Anglo – Turkish Law

Preliminary Costings for Prospective Clients

Development : Eviva Residence

Due upon signature of the contract

First instalment of the purchase price

Our legal fees £990

Power of Attorney fees £400

Courier costs (for sending Power of Attorney) £60

Courier costs (for sending Contract) £60

Bank charges £65

Completion

Balance of the purchase price

Client share of property transfer tax (1.5% of the value of the property to be declared on the

title deed)

Land Registry fees £250

Courier fees (for sending title deed) £60

DASK (compulsory earthquake insurance premium) £50

Notes:

Bank Charges : Where we are required to make any payment on your behalf to the seller, bank

charges in connection with this will be £65 per transfer and payable by you.

Power of Attorney : This is the document appointing our lawyers to act as your legal

representative. This enables us to take care of everything in connection with your property

purchase without you ever having to come out to Turkey. Until we commence the military

search application we do not need the power of attorney. The search of the Land Registry

records and planning department details can be undertaken by our lawyers at the outset

without a power of attorney. The cost of preparing the power of attorney is included in our

fees. There are however costs in having the completed power of attorney translated into

Turkish and then notarised in Turkey. Notary costs are relatively expensive in Turkey as most

of it is actually a tax paid to the Turkish government.

Property Transfer Tax : This is a tax payable whenever any property in Turkey changes

ownership. It is levied at a rate of 3% of the value of the property to be declared on the new

title deed showing you as the new owner. Under the terms of the contract this tax is to be split

equally between you and the seller. The seller may choose to declare a lower figure than the

figure contained in the sales contract but I normally recomend declaring an amount not less

tha 75% of the actual price.

Please note that these are current rates and charges and are liable to change. Whilst our fees

will not alter, some of the official taxes and charges payable to the Turkish authorities may

alter between now and scheduled completion in 2010.

All costs are shown as British pounds sterling.

Best Regards,

Kevin Hood

Independent Legal Consultant

BA Law (Leeds)