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Real Estate Due Diligence in Georgia

Updated on Monday 27th February 2017

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Real-Estate-due-Diligence-in-Georgia.jpgReal estate due diligence in Georgia refers to the procedures which have to be completed prior to purchasing a real estate property in this country. Foreign investors who want to open a company in Georgia should know that the procedure is also available for commercial properties, but it is necessary to know that due diligence is not an obligatory procedure under the local law, as it is only recommended to verify if the respective property is sold with no hidden liabilities. Our team of lawyers in Georgia can assist with advice on the procedure. 
 

Due diligence guidelines in Georgia 

 
When purchasing a commercial property, investors who are interested in company formation in Georgia are highly advised to start the due diligence procedure, which is comprised of a set of steps that will verify various aspects related to the respective property
 
Thus, investors are advised to verify the legal background of the property and our team of company formation representatives in Georgia can offer assistance on the property’s main documents
 
At the same time, investors can perform environmental due diligence, which will testify if the property respects the requirements established by the local legislation for environmental aspects
 
The procedure starts by visiting the respective location and it can include the participation of the seller, as well as of the real estate brokers. Investors are advised to be represented by attorneys in Georgia
 

Aspects to consider when performing due diligence in Georgia 

 
Foreign investors who are interested in the procedure of company registration in Georgia should verify a set of aspects when performing due diligence on a commercial property that will be used as a main business location, as follows: 
 
inspections carried out by the seller;
surveys of the land/ property performed by the seller;
insurance aspects;
litigation cases on the property;
environmental aspects;
taxation matters related to the property;
the property’s current bills;
construction documents
 
Businessmen interested in further information on the real estate due diligence are invited to address to our team of consultants in company registration in Georgia for a full assessment of the Georgian property
 
 
 
 

Comments

  • Derek 2017-02-27

    I think the due diligence should be performed, especially when purchasing a property in a foreign country.

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