Showing a Low Price in the Deed is Now Risky: Artificial Intelligence Tracking Has Started! A long-standing habit in the real estate sector now carries serious risks: showing the sale price low in the title deed. In particular, the fact that the buyer and seller “mutually agree” to declare the sale price below its real value in the deed, both from the point of view of the state causes large tax losses and registration. But it was growing the economy outside of this period that came to the end of the period. The Ministry of Treasury and Finance is now tracking these transactions instantly with the MEVA (Spatial Data Analysis) System. Tax Loss in Focus, Tracking Has Gone Digital Previously, sales were made for 2 million TL in order to pay the land registry fee less, but 1 million TL was shown in the title deed. This, unfortunately, was a common practice in the real estate market. However, now the state can detect these differences with artificial intelligence-supported systems. The MEVA system analyzes the fair values in the region where the real estate is located, the advertisement prices in the surrounding area, valuation reports and regional sales averages, so that it can instantly check whether the sale price is in accordance with market conditions.  How Does the MEVA System Work? MEVA is working integrated with location-based data throughout Turkey. Precedent prices in the neighborhood where the sold property is located, Sales prices published on advertising sites, Valuation experts' reports, Details such as property type, square meter, age and location It is automatically analyzed. The artificial intelligence-supported system cross-checked these entries and asked, "Why was this property sold at such a low price?" he is looking for an answer to his question. When the system detects a suspicious sale, tax offices are activated. The Official Post May Be at Your Door When it is determined that the declared price is much lower than the market average, an official letter is sent to the taxpayer. However, the process does not start directly with criminal proceedings. The Ministry of Treasury and Finance offers taxpayers a flexibility here: if the difference is declared and paid with regret within 15 days, no penalty is applied. This situation both guarantees the tax revenue that the state will receive, and also allows the citizen to correct the process without being a victim. But beware! If any corrections are not made during this 15-day period, the review and penalty process are initiated. This means both fines, interest and retrospective legal liabilities. CEESS Global Warns: Stop Unregistered Sales! We would like to issue a clear warning to our investors and all real estate owners at CEESS Global: No unregistered transaction is "invisible" anymore. Sales that are shown low in the title deed affect not only today but also tomorrow. In your future trading valuation, In heritage sharing, In asset determinations, In loan valuations, In investor confidence untrue statements will come back to you as harm. Dec paid October 2, 2019, when a property that you declared as TL 2 million in the deed today is valued as TL 4 million by the expert tomorrow; you may have to explain the difference, pay additional taxes and deal with penalties. Now Not Only Humans Are Watching, but Also Artificial Intelligence The most striking aspect of the system is that it works with algorithms, not with human eyes. In other words, the system does not take into account your intentions, but the mathematics of the data. If the counterparts of your house are being sold for 4 million TL and you have declared 2.5 million TL, the system automatically marks this as a “suspicious transaction”. Dozens of parameters such as ads on the Internet, ad duration, square meter price, internal features are analyzed. In short, it is impossible to hide. Honesty Is Now Mandatory in the Sale of Real Estate Declaring over the real value in your sales transactions is no longer a preference, but an obligation. CEESS Global to you valuable investors: The right expertise service, Legal land registry consultancy, Transparent pricing strategies, Support for tax optimization we offer. An honest and transparent real estate Sunday that does not create tax losses increases the reliability of the sector and protects you in the long run.