Buying Process

Buyer's Fees

Buyer's fees encompass the mandatory and optional ancillary transaction costs incurred by a purchaser when acquiring real estate. These typically include public registry registration fees, notary charges, legal counsel fees, document translation costs, and bank transfer surcharges. In Georgia, buyer's closing costs are among the lowest globally, typically totaling less than 1% to 2% of the purchase price.

Buying Process in Georgia

The buying process in Georgia refers to the standardized legal and administrative workflow required to purchase real estate. Characterized by minimal administrative friction, the procedure involves property due diligence, contract execution, and official registration with the National Agency of Public Registry (NAPR), allowing foreign buyers to acquire freehold non-agricultural real estate quickly.

Closing Costs in Georgia

Closing costs in Georgia refer to the total administrative, legal, transactional, and official fees required to finalize a real estate acquisition and register title ownership with the National Agency of Public Registry (NAPR). Georgia boasts some of the lowest closing costs globally, typically ranging between 0.5% and 2% of the purchase price, primarily due to the absence of property transfer taxes or stamp duties.

Delivery Inspection / Snagging

A delivery inspection, commonly referred to as snagging, is the formal physical examination of a newly constructed property conducted by a buyer or surveyor prior to final legal possession. Its purpose is to identify construction defects, cosmetic flaws, or contractual non-compliance, compiling them into a snagging list for developer rectification.

Deposit / Down Payment

A deposit or down payment is an upfront monetary sum paid by a buyer to secure a real estate purchase agreement. It demonstrates financial commitment to the transaction and is credited toward the total purchase price. In off-plan acquisitions, it represents the initial tranche of an installment plan, whereas in secondary sales, it serves as earnest money.

Escrow Account in Georgia

An escrow account in Georgia is a specialized financial arrangement where a commercial bank acts as a neutral third party, holding transaction funds until contractually specified conditions—such as final title registration at the Public Service Hall—are met. While voluntary, it provides essential protection for international buyers against counterparty and title risks.

Final Sale Contract

A Final Sale Contract is a binding legal agreement executed between a buyer and seller that officially transfers legal title of real estate. In Georgia, it serves as the definitive document submitted to the National Agency of Public Registry (NAPR) to register ownership, setting final purchase terms, payment settlement details, and property specifications.

Power of Attorney

A Power of Attorney (POA) in Georgian real estate is a legally binding authorization granting a representative authority to act on a buyer's or seller's behalf. It permits non-resident investors to execute property purchases, register titles at the Public Service Hall, set up bank accounts, and manage tax filings without physical presence in Georgia.

Preliminary Sale Contract

A Preliminary Sale Contract is a legally binding agreement in real estate transactions that obligates the seller to sell and the buyer to purchase a property under specified terms before final title transfer. In Georgia, registering this contract with the National Agency of Public Registry (NAPR) protects the buyer by encumbering the title against third-party sales or mortgages.

Property Handover

Property handover is the operational stage in a real estate transaction where legal possession, physical control, and risk of damage transfer from the seller or developer to the buyer. In Georgia, this process typically culminates in the signing of a Delivery-Acceptance Act following a thorough pre-handover inspection of the premises.

Remote Property Purchase in Georgia

A remote property purchase in Georgia allows non-resident individuals or entities to legally acquire real estate without physically visiting the country. The transaction is primarily facilitated by issuing a notarized and apostilled Power of Attorney (POA) to a local legal representative, who executes contracts and completes title registration with the Public Registry.

Reservation Agreement

A reservation agreement (or booking agreement) is a preliminary legal document used in real estate transactions where a buyer pays a nominal deposit to temporarily remove a property from the market. It secures the unit and agreed purchase price for a specified period—typically 7 to 30 days—allowing time for due diligence and contract drafting.

Reservation Fee

A reservation fee is a preliminary payment made by a buyer to a real estate developer or seller to temporarily remove a property from the market. It secures a short window—typically 7 to 30 days—allowing the buyer to conduct due diligence and finalize contracts.