Valuation Report

Since 15.02.2019, it has been compulsory for property being sold to a foreign purchaser in Turkey, to have an appraisal (valuation).  This will soon apply to all property sales, whether being sold to a foreign or Turkish purchaser.

Turkish Government by making some new changes aims to protect the foreign investors and  it is  now compulsory to obtain a valuation report before you buy and sell your property.Investors will have a clear idea about the prices in the market after obtaining their valuation report.

The government wants to have the market value of the property rather than relying on that declared  value by the seller.  Historically, a seller may have declared a much lower value, in order to avoid paying a higher  taxes. 

The valuation report is used as an indicator to calculate the correct ‘Property Tax’.   A copy of the report is kept at the General Directorate of Land Registry and Cadastre (Tapu Office).

 

The Report

This is prepared by SPK (Sermaye Piyasası Kurulu), The Capital Market Board,  accreditated appraisers:

  • checks are made of the plans and the registry information at the municipality and Tapu office
  • the property being sold is visited
  • information relating to the property is double checked
  • the valuation and asking price for the property is established

The Real Estate valuation report contains:

  • the title deed information
  • location information
  • actual photographs
  • similar property prices
  • price prediction of the property
  • checks as to any outstanding debts

The report may contain more, depending on any special requirements of the purchaser and property featurers. SPK validated report is approximately 1,000 – 1,500 TL + VAT.  This is paid by the person who commissions the report. When you purchase a property with us, we will help you to arrange this document as part of our sales service, in 2 days.  As a private estate agent, we deal with independent licensed valuation experts, so can ensure that this report is prepared and delivered on time. 

 

PROJECT VALUATION WITH FEASIBILITY REPORT

  • If you have a project and want to know how to develop it efficiently, we can help you to identify its business potential.
  • We will advise you on the process of acquiring a project evaluation and feasibility report.  Projects you may be considering may include:
  • Land investments
  • Hotel investments
  • Commercial and shopping mail investments
  • Residential and housing development investments
  • Agricultural investments with crop and harvest analysis
  • Industrial investments

 

A feasibility report contains:

  • Financial analysis
  • Project expenditure cash flow
  • Project income flow
  • Legal due diligence
  • Legal permission and allowances
  • Ownership rights
  • Construction permits

We would be more than happy to speak to you regarding any of the above.   Please contact us directly to discuss a price and time quote for real estate valuation and/or project feasibility report.

 

 

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