Buying off-plan in Georgia: a checklist before you pay a deposit
Buying a flat before it is built is popular in Georgia. Prices are usually lower than for finished flats, and many developers offer instalment plans. The trade-off is risk: you are relying on the developer to deliver what was promised, on time.
1. Check the developer, not just the building
Look at how many projects the developer has actually completed and handed over. Visit one if you can, and ask residents about the quality and any delays. A beautiful render says nothing about who is building it.
2. Check the land and permits
Ownership and registered rights over a property in Georgia are recorded in the Public Registry. Ask your lawyer to check that the developer controls the land, whether there are any mortgages or disputes registered against it, and that the building has the necessary permits. Pending court cases are a warning sign.
3. Read the contract carefully
A preliminary agreement usually secures the flat with a deposit. Before signing, make sure the contract states the exact flat, its size, the finish level, the total price, the payment schedule and the completion date. Check what happens if the developer is late, and what happens to your money if you or the developer cancel.
4. Pay safely
Pay by bank transfer to the company named in the contract and keep every receipt. Avoid cash payments and payments to personal accounts.
5. Get a local lawyer
An independent, English-speaking Georgian lawyer is a small cost compared with the price of a flat. They can review the contract, check the registry and attend the registration with you. This applies even if you are buying from abroad: a power of attorney can allow a representative to act for you, but be sure you trust the person you appoint.
6. Plan for handover
Inspect the finished flat against the written specification before accepting it, and list any defects. Ownership is registered at the Public Service Hall, which is usually quick, and then you can connect utilities and, if you wish, start renting it out.
A final word
No checklist removes all risk. Take your time, compare several developers, and be cautious about pressure to pay a deposit quickly. This article is general information, not legal advice.