1.  Plan to complete payment your property purchase either in early December OR late March- never between April (Easter) and September.

3.  Make a short Buy List of 5-8 properties to buy;

5.  Submit your price offer to the seller at a reasonable price advised by your Property Finder, taking into account the real supply and demand situation in the market, shown in the Market Price Valuation Report.

6.  Do not expect the seller to accept this price… instead, plan to re-submit the same purchase price bid every month- or use a pricing strategy advised by your Property Finder…

7.  Remember, the MyTapu Property Finder is a Transaction Manager that is a Qualified Investment advisor- not a real estate agent.

8.  Keep track of prices of the properties shown in the Market Price Valuation Report during the time from April through November (or February), and the sales of properties on your Buy List. 

9.  At any time during this extended period of time the Seller may come back to you and discuss price, because the seller knows he/she priced his/her property 20-30% above the market value, and because your Property Finder is submitting price bids to the seller once a month, as a reminder. You may receive reduced and lower price offers from more than one seller…

10. Once you have received the seller’s concessions to sell at a reasonable price, and very happily at a discount from the original sales listing price, you the buyer, will have purchased at a price that represents a sound investment, protecting capital and preserving wealth.

Remember, a property owner in Turkiye, whether foreign or Turkish, decides on the amount he or she wants to receive for the sale in terms of a USD, EUR, or GBP price, and then adds 20-30%. Then converts this price into Turkish Lira (TL) at the existing exchange rate, and every two or three months, adjusts the TL price to reflect the most recent TL exchange rate. So having this insight, a buyer can calculate the price at which the owner is willing to sell, and use that insight during negotiations. This is a great advantage. Tracking the property over an extended period of time, for achieving an advantageous purchase price. The MyTapu Property Finder keeps track and applies these insights automatically, so the buyer has the information to benefit from, 

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• Directory of Articles (by Categories) 


• • Property Prices in Turkey (8)

  • Property Valuations & Appraisal Reports (8)

  • Citizenship Investment in Turkiye (6)

  • Property Transaction Services (2)

  
  
• Buying Property in Turkiye (21)
• Покупка и продажа недвижимости в Турции (1)
• Turkish Mortgages (2)
• Rentals (3)
• Turkish Residency and Resident's Permits (1)
• Reviews about MyTapu Associates (2)
• TV and Film Investment Turkiye (4)
• Independent Professional Advice (7)
• On-Line Digital Real Estate World (1)
• Legal Help, Due Diligence, Conveyance (7)
• Tapu Issues (7)
• Tax (2)
• Selling property in Turkey (14)

In this article, explained in image text…

• The Common Mistake is Always Costly
• No Official Source of Transaction Prices Exists in Turkiye…
• How to Discover Real, Factual, Accurate Market Prices…?
• Accurate Solutions
• Specific Factors
• The Result-  Saves Thousands……
• The Market Intelligence Report

Read more details in articles...
• Directory of Articles (by Categories) 
• Property Valuations & Appraisal Reports (5 articles)
• Property Price Trends in Turkiye

Market Intelligence Reports: Buying Price & Selling Price

For both a buyer and a seller of property, a key consideration is deciding the price.  Each has different considerations....

The Common Mistake is Always Costly…The common mistake is to decide on a price by:

• Relying on agents for recommendations is a mistake, because their practice is to recommend a price that suits them best, for collecting their commissions quickly, and for maximizing their hidden profit, by secretly taking a share.
• Relying on ad-hoc information obtained from prices shown on websites and agent’s shop windows are also misleading and unreliable because they do not provide an accurate representation of real, factual market prices.

No Official Source of Transaction Prices…

None of the above provide the real, factual market price of a property.  And because there is no official recorded source of property price transactions in Turkiye, not even at the Land Registry, there was previously no solution.

To the poorly informed buyer or seller, it may seem a simple task to find the true market value of a property by casual observation looking on the internet - but in reality, that approach reveals ignorance, which can be very costly. A ‘rough, approximate idea’ of property prices obtained in this way is always a minimum of 15%-25% inaccurate. That is money lost,

How to Discover Accurate, Real, Factual Market Prices…?

Without transaction prices to reveal recent, current purchase and sale pries, and without an official source of such data, there is no information for a buyer or seller to roughly or approximately know the true market price of a property, in order for buyers to decide their bid price, and sellers to decide their offer price.

