1. Preparation (Week 0)
Budget and goals are clarified, and if a mortgage is needed, pre-approval is obtained (usually 48 hours). Passport, income documents and bank statements must be apostilled and translated. A solicitor (property lawyer) is selected and KYC is completed.
2. Reservation (Weeks 1-2)
A reservation fee of £5,000-£15,000 locks the unit for 28 days. During this window the Memorandum of Sale is drafted and formal correspondence between the two sides' solicitors begins.
3. Searches & Due Diligence (Weeks 2-6)
Your solicitor runs Local Authority, drainage, environmental and planning-permission searches. In parallel, the mortgage application moves to formal valuation. The title deeds are reviewed in detail.
4. Exchange of Contracts (Weeks 6-8)
If all checks are clean, both sides sign and a 10% deposit is paid. Withdrawing from this point is penalty-bearing — the contract is now binding. The completion date is set.
5. Completion (Weeks 8-16)
On the agreed date the remaining balance is transferred, keys are handed over, and the title is submitted to HM Land Registry (registration takes about 15 days). SDLT (Stamp Duty) is paid at this stage.
Frequently Asked Questions
+ Do I need to be in the UK during the process?
No. All signatures can be done from Turkey via a notarised Power of Attorney. You may travel to collect keys at completion if you wish — that's optional.
+ Can it take longer than expected?
Yes — if there are mortgage approval or searches issues, the process can extend to 20 weeks. Off-plan projects can take 2-3 years depending on construction.
+ At what point do withdrawal penalties apply?
Up to Exchange of Contracts, withdrawal is free (you only lose the reservation fee). After Exchange, you risk losing the 10% deposit plus damages.