This is an example based on a 2 bedroom duplex apartment at £55,000”
On initial contract arrangement- Holding Deposit- £2,500
Balance 12 Weeks from contract arrangement- £52,500
3% of property purchase price-Agents Fee £1,650
Total Payable- £58,300
What else do I need to pay?
As with ant property purchase in the UK, there are always some additional fees aside from the purchase price which have to be met. The same is true when you buy property in Turkey.
The independent English-speaking lawyer which we can recommend or you can appoint will manage all of these payments on your behalf after you give them the power of attorney as and when they are needed on behalf of buyers - investors. To ensure they have the necessary monies in place, you will need to provide 50% of these costs up front. The remaining 50% will be due on completion. The following table gives a few examples of what additional costs can be expected.
Additional Costs Example-2 Bedroom
Property Purchase Price- £35,000
Purchase tax 1.5%- £525
Military Search £300
Power of attorney £130
Title deed application fee £150
Translator- £70
Utilities
Electricity connection fee £250
Water connection fee £250
Mandatory Insurance yearly approx £40
Council tax yearly approx £50
Total Closing Cost- £1,715
Solicitor Fees (depending on services required ) from £350
Yearly maintenance £400
