Buying or selling real estate in Israel can be a stressful. Here are some ways that our real estate agents can make your process become more efficient & convenient:
Planning a visit to Jerusalem?
Looking for a property to buy in Israel during your visit? Check in with us before your arrival and we can e-mail you a preview before you leave home and can arrange visits to properties for you while you’re in Israel. Just send us an e-mail to:
Consultation with your Real Estate Agent
Our consultants will guide you in deciding on location, type of property, understanding what is included in the purchase price, the length of the process, etc. A good consultant will save you more money than he costs, as he has a wealth of experience which will help you make the right decisions.
In Israel, both the Buyer and the Seller pay commissions ( broker fee ) to their respective consultants. Real Estate consultants in Israel charge 2 % of the price of the property. Before one of our consultants will show you a property, he will ask you to sign a “Request for Real Estate Brokerage Services”. This form is required by Israeli Real Estate Law and becomes the Agreement which legally entitles the consultant to a commission.
Applying the real estate lawyer
You should hire your own lawyer who is knowledgeable about the city in which you are buying your home. It is not recommended to use a friend or family member. Never sign a contract with a builder without a lawyer.
Once an agreement is reached, the matter is turned over to Lawyers. The Lawyers do all the necessary research to determine the legal status of the property, insure that improvements that were made, were done with the proper permits, etc.
Property checking by an engineer
You should have the property checked by an engineer or surveyor before you sign the contract. He should give you a written statement. You may need to use this statement, so make sure to hire a licensed and reputable engineer. The cost is, depending on the size of the property, $600-$1,000 plus VAT.
Buyers who are not Israeli residents need to pay a purchase tax to the Israeli government when they purchase a property in Israel.
• In Commercial property the tax is : 6%.
• In Residential property the tax is 5-10% dependent on the property price.
Type of lands in Israel
The overwhelming majority of land is Israel is owned by the State and only a small minority is under private ownership. Approximately 7% of the allocated land in Israel is privately owned. The rest- 93% is owned by the State and is known as “Israeli Land”.