Your Guide to Secure Apartment Investment in Batumi: Verify & Protect!

Batumi’s real estate market offers exciting opportunities, but like any investment, it requires careful due diligence. This guide will walk you through essential steps to verify your property and protect your funds, ensuring a legitimate and trouble-free purchase.

1. Verify the Developer/Seller: Building Trust from the Ground Up

Before you even look at an apartment, verify the entity selling it – whether it’s a developer or a private seller.

Developer’s Legal Status & Registration (for New Builds):

What to Check: Ensure the company legally exists, verify its registration number, and check details about its directors.

Where to Check: The National Agency of Public Registry  NAPR – Business Registry.

How: Visit the  NAPR Business Registry and search using the developer’s name or registration number. This confirms their legal standing in Georgia.

Developer’s Financial Compliance (for New Builds):

What to Check: Review the company’s submitted financial statements and confirm their reporting compliance. This gives you an insight into their financial health.

Where to Check: The Service for Accounting, Reporting and Auditing Supervision SARAS – Financial Reporting Portal.

How: Access the SARAS Financial Reports and search for the developer’s company name. Look for consistent reporting and no red flags.

2. Verify the Property: Ensuring a Clear Title and Legal Construction

This is where you confirm the apartment’s legal standing and that it’s free from issues.

Property Ownership & Encumbrances:

What to Check: This is crucial! Verify who legally owns the land/property, ensure there are no existing mortgages, liens, arrests, or other encumbrances (legal claims) on the title.

Where to Check: The National Agency of Public Registry  NAPR – Property Registry. This is the most vital step.

How: Visit the  NAPR Property Registry and search using the property’s cadastral code (a unique identification number for land plots and buildings). You can obtain an extract that details ownership history, current owner, and any registered burdens. This is non-negotiable for any property purchase.

Building Permits & Construction Registration (for New/Under-Construction Builds):

What to Check: Confirm that the developer has all necessary official building permits and that the construction itself is legally registered. This ensures the building isn’t illegal and will be completed according to regulations.

Where to Check: Primarily the National Agency of Public Registry  NAPR – Property Registry (for land rights and registered constructions).

Local Permits: Batumi City Hall Batumi.Ge issues local construction permits. While direct online search for individual permits can be limited for the public, an experienced local lawyer can help verify these records. Ensure the project is approved by the relevant local authorities in Batumi.

3. Protect Your Investment: Essential Safeguards

Beyond verification, proactive steps are key to safeguarding your money.

Engage an Independent Georgian Lawyer:

Thorough review of all documents from  NAPR, SARAS, and Batumi City Hall.

Drafting or reviewing the purchase agreement to protect your interests.

Ensuring all terms are clear, including payment schedules, completion dates, and penalty clauses for delays.

Representing you during the registration of ownership.

Understand Payment Structures:

Staged Payments: For new builds, often payments are tied to construction milestones. Ensure these milestones are clearly defined and verifiable. Avoid large upfront payments without significant progress.

Escrow Accounts (if available/applicable): Explore options for payment through an escrow account or a similar secure mechanism where funds are held by a neutral third party until contractual conditions are met.

Review the Contract Thoroughly:

Ensure the contract clearly states the exact property details, price, payment schedule, completion deadlines, quality of materials, and what happens in case of delays or disputes.

Look for clauses related to penalties, dispute resolution, and force majeure.

Physical Inspection:

For Completed Apartments: Always conduct a thorough physical inspection of the apartment before final payment. Check for defects, quality of finishes, and functionality of systems (plumbing, electrical, heating/cooling).

For Under-Construction: Regular site visits (if possible) or requesting progress updates (photos/videos) from the developer or your lawyer.

In Conclusion

Investing in Batumi real estate can be highly rewarding. By diligently utilizing official resources like  NAPR and SARAS , understanding the role of Batumi.Ge City Hall in local permits, and most importantly, securing the expertise of an independent Georgian lawyer, you can confidently navigate the process, verify legitimacy, and protect your investment from start to finish.

Crucial Advice: This is the most important step you can take. Always hire a qualified, independent Georgian lawyer. Do not rely solely on the developer’s or seller’s legal team, Also Our company offers this service AGI legal.

Role of the Lawyer: Your lawyer will conduct comprehensive legal due diligence.