Calis Beach and Fethiye Turkey Discussion Forum
Property For Sale in Calis Beach & Turkey => Buying Property in Calis Beach, Fethiye and Turkey => Topic started by: LeeGlo on August 11, 2010, 14:08:57 PM
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quote:Originally posted by Scunner
Declared values are provided by government now, not by chancers
I asked the following questions on the thread but got no replies, so I am asking again as a new thread.
So come on Scunner, whats the answer please.
When did this start, is it the Belediye who set the figure and how do they work out the values.
I ask because we are thinking of selling and our tapu was issued in April 2008 complete with what we were told was the "council valuation" (naive I know NOW)read undervaluation here and this could drastically affect our CGT position.
Another question on that - when is CGT taken? At change over of tapu or do you have to declare it yourself.
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What do the people you bought through say?
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The price on my tapu is only 5000 ytl under what we paid. Don't have much of a problem with that.
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mine is 2k more than we paid
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quote:
Originally posted by Scunner
What do the people you bought through say?
We used a chap (introduced to us by and vouched for by english people) who had an agency, but it was not one of his properties, he dealt with the paperwork for us, military permissions etc but the purchase money was paid direct to the builder. By the time the tapu was ready the agent was in the army and his partner came with us to get the tapu. The agent told us that the council set a value, and we niavely believed him, he said they would put 45K on the tapu, which they did, unfortunately we now realise that this is 45K Lira not pounds. So we are on our own now that we want to sell. So who does fix the value?
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I don't think it really matters who set the tapu price now surely. If you want to sell then it's down in black and white and you will have to pay any tax due if you sell within the CGT time limit. Unless of course you can get it altered?
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I must be honest, the "so what's the answer Scunner" comment niggled me more than a little. You didn't seem to need my advice when you went off and bought (even though you were members here) but now your tone is that I have some duty to help you out of the mess you and your chosen agent have now got you in.
Your answer is that the council will issue a paper with a minimum value on it. You can't declare a value under that. CGT you pay on the difference between old and new tapu values. You should declare it as a capital gain and settle up. You should...
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Thank you Scunner. I didn't mean to offend you in any way the "so whats the answer..." was meant jokingly as you seem to be the oracle on these matters. Sorry we didn't come to you when we were buying as you say maybe we wouldn't have the problem now if we had have done. Unfortunately, like so many people we got swept up into leaving our brains behind in the rush to get settled here. You always have 20-20 vision with hindsight.
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Fair enough
There should be some amount to pay if you are selling within 5 years of getting your tapu. It won't be automatically deducted or anything like that, you should declare your gain [:o]
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Just as a matter of interest "where does it say on your Tapu any valuation" only ask as i cant find any on mine
Ron
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Ron,
Our tapu does not have a valuation on it either. I think it's because we are on a complex - or maybe we are illegal ;-)
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Thanks again, we thought we had done our homework, but after reading so many horror stories on this and other forums (after we had bought) we find that loads of people far more intelligent and astute than us have fallen victim to many worse scams than the tapu value one.
We were so overjoyed to actually get a tapu that we didn't even think about this until our neighbour pointed out that the value was lira not GBP. It doesn't state a currency on the tapu and everything else had been done in GBP, so we didn't even realise there was a problem.
I hope you will not mind me asking a few more questions on this. I'm sure that there are others in the same boat who would also appreciate your advice.
I understand that there is some allowance made against CGT, but can you also claim back anything for "improvements" such as installing air cons and any furniture you include in the sale price?
As the property is in both names, does each person on the tapu get a tax free portion or is it a "one off" against the total gain?
Any info will be greatly appreciated.
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(http://www.calisvilla.co.uk/tapu11.jpg)
Not sure where that came from initially, thanks to whoever did it :)
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Ours is a bit different to that one. I'll see if I can copy it in pdf and put the details up (exluding the private bits)
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Most will be a bit different to that one.
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(http://i7.photobucket.com/albums/y275/stoopo/TAPU.jpg)