Sell Your Property in Turkey Taxes Tips Surveys Questions And Paperwork

When I sell my home in Turkey, will I be subject to capital gains tax?

This may be the case in a few specific instances. A capital gains tax must be paid in Turkey if you want to sell a property you bought in Turkey within the first five years. You won’t have to pay this if you bought your home more than 5 years ago.

You will owe a capital gains tax equal to a percentage of the profit you made on the sale of your property, defined as the difference between the purchase price listed on your title deed and the sales price listed at the TAPU (Land Registry) Office upon closing.

How much will I have to pay to sell my home in Turkey?

Common costs associated with selling a home in Turkey include:

  • Real Estate Commission. The standard commission for real estate agents is three percent of the sale price. Depending on the circumstances, this charge may change based on a written agreement.
  • The tax on profits made on the sale of assets. If you plan on selling your home within the first five years, you must do this. It’s a fee that can change depending on the situation. Refer to the earlier question for clarification.
  • Transfer Payment on a Sale When selling or buying real estate, you must pay Stamp Duty of 4 percent (plus other administrative expenses). Despite the fact that under Turkish law both the buyer and the seller are required to contribute to the 4% deed transfer fee, the buyer usually ends up footing the bill. Clarity and notation of who is responsible for this fee should be included in the sales terms and negotiated.

 

Can you tell me what paperwork I’ll need to sell my home in Turkey?

Several items must be submitted to the Land Registry Office in Turkey before a property sale may be processed. The following are items that should be provided by the seller or vendor:

 

A valid passport and a certified translation of your passport into English. Your passport (not a copy) must be translated into Turkish and stamped by a Notary Public before you can enter Turkey. The Land Registry office in Turkey will need this in addition to the passport in order to finalise the sale of the property.

Invoice Number in Turkey. If you are the owner of a property in Turkey, you should already have this number, as it serves as your tax identification.

2 Passport Photos. Important for the official Land Registry files.

Authentic Tapu (Title Deeds).

Declaration. A legally binding document transferring all rights to the new owner.

Is it possible for me to leave my Turkish property to a loved one?

You can legally give your property to a spouse, partner, or other third party without having to pay any transfer or inheritance taxes on it. Those named as owners on the Tapu (or their POAs) and the recipient of the house must all be present for this process to be completed successfully.

If you want to transfer ownership of your property to someone else completely, you must first file a notice with the local Land Registry Office. The cost of legal representation typically amounts to seven percent of the property’s recorded value with the Land Registry (N.B: the figure the TAPU office will give you as to the properties worth in Turkish Lira is often far below the figure it is worth on the open market). Then, you’ll need to hand over the usual suspects: a TAPU, passport (with translation), declaration, two passport photos, and your tax ID.

 

 

Which methods does esales international use to advertise your home?

Have you considered selling your Turkish property? We have been assisting customers with the sale and protection of Turkish real estate for years. The right client for your business can be found using our well-honed arsenal of marketing and customer support services.

Depending on the sales package you select, we will endeavor to get your home shown as widely as possible globally into all countries buying in Turkey (online, in the media, with our partner agencies, on international property portals, at property exhibitions, and in search engines).

We find the best possible buyer for your property and email them the complete listing along with a special note to share with our network of partner real estate brokers. Fully interactive with options to email a friend, seek further information or call for clarification.

To learn more about our advertising possibilities, please get in touch with us.

 

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