We find apartments, houses and plots in Kobuleti, check the documents and run the deal through to the registry extract. We calculate the real annual income rather than the August rate, and say plainly if a property will not pay back.
What we check
The registry extract: owner, encumbrances, attachments, charges; for new builds — the permit, the status of the building, the contract with the developer; arrears on utilities and management company fees; the layout and floor area against the documents; the state of the engineering in older stock, with an instrument inspection where needed.
What we take into account in Kobuleti
This is the sharpest seasonality on the coast: in summer everything is occupied, in winter the town empties. So the buyer’s main mistake is calculating the yield from summer rates. We give a month-by-month calculation including the winter gap, from the actual figures of properties we manage.
The second theme is the housing stock. There is a lot of economy-segment housing and older buildings where aluminium wiring and cast iron risers turn up under fresh finishes. That is not a reason to walk away, but it is money, and it belongs in the negotiation.
The third is arrears: older buildings sometimes carry accumulated utility debts that pass with the apartment.
The deal
Negotiation, deposit, contract, the Public Service Hall, registration, handover of keys. For buyers from outside Georgia — a power of attorney, settlement through a bank or a notary’s escrow account.
After the purchase: renovation, outfitting, management. All services: Kobuleti; general terms: property search.
