Lawyer in Israël


Second hand real estate purchases

There are several ways to buy real estate in Israel. You can choose a new apartment already built, or one still in construction, or a second hand. To be clear, the second-hand home is a property that has already been inhabited. This does not mean that the apartment is not worth it, it is just not new. For some people, buildings that already have a certain age have several advantages. They know in advance whether the housing is worth it, its condition and its environment. Moreover, they know if there will be renovation work to be done before entry.

In Israel you must pay an acquisition tax for any real estate purchase. This tax is a percentage on the price of the property. The height of this tax depends on several factors: first housing, second home, new immigrant etc. Thus, for a first home there is a reduction, the same for new immigrants. This allows them to enjoy a discount for the purchase of a first property. Then they will still have a reduction as a new immigrant. But only in case they buy a first apartment, then another one for ole hadash (new immigrant).

The importance of the steps for the purchase of a property

To buy an apartment or any other real estate property in Israel you must go through some obligatory steps. These steps are not required by law, but they make it easier for buyers to succeed in their transactions. The same can be said for the sellers of course.

All contracts are established under contractual freedom, which allows each clause to be negotiated separately. This is the reason why it is so important for buyers to get legal advice. The best is to choose a lawyer whose specialty is real estate. It will be his job to protect the buyer, enforce the law, monitor payments, fees and other expenses. In short, he will guarantee that all the rights of the buyers are fulfilled.

The 12 steps

That’s a lot of work, right?

Absolutely not. The steps do not have to be done by the buyer. He will take care of the budget, the choice of the property and the contact with a lawyer. For audits at the cadaster, at the town hall and elsewhere, the lawyer who will take care of it. The evaluation of the renovation work will be done with the person who will take care of them.

For the negotiations and signing of the contract, the buyer and the seller with their lawyers will meet. Once the contract has been established, the lawyer will take care of the necessary registrations. He will take care of the cadaster, the town hall and elsewhere if necessary. The terms of the payment for the property will be established before signing the contract.  Usually a first payment is made at the signing of the contract.

Then the buyer will have to pay for the different charges. The fees for the lawyer, the real estate agency, the price of the evaluation for the works. Without forgetting all the additional charges which always accompany this kind of purchase. The last thing the buyer will do is to put the renovation work into action.