House Sale without Estate Agent

[OldDog]

Has anyone had experience of selling a property here without an estate agent?

[Reyntj]

Yeah its easy if you have the deeds. Get a valuation at the tapu by filling in the form. Give it to the guy in the back far right corner room. Come back in a few days when its ready. A passer by will help you fill it in. What ive done is outside the room on a chair is a stack of completed forms. Borrow one of them you can easily work out what goes where. Its info from the deed & buyers & sellers details. Copies of i.d. & deedyou put the sales price in tl. They write the valuation next to it. The highest of these is used now for tax purposes.

Get the emlak payes from the beledeysi by paying outstanding bills. Include that in the form

Attain valuation.

Pay sales tax in the tax office next door by taking one of the yellow forns you filled in . They keep one and stamp the others that need to be then taken and given to the main desk. Include photo copies of id & deed. Wait . Maybe 1-2 hours. Buyer needs permission to purchase now im not sure about that as the three sales ive done myself where to tc. Go early.

When they check everything they will then calculate buyers tax. They give a small receipt to pay . If they are paying by card in this office or cash at vakif bank. Bring the receipt. Confirm you have received payment in full and buyer and seller sign the form. Finished.

You can pay a lawyer £1000 plus to do this but you still have to be there and often they just send a runner to guide you through these quite trivial admin tasks.

[benjaminbutton]

Been here for years and sadly you lost me by end of first paragraph.

[Soner]

Went to a Noter to help, she said she didn't want to take money from me for something so simple. Told me what to do at Tapu. It was so easy, no probs. Pretty much as Reyntj has explained.

[a1sysman]

Curious about the tapu valuation, is it still the case there is a sales tax exemption for a first time seller - or have l got that completely wrong? İf l am right then surely a tapu valuation is not necessary for a first time seller. Just curious.

[Maisiemoo]

Curious about the tapu valuation, is it still the case there is a sales tax exemption for a first time seller - or have l got that completely wrong? İf l am right then surely a tapu valuation is not necessary for a first time seller. Just curious.

I sold last December, was a first time seller and had to pay the tax, 2.8% from memory.

[Kanonier]

https://photos.app.goo.gl/pSPsMPdd5BNKRS1M6

[a1sysman]

https://photos.app.goo.gl/pSPsMPdd5BNKRS1M6

Thank you. İ wonder if the detail is still current, there’s no source to check against.

[Kanonier]

https://tfrnorthcyprus.com/

From The Foreign Residents in the TRNC, which is updated on a regular basis.

[waddo]

Kanonier, would love to see an “Update” on residency for renters - from anywhere! Still waiting for the “Promise” that was made public in June 2024! Guess that renters just fell through the cracks whilst the “Owners” mess was being sorted out?

[Mollie the cat]

I would pay someone good money to guide us through the process, name your price?

[a1sysman]

https://photos.app.goo.gl/pSPsMPdd5BNKRS1M6

Have you removed the content?

[Kanonier]

https://photos.app.goo.gl/pSPsMPdd5BNKRS1M6

Have you removed the content?

No, if you type The Foreign Residents in the TRNC into your search engine it should take you to their website.

[Reyntj]

Regardless they still need the valuation for buyers tax

[a1sysman]

Regardless they still need the valuation for buyers tax

Correct me if l am wrong please:

If an individual vendor as opposed to a “professional vendor” (regardless of their nationality) is selling their first property, a property they have owned (with koçan in their name) and lived at for longer than six months, they do not pay stopaj. The once in a lifetime exemption.

A tapu valuation of the property is still required as the tapu valuation or sale price, whichever is the greater, determines the buyers tax percentage (in relation to their status, ie TC, Turk or foreigner).

Useful info, if up to date…
https://www.nmplegal.com/assets/docs/gu ... ctions.pdf

[DottieO]

Anyone know what complications you encounter if trying to sell a property that is not registered on the actual koçan? Koçan in own name, just shows land details, no issues with title.

Thanks

[a1sysman]

Anyone know what complications you encounter if trying to sell a property that is not registered on the actual koçan? Koçan in own name, just shows land details, no issues with title.

Thanks

You don’t say if permission to build the property on the land had been applied for and granted.

I was advised at the time l purchased land to pay taxes there and then because once a house was built upon the land the valuation taken then would be land AND house. Sound advice it turned out to be because it cost me next to nothing to have the house added to the koçan when time came to do so.