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Old 30th March 2011, 14:55   #1 (permalink)
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Selling Costs?

Hi, We are looking at selling our apartment which we have owned for 7 years. Am I right in thinking there will be no capital gains tax for this length of ownership? Are there any costs involved or is everything paid by the buyer?

7 years feels like such a long time ago, we can't remember where we went or who we saw. We have a serious private buyer so won't have the assistance of an estate agent.

Many thanks.
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Old 30th March 2011, 15:08   #2 (permalink)
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Re: Selling Costs?

It is not how long you own your property it is from the time you have your Tapu, was 5 yrs not sure if it is still the same now, Jim
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Old 30th March 2011, 15:24   #3 (permalink)
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Re: Selling Costs?

Let the buyer pay if there is any costs... since there is no real estate .. the must be costs to the Tapu office... Just talk about it and find a way that is good for you both.
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Old 30th March 2011, 15:51   #4 (permalink)
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Re: Selling Costs?

If you're a Bodrum Bulletin Premium Content subscriber, there's a calculator HERE which will give you a breakdown of the costs involved in buying and selling, based on your buying/selling value.

If you're not a subscriber, here's a rough breakdown of the common costs associated with selling property (not all will necessarily apply to you):
  • Real Estate Sale-and-Acquisition Levy: 3.3% of TAPU value (common for buyer to pay total cost)
  • Solicitor fees: around 1,000TL (if appropriate)
  • Notary Fees to legalise transfer: around 300TL
  • Translator at Notary (if not a Turkish Citizen): around 120TL
  • Estate Agency Commission: typically 3% per party (if appropriate)

If a property is sold 5 years after the TAPU date, then no Capital Gains Tax is due.

As suggested above; without an agent or solicitor, and if you can convince the buyer to pay both sides of the levy, costs will be just those at the notary.

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Old 30th March 2011, 16:10   #5 (permalink)
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Re: Selling Costs?

I went thru a similar scenario a couple of months ago in Bodrum. Only costs were translator fee of 60 tl at the Tapu office and my portion of the sales tax.
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Old 30th March 2011, 20:27   #6 (permalink)
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Re: Selling Costs?

Thanks everyone for the information, its made everything much clearer. We received the tapu 7 years this July, thankfully the whole buying process went very smoothly for us.
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