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Go Back   Turkish Living Forums > Turkish Property Forum > Buying property in Turkey & North Cyprus > Buying cost

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Old 8th February 2011, 14:47   #1 (permalink)
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Property Transfer Fee Calculator - Testing required

I have developed an online calculator to help identify the costs involved with buying and selling property in Turkey.

Although the calculator is setup for the Bodrum region, most of the fees should transfer to other areas of Turkey.

I am looking for a couple of willing testers to give the calculator and provide me with some feedback on ease of use, estimations etc... I would also be interested to hear if there are other fees that need to be added to the calculator.

Please understand that the calculator does not provide 'exact figures', but ball-park figures.

If you are interested in testing, please visit the calculator here:
Property Transfer Fee Calculator

Note that the testing period will only last a short period of time.

Many thanks,

Dave.
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Old 8th February 2011, 15:08   #2 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

Very useful Dave.

Not in need of it myself but am sure it will be well received by those who do need to figure out the expenses involved in property buying and selling. Also good that people can have a rough idea of these charges and avoid the less scrupulous who might attempt to overcharge for these services.

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Old 8th February 2011, 16:31   #3 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

A great idea for purchasers. Would be more universally useful if currency options were given by adding Turksih Lira, Euros and Dollars.
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Old 8th February 2011, 18:56   #4 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

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Originally Posted by abba View Post
A great idea for purchasers. Would be more universally useful if currency options were given by adding Turksih Lira, Euros and Dollars.
That's a good point, and one I did consider; however having all currencies available means having to regularly update the exchange rate. At least with just one currency it's easier. Perhaps exclusively having Lira would be a better option.

Dave.
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Old 8th February 2011, 19:24   #5 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

Seems to work Dave, calcs look fine.
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Old 8th February 2011, 19:24   #6 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

I fully understand the dilemma regarding updating. At least, if Lira was used, it would give the users the options to then convert externally to their currency of choice. In most cases all payments would more than likely be in TL
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Old 9th February 2011, 09:46   #7 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

Just do away with the gdp sign and let people put in the cost as a fiquire it should work out the same if you then convert using your own currency
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Old 9th February 2011, 11:34   #8 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

Quote:
Originally Posted by dngood View Post
I have developed an online calculator to help identify the costs involved with buying and selling property in Turkey.

Although the calculator is setup for the Bodrum region, most of the fees should transfer to other areas of Turkey.

I am looking for a couple of willing testers to give the calculator and provide me with some feedback on ease of use, estimations etc... I would also be interested to hear if there are other fees that need to be added to the calculator.

Please understand that the calculator does not provide 'exact figures', but ball-park figures.

If you are interested in testing, please visit the calculator here:
Property Transfer Fee Calculator

Note that the testing period will only last a short period of time.

Many thanks,

Dave.
I'm not sure you have the fees quite right, but looks a very very good idea. I'm going on the buyer side (more experience of it!).

Solicitor fees look heavy to me, I would say GBP400 max for this

you need to add capital circulation tax to the real estate levy bit (150 TL)

military search should be no higher than about 800 lira max - so GBP1,200 is far too high, I have never paid more than this.

power of attorney I did one in Turkey recently and only paid 150 lira, not GBP, but in the UK probably GBP150 I would think.

Translators in Didim are charging 70 lira (paid recently).

I think lira would be better than maybe add an exchange button where the person coudl put in a rate and then find out gbp amount?
well done, brilliant idea
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Old 9th February 2011, 13:39   #9 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

Hello

Please find below the approximate disbursements payable by a Buyer on a property purchase in the Aydin province (e.g. Altinkum, Akbuk etc)


1. Army Search - this search is extremely important,
and necessary, to ensure that the land is capable of
being legally and properly transferred to you £350.00
(needed at the beginning)

2. Notary’s fee for stamping a Power of Attorney/Sale
Contract and also the fee for the Legal Translator £150.00
(needed at the beginning)



3. There is also a 3.3% Government Transfer Tax
which is payable at the TAPU Office on transfer of
Title Deeds (TAPU) into your name. The actual
amount of the tax is dependent on the purchase
price of your property. However you will often find
that the actual figure which the builder will place on
the TAPU is usually much less than the actual
purchase price (at present this is very common practice
here in Turkey) thus meaning that you pay a lesser figure
for this particular tax. To be advised
(needed at time of transfer)

e.g. purchase price 30,000TL x 3.3% = 990TL

4. Stamp Duty (payable on all property purchases) 135.00 TL
(needed at time of transfer)

5. Fee for Agent in attending to all work involved in
the preparation of the TAPU, ready for transfer 150.00 TL
(needed at time of transfer)

Additional expenses (for all new Buyers)

Registration of “new” electricity/water meters : -

Water (clean and dirty water/sewage services) 1,100 TL approx
Electricity 650 TL approx

(However if there is a Habitation Certificate for the
Property, then these figures will be much lower)

Simple change of name on the above meters £40.00 approx
(applicable in the case of a “re-sale”) each meter
Annual Council Tax (depending on the square meterage
of the property) £50.00 approx


Hope you find this helpful

Good work Dave - keep it up.
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Old 9th February 2011, 15:31   #10 (permalink)
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Re: Property Transfer Fee Calculator - Testing required

Hello
tried it and it says it will cost me £3,300 to sell my house in Turkey, yikes that is expensive...good calculator , cheers
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