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Valuation Report Requirement in the Purchase and Sale of Real Estate in Turkey

New Era for Turkish Title Deeds

Istanbul property value rise

On which date the request of the valuation report started, to be able to make transactions for foreigners in the deed?

After 04.03.2017, foreign real persons are required to have their valuation report prepared and approved in accordance with the procedure before the purchase and sale of the title deed.

For which transactions are required to prepare a valuation report?

For all of the sales transactions of foreigner persons, a valuation report will be sought. The valuation report shall not be used in the purchase or sale of the real estate of the companies or companies of foreign natural persons or their partners.

What is the purpose of this regulation?

The valuation report shows the market value of the real estate. It is the basis for determining the real value of the property and creating the value map by using these data according to the needs.

Will we pay the trading fee of the property according to the appraisal report when we trade in the deed or will we pay according to the amount of the sales amount we declare?

As before, the trading fee of real estate will be paid on the declared transfer price of the real estate, not less than the real estate tax value.

What kind of problems do we encounter if the real estate is declared in the title deed less than the actual purchase price?

First of all, the real price should be declared when you declare the price in the title deed. If the immovable is taken through the bank or by credit, then the declaration of the actual price is required.

In the case of the determination of the price in the title deed from the actual value of the sale, the determination of the precedent may be made in the examinations. If there is a difference between the value of the examination and the declared value, it may also be necessary to pay the default interest on the missing tax.



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