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Property valuation in Georgia

A valuation is needed where the value of a property has to be confirmed by an independent report rather than by the seller or the buyer: an investment based residence permit, a mortgage, division of assets, a dispute in court.

What the work covers

• Working out the task. What the valuation is for decides which one is required and who may carry it out. There is no such thing as a valuation in general.
• The recipient's requirements. We find out what the authority or the particular bank will accept: the valuer, the form of the report, how recent it has to be. This is done before ordering, not after.
• Arranging the valuation and seeing it through to a finished report.
• Checking the register: area, designated use, owner, encumbrances, from the extract for the property.
• Checking the floor area. Whether the registered area matches the actual one and what the listing or the contract says.
• Explaining any discrepancy: different ways of counting, an unregistered alteration or an error in the record, and what to do about it.
• Correcting the record in the register where the discrepancy calls for it.

What it is for

Investment based residence permit

The value is confirmed by a valuer's report, not by the price of the transaction. The threshold is set by law and gets revised, so it is checked against the position on the day you apply. The sensible order is to find out whether the property clears the threshold before going into the transaction.

Mortgage

The bank calculates the loan from the valuation. Banks usually have their own requirements as to whose report they accept.

Inheritance and division of assets

Where there is one property and several claimants, the valuation is the basis for calculating shares and compensation.

Litigation

The size of a claim for damages or against a developer is supported by a valuation. A report made in time and with an inspection carries more weight than one drawn up after the fact.

What is not included

• Any guarantee of a particular figure. The valuer is independent and the value cannot be fitted to a target. We do not take requests of that kind.
• Any guarantee the authority or bank will accept the report. We find out their requirements in advance, but they decide.
• Technical survey: the state of the structure and the services is an engineer's work.
• Verifying title. That is separate work and belongs to the property service.

What you will need

• The address and cadastral code of the property.
• The extract from the register, if you already have it.
• What the valuation is for and who will receive it.
• The recipient's requirements for the valuer and the report, if known.
• Whether there have been alterations and whether they are registered.
• The actual floor area and how it was measured.
• The date by which the report has to be ready.

How the work goes

1. You describe the task, through the form on the site, by email or in a messenger.
2. A lawyer goes through what you have, what still has to be obtained and where the tight spots are.
3. We agree the scope and the price. You pay nothing before that point.
4. We sign a contract in which the scope of the service is set out in writing.
5. You hand over the documents, we check the set and tell you what is missing.
6. We run the procedure and keep you informed at every step.
7. You receive the result and the full set of documents.

Prices

It has two parts: the certified valuer's work and our support - checking the registry, verifying the area and dealing with discrepancies.

Consultation - from $30. The price for your case is confirmed before the work starts and fixed in the contract.

What is outside our control

• The figure in the report. The valuer is independent.
• Whether the authority or the bank accepts the report.
• How long it takes to correct a record in the register if a discrepancy is found.
• Whether the seller provides documents and access to the property.

If a preliminary look suggests the property is unlikely to clear the threshold for your purpose, you will hear that before you spend money on a valuation.

About this page. It sets out the scope of our service and the general order of the procedure. It is not legal advice and not a public offer: the scope, the timing and the price for a particular matter are agreed individually and recorded in the contract. Requirements, fees and practice change, so anything here is checked against the position on the day you apply. In many procedures the final decision rests with the competent authority and its discretion, so a positive outcome cannot be guaranteed.