Maximizing the Value of Your Property Sale in Turkey
Selling a property in Turkey can be daunting for foreigners due to language barriers, legal complexities, and intricate regulations. SimplyTR can help.
Hello and welcome to the SimplyTR blog. As a consultant company in Turkey, we specialize in assisting foreigners navigate the often complex process of selling their properties. Today, we’d like to highlight why partnering with us can be the key to a smooth, successful, and profitable property sale experience.
The Unique Challenges
Selling a property in Turkey can be a daunting task for foreigners, particularly due to unfamiliarity with the local legal and tax systems, language barriers, and intricate property regulations. Yet, these challenges should not deter you from capitalizing on the vibrant Turkish real estate market. Let’s delve into a few challenges you might face and how we, at SimplyTR, can assist you:
Understanding the Legal Process
The legal process of selling property in Turkey involves a number of steps. Firstly, you need a copy of your property ownership document (TAPU) and your ID confirmation. You also need your fiscal number, 2 passport size photos, compulsory earthquake insurance, a municipality value document, and a property evaluation report before you make the official sale application at the land registry office. If you have any outstanding municipality property taxes, these need to be cleared prior to making the sale application.
Costs of Selling
There are several costs to consider when selling your property in Turkey. These include notarization costs, a sale tax amounting to 2% of the sale value, earthquake insurance, and property evaluation and survey report costs.
Capital Gains Tax
When selling a property in Turkey, you also need to account for capital gains tax, which is calculated based on the difference between the sales value and the purchase price. However, if you are selling after 5 years of ownership, you are exempt from this tax.
How SimplyTR Can Help
At SimplyTR, we understand these challenges and strive to provide comprehensive assistance every step of the way. Here’s how we can help:
Legal and Paperwork Assistance
Our team of experts is well-versed in Turkish real estate laws and regulations. We can help organize all the necessary documentation, prepare the sale contracts, and even represent you at the closing procedure via Power of Attorney9. We ensure that you are compliant with all legal requirements, reducing stress and potential legal risks.
Taxation Advice
We provide valuable advice on taxation related to your property sale, including guidance on capital gains tax and how to qualify for exemptions, ensuring you retain as much of your profits as possible. Our team stays updated on all tax laws and changes, so you can trust that you’re receiving the most accurate and up-to-date information.
Negotiation and Marketing Support
Selling a property involves more than just paperwork. It requires strategic marketing to find the right buyers and effective negotiation skills to secure the best price. At SimplyTR, we offer professional marketing services to showcase your property to potential buyers both locally and internationally. Furthermore, we negotiate on your behalf, leveraging our deep understanding of the Turkish real estate market to secure the best possible price for your property.
Post-Sale Support
Even after the sale is finalized, our commitment to you does not end. We provide post-sale support to help you navigate any after-sale requirements or issues that may arise. Whether it’s dealing with final tax settlements or transferring utilities, we’re here to help.
Our Client-Focused Approach
At SimplyTR, our mission is to make the property selling process as smooth and stress-free as possible for our clients. We understand that every client’s situation is unique, and we tailor our services to meet your specific needs and goals. We are committed to transparent communication, keeping you informed and empowered throughout the entire process.
Concluding Thoughts
In the ever-changing and vibrant Turkish real estate market, it’s essential to have a trusted partner like SimplyTR to help you navigate the complexities and maximize the value of your property sale. Our team’s expertise, combined with our commitment to our clients, makes us the ideal choice for anyone looking to sell their property in Turkey.
Thank you for reading our blog post. We hope that you now have a better understanding of the benefits of working with SimplyTR for your property sale in Turkey. If you have any questions or need further assistance, please do not hesitate to contact us. Your successful property sale is our utmost priority, and we are more than ready to assist you on your journey.
