What is real estate appraisal in Turkey

Real estate appraisal is a detailed report that shows the market value of the property according to specific criteria. It is also one of the official papers necessary to complete the registration of title deed transactions in real estate sales to foreigners in Turkey, and it has a special importance in the issue of determining the value of the property that gives its owner the right to apply for Turkish citizenship, as it is issued by reliable companies assigned by the Housing and Construction Department of the Turkish government, and aims The report is to preserve the real purchasing value of the property and guarantee the rights of the investor customers in Turkey. In the real estate appraisal report, all the details related to the property to be purchased are clarified, starting from the selected city, down to the neighborhood and the street in which the property is located. The condition of the property, its age, its area, its view, and the services attached to it are also addressed. ending with the legal status.

The time to obtain the real estate evaluation or valuation document takes a period ranging from 4 days to about a week after submitting the application to the competent company, including the period for the real estate evaluation report to arrive by mail. The real estate appraisal document is valid for a period of three months from the date of its issuance, and whoever wants to sell the property before the expiration of the period of appraisal of his property can use the same document again as long as it is valid and the period allocated for it has not expired.

Real estate appraisal today is one of the most important documents required by the Turkish government in case the foreign investor wants to obtain the title deed for the property to be owned.

Real estate appraisal steps:

The evaluation process takes place by submitting an official request electronically in order to evaluate the property, then the Title Deed Department nominates a list of evaluation companies accredited by the Turkish government so that the person concerned or his agent chooses one of them, and the evaluation fees are fixed and unified for all real estate evaluation companies and in all Turkish states. Where A price list for evaluation services is issued in which the official fees for real estate evaluation are determined according to its type and area.

Determine the validity period of the report:

The legal period for the validity of the evaluation report that a foreigner obtains when applying to buy a property in Turkey with the aim of obtaining Turkish citizenship is three months.

The appraisal report made upon submitting the application for the purchase of real estate will be valid for use in all transactions related to the ownership of real estate applied for during the validity period of the report.

Old rating sufficiency:

In transactions undertaking not to sell for a period of 3 years in order to obtain Turkish citizenship in exchange for a property, the foreigner will not be asked for a new appraisal report other than the one submitted when requesting to buy the property, even if the old real estate appraisal report exceeds its legal period of three months.

What is the importance of real estate valuation in Turkey?

The importance of the real estate appraisal in Turkey is evident in several aspects, as it is not possible to obtain Turkish citizenship without the real estate appraisal. The real estate appraisal report is a necessary condition for obtaining the title deed, and therefore those who did not receive this report are not entitled to own real estate in Turkey.

What are the advantages of real estate valuation in Turkey?

The advantages of the real estate appraisal report can be summarized in the following points:

1. Preventing price gouging with the aim of preventing real estate fraudsters who want to sell cheap real estate at exorbitant prices.

2. Increasing the level of comfort and safety for those wishing to invest in real estate in Turkey.

3. Granting confidence to the foreign investor wishing to obtain Turkish citizenship in exchange for a property, that the property he bought is equal to the offered value and that he can invest in it in the future and make profits commensurate with its price.

Who is responsible for real estate valuation in Turkey?

The Title Deed Department is the main reference for a foreign investor to submit a real estate valuation request. The Title Deed Directorate appoints real estate appraisal companies to prepare foreign real estate appraisal reports in Turkey.

Is real estate appraisal mandatory for all types of real estate in Turkey?

Yes, and this is not only for those who apply for Turkish citizenship after buying real estate, but for those who buy and sell real estate from foreigners in Turkey in general.

Is it possible to apply for Turkish citizenship through a property without a real estate appraisal?

It is only possible to evaluate the property and obtain an appraisal certificate

Is real estate valuation in Turkey in dollars or Turkish lira?

in Turkish lira.

We, as MBANY Real Estate Company, provide these services through a team specialized in real estate in Turkey.