Real Estate Valuation!
Obligatory Property Appraisal Report
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.
Real Estate Valuation Method
If you consider buying a property in Turkey, you need to be sure about the value of the property that you will buy. There are 2 types of appraisal reports; Real Estate Valuation and Project Valuation with a feasibility report.
A real estate valuation report contains:
>The title deed information,
>Location on map and location information,
>Similar property prices,
>Price prediction of the property
>Checking the debt condition, technical condition checks at the municipality and at Land Registry and Cadastre General Directorate.
Report Delivery & Expertise Areas in Turkey
When you purchase a property with MsMentorGroup, we help you to arrange this document as our sales service in 2 day’s. As we assure you to give Best Price Guarantee, all our property offers on our website have pre-valuation reports.
A property valuation report takes 3 day’s in the metropolitan cities of Turkey. Other cities may take an additional 3 day’s time (total 6 days). Hotel valuation report takes approximately 15 days time depending on the city.
You may ask report delivery time for other reports like project valuation and feasibility, land price appraisal, business valuation, brand mark appraisal, etc. These reports may take 2 week’s time up to 1 month time.
Q: Do I need an appraisal report?
A: If you purchase a property in Turkey as a foreigner, it is compulsory to have an appraisal report to get your title deed at General Directorate of Land Registry and Cadastre (Tapu Office).
Q: How long does it take to prepare the appraisal report?
A: When you demand a professional appraisal report, the experts check the property themselves. They take the photos, control the registry at the Tapu office. Lastly, they check the registered plans at the municipality. Experts collect comparison prices. A report contains between 20 and 35 pages. It takes 2 day’s to prepare.
Q: How may I find an SPK validated expert?
A: After you select a property with MsMentorGroup, we directly arrange for you an expert for fast and reliable.
Q: How much does a report cost?
A: The cost of SPK validated appraisal report varies depending on the city and features of the property. You can visit our up to date expenses page for detailed information.
Q: How much do you charge for your service fee?
A: Zero. MsMentorGroup gives this service free of charge to its customers.
Q: How long is a valuation report valid?
A: According to the property law, the Tapu office wants it not older than 3 months.
Q: What does SPK mean?
A: SPK is an abbreviation of Capital Market Board which means Sermaye Piyasası Kurulu in Turkish. It is the highest regulation authority of financing, stock exchange and banking in Turkey.