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Old 12th April 2019, 06:37   #51 (permalink)
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Re: New property valuations for foreign buyers

It is required when a foreigner is buying or selling��
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Old 12th April 2019, 11:27   #52 (permalink)
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Re: New property valuations for foreign buyers

On the topic of property sales to foreigners, does anyone know if a foreigner can now buy in a village that is outside a designated Belediye area? At one time they could not, but the law may have changed recently.
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Old 29th May 2019, 16:02   #53 (permalink)
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Re: New property valuations for foreign buyers

Well, here we go. I said I would post after we'd put our 1st sale through that required the new Valuation Certificate. It was very simple and straightforward and most importantly, everyone is happy, our Iranian buyer has his Tapu and our Norwegian seller has the proceeds from the sale, safely in her bank.

Sale agreed on 13th May. Contract of Sale drawn up and deposit paid. The next day we submitted the application for Valuation Certificate as required by the new law. The only paperwork asked for was a copy of both the Tapu and the Buyer's Passport. The seller paid the 1,500T.L. cost, and,10 days later, 23rd May we picked up the Valuation Certificate, showing the minimum that the property could be sold for at 200,000T.L. Yesterday, 28th May, both our buyer and seller returned to Turkey to complete the sale.
The balance of the cash was left in our office safe, all paperwork was handed over at the Tapu Office this morning and the new Tapu was handed over this afternoon.

All done and dusted, now we have to find a similar little place for out buyer's brother. Fingers crossed!!
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Old 29th May 2019, 22:29   #54 (permalink)
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Re: New property valuations for foreign buyers

Quote:
Originally Posted by Freedom 49 View Post
Well, here we go. I said I would post after we'd put our 1st sale through that required the new Valuation Certificate. It was very simple and straightforward and most importantly, everyone is happy, our Iranian buyer has his Tapu and our Norwegian seller has the proceeds from the sale, safely in her bank.

Sale agreed on 13th May. Contract of Sale drawn up and deposit paid. The next day we submitted the application for Valuation Certificate as required by the new law. The only paperwork asked for was a copy of both the Tapu and the Buyer's Passport. The seller paid the 1,500T.L. cost, and,10 days later, 23rd May we picked up the Valuation Certificate, showing the minimum that the property could be sold for at 200,000T.L. Yesterday, 28th May, both our buyer and seller returned to Turkey to complete the sale.
The balance of the cash was left in our office safe, all paperwork was handed over at the Tapu Office this morning and the new Tapu was handed over this afternoon.

All done and dusted, now we have to find a similar little place for out buyer's brother. Fingers crossed!!
Its been a long day so I may not be firing on all cylinders but what is this 200,000 tl figure. Is it the minimum declared value for tax and if so how does it differ from the old system other than the presentation format. In other words, how is this new system adding value to the buying process?
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Old 30th May 2019, 06:44   #55 (permalink)
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Re: New property valuations for foreign buyers

I realise that you are not able to disclose the actual sale price F49, but does the
200 000TL reflect the actual price much better than the old 'Belediye' valuation?
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Old 30th May 2019, 09:42   #56 (permalink)
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Re: New property valuations for foreign buyers

Quote:
Originally Posted by IbrahimAbi View Post
I realise that you are not able to disclose the actual sale price F49, but does the
200 000TL reflect the actual price much better than the old 'Belediye' valuation?
It certainly does Ibrahim.
This Valuation Certificate showed that the property in question could not be sold for less than 200,000T.L. That was fine because the Sale Price agreed between Buyer and Seller was 230,000T.L. and the Contract of Sale showed that.

We still had to take the Beyanname (No debt Certificate) from the Belediye to submit with all paperwork to the Tapu Office to show that Council Taxes were paid up to date to include this year. The Belediye showed a value of 100,000T.L. on that paper which relates to the minimum value that can be shown on the Tapu for the new owner.

Our buyer was Iranian, happy to have just 100,000T.L. on his Tapu because it kept his Tapu Tax to a minimum, equally happy with having seen the Valuation Certificate showing a minimum 200,000T.L. as the true value of the property that he'd bought.

The Tapu office manager declared 100,000T.L. on his Tapu. Everyone happy at the end of the day.
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Old 30th May 2019, 16:04   #57 (permalink)
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Re: New property valuations for foreign buyers

The law on property transfer is clear; tax is due on the sales transfer price. Previously the Tapu office would leave the fiddling to the buyer and seller to declare a false value. Now they know the minimum selling price why would they choose to fiddle the government out of tax and leave themselves exposed to sanctions.
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Old 30th May 2019, 16:16   #58 (permalink)
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Re: New property valuations for foreign buyers

The Belediye showed a value of 100,000T.L. on that paper which relates to the minimum value that can be shown on the Tapu for the new owner.

Our buyer was Iranian, happy to have just 100,000T.L. on his Tapu because it kept his Tapu Tax to a minimum, equally happy with having seen the Valuation Certificate showing a minimum 200,000T.L. as the true value of the property that he'd bought.

The Tapu office manager declared 100,000T.L. on his Tapu. Everyone happy at the end of the day.


So it's ok for the tapu office to connive with the buyer and seller to reduce the amount of tax his/her employer (Belediye) can collect for the benefit of the community?
Shome mishtake, shurely????
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Old 30th May 2019, 20:02   #59 (permalink)
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Re: New property valuations for foreign buyers

Quote:
Originally Posted by Kanga View Post
The Belediye showed a value of 100,000T.L. on that paper which relates to the minimum value that can be shown on the Tapu for the new owner.

Our buyer was Iranian, happy to have just 100,000T.L. on his Tapu because it kept his Tapu Tax to a minimum, equally happy with having seen the Valuation Certificate showing a minimum 200,000T.L. as the true value of the property that he'd bought.

The Tapu office manager declared 100,000T.L. on his Tapu. Everyone happy at the end of the day.


So it's ok for the tapu office to connive with the buyer and seller to reduce the amount of tax his/her employer (Belediye) can collect for the benefit of the community?
Shome mishtake, shurely????
Then shout about it when they are caught .
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Old 31st May 2019, 08:11   #60 (permalink)
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Re: New property valuations for foreign buyers

Quote:
Originally Posted by jearden View Post
The law on property transfer is clear; tax is due on the sales transfer price. Previously the Tapu office would leave the fiddling to the buyer and seller to declare a false value. Now they know the minimum selling price why would they choose to fiddle the government out of tax and leave themselves exposed to sanctions.
The Tax to be paid by the buyer is assessed from the value to be declared on the new Tapu which hardly ever relates to the actual price paid for the property.
If the buyer asks that the full Sale Price be declared on his Tapu, no-one has a problem with that and the buyer will pay more Tax accordingly.
We can only work within the system and if all agree to declare the minimum figure, or something a little above the minimum figure put forward by the Belediye on the 'No Debt Certificate', then that is what the Tapu manager shows.
Providing that the seller has held the original Tapu for more than 5 years, it makes no difference to them as there would be no CGT to pay.

I wouldn't be at all surprised to see a new law coming into place over the next 12 months or so to ensure that both values on the new Valuation Certificate and the Tapu are brought more in-line with each other.

Meanwhile, as I said, we can only work within the system in place at the moment.
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