A mandatory law was issued by the Ministry of Housing in Turkey on 15/2/2019, which stipulated the necessity of obtaining a real estate evaluation when starting the procedures for obtaining the title deed. This law aims to protect foreign investors in the Turkish market.
The Turkish government has also issued a list of companies approved by it, and evaluation is not accepted other than these companies.
This law obligated everyone who wants to sell any real estate of any kind to undergo the evaluation process, this process was mandatory only for those who want to obtain citizenship.
The price of the property is evaluated on several factors, namely:
-The area of the property and the surrounding buildings: where the price of this property is compared with the properties surrounding it
- Date of construction and area of the property: The total area of the property and the year of its construction are verified.
-Building status: The property is examined for its defects and if there are any problems or cracks in the property.
Services: such as parking lots, parks, gyms, and swimming pools.
- The view: The view has a big role in raising the value of the property if it overlooks the sea, for example, or a valley, or a mountain ...
- The legal status of the property: such as making sure that there is no seizure sign on the title deed or that there are any obstacles to the transfer of ownership.
-Economic Outlook
Information included in real estate appraisal:
-address of the property
-Applicant name
-Real estate photos
-The location of the property on the map
-Approval of the Geographical Survey Municipality
-Similar property prices
- The state of debt related to the real estate