Что важно знать при продаже квартиры в Израиле

What is important to know when selling an apartment in Israel

When dealing with real estate transactions, the help of professional lawyers is usually required. If you want to make a real estate transaction but don’t know all the intricacies, read our article.

  1. You need to know everything about the condition of your apartment. It is your direct responsibility to conduct all necessary checks and be aware of all nuances concerning the technical condition of your property. The condition of the property is a fact that you declare by signing the sales contract, and you are also obliged to inform the buyer in detail about it during negotiations.
  2. The buyer checks. The buyer or their representative has the right to either inspect the housing themselves or invite a specialist for an expert assessment of the property’s technical and legal status. And the seller must provide the buyer with this opportunity.
  3. Obligation to provide information. The buyer is entitled to receive from the seller data regarding the address of the property, the number of the apartment or plot.
  4. Encumbrances. The seller is obliged to find out in advance if there are any encumbrances on the apartment, which include: a mortgage loan; pledge; arrest.
  5. In order for the seller to be able to transfer the ownership to the buyer, the property must be free from any encumbrances, debts, or third-party rights, which may be represented by banks or other organizations.
  6. Sources of financing. If the buyer of the property uses not only personal funds but also funds from credit institutions (mortgage) for the purchase, the seller would be wise to require the buyer to present an agreement with the bank on the provision of a loan. The mortgage approval contained in this agreement will be a guarantee that the bank is ready to finance this transaction.
  7. Personal reserve when buying. Even if a credit organization has preliminarily agreed to provide the buyer with a mortgage loan, the seller is advised to ensure that the potential buyer has a personal financial reserve. This may be necessary if the real estate expert assessing the property deems that the market value of the apartment is lower than the price stated by the seller, and the credit organization cancels the loan.
  8. Use the services of a professional lawyer specializing in real estate transactions. This is a very important point. Accompanying the sale with an experienced real estate attorney will greatly facilitate the process, secure the sale procedure, and save you from unpleasant surprises in the future. In Israel, as in the rest of the world, the purchase of real estate is conditioned by a large number of legal formalities, the need to draft and sign numerous documents, including those that neither the seller nor the buyer have heard of before. Such specific documentation includes a package of trust documents, the registration of a cautionary note, as well as the drafting of an irrevocable power of attorney necessary for the cancellation of this very cautionary note, the drafting of a power of attorney for the transfer of property rights in the name of the seller, etc.
  9. One lawyer for both parties. Legally, this is perfectly acceptable, and often the interests of the buyer and seller are represented by the same real estate attorney. This situation has its advantages, as in this case, the resolution of most issues depends on one person and does not require lengthy negotiations between the parties. However, sometimes such a situation can lead to a conflict of interests. In any case, the final decision remains with the parties to the transaction.
  10. The absence of the seller in Israel. This problem is solved with the help of a document called “irrevocable power of attorney,” which the real estate seller issues at the Israeli embassy in the country of their location.
  11. Conclusion of the transaction. The completion of the real estate purchase and sale transaction is conditioned by the receipt, drafting, or provision to various authorities of certain documents:
  • The seller is responsible for paying the “mas shevach” tax — the so-called capital gains tax, as well as providing a certificate of payment of this tax;
  • The seller’s responsibility includes obtaining documents in the municipality that confirm the payment or exemption from payment of duties and subsequent registration of this in TABO;
  • The seller is obliged to provide the buyer with a power of attorney, as well as documentation on the sale or long-term lease.
  • After receiving all these documents, the buyer makes the last of the payments to the seller’s account.
  • Until the seller provides the buyer with all the required documents, a certain amount, which is part of the last payment for the acquired property, is held by the lawyer as a deposit. From this amount, he is entitled to pay the necessary taxes. Remember that all these details are agreed upon in advance in the contract.

If you need professional consultation or transaction support, send a request from our website, and a lawyer from Alex Zernopolsky’s office will contact you shortly.

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Олег Барбаков

Oleg Barbakov

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Miri and Sergey

We are a couple who came to lawyer Alex Zernopolsky after numerous rejections from the Ministry of Interior, during the process of obtaining citizenship for my husband. We had faced a very unpleasant experience and were literally shaken by repeated encounters with officials who were insensitive to people’s feelings, and their comments were inappropriate, to put it mildly. After turning to the Ministry of Interior, Alex and lawyer Anna from his office, who were always ready to listen to us and always there for us, my husband finally received citizenship a week ago. This happened thanks to the professional and humane approach of Alex Zernopolsky’s law firm. We are very happy that fate brought us together and we can recommend this office to everyone who wants to feel at home, and the lawyers will take care of your interests. This is the best that exists in today’s market in Israel. Alex delivers on what he promises, one hundred percent.

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Victor Vakhshtayn

A lawyer in Israel is not a luxury, but a guide through the bureaucratic hell that is the state apparatus. However, it’s hard to call it an apparatus because none of the circles of hell exchange information with any other, ordinary demons have far more authority than their superiors, and sinners can appeal to the law – earthly or heavenly – as much as they like, but in every district office of hell, there is an ‘internal instruction’ that contradicts each law. (And then another one that contradicts the previous one.) In the end, laws come and go with each government, but the demons stay at their cauldrons for generations. Perhaps this system was invented by the founding fathers themselves to prevent the usurpation of power in the future. Try to build totalitarianism in a country where every street-level bureaucrat is, at heart, an anarcho-syndicalist. Therefore, going to court in Israel is not a challenge to the state, but a normal way to start a dialogue with it. It’s all like at the market: if you don’t bargain, you don’t respect. If you don’t sue, it means you don’t acknowledge. So an Israeli lawyer is always a bit more than just a lawyer. He combines the skills of Virgil, a stalker, a dramatic actor, a social worker, an ethnographer, and a psychotherapist. At least, a good lawyer does. I was incredibly lucky with my lawyer. With Alex Zernopolsky, we not only won the case. I found thirty new research topics – so fascinating was the structure of the Israeli bureaucracy ‘from the inside’. Now we will write in co-authorship.

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I personally use the services of this law firm, and when someone from our team needs some help, we turn to Zernopolsky. So I am happy to recommend him.
The office of Alex deals with any issues in the field of immigration law in Israel: repatriation, legalization of family members, proof of paternity and kinship through DNA, and any complex cases.

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I express my immense gratitude to the team at Alex Zernopolsky Law Office and personally to Alexander for helping me with my issues in Israel. Everything was done within the agreed time frame and at a high professional level. In every matter, I felt careful guidance, foresight, and human participation. I am very satisfied with the cooperation. I recommend!

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We turned to the office of lawyer Zernopolsky with a rather complex case. And, to be honest, we were quite skeptical about lawyers based on unsuccessful experiences of cooperation with lawyers in the past. But Alex dispelled all our doubts from the first meeting and showed how real professionals work. Throughout our cooperation, we did not worry about anything, Alex was always in touch and clearly answered all our questions. I highly recommend the law office of Alex Zernopolsky. Without exaggeration, he is the most professional lawyer you can trust! I express my great gratitude to the law office of Zernopolsky, and in particular to you, Alex.

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