Law Office of Avner Slater - Israel Real Estate Attorney

Law Office of Avner Slater - Israel Real Estate Attorney For real estate acquisition and sales, wills and estates, as well as notarial services - get the effective representation you need.

Jerusalem and Ramat Beit Shemesh, Israel.

"When do I need to pay for the apartment?"In many countries, the payment schedule is a pretty simple process. 10% percen...
26/05/2019

"When do I need to pay for the apartment?"
In many countries, the payment schedule is a pretty simple process. 10% percent at the signing and 90% at closing. Not so in Israel. Although the law does not prohibit such a payment schedule, it's not usually done.
In Israel, you are free to set out any payment schedule you want, but there are some issues you need to take into account:
The process of getting a mortgage can take a while so you need to give yourself at least a month to arrange the mortgage. If the seller also has a mortgage, he has the option to transfer his mortgage to another property instead of paying it off. That can take at least a few weeks. In a situation where the seller needs to get money from you in order to pay for the house he is buying, two or more transactions might require a parallel payment schedule.
You may also need to take into account funds which may only be liquidated by a certain date. Money should be held back until all the tax issues connected with the deal are settled and this also takes time.
Since payment schedules can be complex, you should never agree to any arrangements without consulting first consulting with your legal counsel. If you don’t get it right, you could find yourself unable to pay on time through no fault of your own.

When looking into real estate in Israel, you will often see/hear these terms in Hebrew:Mas Rechisha – Purchase taxMas Sh...
21/05/2019

When looking into real estate in Israel, you will often see/hear these terms in Hebrew:
Mas Rechisha – Purchase tax
Mas Shevach – Capital gains tax on real estate
Maam – VAT (value added tax)
Tabu – Land registry office
Metavech – Real-estate agent
Hetel Hasbacha – Property betterment tax
Arnona – Municipal Taxes
Biladiut – Exclusivity
Va’ad Bait – the building committee
Private land – Property belonging to the Israel Lands Administration, which is leased to the buyers and generations following for up to 98 years.
Church land – property belonging to the church that is leased to buyers and generations following for different time periods in accordance with a lease.

Real estate transactions. Contracts. Wills. Notarial services.
21/05/2019

Real estate transactions. Contracts. Wills. Notarial services.

The "ishur ekroni" is a bank document showing pre-approval for a mortgage. To obtain this document, you have to present ...
08/05/2019

The "ishur ekroni" is a bank document showing pre-approval for a mortgage. To obtain this document, you have to present the bank with details about the loan you are requesting, such as amount and length, and proof of income, amongst other general information. It's a good idea to then take this pre-approval to other banks in order to negotiate the best terms possible (this is standard practice in Israel). PM for more info on this matter.

People procrastinate about making a will, and for good reason... Still, it's something that's pretty important to get do...
07/05/2019

People procrastinate about making a will, and for good reason... Still, it's something that's pretty important to get done. Why? Because without a will, your heirs may not receive their inheritance in the order or amount that you would have like them to. Israel’s succession law calls for a specific order in which heirs may receive an inheritance when a will has not been left, and this can lead to some sticky situations. Additionally, if you wish to give part of your estate to people or places which are not in the "order of heirs or blood relatives", you will need to detail such wishes in a will. At the of the day, we all work hard to take care of our loved ones while we are alive - a will allows us the ability, as much as possible, to take care of them when we are no longer here. Please reach out to our office with any questions you may have.

Whether you are buying or selling a property in Israel, it is important to first estimate the market value of the proper...
05/05/2019

Whether you are buying or selling a property in Israel, it is important to first estimate the market value of the property. An official assessment of the property can only be done through a professional appraisal conducted by a "shamai" - an appraiser. But you can come up with a fairly accurate estimation on your own by 1. Asking at least two local real estate agents what properties have gone for in the past 12 months. 2. Going on www.madlan.co.il and https://www.yad2.co.il/realestate/forsale and clicking on the "past transactions" feature. This will present you with all past transactions including prices.

People often ask me if Israel is a good place to invest in real estate. As a real estate attorney in Israel, I am not al...
07/02/2019

People often ask me if Israel is a good place to invest in real estate. As a real estate attorney in Israel, I am not allowed to give out real estate investment advice but I can tell you these incredible facts: Israel is a miraculous country with a good standard of living and a population of very diverse AND successful cultures. Sure, there are market slow downs here and there, but they never last and the bubble has never burst. This is mainly because 1. there is a constant state of increasing demand and limited supply in Israel. 2. Israel's economy is a very solid and stable one. 3. Historically, Israel's housing prices have been mainly on the rise for over 40 years. One last fact - there is only one Jewish state for the Jewish people to return to. That says a lot about future demand. Any questions? PM me.

"What is the first step in buying a home?" I get clients more often than you'd think, who have found their apartment of ...
06/02/2019

"What is the first step in buying a home?" I get clients more often than you'd think, who have found their apartment of choice, but have not taken the necessary first steps for buying a home - figuring out ALL of the costs and finding out what kind of a mortgage they can get from the bank. Other than the actual price of the home, other costs include purchase tax, legal fees, agent's commission, property inspection, foreign currency transfer fees, mortgage broker fees, moving and set up fees. A little bit of initial legwork, saves disappointment and stress later on. PM me if you have any questions.

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Jerusalem

Opening Hours

Monday 09:00 - 18:00
Tuesday 09:00 - 18:00
Wednesday 09:00 - 18:00
Thursday 09:00 - 18:00
Friday 09:00 - 18:00
Sunday 09:00 - 18:00

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