If you came to visit this blog, I assume you know very well how does the crypto market work, how do people make money from crypto, how to withdraw crypto, and so on. Long story short, this blog is for experienced crypto traders or holders, who made some profits on the crypto markets and are looking for alternative investment possibilities. Such as buying a house with crypto. Some of the people approached me asking, if they can buy a real estate property using cryptocurrency in Georgia, that is why I decided to answer that question with a separate blog.
Can I buy an investment property in Georgia, a Country with Bitcoin?
In Georgia the official exchange currency is Lari, this applies to real estate. All the property sales must be done in the local currency. The question is, does this actually work nowadays? I would say yes, for companies. Companies need to align themselves with the legislation. However, what do the individuals do? The truth is that, once the transaction is done most of the local owners accept USD until now. For private owners, restrictions are not in place yet.
How can I buy a property with Bitcoin or another crypto in Tbilisi, Georgia?
Now that you know, how real estate trading works in Georgia, you probably want to know how you can buy a property actually in Bitcoin. What are the footsteps to follow? How does it precisely? There is your checklist for buying a house in Georgia with Bitcoin or any other crypto.
Checklist for purchasing real estate with crypto
- Find the property that you like. Should be the private owner. Now, the private owner does not always mean you do not get a good deal. Some people think so, but this is absolutely not true. You can get amazing deals with the owner. Sometimes prices can be below the developer company’s price. If you are looking for such deals, you should for sure contact me.
- Agree on payment terms. The seller might agree to get paid in BTC. It is absolutely their responsibility. Now, most people yet are not familiar with the crypto market, they find it to be a scam or whatsoever. In that case, find an agent maybe who can assist you to smoothen the procedure.
- Once you agreed on property purchase payment terms, you can then move forward with registering your property.
How to buy a property with Bitcoin remotely?
Did you know you could purchase a property remotely? You do not need to be physically traveling to Georgia in order to buy a condo here. I understand, that you might need to see the property before you invest. But for some people, do not have to see investment property before they make an investment. it is just an investment property, they find a reliable developer or an agent who can also manage their properties. This way, they can just settle the payment when their agents do the rest of the job with property registration and later property management.
Checklist for buying real estate remotely with Bitcoin:
To buy investment property remotely, without even visiting the country and leaving your own home, you need to follow the following checklist:
- Find a reliable trustee in that country. That could be our company or any other.
- Find a real estate investment property of your needs.
- Agree with payment and other terms
- Sign the pre-purchase agreement remotely. For this reason, you need to send apostilled or legalized POA in Georgia. The original is required. Your trustee then will translate and notarize it.
- Settle the payment.
- Ask your trustee to sign the final purchase agreement.
And, Walah! The next day you are the owner of the property.
Best Luck and High gains 🙂