How to Buy an Apartment in Installments or with a Mortgage in Batumi

Installments or mortgage — which is right for you? 🏡

When buying in Batumi, you often choose between a developer's installment plan and a bank mortgage. Installments are usually simpler and faster to arrange; mortgages offer long-term financing and more flexibility in managing payments. Decide based on your cash flow, residency status and long-term plans.

Developer installments — what to watch for 🏗️

• Interest-free short-term installments are common on early-stage projects.
• Longer-term plans may include modest interest or tied payment schedules.
• Typical scheme: down payment, scheduled payments during construction, final settlement at handover.

Key checks:

• Payment currency (lari or foreign currency).
• Penalties for late or early payments.
• Guarantees for project completion and developer's reputation.
• Timing of ownership transfer and registration.

Bank mortgages in Georgia — basics to know 🏦

Mortgages require income verification and a full document package. Banks appraise the property and check borrower creditworthiness. Non-residents may face higher down payments or stricter conditions.

Discuss with the bank:

• Loan currency and indexation rules.
• Early repayment options and fees.
• Insurance requirements for property and borrower.
• Appraisal process and legal clean title verification.

Step-by-step buying process ✅

1. Choose and view properties, focusing on location, developer history and rental potential.
2. Pre-check legal status: land ownership, construction permits, expected completion dates.
3. Decide the financing route: developer installment or apply for a mortgage.
4. Negotiate and clarify all contract terms, payment schedule and penalties.
5. Sign the agreement and pay the initial deposit.
6. Register ownership in the Public Registry after final payment or as agreed in the contract.

Documents and legal verification 🧾

• ID and tax identification of buyer.
• Purchase agreement, installment contract or loan agreement.
• Developer documents: construction permit and project documentation.
• Check for encumbrances, liens or legal claims on the property.
• Acceptance certificate and proof of payments.

Notes for non-residents and investors 🌍

Foreign buyers can purchase property in Georgia, but banks often request larger down payments or additional documentation for mortgage approval. Investors should assess liquidity and rental demand: consider both short-term tourist rentals and long-term tenants.

Practical tips and common pitfalls ⚠️

• Read the contract carefully, especially clauses on force majeure and handover dates.
• Clarify taxes and fees related to registration and transfer.
• Watch the payment currency: exchange rate shifts can change costs.
• Insist on clear payment schedules and receipts for every transaction.

How BuyHome can help you 🤝

BuyHome helps vet projects, compare installment offers, prepare documents for banks and perform legal and technical checks. We negotiate on your behalf and guide you through registration. Start your property search at https://buyhome.ge/en/search and explore options tailored to your goals.

If you plan to buy in installments or take a mortgage, contact us for a friendly consultation. We'll help assess the best financing route and support the entire purchase process.