Foreigners need to have the property valuation report in order to buy a real estate in Turkey. Property valuation also shows if the property is eligible for the Turkish Citizenship by Investment.
Turkish title deed office asks for the property valuation report in order to give an appointment to transfer the ownership to the foreigner buyer. Gedaş company is responsible for making the valuation report to property sales to foreigners in Turkey.
The property valuation report shows the details of the property such as its market value, photos of the property, advantages and disadvantages of the property and title deed records. It also shows if there is any debt or condition on the property title deed records.
The owner of the property can demand a property valuation report on the Webtapu online system. It cots approximately $1,500 to make the valuation report in Turkey. Usually, the property valuation report is prepared within 1-2 weeks after the payment is done.
The property valuation report shows the eligibility of the property for the Turkish Citizenship by Investment program. If the property is valued above $400,000, the report says that the property is eligible for the Turkish citizenship. If the property value is lower than $400,000, then the report writes its market value. You can combine multiple property to reach that $400,000 investment and then you can apply for the Turkish Citizenship by Investment Program.
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