Real Estate Appraisal
Undoubtedly, real estate appraisal in Turkey is necessary for those wishing to own real estate. On February 15, 2019, the Turkish government issued a decision stating that foreign investors wishing to own real estate in Turkey must obtain a real estate appraisal report.
What is the real estate appraisal in Turkey?
Real estate appraisal in Turkey is estimating the value of the property and examining the property. It is also knowing whether the property is eligible for use or not. Moreover, the real estate appraisal is requested from several parties, including the Land Registry Department in Turkey (the Tapu Department).
Reasons for obtaining a real estate appraisal:
The Turkish government issued a law in 2019 stipulating that the foreigners wishing to own real estate in Turkey must obtain a real estate appraisal report from companies approved by the Land Registry Department in Turkey. This is to ensure that foreign investors will not face any legal problems because of their unfamiliarity with Turkish law.
Real estate appraisal in Turkey depends on several points, the most prominent of which are:
Real estate type (apartment, villa, shop, office, etc.)
The name of the applicant and the address of the property.
Detailed information of the title deed (the total area of the building, the area of the apartment, the property number, the floor and the apartment number).
The popular price per square meter and the price of the apartment.
Pictures of the building from the outside and inside.
Attach all building permits.
In addition, the construction should conform to Turkish specifications.
After issuing the real estate appraisal, the company organizing the real estate appraisal report sends an electronic copy to the Land Registry and Survey Department. Furthermore, a hard copy is delivered to the applicant. Thus, if the property conforms to the Turkish standards and it is eligible for use, you can get the Tapu regardless of the type of property.
For more information about the real estate appraisal and how to obtain it, do not hesitate to contact Ebla Real Estate in Bursa on the following numbers: