Buying a home is one of the most expensive and significant decisions you make in your life. If you are planning to settle in Israel, you will have to purchase a property in a convenient location. However, this can be a daunting task for non-Israelis, as they may not be aware of the area and community that can suit them. Hence, through this article, we provide some guidelines for helping non-Israelis to buy Israel real estate properties.
Locating The Right Property
You can try different ways for finding a property that can be suitable for you. There will be different websites that list Israel real estate properties in different areas.
You can also contact a real estate broker who can help to find a property that can fit your requirements. When seeking the help of a real estate agent, you have to be aware that they will charge a fee of 1-2% (plus VAT) of the purchase price. However, this extra amount you spend can be worth it if you associate with an experienced and professional real estate agent who has a great knowledge of the property market.
What To Buy
It is important for you to be aware of what you need to buy. Whether you want a house or an apartment, or if you want to get a finished apartment or an apartment under construction, etc. This can help you to make the selection process easy.
Thoroughly checking the property before you buy is important for finding the defects and other problems associated with it. You can hire an engineer or other qualified professionals in this field for performing an inspection of the property.
Engaging With A Good Lawyer
Seeking the assistance of an experienced and qualified lawyer is important to deal with the legal procedures of buying a property. A lawyer can be of assistance to you throughout the process of purchasing. It ranges from the negotiation to the conclusion of the transaction.
This is another important factor you have to consider when buying a property in Israel. The local banks may not provide mortgage funding for non-residents. However, the lenders might grant a loan that will not exceed 50% of the purchase price for a non-resident. Hence, it is important to consider the funding source before you buy a property.
As a non-Israeli, there are several things you have to consider when buying a property in Israel. If you are confused about choosing a location that is suitable for you, then it is better to consult an experienced real estate agent for finding a property that can fit your requirements. You also have to consider the legal procedures and funding before planning to buy a property in Israel.