Expert Assessment of Real Estate in Turkey is no Longer Mandatory for all Buyers

Expert assessment is no longer needed. But not everyone. Changes have been made to Turkish legislation on the document flow procedure for the purchase and sale of real estate by foreign citizens.

Previously, all foreign citizens had to order an expert assessment of real estate when concluding a purchase and sale transaction. This is now mandatory only if a foreigner is purchasing property to apply for Turkish citizenship, and an expert assessment of the value of the property is required to confirm the requirements for obtaining citizenship. The assessment is submitted to the Land Registry and Cadastre Office of Turkey before the transaction itself.

The cost of an expert assessment is 13,200 Turkish lira (data subject to change), you can save on procedural costs.

An expert real estate appraisal report is a document that firstly protects the buyer when concluding a transaction. It contains absolutely all the information about the object. All legal nuances of real estate will be identified and indicated, including data on the seller’s owner’s debts to government agencies, if any, and any other nuances.

For your peace of mind, you can order this report. The buyer pays for it. The assessment is carried out by an independent expert – only licensed organizations of the Banking Regulatory Agency (BDDK) have the right to assess real estate in Turkey. Their activities are controlled by the Turkish Capital Markets Board (SPK).

You can check the official government page about the foreign currency exchange certificate link

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