Business Purchase
What does BT.GE exclusive service mean in terms of purchase?
If you are planning to buy a business (land plot, commercial premises, object under construction with building permit, enterprise, etc.) in Georgia and order it to BT.GE, a team of experienced business brokers will search exclusively for you the property, meeting your interests, will conduct the business trade process until you finally purchase it. You will have an exclusively personal business broker in a specific area, who will provide business trade process for you in accordance with your interests on the basis of a 24/7 communication format.
Is the information posted on the website about the property under the salereliable? Is it possible to verify that?
When a business object is sold in the frames of exclusive service or at a BT.GE auction, the information is 100% correct and verification is naturally possible. In such cases, BT.GE takes responsibility for ensuring that the information reliability. When a business object is sold by the owner himself, the reliability of the information must be clarified with the owner (contact details of the owner are indicated in the application).
Is it possible to inspect the property before the purchase?
Yes. In case you are interested in a property, you have an opportunity to inspect the business object and verify the information outlined in the application.
When and how can be the information about the property under the sale verified if it is not posted on the website?
If the interest in purchase of the property is real, an “Agreement of Intent” will be signed, according to which you, with a guarantee of 100% protection of information confidentiality, will have the opportunity to overview, evaluate and verify any information. To obtain this right, an advance must be paid by you (the amount of the advance will be agreed during the process). Naturally, if while the inspection it turns out that, the reality does not correspond to the information outlined in the application, the advance will be returned to you immediately.
Where is the sales and purchase agreement signed?
The sales and purchase agreement is signed at the notary bureau and/or in the National Public Registry Agency.
Business for sale
Who and how determines the market value of a property put up for sale?
The initial market value (price) of the property put up for sale is determined by the owner. If the BT.GE team considers the price too inadequate, the price might be adjusted through consultations conducted with the owner. Naturally, the final price is clarified during the process of a business trading (i.e. via negotiations conducted with the participation of the owner and the potential buyer).
What does BT.GE exclusive service mean?
When the BT.GE team exclusively sells the property, it means that the BT.GE team prepares this property for sale, posts it on the website (www.bt.ge), makes public advertising on social networks and, most importantly, with the involvement of a large team of Georgian and foreign business brokers, tries to sell the object by means of direct negotiations. In the frames of an exclusive service, BT.GE receives benefits only in case of successful completion of business trade process, i.e. sale of the property.
What does non-exclusive service mean?
In the frames of non-exclusive service the property is posted on the BT.GE website (www.bt.ge) by the owner himself, and the process of business trade is conducted without engagement of BT.GE business brokers team. In cases like this, the contact mobile number of the owner is indicated in the application, thus denoting that the owner himself holds the process of negotiations with the interested parties.
What information is needed to post an application on the platform?
Information needed for each object: cadastral/identification code of the object, contact information of the owner (mobile; e-mail), description of the object under the sale in 1-2 sentences. Other information being clarified within consultation process with a BT.GE representative.
How much does the BT.GE service cost and when should I pay?
If you are the user of the exclusive BT.GE service, as a standard, after the sale of the property you pay 5% of the purchase price (the commission may vary depending on the complexity of the business trade process and the value of the property).
If you are the user of the non-exclusive BT.GE service, you pay $79 US dollars per month (including VAT) for posting a property for sale on the site.
Business Auction
Is foreclosed property sold at BT.GE auction?
No! The BT.GE auction does not apply foreclosed properties. It is prohibited with us (on our platform). The property is sold via auction on BT.GE website only at the request of a business owner, willing to sell the property faster.
The service of BT.GE auction is also used by the business partners, who jointly own a business property, plan to sell it, but are not able to agree upon the sale price (one willing to sell it at a high price, the other – at a cheaper price). In cases like this, the initial price for the business property is high, and on certain stages it is sold with a discount of 25% or 50% percents.
Is auction held throughout Georgia only?
The auction is held internationally, with the use of three working languages (Georgian, English, and Russian). Individuals living in Georgia and abroad, interested in business purchase on the territory of Georgia participate in a business bidding process at the auction.
Is it mandatory to make a prepayment at the auction? Is prepayment received back, if I don’t win the auction?
Yes! The prepayment in a business bidding process via auction format is mandatory. The amount and the payment methods of the prepayment are specified in the application for the auction. If by participating in bidding you will be able to purchase a property, the prepayment will be included into the purchase price. If you fail to buy a properity via bidding at the auction, the prepayment will be returned you back in full.
If my business (a land plot, a real estate, a company, etc.)is forcibly seized by the debtor, but I still have a deadline for sale, can I submit such property to the BT.GE auction on my own initiative?
