The most important papers and documents that you must have to buy property in Bursa
When you buy a property in a major city such as Bursa, you are required to prepare official papers and documents, including what you will need before writing the sales contract, and what you will need when starting the ownership transfer procedures. In this article from Ebla Real Estate, we will talk about the most important papers and documents that you must have to buy property in Bursa.
The most important papers and documents that you must have to buy property in Bursa:
Passport:
Your passport is the primary document proving your identity and nationality. For foreign buyers, a valid passport is necessary for all legal and financial transactions involved in purchasing property in Turkey. Ensure your passport is up-to-date and has sufficient validity. It is also advisable to have multiple copies of your passport for various administrative processes.
Bank account:
Opening a Turkish bank account is highly beneficial when buying property in Bursa. A local bank account facilitates financial transactions, including transferring funds for the purchase, paying taxes, and managing utility bills. To open a bank account, you will need your passport, proof of address, and your Turkish tax number. Most banks offer services in English, making the process easier for foreign buyers.
Tax number:
A Turkish Tax Identification Number (Vergi Numarası) is among the most important papers and documents that you must have to buy property in Bursa. This number is required for various legal and financial activities, such as opening a bank account, signing the property deed, and paying taxes. Foreign buyers can obtain a tax number by visiting a local tax office with their passport and completing a simple application form.
Foreign currency exchange document:
When purchasing property in Turkey, it’s important to document the source of foreign currency used in the transaction. A foreign currency exchange document, provided by Turkish banks, confirms that the currency has been exchanged in accordance with Turkish regulations. This document ensures compliance with financial laws and is necessary for registering the property with the land registry.
Real estate valuation document:
A professional real estate valuation is required to determine the property’s market value. This valuation document is necessary to secure a mortgage, calculating taxes, and ensuring a fair price for the transaction. Certified appraisers conduct the valuation, and the report must be submitted to the land registry office as part of the property transfer process.
Earthquake insurance policy:
Earthquake insurance (DASK) is among the most important papers and documents that you must have to buy property in Bursa. This policy provides coverage against damages caused by earthquakes, ensuring financial protection for property owners. To obtain an earthquake insurance policy, you will need details about the property, including its location, construction year, and structural features. The policy must be renewed annually to maintain coverage.
Thus, buying property in Bursa requires careful preparation and adherence to legal requirements. By securing the necessary documents—passport, bank account, tax number, foreign currency exchange document, real estate valuation, and earthquake insurance policy—you can ensure a smooth and compliant property purchase. Proper documentation not only facilitates the transaction but also provides peace of mind.. Protecting your investment in Bursa’s vibrant real estate market.
We talked about the most important papers and documents that you must have to buy property in Bursa.
Edited by: Ebla Group Real Estate
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