Buying property in Batumi

Conditions for purchasing real estate

Buying real estate in Batumi for a foreigner is a simple process. It includes the choice of an object and the availability of the required amount and a passport. Your purchase may take 1 to 4 business days depending on the procedure. The purchase of real estate in Batumi by foreigners and residents is carried out in the same way as in the other territory of Georgia.

Purchase steps

To get real estate in Batumi, follow these steps:

Object selection

There are a huge number of objects in Batumi, and it can be difficult to choose the right one by yourself, this is where we will help you, saving your time. However, we would like to say that the best choice is real estate in Batumi, located by the sea. It is these properties that are the most attractive in terms of investment and other aspects.

Contract of sale with the seller

If the property is purchased not on the primary market, then the contract is drawn up in 3 copies: two in Georgian, one in the buyer's language, otherwise, a preliminary purchase agreement is concluded first, and basic contract is concluded after the object is put into operation. It is drawn up by the developer, but before signing it should be checked with the help of a professional lawyer and you can improve the terms of purchase. Or they will print a unified template for the contract of sale in the House of Justice, which it will also be possible to sign there. Then, with the signed contract, you need to go to the consultant and make an statement confirming the ownership, for 200 GEL you will get it on the same day, for 150 GEL - on the next day or for 50 GEL after 4 days. Payment is made at the House of Justice.

Buying Property

This is done in cash, by credit, in installments or through safe deposit box or letter of credit. In the first case, one should take into account the difficulties of transporting a large amount of money across the border. In the case of a credit, a mortgage is issued for a foreigner by a Georgian bank and the initial payment will be greater than that provided for by the standard conditions, and the assistance of a Georgian guarantor or a Georgian company will also be required. In addition, usually the term of the mortgage for non-residents is shorter - up to 5 years. There is also an option with an interest-free installment plan, the buyer only has to make an advance payment of 20-30%. Safe deposit box or letter of credit is a safe method of payment, but it implies an additional payment for banking services.

Statement from the public register of real estate in Georgia

At the appointed time you will pick up your statement from the House of Justice. It will be in a simple form with an international barcode at the top, indicating the authenticity of the document. The contract of sale of real estate in Batumi does not need to be notarized, since the data of the State Public Registry Agency is stored with the using of blockchain technology, and it is not possible to change or manipulate information about real estate. But if necessary, you can order a translation of a property statement from Georgian into your native language and notarize it. This service is inexpensive - about $30.

Remote purchase

You can buy real estate in Georgia, including Batumi, remotely by registering and sending real estate to our lawyer. Such transactions are safe due to the fact that the National Public Register of Real Estate in Georgia is maintained with the using of blockchain technology, and we, in turn, are interested in preserving our own reputation. Guaranteeing the security of transactions is our high responsibility!