Preliminary Costings for Prospective Clients

Development: MY BLUE IN GUNDOGAN BODRUM

Payment Terms: Reservation fee £3,000 30% less the reservation fee 30 days later, 30% 01.09 2009, 30% 01.09 2010, 10% 28.02 2011 with delivery of the Title Deed.

Acacia International will transfer the funds as per the conditions of this sales and construction agreement and according to the instruction received from Network Turkey.

Legal Professional fees £900 - No VAT applicable

Legal expenses:    

Power of Attorney fees: £300 approximately

Military search application costs: These expenses will be checked with the related municipality before each transaction as the total cost varies depending on the decision of each municipality. 

Land Registry fees £200 approximately

Client share of property transfer tax:  3% of the value of the property to be declared on the title deed

Bank charges:  £50 each subsequent stage payment

Courier costs (for sending Power of Attorney) £50

Courier fees (for sending title deed) £50

DASK (compulsory earthquake insurance premium) £50

Notes:

Bank Charges: Payments for the first 30% will be made to Acacia International Client account. They will only be released to the seller after signing of the contract by the parties and according to the instruction received from Network Turkey .

Bank transfer charges to the seller will be £50 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. 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 sample wording for power of attorney is included in our fees. there are however costs in having the completed power of attorney translated into Turkish and then notarized in Turkey.

Military Search: This is a search carried out by the local military authorities on both the proposed foreign purchaser and the property which they intend to buy. This search is mainly a formality but normally takes 3-5 months to be processed.

The military permission should be issued well in time before the time for completion. The application for military searches will only prove negative and permission withheld if the property is located in a restricted zone prohibited to foreigners or if the buyer has a serious criminal record in Turkey (although not necessarily overseas).

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.

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.

All costs are shown as British pounds sterling. However should you prefer payment in Euros please let me know and I will provide you with a Euro costing.