What is meant by the real estate appraisal report in Turkey?

We will explore what is meant by the real estate appraisal report in Turkey and its importance in the process of buying real estate and real estate investment and we will take a deep look at the content of the report and how it contributes to understanding the value of the property and accurately estimating the price. We will also discuss the reasons why obtaining a real estate appraisal report is necessary to ensure the safety and success of your real estate transaction in Turkey.

 

 

 

Real estate appraisal or real estate valuation is a legal document of great importance when buying a property in Turkey, as it is a vital tool for understanding the condition of the property to be purchased and determining its true value in the Turkish real estate market during the sale period.

The real estate appraisal document is a detailed report prepared by professional experts, which determines the market value of the property according to specific criteria and this report is considered one of the official papers necessary to complete the transactions of tapu registration "title deed" during the process of selling real estate to foreigners in Turkey.

 

For those wishing to obtain Turkish citizenship by purchasing a property, the real estate appraisal document is compulsory and necessary to determine the true value of the property through the evaluation of specialized experts and this assessment contributes to ensuring the success of the purchase process and providing accurate information to investors wishing to obtain Turkish citizenship through real estate investment.

 

 

Independent companies that are officially licensed by the Banking Regulation and Supervision Agency (BDDK) are requested to prepare the real estate appraisal report and this government institution is responsible for publishing a list of approved companies to provide real estate appraisal reports on its website.

 

 

It is worth noting that dealing with any individual, company or entity that is not included in the list of approved companies will not be recognized and its report will not be accepted in completing real estate ownership procedures in Turkey and therefore, it is advised to make sure that the company from which the report is requested is included in the official list of real estate appraisal companies by BDDK before proceeding with the real estate appraisal process and buying a property in Turkey and this action ensures that the report will be correct and legal and will be recognized later in the legal proceedings and cadastre.

 

 

 

1. It includes the engineering plan of the property and details of its net area, and in the event that the property is residential, it will include the distribution of rooms and public facilities and their areas.

2. The deed includes the ownership and detailed information about the real estate registry related to the deed.

3. The appraisal report includes comprehensive photos of the property from the inside, showing its condition and current condition, and photos of the building containing the property from the outside.

4. It includes detailed information on the title deed and any other relevant details.

5. The report displays the location of the property on the map and its geographical coordinates.

6. The evaluation includes the value of the property in official currencies to facilitate investors of all nationalities.

7. This part includes the verification of the legal aspects related to the property by the company responsible for the evaluation.

8. The report presents information about legal permits related to the construction and housing of the property.

9. This section provides an estimate of the expected return from renting the property.

10. In this part, similar real estate prices are compared in terms of style, region, and all variables to determine the fair value of the real estate.

11. This part includes information about any debts or financial obligations that may be associated with the property.

12. The report includes the approval of the Directorate of Geographical Survey on the validity and credibility of the assessment.

What are the advantages of obtaining a real estate appraisal report in Turkey?

1. The report works to prevent real estate fraudsters from inflating real estate prices and selling them at inflated prices.

2. Providing a real estate appraisal report increases the level of satisfaction and confidence of investors who want to invest in real estate in Turkey.

3. The foreign investor who is looking to obtain Turkish citizenship in exchange for a property is given confidence that the value of the purchased property reflects the true value and can be invested in in the future.

 

 

 

The report is required to ensure the integrity of real estate deals and to determine the true value of the property, in order to protect the buyer and seller and ensure that the deal is settled in a fair manner.

 

The report contains detailed information about the property, such as the engineering plan, net area, technical and legal condition of the property, and an estimate of its market value.

 

Yes, the report must be prepared by a company licensed by the Banking Regulation and Supervision Agency (BDDK) in Turkey