Project review
What to check before buying property from a developer in Georgia
Buying from a developer can offer a new product and a staged payment plan, but it also means making decisions about a future outcome. The quality of the decision depends on separating the developer, the specific project, the contract and the financial structure into distinct areas of review.
01
Review the developer's record
Identify the legal entity behind the project and examine available information about the wider group. Look for completed developments, stated delivery dates, the condition of delivered common areas and whether earlier projects resemble the current promise.
A strong brand presentation is not the same as an execution record. Ask which claims can be verified, which depend on third parties and whether the sales team is describing the developer, an intermediary or a separate project company.
02
Examine the specific project
The project's location, permit status, construction stage, contractor, specification and intended operating model need separate attention. Visit the site when possible and compare reported progress with what is visible. Consider access, surrounding construction, future density and factors that may alter light, views or convenience.
Clarify what will actually be delivered: shell condition or finished unit, fixtures, heating or cooling, furniture, common areas and landscaping. The total cost cannot be understood until completion and furnishing obligations are clear.
03
Understand the contract
Obtain independent Georgian legal advice before commitment. The lawyer should review ownership and registration matters, the contracting entity, payment obligations, delivery provisions, remedies, termination rights and the process for registering the completed property.
Marketing statements should not be assumed to form part of the contract. Important specifications, promised inclusions and agreed changes need to appear in the relevant documents. TD Luxe's commercial project review does not replace legal, tax or technical advice.
04
Stress-test the payment plan
Map every payment date, currency exposure and condition attached to instalments. Check whether the schedule follows construction milestones or fixed dates, what happens if the investor pays late and what options exist if personal circumstances change.
Keep room for closing, completion, furnishing and operating costs. A low initial payment can make entry easier while concealing a demanding later schedule. The right plan is the one the investor can sustain without relying on an uncertain sale or rental outcome.
05
Test the commercial logic
Define the intended tenant or future buyer and compare the unit with existing and planned supply. Review layout efficiency, floor, orientation, noise, building scale, recurring charges and the consistency between the project's concept and its likely audience.
Guaranteed-sounding rental language deserves particular care. Ask who operates the rental programme, which costs are deducted, whether participation is mandatory, how usage restrictions work and what happens if the operator or market conditions change.
06
Create a decision file
Keep the offer, price history available to you, payment schedule, plans, specification, correspondence, questions and professional advice in one file. Record unresolved points and assign responsibility for answering them before a deposit becomes non-refundable.
A disciplined review may still lead to a purchase. Its purpose is not to eliminate every risk, which is impossible, but to ensure the investor understands what is known, what remains uncertain and which protections or negotiation points are proportionate.
Minimum review checklist
- 01Developer and contracting entity
- 02Project status and visible progress
- 03Specification and total completion cost
- 04Independent legal review
- 05Payment schedule and currency exposure
- 06Target tenant or resale buyer
- 07Unresolved risks and negotiation priorities
