A new era in buying and selling real estate is beginning.

Real estate expert Mustafa Hakan Özelmaçıklı stated that starting from July 1, 2023, real estate transactions can be conducted not only at land registry offices but also with notaries, with an additional notary fee. According to Ihlas Haber Ajansı, a new era in real estate buying and selling has begun. This means that from July 1, 2023, buyers can now also conduct transactions with notaries by paying the appropriate fee.

The CEO of Altın Emlak, Mustafa Hakan Özelmaçıklı, emphasized that such changes were recorded in the sixth package of judicial reform, which was presented last year. Initially, it was planned that these rules would come into effect on January 1, but they were postponed until July. With the introduction of this rule in the new law, notaries will have the opportunity to conduct real estate sales transactions. It is expected that from this point on, notaries will be able to draft purchase and sale agreements for properties.

Application process

To submit an application, you will need to use the electronic service.e-appointment/applicationon the platforme-GovernmentAccording to the notary service fees for 2023, notaries will charge a fee for drafting a sales contract in the amount of0.1%from the sale price of the property. However, the minimum notary fee cannot be less than500 TLand no more4000 TLIn addition to these expenses, citizens will continue to pay the property transfer tax and other contributions.

How will the application process work? Mustafa Özelmaçıklı indicated that you will need to apply through the app.e-appointment/applicationwhich is available on the website of the Turkish Notary Association. First, it is necessary to select the property from the list, after which the identification details of the parties must be entered, including names, addresses, and contact information. It will also be required to specify the tax assessment of the property and the price agreed upon by the parties. In cases where the buyer is a foreign citizen, it will be necessary to indicate the amount in lira that is recorded in the document for the purchase of foreign currency.

All documentary evidence will be uploaded to the system.TNBBSOn the designated day and time, the parties must provide the originals of the uploaded documents to the notary.

Preparation of the contract

During the preparation of the agreement, the notary will send the prepared contract to the Main Department of Cadastre and Registrars.TAKPASThe information about the registered property will be verified in this system. If the documentation is insufficient, requests will be sent to the land registration office. Once all necessary documents are collected, the notary will carry out the procedure, check the existing laws and regulations, determine the owner's rights, and, in the absence of obstacles, prepare the agreement. The amount of the property transfer tax and other fees will be communicated to the notary. In turn, the notary will notify the parties about the time and date of the contract signing via text messages.

Potential difficulties

It should be noted that certain difficulties may arise in the new process, as Mustafa Hakan Özelmaçıklı warns. Additional fees for notary services, the possibility that not all notaries will be able to start the system simultaneously, and the extension of the system's launch deadlines – all of this could lead to delays in the process. This may be particularly relevant in large cities where there is high activity in real estate transactions. It is important to note that notaries are responsible for any losses that may occur during the contract execution, and if the losses are covered by the state, there will be a recourse to the notary who drafted the contract. How this will affect notaries' willingness to carry out processes remains an open question.