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[av_heading heading=’Frequently Asked Questions’ tag=’h1′ style=’blockquote modern-quote’ subheading_active=’subheading_below’ size=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=’15’ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” color=” custom_font=” margin=” margin_sync=’true’ padding=’0′ link=’manually,http://’ link_target=” id=” custom_class=” av_uid=’av-kc33reax’ admin_preview_bg=”]
…and Their Answers
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[av_toggle title=’How will I receive my money?’ tags=” custom_id=” av_uid=’av-1oupm7′]
This is one of the first questions sellers ask us when they come to talk with us. And they’re right.
Our consultant will explain you everything and every possibility concerning this subject. As seller you probably already have a Turkish Bank Account. If not, we’ll assist you with that.
Then, this is how it usually goes:
When a buyer decides to buy your property, we’ll draw up an agreement. One of the main components of this agreement is the payment arrangement. Normally, a down payment of 5-10% of the purchase price will be taken from the buyer.
Sometimes the buying party has to go back to their home country to arrange the money or because they just don’t have enough holidays left from work to complete the buying process. If this is the case, a future date for the Title Deed transfer will be set. If the time until the Title Deed transfer is relatively long, usually another instalment will be required from the buyer. This will all be stated in the agreement.
The amount that is outstanding, will be paid at the official transfer of the property.
It is most likely your payment will be paid cash or transferred into your (Turkish) Bank Account.
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[av_toggle title=’How to find a reliable real estate agent?’ tags=” custom_id=” av_uid=’av-1l2giv’]
In Turkey, a realtor is a licensed profession. There are many professional real estate agencies in the area with the right documents. Many of them work with both sellers and buyers. When purchasing property in another country than your own, it’s important to know what is happening. Find a real estate agency whose employees speak a language you’re comfortable with. In addition, look for recommendations and most importantly – trust your feelings.
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[av_toggle title=’How do I know the right selling price for my property?’ tags=” custom_id=” av_uid=’av-1fjduv’]
At a professional real estate agency like Property Network Alanya, our agents know the market. They are all day busy with finding new, suitable properties for our portfolio and informing themselves about which properties sold recently for which amount. So we can give you a realistic selling price when we know some specifics about your apartment, like location and building year.
We will also come and take a look. After that, we’ll advice you on a selling price that we believe is realistic for today’s market.
But the one who has the final decision is you.
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[av_toggle title=’How much does it cost me to sell my home?’ tags=” custom_id=” av_uid=’av-19eljz’]
When selling your home, you will have some additional costs. If you sell your property within five years of purchasing it, you are liable to pay Capital Gains Tax in Turkey. If you purchased your property over 5 years ago you will be exempt.
The capital gains Tax is a percentage of the profit you made on the property. It will be calculated on the difference in price stated on the Tapu when you purchased the property and the price stated on the Tapu when you sell it.
As a seller, it’s your responsibility to have all the necessary paperwork in order. Sometimes unexpected situations occur, which need to be solved. In this case, the seller might have to pay for the costs for the notary, translator etc. etc.
As a seller you’re also responsible for closing all outstanding debts for utilities and maintenance fee for example, before the transfer of the Title Deed.
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[av_toggle title=’How Quick Can My Home be Sold?’ tags=” custom_id=” av_uid=’av-gmzx3′]
Obviously, this depends on the asking price. If you’re looking for a quick sale your price have to be right.
We also have the option to make a quick cash offer to buy your property, thanks to our network of investors.
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[av_toggle title=’If I Already Have a Buyer Can You Still Help me With the Tapu Transfer?’ tags=” custom_id=” av_uid=’av-vg4tj’]
Yes, we can. If you need our assistance to help you finalize the sale and handle all the paperwork and procedures, just let us know.
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[av_toggle title=’What Is A Home Valuation?’ tags=” custom_id=” av_uid=’av-qjxgf’]
A home valuation is the process when we give you an estimation of what your home is worth in today’s market. We usually come to your house to take a look and use our knowledge of the local market to complete the valuation.
This is all free of charge.
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[av_toggle title=’I Can’t Attend In Person The Transfer Of The Property. What To Do?’ tags=” custom_id=” av_uid=’av-n9wzz’]
If for any reason you are unable to be present in person to register the transfer of ownership of the property at the Tapu office, you can issue a power of attorney with a notary. In this power of attorney you can assign a person you trust to represent you and sign the paperwork in your name. Registration of the power of attorney takes approximately 2 hours. The power of attorney must be certified by a notary in Turkey. Your agent at Property Network can assist you with this and give you actual information about the costs.
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[av_toggle title=’Can I Sell My Home Without A Real Estate Agent?’ tags=” custom_id=” av_uid=’av-7i5yf’]
Yes, you can. We do not recommend it, but it is possible. But before you make your final decision, please read this article.
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[av_toggle title=’Do I Need An Appraisal Report?’ tags=” custom_id=” av_uid=’av-7a4lr’]
Yes. Since 2019 it’s mandatory to have an appraisal report from the object that’s being sold to a foreigner. These reports are drafted by an independent company and costs between 1000-2500TL, depending on the size of the property. In many cases, the appraisal report is paid by the seller. However, it’s also possible that parties decided to include this in the closing costs for buyer.
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At Property Network we’re happy to help you with any question that may arise. Whether you’re just curious about how much your home is worth or you’ve already made the decision to sell your home and want to proceed. Just contact us and we’ll be in touch.
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