In addition agents’ listing prices never reflect a number of other factors that must be taken into account to discover price, typically related to the specific property, specific location, and other specifics. Usually buyers and sellers are not aware of these factors, but if they are, finding the information is impossible for all practical purposes. Read about these below.

Accurate Solutions…

For this reason MyTapu Associates applied their expertise to developing a technique for discovering the true, factual market price of any property at a specific date in time. The technique relies on MyTapu’s private in-house know-how, experience, and specially developed tools:

• Data Science: Data sourcing discovery, formatting, and collation by using specifically designed & developed tools:
• Econometric Techniques: Price discovery from real exiting supply and demand data in the market of buyers and seller.

True market priceis defined as next transaction price following most recent transaction prices. In many locations on the Turkish coast, two or three years passed during the pandemic times when no transactions occurred. In such situations, the true market price cannot be seen from transaction prices, and can only be seen from the same supply and demand economics that produce transaction prices.

The result is a Market Intelligence Report that reveals true market price, discovered by using a combined tool set:

• True Market Price: Determines the true market price of a property on any day.
• Time Duration: Usually this price will won’t change for a week or ten days, except in high-density urban locations such as Istanbul.
• Competitive Comparisons: Identifies all similar properties that a seller’s property is competing against, or that a buyer may choose between as an alternative.
• Bargaining Power: Essential for negotiating, and keeping up-to-date with transactions that lead to price changes.
• Future Prices: Predicts next series of transaction prices in the near term.

The Market Intelligence Report is:

• Verifiable with accuracy clearly presented by supporting evidence.
• Without substitute, the only solution- no alternative exists.
• Reliable for professional purposes, including International Courts’ Expert Witness Reports.

 .

Specifics…

Part of the reason why a ‘rough, approximate idea’ of property prices is always a minimum of 15%-25% inaccurate', is that there are specific factors that must be taken into account. These include the specific property, the specific location, and other specifics. A buyer or seller is not aware of these specific factors, but if they are, finding the information is impossible for all practical purposes.

The Market Intelligence Report reveals factual information about real market conditions, and measuring the premium or discount applicable for each specific circumstance, by supply and demand.

The Specific factors are summarized as ( ask why items in this list impact a property's price: email us at info@mytapu.com)

Transactional practices

Price discount conditions,

Common practices for 'gross' versus ‘net’ transaction pricing

Property specific factors

Existing price range fluctuations

Seasonal factors

Timing considerations regarding acting now or scheduling for the future

Permits

Site management charges & issues

Insurance considerations

Local environmental factors

Rental prices and trends

Existing supply entry prices and exit prices

Owner specific factors

Nationality

Local population & community demographics

Credit, leverage, repossessions, distress procedures & timelines 

Macroeconomics

Trends like currency devaluation rates, interest rates.

Overseas market conditions

International and national demographic and life-cycle trends 

Government policies and incentives

Taxes & fiscal factors

Solution Result – Saves Thousands…

Negotiating Power: These reports are ‘pure gold’ because they ensure a buyer or a seller is fully informed. If only one side of the transaction, only the buyer, or only the seller, has the information in the report, they will have what is referred to as an ‘asymmetrical’ advantage in transaction negotiations.

Alternative Opportunities: The real, accurate, reliable, price data for all comparable and competing properties is shown in the report. This ensures the buyer or seller will always know what price level the next buyer or seller is at, and alternative properties are at, and thus protect their money, in concluding a sale or purchase.

Loss Prevention: The ‘asymmetric’ advantage is what agents attempt to monopolize so they may profit from hidden price manipulation. A buyer or seller having the report, removes the agent’s advantage, thereby avoiding agents’ hidden profiteering. The result ? Saving thousands by avoiding mistakes and being mislead by agents.

Investment Success is not Luck

Investors that allow their capital to be diminished by not being fully informed, have less capital to reinvest, and eventually are no longer investors. Failure to protect capital and preserve wealth is not a formula for success- no amount of luck will save them.

Serious investors do not settle for anything less than the best available investment advice. From experience they have learned there is no substitute. Today even the smallest investments of less than USD 100,000 can benefit from real investment expertise, and not be trapped by relying on the opinions and sales jargon of unqualified investment recommendations from agents, lawyers, citizenship consultants, bankers, etc

Successful investment is not a random, abstract skill, nor is it luck. Maximizing risk-adjusted returns on investment requires investment analysis with specific, detailed, practices, and investment execution with experienced transaction management.

