Turkish Living Forums - TAPU and House valuations

18th June 2006, 18:02	#11
Delia Delia	Re: TAPU and House valuations Can not see that, as if you totally refurbished a house surely you can sell it later at a higher price with no problems. What would they do if you bought a shell and did it up. What about the valuation then. Surely it would be worth more money than what you paid !!!!!

18th June 2006, 18:13

#12

immac

Senior Member Has-Been

Re: TAPU and House valuations

Quote:

Originally Posted by Delia

Can not see that, as if you totally refurbished a house surely you can sell it later at a higher price with no problems. What would they do if you bought a shell and did it up. What about the valuation then. Surely it would be worth more money than what you paid !!!!!

Yes, that is the definition of a Capital Gain.
Ian

Sponsored Links

6th December 2007, 08:38	#13
lynnn New Member	Re: TAPU and House valuations On the "satis bedeli" part the purchase price in ytl will be written down so on the title deed transfer day's euro&ytl rate will determine the purchase price in ylt but it is more or less "the contractual purchase price x 1.7" This is the answer I got from my solicitor when I asked about the price written on the Tapu

6th December 2007, 11:45	#14
Guz1 On a slow learning curve	Re: TAPU and House valuations Lynn, By "contractual purchase price" do you mean the actual purchase price as written in the sales contract, and is the "price x 1.7" simply a guideline for the current rate of exchange? Sorry if that's a stupid question.......sometimes it can take a sketchpad and crayons to get through to me.

6th December 2007, 14:57	#15
Dellol Senior Member	Re: TAPU and House valuations Hi all, i realise this thread was started a few years ago, but I am sure some people are still wondering about this. I can just speak of personal experience of several friends of ours who purchased in Turkey eg. You buy your property for 100k ytl, the Emlak charges you 5% Government tax, hence you pay 5k ytl and all other fees. Your Tapu states 50k ytl, you sign for your Tapu in the Tapu office, therefore agreeing to this figure, so the Emlak passes on 2.5k ytl to the Government. The Government are now cracking down on this, realising they did not get the full amount and chasing YOU, the buyer. You can say that you paid the full amount but you signed for the Tapu which stated 50k ytl so it is your problem. The fact that you have receipts from your Emlak is not their problem nor is it as straightforward as it should be, so hence the battle begins. I would like to state that this is not all Emlaks, but it has certainly happened to a few people we know, who are now trying to clear themselves with the local councils, so please be very aware. Lorna

6th December 2007, 20:27	#16
lynnn New Member	Re: TAPU and House valuations Ive been a bit der as I'm unsure aswell, will ask my solicitor but at least he knows that I know that wheeling and dealing is going on with the Tapu so hopefully he wont see me off! I have a house in Spain and it is common practise to do the same there and under value the house price on the deeds.As soon as I have an answer I will post it.

6th December 2007, 22:20	#17
Guz1 On a slow learning curve	Re: TAPU and House valuations Lorna, I have more than a passing interest in this. Have your friends been fined and, if so, how steep is the fine? Paying the fine and back-tax in Turkey might be preferable to being caught for capital gains tax at home on a profit we didn't make. We weren't present in the Tapu office for the change of ownership. We had given the Emlak power of attorney to cover emergencies (a close relative was dying) but had stressed that only a funeral would prevent us being present. Despite this, the emlak went ahead and used the POA and only told us about the change of ownership after the event. We have emails to the emlak stating that we wished to be present and one from the emlak telling us that the sale had already been completed. Do you know whether the Belediye would be more lenient in such circumstances?

7th December 2007, 10:08	#18
Dellol Senior Member	Re: TAPU and House valuations Hi Maria, All I know is that it is being dealt with at the moment. They have all the originals emails between themselves and the Emlak confirming price and taxes and receipts for same, so you would think it would be straightforward, but it isn't. They have had to get a Solicitor and it is in his hands now. As soon as I hear any more I will certainly keep you updated. It all comes down to the fact that on the day they signed for their Tapu, the lower figure is what was stated. I don't know how it will stand under your circumstances. It is very unfair when you know at the end of the day that you paid the correct figure initially. All: If you know of anyone about to purchase or sign for their Tapu, tell them to MAKE SURE that the figure on it is the exact figure they paid for their property. Lorna

7th December 2007, 11:20	#19
Martyn Senior Member	Re: TAPU and House valuations And keep copies of all transactions etc for future proof of what you paid and when.

7th December 2007, 11:49

#20

Terry&Sue

Senior Member

Re: TAPU and House valuations

Quote:

Originally Posted by Dellol

Hi Maria, All I know is that it is being dealt with at the moment. They have all the originals emails between themselves and the Emlak confirming price and taxes and receipts for same, so you would think it would be straightforward, but it isn't. They have had to get a Solicitor and it is in his hands now. As soon as I hear any more I will certainly keep you updated. It all comes down to the fact that on the day they signed for their Tapu, the lower figure is what was stated. I don't know how it will stand under your circumstances. It is very unfair when you know at the end of the day that you paid the correct figure initially.

All:
If you know of anyone about to purchase or sign for their Tapu, tell them to MAKE SURE that the figure on it is the exact figure they paid for their property.
Lorna

Hi Lorna
We purchased for £47000 but our tapu says 47000 YTL,not sterling.
Our power of attorney was with an employee of our agents and he presumably signed for the tapu and paid any tax as we bought under an "all inclusive of fees" package.
Does that fact that we didnt actually sign make a difference.
I dont like to be sceptical but everybody I speak to has an undervalued tapu based on government estimates and nobody knows what to do.
Agents seem to treat it as normal even those in high positions and well respected so there are possibly thousands upon thousands of us owners in the same position.
We get so many different opinions and even the Turkish authorities themselves seem very vague about it and this thread has been going like others for years about it.

I just cannot see how after all the "dont worry about it" comments from fairly senior people and authorities that they can fine tens of thousands of innocent people.
It would totally kill off the property market in Turkey and I think thousands would pull out.
We bought back in Xmas 2005 and this subject has never been solved by Turkish websites,embassy notes,emlaks,or solicitors or anybody