In This Edition
- Welcome
- Featured Article – Expenses When Purchasing a New
Apartment From a Construction Company in Israel
- Tip of the Month – Make Sure the Deal is Really Finished
- Legal Vocabulary – 'Shtar' (Deed)
- 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.
We join Am Yisrael in celebrating
the 60th Anniversary of the Establishment of the
State of Israel.
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List of Expenses When Purchasing a New
Apartment From a Construction Company in Israel
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When purchasing a new apartment under construction, there are additional expenses, beyond the purchase price:
- Legal fees - Legal fees of the purchaser's lawyer - Depending on the extent of work done, this can be from 0.5% - 2% of the price of the apartment, plus V.A.T (Value Added Tax - this is 16.5% of the fee in question). The legal fees of the company are paid by the purchaser. This can be between 1%-2% of the price plus V.A.T. However, sometimes the price quoted already includes the company's legal fees.
- Real Estate Agents Fees - These fees are usually paid by the construction company, however if you hired an agent to show you around various projects, the agent will charge you a fee for this.
- Purchase tax - This is calculated on a sliding scale based on the price of the apartment. This scale...
Read the complete article on our website.
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Tip of the Month
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At the close of your deal you should make sure that your attorney actually finishes the registration of title in your name. If it is not completed you will not be able to mortgage or sell the apartment in the future. At the close of the deal contact your attorney about this and ask him or her to provide you with the final deeds of registration.
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Legal Vocabulary
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'Shtar' (Deed) –
This is the deed by which the property is registered in your name in the land registry.
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Subscription Information
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For Further Information
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Additional information can be found at:
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