Buying in Israel: The Who’s Who of Your Transaction

When you buy an apartment in Israel, you’ll likely deal with anywhere from 8-9 different professionals at different stages of the game. Here’s an introduction to your team and what you’ll need to know about each person.

1. The seller- Ideally, you’ll want to buy from someone with a stellar reputation. If the seller is an unknown entity to you, (or even if he isn’t) do your research on the apartment to make sure there are no hidden problems before you close the deal.
2.  If you’re buying from a developer, get information from others who have dealt with him in the past. Remember, the only “wrong” questions are the ones you never ask.
3. The lawyer – Before signing a contract, you’ll want your lawyer to go through it with a fine-toothed comb. There are important clauses that should be added to protect your interests, and it’s your lawyer’s job to know what those are and make sure they’re in place for you.
4. The architect draws the plans for your apartment. If you have any input about how things are constructed, the architect is your address.
5. The contractor is the one actually building your apartment. You’ll be communicating directly about how you’d like the apartment laid out.
6. The interior designer is responsible for many of the elements that will define the aesthetics of your apartment. You’ll talk to your designer about your choice of tiles, appliances, light fixtures, paintwork, and other trappings.
7. The structural engineer comes in to inspect the apartment and verify that the structure is safe and done according to plan.
8. The bank: To make the payments on your apartment, you’ll need to set up an account in an Israeli bank, or with a reliable money transfer company.
9. Mortgage Broker: Unless you’re paying for the apartment with cash you’ve been keeping under your mattress, you’ll need a broker to help you get a mortgage.

For some buyers, dealing with this many people can be quite overwhelming. You’ll need strong communication skills a great handle on the language, and a bit of a thick skin. That’s one of the reasons so many people choose to work with The Getter Group. We coordinate all the members of your team, leveraging our insider position to make sure you get exactly what you need.

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 Mr. Shia Getter is an authority in the world of Israeli real estate & buyer protection. He founded The Getter Group to help you avoid pitfalls and to protect your interests. Get protected with help from The Getter Group. Call today 718-473-3950 or mail@thegettergroup.com

This article is intended to provide general information about the sub­ject matter covered. It is not meant to provide legal opinions, offer advice, or serve as a substitute for advice by li­censed, legal professionals.

The author does not guarantee that the information contained herein is complete or accurate and does not as­sume any liability for any loss or dam­age caused by errors, inaccuracies or omissions contained in this article.