What is a Real Estate Appraisal

What is a real estate appraisal?

Real estate appraisal is determining the value of real estate in all its forms to reach its market value, which is a prerequisite for buying real estate or obtaining Turkish citizenship for foreigners in Turkey. One of the benefits of real estate appraisal is to show any fraud in the property specifications between what is written at purchase and what appears upon delivery, For example, buying a property with a value double its real value, or the existence of legal problems on the property, or the construction being improper or suspended if the property is under construction, and one of the benefits of real estate evaluation is to balance the price per square meter in the property, as it does not prevent the re-evaluation after two or three years of purchase To find out where the price of the property has reached and compare it with competing properties to find out the most appropriate time for sale as well as the parties that can pay the highest price in the property.

What is the authorized entity in the real estate appraisal process?

The title deed administration in all Turkish municipalities is authorized in the real estate appraisal process, where a lottery is made between real estate appraisal companies approved by the Turkish government to evaluate the required property or the property you want to buy, and sets a fixed tariff for this process in all Turkish states, and the first criterion that companies adopt Real estate in the real estate appraisal process is determining the price of the real estate and knowing whether the offered price is real or not for the appraisal companies, and this is done by studying the prices of real estate similar to the real estate to be evaluated. In the apartment or real estate and the services provided in it within this project, and the price of the property is determined based on

The age of the building in general and the age of the property in it and the period of its use. The area in which the property is located is also evaluated and compared in terms of services, urban development and surrounding facilities with the areas competing with it or adjacent to it with investment.