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The Buying Process Step by Step
1. Choose your Agent and build a working relationship. We are Real Estate professionals, full time, licensed, and with extensive knowledge of the market. We will work hard to find your dream home in Tel Aviv
2. Talk with your Agent to evaluate your needs, wants and budget, based on a straight forward conversation
3. Find the “perfect” apartment for you
We will show you properties based on the criteria we discussed. The more detailed you will be with us, the easier it will be to find the apartment matching your criteria. contact us
4. Understanding the seller motivation to sell
Once we found the apartment you are interested in buying, we will do the research to put together the most attractive offer for the seller
5. Presenting the offer
We will present the offer to the seller himself if possible or to his agent.
6. The seller’s response
Our knowledge and skills in negotiating will lead to a final agreement.
7. It is a must to use a lawyer for Real Estate transactions
The lawyer will run all the mandatory checking of title and any other legal matters
-to the Tabu (title institution in Israel)
-to the City (to verify the permit and if all the building amenities are legal)
For the contract: the buying agreement with a private seller or with a builder MUST be prepared by a lawyer. As soon as the agreement is signed by both parties, the lawyer will register the sale at the “tabu” with a document called “eharat azara”, making sure the seller cannot sell that property again to another buyer. contact us
When Dealing with a builder – developer: typically 6 items to the contract
a) The participants to the contract
b) Description, legal and commercial characteristics of the property
c) Schedule of payments
d) Date of completion of the project
e) The financial guarantees
f) Commitment of the parties involved in the contract
8. The taxes
The taxes must be declared and paid within 30 days of the signature of the contract
The buyer and the seller must each pay taxes relevant to the transaction. The buying tax called “mas rekhisha” is paid by the buyer. contact us
a) for an Israeli resident .
Property Value – Purchasing Tax
The amount depends on the status of the buyer. For example: Oleh hadash; investor owner of additional real estate properties; and/or more.contact us
Besides the tax, there are additional costs such as Real Estate Fees 2% (before VAT) of the value of the apartment, and the lawyer’s fees between 1% and 2%.
Of course for any taxes or legal matters, you should consult with an expert