Selling Property in Turkey Guide

Updated For 2024

Reselling you Kalkan property can be quite a new experience for many Kalkan property owners. Over time some of the processes of the sale have changed in particularly the timescale’s and paperwork involved. Many current Kalkan property owners purchased without the use of an independent lawyer. When it comes to resale they are therefore in the dark about the expectations of today’s’ buyers and proper process.

So when you choose to sell your property with us we will also hold your hand throughout the sales process to ensure it all goes smoothly. If you wish to talk to us about selling your Kalkan property please provide us with this information so we can expedite your request:

  • Your name and contact telephone number
  • Scanned copy of the deeds/Tapu
  • Details of the key holder in Kalkan
  • Link to any website where you may be renting the property out or already selling with another agency.

We will then arrange to view your property and give you a market valuation along with a detailed breakdown on the estimated sales costs. With this knowledge of your estimated net sale proceeds we will agree on the correct price to put your property on the market.

So what are the sales costs? Essentially:

  • 2% Agency fees* plus VAT
  • 2% Seller’s property transfer tax plus 5,906TL Doner Sermaye Tax
  • Miscellaneous notary, translator, council and banking fees
  • For sales to non Turkish buyers only an Independent property valuation report min 11,000TL (approx £300)
  • For sales to non Turkish buyers only a loss from currency exchange (estimated min 2.6%)

We do not insist on sole agency nor do we have a sign on fee.
If you do not have suitable photography this will be done for you.

[*Agency commission may vary depending on sales with partner agents and the level of services required]

What Else Should You Know About Selling?

If you have owned your property for a short time you may be liable to Turkish Capital Gains Tax   especially now the new property valuation report system has been introduced. We can advise if this is the case and the implication it may have to you selling.

If you own the property as a Turkish company we recommend you contact your accountant in Turkey for advise on the profit tax on resale.

From January 2022 sales proceeds are paid to you in Turkey to your Turkish bank account. If you do not have a bank account we advise you open one or ideally give a power of attorney to a lawyer to be able to open one at the point of a sale.

A key difference in the sales process compared to many other countries is that you will receive payments from the buyer/buyers account direct and gross of all sales costs. Money is not paid via the lawyer or agent with expenses deducted before being forwarded to you. In general the deposit paid to you on contract should cover the sales expenses that need to be paid out at completion without the need to wire additional funds.

At completion you must have property insurance including DASK insurance. All your council taxes, water and electric accounts must be paid up to date as well as any site fees where you have shared facilities. We will require confirmation of the utility connection numbers and a letter from your site maintenance company (if appropriate) confirming you are up date to with your site payments.

If you are renting your property whilst trying to resell it we can advise how best to handle your bookings and the transfer of the business side of the property at the sale.

So Why Choose Black Lion To Resell Your Kalkan Property?

  1. We have over 20 years of experience in the Kalkan property market and can give the best advice regarding all matters of your property sale.
  2. We vet our buyers at all stages of the sales process ensuring a high conversion rate for closing sales.
  3. We have multi national and multi lingual staff making communication across languages easy.
  4. Our two Kalkan offices are located perfectly located to show case your property and interact with buyers.
  5. We are the only Kalkan estate agent who is a member of AIPP for added peace of mind and protection.

If you need more convincing then see what are sellers have to say on our Facebook reviews and Google business pages.

So why wait? Contact us today!