When buying an apartment in Israel, it is important to choose the right team in order to make the purchase process as efficient as possible, keep costs reasonable, and ensure that quality is maintained.
To begin with, it is important to find a reliable agent. While the agent is essentially pushing a sale for the seller, an honest and trustworthy agent will provide buyers with the pros and cons, and more accurate information.
In areas where it is possible to buy into a development, there may be a few projects that are being built, and the buyer should choose to buy into the project that has the most reliable developer. It is important to research whether the developer has a good reputation and will be building with quality materials and offers good finishes. While the developer will choose the contractor, it should be noted that a more easy-going contractor will help smooth over the building process. The buyer will also need to choose a designer that will do a good job at the cheapest price, and have an architect that will design the best layout.
When buyers read their contracts from the developer, they will see that they are paying for a lawyer. It is very important to note that this lawyer is the developer’s lawyer, and will not be working on behalf of the buyer. The buyer needs to hire their own experienced lawyer who will do a thorough job of checking the contracts.
As far as financing is concerned, buyers need a mortgage broker who will find a mortgage bank with the best rate. Buyers will also be dealing with their own banks in order to pay the agent.
Choosing the buying team can be overwhelming to say the least. At the Getter Group, we have the experience to negotiate better terms, and act as a liaison for the buyer. The buyer will only need to speak to one person instead of dealing with the entire team.
Shia Getter is the CEO of the Getter Group, a full-range real estate services firm in Jerusalem catering to the Anglo investor. He is a noted expert, columnist, and author of The Guide to Investing in Jerusalem Real Estate. He and his professional team manage many upscale Jerusalem properties and have helped countless people buy, sell, and renovate property in Israel.
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