Yes! If your business undergoes some troubles and the property is a subject of a forced sale, we are able to assist you, and on your own initiative, try selling out the property via BT.GE auction, before the forced sale (thus, this process enables you to pay the debtor the amount due, and keep the surplus).
How does the bt.ge auction differ from other auctions?
Due to rather bad practice common in Georgia, only foreclosed and problematic property is sold at the auctions, this is the reason why honest and conscientious buyers avoid auctions.
No foreclosed property will ever be sold at our auction. With us the property is sold only by the owner himself at his own will. Accordingly, the participants of our auction are involved in a healthy business bidding process and the right practice will gradually be established in Georgia, denoting the auction to be the healthiest and correct form, when the owner takes his property for sale (the owner sells the property faster and at the right price).
Searching For a Partner
What does to find a partner in business mean?
If you are planning to: strengthen your active business, add new products, expand the market and feel in need for the support of an experienced company, it might be done through relinquish of a certain amount of your business interest (%) to someone, this means - engaging a partner into business.
Is BT.GE capable to find me a business partner or it just spreads the information?
If you via exclusive service of BT.GE require for searching of a desired business partner, the BT.GE business brokers will work hard to find the most appropriate one and connect him/them with you.
If you believe that you can negotiate with potential partners on your own, then you have to post an application on the BT.GE website (www.bt.ge), provide your contact information and negotiate directly with the business representatives interested in being partners with you.
Is it possible to find a partner for startups?
In general, it is easier to find a partner in case of an active, operating business. If your business idea is very strong or you already have some assets (for example: a land plot, a building, the patent), but think that you cannot start up a business alone and that you need a strong partner, in this case it is possible to find one.
How much does the BT.GE service cost and when should I pay?
If you use the exclusive BT.GE service to find a partner, you pay a fixed commission in case, when a business partner is found (the amount of the commission will be agreed with the BT.GE team at the initial stage of cooperation).
If you yourself plan to negotiate and communicate directly with interested parties at all stages, i.e. you do not use the exclusive service of BT.GE, then you have to pay $79 US dollars per month (including VAT) for posting an application on the website.
Will BT.GE find me a business partner only in Georgia?
When the BT.GE team in the frames of exclusive service manages the process (i.e. searches a partner for you), it posts an application publicly and, with the involvement of a business brokers team from Georgia and abroad, start a searching process of a business partner for you both, on the territory of Georgia as well as outside the country borders.
Investing in Business
Is it possible for BT.GE to find an appropriate investor for my active business?
Yes, BT.GE team of business brokers will work hard to search for a company or individual generally willing to invest into business, to attract with the aim of investment into your active business,. In cases like that, it is mandatory for you to have ability for managing business processes very well. The business must be active, efficient, promising, and fundraising is needed to move to a new stage of development, to increase productivity, to transform the project into a more profitable business model. For example: you plan to supply your enterprise with a new machineries, or you have a plot of land with a building permit, the bank will finance you with 70%, and you want to fill 30% with the assistance of the investor.
Will BT.GE be able to find me an investor or just spreads the information via web-site?
If you in the frames of BT.GE exclusive service make an order to search for appropriate investor, our business brokers will assist you to find one with the aim of investment into your business. If you believe that you can provide proper negotiations with a potential investor on your own, then, you will have to post an application on the BT.GE website (www.bt.ge), provide your contact information and begin negotiating directly with investors interested in your business.
Is it possible to find a partner for startups?
If your business idea is very strong, you already have an asset (for example: land plot, building, the patent), some financial resources or another source of financing (e.g. bank loan, grant), and you only need to replenish budget, there is an opportunity to find an appropriate investor and find additional financing resources.
How much does the BT.GE service cost and when should I pay?
If you use the exclusive BT.GE service aimed at investment searching, after the abovementioned is provided, you pay 2% of the investment agreement budget (the amount of an interest may vary depending on the complexity of investment negotiations and the volume of investment itself). If you plan to negotiate on your own, and communicate directly with interested parties at all stages, that is, if you are not a user of the exclusive services of BT.GE, then you pay $79US dollars per month (including VAT) for posting an application on the site.
I have some spare amount of money and want to invest in a business, what do you suggest?
The experienced team of business analysts, financial managers, lawyers and business brokers of BT.GE will assist in finding for you the appropriate business project, in accordance with your interests thus helping you to make the right investments. Business investment with the assistance of the BT.GE team is possible only if the investment budget exceeds $100,000 US dollars. With BT.GE it is realizable to invest in any type of active business operating in Georgia. Priority areas: manufacturing, construction, hydropower plant, hospitality field, shipment, healthcare, storage/warehouses, e-commerce.