Do you know who pays the title deed fee when planning to sell or buy a house?
You are thinking of buying or selling a house… If you have any questions about the title deed transactions, read on to find out the details.
In real estate purchase and sale transactions, title deed fee should be divided equally between the buyer and the seller, according to the law. However, if an agreement is reached, this expense can be covered by a single party and it is often seen that this party is the buyer.
What is the Land Registry Fee?
The title deed fee is a price to be paid in house purchase and sale transactions and must be paid for many immovables such as residences, workplaces, land, plots, fields, gardens, shops, stores. The purchase cannot be completed without paying this fee. In addition to the title deed fee, the title deed revolving fund costs should also be counted among the payables.
How Much is the Title Deed Fee in 2022?
The title deed fee is calculated as 4% of the sales price of the real estate declared in the title deed. This amount can be learned online within the scope of the revolving fund contribution, title documents and title deed fee, which must be invested at a determined rate each year. The title deed revolving fund, which is an item of the deed transactions, is 385 TL for the year 2022.
Who Pays the Title Deed Fee?
According to the relevant laws, the title deed fee should be divided between the parties and paid equally. However, in our country, the title deed fee is usually paid by the buyer.
What are the Documents Required for Land Registry Procedures?
When a real estate purchase and sale transaction will be made, different documents are required for real persons and legal entities. In both sales techniques, if someone else will make the sale instead of the landlord, it is obligatory to obtain a power of attorney from the notary public. We can list other required documents as follows:
• Certificate of title
• Original and photocopy of the Identity Card (both sides)
• Current photo (2 from the buyer, 1 from the seller)
• Representation document, original and photocopy of identity card and photograph
• DASK insurance policy
• Fair value certificate (to be obtained from the municipality)
• No tax debt letter (to be obtained from the municipality)
Where is the Land Registry Fee Paid?
Title deed fees are deposited to the tax office of the region where the deed is carried out. It can also be collected by banks authorized by the Ministry of Finance.
If you want to sell or buy a real estate, as GRAND EMLAK, we are here to answer every question in your mind and to guide you to the most profitable investments.
