Contribution What happens if a housing loan is taken more than the current value in the purchase of housing?
Contents
What happens if a housing loan is taken more than the current market value?
In other words; If a loan higher than the current value determined by the municipalities is used in housing purchase and sale transactions, but the price is shown at the current value in the title deed, buyers and sellers are penalized and have to pay interest.
How to learn the title deed value of a house?
How to learn the title deed value? It is enough to go to the municipality to which the house is attached to get the current value certificate of the house. The real sale value of the property is shown, not the tax value or slightly higher. For example, the 400 thousand lira house we gave an example above can be sold for 400 thousand liras, which is its real value, and can be shown as 100 thousand liras in the title deed equal to its tax value.
Does the current value affect the housing loan?
Never show less than the current value of the loan you used. In fact, the most guarantee is to show a fair value slightly higher than the loan. Sometimes, for example, a housing loan of 200.000 TL is used for a house of 400.000 TL and the current value of the house is shown as 200.000.
How to calculate the value of a real estate?
The following formula is applied in this method: Value= Net Operating Income/Capitalization Ratio Net Operating Income = Net income after the operation of the building Capitalization Rate = Expected Return Rate+Depreciation Rate Example: Net income of the real estate= 1,000,000 USD Expected annual income rate= 7.5% The building …
What does the transaction price written in the deed mean?
Sales fee made as a result of the agreement between the buyer and the seller of the immovable property; The title deed is defined as the sale price. As it is known, the fees to be paid for the transfer of title deed are calculated over the sale price of the title deed. The higher the sale price, the higher the fee to be paid for the title deed.
How is the current market price of a house calculated?
The square meters of the relevant residences are added up, the total market value The value is divided by the total square meter, and the result is multiplied by the square meter of the real estate whose current value is to be determined. The result here is the current value per square meter.
How to calculate the rental value of a land?
The precedent rental value, the property tax value of the leased property should correspond to 5% of the amount. For example, the precedent rental value of a real estate with a property tax value of 900 thousand TL is 45 thousand. If the real estate property tax is calculated over 500 thousand TL, it is obligatory to report a minimum precedent value of 25 thousand TL.
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