Investment Services…

Analyzing an investment always includes measuring past price performance, and forecasting future prices  MyTapu Valuation Services provide the essential know-how for Market Intelligence Reports, not available anywhere else::

• Data Science:
• In-house, private, data sourcing tools
• In-house, private, data analytics for cleaning and collating data.
• Econometrics: in-house, private econometric frameworks, understanding, interpreting, and forecasting..

All above have been developed during the 35 + years of MyTapu Associates providing professional business services, by highly qualified experts with PhDs, multiple professional licenses, extensive experience working in the world’s leading institutions. This expertise also meets an essential requirement of being multi-disciplinary… in real estate and all other asset classes, in appraisals, accounting, law, banking & finance, economics, in addition to investment management. MyTapu Associates have been providing investment services to the world’s largest, most successful investment fund managers for their investments in Turkiye since 1989. This caliber of expertise is now also available to private individuals investing in Turkiye.

Request more information about Buyer's & Seller's Price Reports by sending an email to 

Both, Investors Buying and Investors Selling, benefit from being fully informed about real market conditions with explicit factual data to better understand their:

• entry prices, exit prices
• timing considerations regarding acting now or scheduling for the future
• seasonal factors
• macro-economic trends like currency devaluation rates 
• proven re-sale prices
• rental prices.

• forced liquidation prices
• current price discount conditions
• exiting price range fluctuations
• common practices for 'gross' versus ‘net’ transactions.

The Buyer’s Bid Price Report shows the different price levels for a specific property, timing considerations, and impact on forecast future re-sale prices and investment returns. 

Analyzing an investment always includes measuring past price performance, and forecasting future prices  MyTapu Valuation Services provide the essential know-how' for Market Intelligence Reports:

All three above have been developed during the 35 + years of MyTapu Associates providing professional business services, by highly qualified experts with PhDs, multiple professional licenses, extensive experience working in the world’s leading institutions. This expertise also meets an essential requirement of being multi-disciplinary… in real estate and all other asset classes, in appraisals, accounting, law, banking and finance, economics, in addition to investment management. MyTapu Associates have been providing investment forecasting to the world’s largest, most successful investment fund managers for their investments in Turkiye since 1989. This caliber of expertise is now also available to private individuals investing in Turkiye.

Read more details in articles...
• Directory of Articles (by Categories) 
• Property Valuations & Appraisal Reports (5 articles)
• Legal Help, Due Diligence, Conveyance (7 articles)
• Property Relates Taxes in Turkiye
• Tapu Issues (7articles)
• Independent Professional Advice (6 articles )
• Reviews about MyTapu Associates (2 articles)
• Buying Property in Turkiye (21)
• Selling property in Turkey (13 articles)
• Property Price Trends in Turkiye

A property purchase or sale negotiation by unknowing foreigner buyers in Turkiye begins at the earliest step of first contact with an agent- but local Turks do NOT do business this way, instead avoiding agents. The first essential step to starting the process correctly, is specifically to avoid the steps agents recommend to guide buyers, which enable agents to prey on the buyers and sellers to capture huge profit mark-ups, which are hidden from the buyer.

A simple generalization of guidance provides some insight into the challenges of services provided by agents:“Believe half of what you see, and nothing that you hear…"

For a buyer, the best way to begin the process, is at the first stage of looking for a property, and MyTapu Associates provides a Property Search & Selection Service that not only provides the widest selection of property choices from the whole market, many directly from owners (without agents), and also integrates Negotiation and the complete range of Transaction Services, if the investing buyer so instructs. More information here.

For a seller, the best way to begin the process, is at the first stage of looking for a buyer for the property, and MyTapu Associates provides a Property Sales Services that are the standard method used by locals, making it possible to attract the widest selection of buyers from everywhere in Turkiye and the world, (without agents), and also integrates Negotiation and the complete range of Transaction Services, if the seller so instructs. More information here.

