Real estate valuation: it is now mandatory to obtain a report (property value assessment) for every property sale to foreigners starting from 15.02.2019.
The report is prepared by two SPK certified appraisers. Both appraisers are sworn and certified،
One of them checks the plans and registration information at the municipality and the real estate registration office or the Tapu, to make sure that the registered information is correct and that the registered property is correct, they visit the property, and check whether the value and price of the property and the registered price match.
The government wants this measure to get the market value of the property instead of relying on the declared value،
And thus determine the real value of taxes, in addition to the great benefit to the foreign buyer as he submits a report that includes everything related to the property.
The report takes two days to prepare, so when we request a real estate appraisal report, the expert examines the property himself،
He takes photos, controls the registration in the title deed. Finally he checks the plans registered in the municipality, after which the expert collects comparative prices.
The report consists of 20 to 35 pages and the cost of real estate evaluation is between 1000 to 1300 Turkish Liras.
The real estate appraisal report contains:
– Title deed information, location on the map and its information, real estate photos, prices of similar properties،
The approximate value of the property, checking the debt status, checking the technical conditions in the municipality and the housing condition and in the land registry and the General Directorate of real estate registration.
