New regulations came to the Turkey real estate valuation reports to be prepared for acquisitions of property by foreigners.
The TADEBIS -Web Land Registry arrangement will be implemented across the country as of today.
The TADEBIS-Web Land Registry arrangement was started in the favorite city of tourism in Antalya, last month. This arrangement will be implemented throughout Turkey as of September 20, 2021.
Integration was achieved between TADEBIS (Real Estate Valuation Information System) and Web Land Registry application to receive requests for valuation reports, distribute them from a center to valuation companies, and prepare valuation reports electronically.
With the arrangement made, the reporting standard was brought. With the system, it is aimed to eliminate the material errors that may appear in the valuation reports.
In transactions involving foreigners, valuation report requests will be made via TKGM's webtapu.tkgm.gov.tr website or ALO-181 Call Center.
Foreigners will be able to start the process they want from the 'valuation transactions' menu on the left menu of the web title deed system to start the real estate valuation process.
Valuation follow-ups, report access and revaluation requests can be made from this page. The appraisal report fee will be paid by the person concerned.
The request will be assigned by the system to the authorized real estate appraisal company via TADEBIS with the work distribution algorithm on the same day. A special algorithm will be used to ensure that the assignments are fair.
Real Estate Valuation Report fees will be based on twice the fees determined by the 'Minimum Fee Tariff and Implementation Principles of Real Estate Appraisal. Apart from this fee, no additional fees or charges will be collected, excluding Value Added Tax (VAT).
It will be finalized in two working days, except for the day of assignment to the authorized valuation agency, for residential properties, and in five working days for all other non-residential properties.