Lawyer in Israël
Lawyer in Israël
The real estate field in Israel is always boiling, especially in recent years. Everyone needs a place to live, that’s why we can see buildings in construction all over the country. For the purchase of real estate there is a procedure to follow, it is the same for the sale. Selling a property is quite complex and there are many things to evaluate and verify. However, it is enough to follow the step by step process to get a positive and satisfactory result.
There are many reasons for selling real estate. It can happen after a death, a divorce, or simply a decision made for private reasons. It can be a transfer of rights, for example parents who wish to transmit their property to their child. It can also be a donation. There are many laws as well as specific taxes depending on the reasons for the sale. Therefore, it is always advisable to have a lawyer who will follow the steps with the seller. This will ensure that everything is done legally and that there will be no problem in the future.
First and foremost, before even talking about a contract, the seller must follow some important steps. These are the steps that will allow him to make a good sale, legally, and to his satisfaction. Anyone can sell a home, at least if he is the rightful owner. For this the first thing to do is to check under what name the property is registered in the land registry or elsewhere.
After everything has been verified and estimated, it is time to meet to establish the sales contract. For this meeting there is usually the seller and the buyer with their lawyers. Again, lawyers are the guarantee that everything is done legally. It is during the establishment of the contract that the method of payment will be decided and described. The contract must also include the cancellation measures of the latter in case of non-payment of the property.
Another clause included in the contract is the date on which the property will legally pass to the buyer. If there is a tenant or tenants, their situation is described in the contract. Whether they will continue their rental or leave the property. If there is a mortgage or loan on the property, the seller must check the procedure for a transfer. For mortgage or loan transfers, the place to check is the Ministry of Housing.
All commercial terms and conditions and legal clauses and details agreed to by both parties are set out and clearly described in this agreement. The signing of the contract finalizes the sale. It is followed by the handing over of the keys to the new owner.