Mandatory Valuation (Appraisal) Report

It is obligatory to submit an appraisal report for every international real estate sale in Turkey. The purpose of this is to make sure that the pricing in real estate purchase and sale is correct and thus to prevent a mistake in taxation. Mandatory valuation report is prepared by two certified and accredited valuation experts of the Capital Markets Board (CMB). These appraisals are sworn experts. One of these experts examines the property’s plan, the municipality’s registry information and the land registry offices. Experts visit the property to make sure the property is purchased. During the preparation of this report, home price and registry measurements are double-checked for accuracy. The real estate value taken into account by the government is the market value, not the value declared by the seller.

Real Estate Valuation Report Information and Transaction Methods

When purchasing a real estate, you want to be sure of the true value of the property you will buy. The real estate valuation report provides this. There are two types of valuation reports:

• Real estate valuation,
• Feasibility report and project valuation.
• The real estate valuation report includes:
• Deed information,
• Map and location information,
• Photos of the real estate,
• Prices of similar real estates in the region,
• The probable sale price of the real estate,
• Legal situation analyzes in the municipality/land registry/cadastre offices to which the property is affiliated.

Depending on the request or the characteristics of the property, the valuation report may include other conditions. Three different methods are used while preparing the appraisal report according to the type of real estate:

Comparison with Similar Methods: Real estate is compared with other real estates with similar characteristics.

Possible Income Method: The property is analyzed according to its net income stream.

Zoning Cost Method: In case the building is rebuilt, the construction costs that will occur in the current economic conditions are evaluated.

Frequently Asked Questions (FAQ)

What are the requirements for the house to register in the system?

In addition to the location of the house, its well-maintained and pleasant design makes it the primary choice. There are some items that you should have at home. We share these with our customers as a list.

How is the deal done and how long does it take?

We arrange a meeting with you or your legal representative within 1 week of contacting us. If we agree on all conditions, your contract will join the system at the end of the first meeting. Our contracts usually last 1 year.

How and when does the landlord receive rental income?

The landlord receives rental income between the 8th and 15th of each month. The money is deposited into the host’s bank account with the IBAN number.

Where is my key stored?

We store your key in our office, barcoded and highly protected.

What happens if the tenant forgets to return the key or loses it?

In such a case, we immediately contact the tenant and ask him to return the key. Otherwise, we change the lock. You are not charged a fee for this.

How long can I stay at my house if we sign a contract with you?

We expect 80% occupancy for the rental, except for special circumstances, throughout the agreement we made. If you want to stay at your home, you must inform us at least 2 weeks in advance. If a tenant has made a reservation for the date you want to stay in your home, the tenant will be given priority.

What if there is damage to the house?

Rental real estate platforms provide homeowners with warranties to protect their homes. Under these warranties, proven damages are covered by the platform. In long-term rentals, a deposit is taken from the tenants to protect the landlord’s right. It is the landlord’s responsibility to cover the cost of repairs for damages not caused by the tenant.

Do I need to have special insurance for fire, flood or theft?

It is entirely up to the landlord whether to have insurance or not. However, we always recommend that you take out insurance.

Do home appliances have a refresh period?

The newer the furniture in your home, the higher your rental income will be. However, as long as the devices are working, they do not need to be renewed. The landlord is notified of a tenant’s complaint about the property and our team will assist the landlord to resolve the issue.

Who bears the costs of perishable consumer goods such as sheets, towels, soap, shampoo?

The landlord pays all costs for the initial rental while the house is included in the system. After the first rental, we provide hygiene products free of charge.

Who pays the electricity, water and internet bills and dues?

The landlord is responsible for all bills, dues and taxes of the house during the contract. If the landlord wishes, we follow up on behalf of the landlord in order to avoid delays or overruns in invoices and dues.