Understanding Notary Fees and Associated Costs for Property Transactions
When purchasing property in Turkey, a notary agreement is an essential step, particularly for non-Turkish speakers. Here’s a breakdown of the costs involved in the notary agreement and the transaction process:
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Notary Fees:
- The cost for notary services typically ranges around 1% of the total property price. This fee covers the preparation of the necessary documents and the legal formalities involved in the transaction.
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Sworn Translator Costs:
- If the buyer cannot read or write Turkish, a sworn translator is necessary to explain the terms and details of the title deed records. The translator's fee for oral translation varies based on the specifics of the contract and the complexity of the transaction.
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Power of Attorney (POA) Fees:
- If the buyer wishes to authorize another person to handle the TAPU transaction on their behalf, a Power of Attorney must be prepared. This document can only be drafted by a Notary Public in Turkey, with fees ranging from 7,000₺ to 10,000₺, depending on the notary and the specifics of the POA.
These costs are essential considerations for foreign buyers navigating the property acquisition process in Turkey, ensuring that all legal requirements are met and that the transaction proceeds smoothly