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Why Choose Israel Properties?

Meet with a mortgage broker for a realistic budget assessment of how much you can afford to spend on a property.

Secure pre-approval of your mortgage. There are no mortgage contingencies in Israel, so it is essential to have your financing in order before making an offer!

Select a property that meets your needs, wants and budget.

Select a lawyer to provide you with legal advice, help you navigate the complex Israeli legal system, and ensure that all necessary documents are in order. Additionally, it is advisable to grant power of attorney to either the lawyer or a trusted relative or attorney in Israel, who can act on your behalf throughout the transaction. This process can take time and may need notaries or apostilles overseas so this must be considered.

If you are transferring foreign currency into NIS to purchase the property, it is advisable to consult with a currency expert to minimize your currency risk. Banks in Israel are pedantic and need certain documentation to clarify source of funds and tax declarations. This is a delicate, time sensitive and complex process that must be started before you make an offer. Unless all supporting documents are provided (such as accountants letter confirming tax has been paid; source of funds; tax clearances) etc, money will not be allowed into Israel.

Negotiate with the seller and make an offer. (It is important to understand the commission structures and vat implications, legal and statutory fees that are unique to Israel from the buyers and sellers’ perspective) In case of a second hand property, it should be inspected prior to your offer to determine price offered.

Offer accepted. Registration letter accepted/signed

Begin the due diligence process, ensuring the funds for the deposits and initial costs are available to avoid any potential penalties. Can take 2-4 weeks.

Once due diligence is completed, sign the purchase agreement. Vouchers will be issued for payments to the developers which need to be taken to your bank for processing.

If you are purchasing a second-hand apartment, you may want to renovate or make choices of finishes. Israel Properties can recommend the most trusted and competent architects, interior designers, aircon installers, craftsmen, and workmen. They can help you with the design and planning process, and ensure that your renovation project is a success.

When buying a project, you will need to make selections of finishes or upgrades and inform developers of your choices according to their deadlines. There will be ongoing communication and sign offs needed as the project progresses.

When buying a project, you will need an engineer/inspector to do a final check upon handover of keys, and make recommendations before deadline elapses.

After receiving the keys (certificate of occupancy) electricity, water, and gas need to be connected. The utility meters must be put into the name of the homeowners. A property tax file with the City must be opened. Air conditioning units need to be installed.

If your property is an investment, you will need to find tenants and ongoing property management.