What Should I Consider When Selling My House?

What Should I Consider When Selling My House?

Selling a house is an important financial decision that requires careful planning and strategy. Taking the right steps both financially and legally can protect the seller from unnecessary expenses and difficulties. If you're considering selling a house in a rapidly appreciating area like Konyaaltı, Antalya, managing the process becomes even more crucial. So, what should you consider when selling your home? Here are the key points to know in order to achieve a successful sale:

Determining the Market Value

Before starting the sale, it is crucial to determine the property’s market value correctly. The neighborhood, surrounding conditions, accessibility, and sale prices of similar properties are important factors that influence your property's value. Seeking help from a professional real estate consultant ensures your property is priced correctly for the market.

Assessing the Condition of the Property

It’s essential to remember that buyers may have concerns about the physical condition of the property. Carrying out maintenance before the sale, fixing any necessary repairs, and making improvements such as painting can increase the value of the home. If possible, obtaining an expert report can provide more insights into the technical condition of the property. Additionally, decluttering the home as much as possible can help buyers envision a larger and cleaner living space.


Taxation and Legal Obligations: Capital Gains Tax on Real Estate

When selling a house or real estate, one of the most important aspects to consider is the taxation process. In Turkey, a capital gains tax is applied to real estate sales under certain conditions.


Who Pays This Tax?

If you sell a property that you purchased less than five years ago, the profit between the purchase and sale price is subject to taxation. However, if you purchased the property five years or more ago, you are exempt from this tax.


How Is the Tax Calculated?

For properties held for less than five years, the tax calculation follows these steps:

  • The purchase price is updated using revaluation rates (considering inflation adjustments).
  • The difference between the updated purchase price and the sale price is considered profit.
  • This profit is taxed according to the progressive income tax rates outlined in the Income Tax Law.

Exemptions from the Tax:

  • Properties held for more than five years.
  • Sales of properties acquired through inheritance (heirs are exempt from this tax).
  • Sales of properties acquired through donations.

Real Estate Owned by Companies

If the property is registered under a company, the taxes and calculation methods for profits may differ. In such cases, it is recommended to consult a financial advisor or tax consultant.
By paying attention to these details during your real estate transactions, you can fulfill your legal obligations and avoid potential financial burdens.

Preparing the Listing and Marketing

An effective listing can make a significant difference in the sale of a home. When preparing your listing, emphasize the strongest features of the property. High-quality photos and detailed descriptions that showcase the interior and exterior of the home will attract potential buyers. Additionally, using the right marketing strategies to reach a wide audience is essential. Real estate platforms, social media, and local ads can be effective tools for promoting your listing.

Negotiation and Agreement with the Buyer

The negotiation process with the buyer is also a critical phase in the sale of a house. After setting the sale price, it's important not to rush the agreement. Understanding the buyer’s needs and identifying areas where price flexibility may be necessary will make the process easier. To avoid disputes between the buyer and seller, having a written agreement is crucial.

Sales Contract and Legal Procedures

Before selling your property, a sales contract must be prepared. The contract should clearly outline the sale price, payment terms, delivery date, and other details. Additionally, it’s necessary to visit the Title Deed Office to complete the title deed transfer process correctly. This step ensures a safe transaction for both the buyer and the seller.

Professional Support

There are many important factors to consider when selling a home. Market value, property condition, tax obligations, marketing strategies, and legal procedures are all critical elements to ensure a smooth sale. If you plan to sell a house in Konyaaltı, Antalya, having the support of a professional real estate consultant will be highly beneficial during this process.

I, Nurettin Hacıoğlu, have been providing real estate consulting services in Konyaaltı, Antalya since 2013. I can help guide you through the selling process, ensuring that your sale is completed quickly, securely, and profitably. Feel free to contact me for expert assistance in determining the right price for your property, clarifying tax processes, and managing all legal procedures. With my experience and in-depth knowledge of the area, I will help you sell your property in the best way possible.