An appraisal report is required on every overseas property sale (soon every sale in Turkey) from 15 February 2019. The report is prepared by two experts certified and validated by SPK. One of them reviews the plans, community registration information, and the Tapu office (title deed). They visit the property to make sure you are buying what is shown to you. The controller checks again if the house price comparisons and registration are correct. Both are sworn valuation experts under oath.
The government wants to have the market value of the property rather than relying on the declaration value. Previously a seller would declare much lower sales amount in order to avoid paying higher conveyance tax. Therefore a valuation report is used as an indicator of the property for tax calculation. One of them checks the plans, the registry info at the municipality and the Tapu (title deed) office. They visit the property to ensure that you buy the one which is shown to you. The controller double-checks whether the house price comparisons and registry are correct. Both are sworn valuation experts under oath.
The government wants to have the market value of the property rather than relying on declaration value. Previously a seller would declare much lower sales amount in order to avoid paying higher conveyance tax. Therefore a valuation report is used as an indicator of the property for tax calculation.
If you are planning to buy property in Turkey, you must be sure of the value of the property you plan to buy. There are two types of evaluation reports. Real estate appraisal and project appraisal with feasibility report.
A property valuation report includes:
– The property title information,
– Location information,
– Real photos,
– Similar real estate prices,
– Property price prediction
– Property debt check along with all other property details at the municipality,Land Registry and Cadastre General Directorate.
A property appraisal report may include other qualifications and conditions depending on your request and the characteristics of the property. Experts typically create their valuation reports using one of the following three methods, depending on the property’s specification:
Comparison of the smilar method: The property is compared between several similar properties
Income method: Checking net income of the property.
Cost method: Rebuilding the same structure under current economic conditions
Property Anatolia works with independent valuation experts licensed by SPK (Capital Market Board) which Turkey’s largest financial and banking regulator. We call them SPK validated experts in Turkey. These experts are licensed for property appraisal in Turkey and project appraisal in Turkey.
We are able to provide you with accurate valuation reports throughout SPK experts. Auditors are authorized and authorized to produce the following types of reports.
– House / villa valuation or apartment valuation,
– Valuation of commercial buildings, offices, shops, shopping centers and shops,
– Valuation of all type of lands,
– Valuation of all type of hotels,
– Valuation of urban renewal
– Company valuation.
You have a project and you want to know how to develop it in the most efficient way. The project valuation is again prepared by real estate experts who provide a feasibility report in Turkey.
A feasibility report contains:
– Financial analysis,
– Cash flow from project expenses,
– Income flow of the project,
– Legal conditions,
– Legal permits and transfers,
– Construction permits.
By evaluating the project, you can understand if your investment is feasible or not. A feasibility report may be required for the following investment projects:
– Investments in land,
– Hotel investments,
– Commercial investments and shopping malls,
– Investments in residential construction
– Agricultural investments
– Industrial investments.
For example; Maybe you want to develop a hotel project or buy an existing hotel in Turkey. When you get this project valuation report you will receive the following information:
– The land price estimate, the property and location information on the map with the location information,
– Debts reports, verification of the technical information from the Municipality and Cadastre General Management,
– Project development costs,
– Construction costs and operating costs,
– The financial relationship with the flows of income and expenses,
– More feasible investment proposals and alternative projects
When you buy a property from HomeZ, we will help you organize this document in 2 days as a sales service. As we assure you that you are offering the best price guaranteed, all of our real estate listings on our website include pre-appraisal reports.
In metropol cities of Turkey, a property appraisal report lasts 3 days. Other cities may take another 3 days (6 days total). The hotel review report takes approximately 15 days, depending on the city.
You can request information about the report delivery time for other reports, such as project evaluation and feasibility, land price valuation, company evaluation, brand evaluation. etc. These reports can last from 2 weeks to 1 month.
If you are buying property in Turkey as a foreigner, it is mandatory to have an appraisal report to get the title from the General Directorate of Property Registration and Land Registry (Tapu Office).
If you request a professional appraisal report, the experts will check the property themselves. They take the photos and check the record at Tapu’s office. Finally, they review the plans registered in the municipality. Experts collect comparison prices. A report contains between 20 and 35 pages. Preparation takes 2 days.
After selecting a property at Property Anatolia, we directly contact an expert for fast and reliable service.
The cost of a validated SPK appraisal report will vary depending on the characteristics of the city and property
Property Anatolia offers this service free of charge to its customers.
According to the property law, the Tittle Deed office wishes it to be no more than 3 months old. In case the report validation period elapses, we help our customers to renew it free of charge after 3 months.
The property valuation service is established in 5.2.2019. The appraisal report and property sale price statistics are very new in Turkey. We are now in a very early period. As we do not have a large database, reporting accuracy can be up to 20%.