In This Edition
- Welcome
- Featured Article – Seven Things Your Real Estate
Lawyer Should Do For You
- Tip of the Month – Why the dollar price of your apartment
is not the final price you pay.
- Legal Vocabulary – "Arevut Chok Mecher"
- Subscription Information
- For Further Information
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Welcome to Israel Real Estate Law Insights
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Welcome to the latest issue of the Israel Real Estate Law Insights, published by
Nicole Levin Law Offices, experts in all aspects of real estate law in Israel.
You are receiving this newsletter because you signed up for it on our website or
because you filled out a form at a housing fair. Our newsletter focuses on the
legal aspects of buying, selling and renting property in Israel.
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Seven Things Your Real Estate
Lawyer Should Do For You
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Buying or selling real estate in Israel can be a stressful experience in the best of situations. Here are some ways your real estate lawyer can take away the legal headaches.
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Discover What You Need
Your lawyer should help you ask the right questions and get the answers you need. For instance, if you're buying a second-hand apartment your lawyer will need to know when you want to take possession, what kind of payment terms would be best for you, how you are financing the purchase, what items you are asking the sellers to leave in the apartment, whether you have agreed on the price, if you are planning to make structural changes to the apartment and more.
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Explain the Process
One of the greatest stress reducers is the ability to anticipate the future. Whether you are buying or selling a property, your real estate lawyer should explain the entire legal process to you in language that is easy to understand. The explanation should include details about the mortgage process such as how to freeze, transfer or lift your mortgage. You should also receive a list of expenses to include in your budget such as legal fees, purchase tax, and fees for the mortgage, registration, assessor, engineer and real estate agent where applicable.
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Check Your Personal Legal Status
Your real estate attorney should ask you for confirmation of your legal status in Israel. Whether you are a foreign resident, new immigrant or Israeli citizen...
Read the complete article in our articles section.
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Tip of the Month
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When purchasing an apartment (whether it be a new one or second hand) never assume that the price is the dollar amount stated to you by the seller. Always check to see if the price is linked to the consumer price index, the building index or the dollar, and if it is linked to the dollar does the seller want to make special provisions pertaining to the rate of exchange. These things usually mean that the amount you actually pay will be higher than the dollar price quoted. You should get someone to explain these calculations to you so that you can see how it affects your finances.
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Legal Vocabulary
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"Arevut Chok Mecher" –
"Chok Hamecher" is a law governing the purchase, from a construction company, of apartments still under construction. The word "Arevut" means guarantee. The law mandates that the construction company selling you the apartment has to provide you with either a bank guarantee or an insurance policy that protects the money you pay the company for the apartment. These guarantees or policies stay in effect until you take possession of the apartment and your rights are registered.
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Subscription Information
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For Further Information
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Additional information can be found at:
http://www.levinlawoffices.co.il/free.shtml
Further interesting articles can be found at:
(NOTE: New articles available!)
http://www.levinlawoffices.co.il/articles.shtml
If you have any further queries please feel free to make use of the Contacts page on our website:
http://www.levinlawoffices.co.il/contact.shtml
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