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What are the payment options for purchased property?

In case you do not have full amount, you can use offers of construction companies or Turkish banks: payment by installments or mortgage.

Installment payment. This option is possible when buying real estate off-plan that is on the construction stage. Downpayment is 30%. The remaining amount is made in installments until completion of construction. The payment schedule stated in the contract at the conclusion of the transaction.

A mortgage loan is issued in the Bank at an interest rate of six to 13% per annum in the amount of 40 to 70% of the value of the property.

If you have full amount, you can use any convenient way of payment. Here are some of them.

Bank transfer is quite common method of payment. Using this method, you can transfer money to the seller, or the Turkish real estate agency with which the contract is concluded, from your personal account opened in the country of residence or in Turkey. In this case, you have to pay commission. For instance, Sberbank takes commission of 0.25% of the amount transferred, but not more than $ 200 per transaction. The transaction is also possible from a legal person.

Cash. In this way you can withdraw cash from your account in a Turkish Bank, to cash out the Bank card or traveller's cheque, and also to bring the amount yourself. If you choose the latter option, remember that there is a limit on the amount of import cash without declaring it, which is 10 000 USD. Since the purchase of real estate requires a large amount, you have to declare it by specifying the source of funds. When cashing travellers cheques there is a commission, and for Bank cards there is a daily limit of withdrawal, but this is not about cardholders of Sberbank, Denizbank doesn’t charge them a fee.

Payment systems. This is perhaps the fastest way to transfer money. For transfer of money you do not need to open an account, but have to pay a commission that ranges from 1% to 10%, depending on the amount transferred.

Become an owner of Turkish property with the “Multivilla” Company. Our specialists will offer you the best housing options at affordable price and do all paperwork.

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