Both buyers and sellers benefit from the digital internet based on-line portals that are the source of 95% of all property transactions in Turkiye. If an agent is saying their website is a portal, avoid that agent- because saying that is a false claim. 'On-line Portals ' have in-built chat box messaging systems with integrated email that enable buyers and sellers to communicate directly with each other, without agents being involved. Agents' websites obviously do not have this feature, for the very good reasons explained below.  

The procedures are different in Turkiye than in other countries, and an un-suspecting buyer that believes otherwise, places his capital at risk and his conscious at risk. Owning a property in Turkiye provides for an improvement in the quality of living and lifestyle, and Professional Transaction Services protect that dream, and prevent the nightmare.

The very attractive lifestyle benefits of owning a property in Turkiye, are offset by the regrettable practices of estate agents and the solicitors that they refer to. Following the procedures recommended by agents, guides unsuspecting and unknowledgeable buyers into situations where non-Turkish speaking international buyers pay far above local market prices, often for properties that are in some way defective. 

Avoiding this situation requires a recognition of a simple reality. The internet search engine listings for property in Turkiye in non-Turkish foreign languages like English and Arabic, lead straight to the websites of agents that apply these regrettable business practices. These same agents do not even appear in a search engine listing in Turkish. The reason is simple- these type of agents serving foreign investors pay money for various techniques to obtain results for top search engine listings and rankings in foreign languages to catch unsuspecting foreign buyers.

These agents can afford to pay this money because the procedures and practices the agents apply when dealing with foreign buyers and sellers, ensure they profit far more than merely from collecting a 2-3 % commission. This is their ‘standard business practice’, involving a series of steps that are intentionally designed to limit a foreign buyer’s negotiating power, and visibility. Usually these steps are combined with different pressure tactics involving fictitiously created urgency, and other emotional and psychological tactics, accompanied by persuasive skills, and often various degrees of dramatic amateur ‘acting’. 

These practices typically involve the ‘hidden price mark-up’ scam – where-by an agent agrees not to charge a seller (or developer/constructor) a commission, if the agent can keep all money obtained by selling the property for more than a specific price level. And the profit from selling above that price- the hidden price mark up -  agents put in their pocket as their profit- often shared with the attorneys they recommend to clients, the Citizenship CBI/CIP consultants they work with, valuation experts, and mortgage brokers that provide false assurances of mortgage finance, just to encourage the client’s to make deposit payments in advance. 

Just because an agent’s website is now providing information on ‘Due Diligence’, does NOT mean they actually perform professional Due Diligence. Usually, the agent has simply obtained the information on this and other topics from MyTapu’s website and placed onto their own website to appear legitimate… a common practice for years !

Avoiding these practices can NOT be done by using an agent that relies on these practices for their business, because no matter what persuasive assurances they provide, these practices ARE their business- not providing standard real estate agency services. So for example, if a buyer wants to offer a price without deposit or below listing price to a seller, the agent’s usual ploy will be to not to inform the seller at all, and eventually inform the buyer falsely.’ there is another buyer at a higher price’ , or ‘the property has been sold’, or ‘the property has been taken off the market’… and neither the seller nor the buyer will know any different – because they both rely on the agent’s communication. This is a major reason why local Turk’s do not use agents. In summary, the only business these agents are interested in doing, is the business of capturing the hidden price mark-up profit- they won’t bother doing anything else. Which becomes understandable when realizing that the ‘hidden price mark-up profits’ can amount to as much as 80% higher than the true sales price.

Yes, FOR a factual real world EXAMPLE, a USD $ 100,000 price mark-up on a  $ 186,000 property being offered for sale at $ 286,000 in Kagithane, istanbul. 

The additional details, tactics, and solutions all derive from, MyTapu Associates 18+ years of experience dealing with these challenges and guiding, advising, and managing residential real estate transactions in Turkiye…. 

Learn more about the Transaction Services available for buyers and sellers- contact info@MyTapu.com about ‘Transaction Services'... click here.

Read more details in articles...
• Directory of Articles (by Categories) 
• Property Valuations & Appraisal Reports (5 articles)
• Legal Help, Due Diligence, Conveyance (7 articles)
• Property Relates Taxes in Turkiye
• Tapu Issues (7articles)
• Independent Professional Advice (6 articles )
• Reviews about MyTapu Associates (2 articles)
• Buying Property in Turkiye (21)
• Selling property in Turkey (13 articles)
• Property Price Trends in Turkiye