Why This Requirement Exists

The mandatory appraisal was introduced to standardize declared property values in foreign buyer transactions, both to protect buyers from significant overpayment and to give authorities a consistent, independent value figure rather than relying solely on a price set between buyer and seller. It applies as part of the standard process for most foreign purchase transactions.

Who Can Legally Perform the Appraisal

Only appraisal companies licensed by Turkey's Capital Markets Board (Sermaye Piyasası Kurulu, SPK) can produce a valid valuation report for this purpose — a standard real estate agency's estimate, however well-informed, does not satisfy this requirement. Confirm the specific appraisal company's current SPK license status rather than assuming any company claiming "certified" status meets the legal standard.

What the Appraisal Report Actually Covers

  • An independent assessment of the property's market value based on comparable sales, condition, location, and other standard valuation factors
  • Documentation of the property's physical characteristics and any material issues affecting value
  • A formal report meeting the format and content standards required for submission during the title transfer process

Timing and Practical Logistics

QuestionPractical guidance
When should the appraisal happen?Typically arranged in the later stages of the purchase process, close to the title transfer — confirm the sequence with your lawyer or agent since it needs to be current at transfer
Who pays for it?Generally the buyer, as it's a requirement tied to the buyer-side transaction process
What if the appraised value differs significantly from the agreed price?This can raise questions during the transfer process — discuss with your lawyer how a significant discrepancy should be handled before it becomes an issue at the title office

Choosing an Appraisal Company

Beyond confirming current SPK licensing, ask about the specific appraiser's experience with the property type and location — a company with strong general credentials but limited experience in a specific regional market or property type (e.g., agricultural land vs. urban apartment) may produce a less reliable valuation. Get the report in writing with enough time before your transfer date to address any issues it raises.