Real Estates in Israel

by : Marcia Henin

Properties in Israel are good investment. The most exclusive properties in Israel are in the desirable locations of Central Israel.

Israel estates cater to people of distinct tastes and backgrounds. There are huge array of Israel real estate companies that help buyers to get the Israel estate transactions in Israel that includes estates, penthouses and villas.

As an investment, properties in Israel have tremendous potential.

Israel real estate is of two broad types. The first one is the privately owned real estate and the second one is the state owned real estate.

The main difference is that the private land registration is under the name of the purchaser in the land registry. Hence, it is important for buyers to first confirm if the property is under state land or private land.

In case of the latter, it is important to ascertain the date of renewal of lease. Note that only eight % of Israeli land is private. Most of it is in the urban regions.

Israel Estates Buying Process:

The first step to purchase Israel real estate is to select a location. In Israel, People from various ethnic backgrounds stay together. The most important guideline is to have a check the proximity to shopping and transportation.

Consult a real estate agent, who provides guidance to select locations. In Israel, The real estate agents charge about two to 3% of the price of the property as their commission. Both the buyer and the seller have to pay the commission.

The real estate agents in Israel help buyers through the paperwork involved in selling and buying real estate in Israel.

Similarly, both the buyer and the seller have their own lawyers. The lawyers determine the legal status of the property. Lawyers incorporate the price and all the financial terms in the agreement.

After the agreement, it is necessary to pay the first payment. The real state agents and the lawyers also present their fees that were due. In addition, the buyer has to pay the purchase tax. However, there is time of 50 days to make the payment.

It is wise to ensure that seller of the property is the owner of the property.