Purchase, Sale and Lease of Apartments in Israel
Real Estate transactions: purchase, sale and lease of apartments in Israel
The Israeli law firm Elbert, Nazaretsky, Rakov & Partners specializes in representing clients in the purchase, sale and lease of apartments in Israel.
We provide our foreign clients with services for the purchase and sale of apartments by power of attorney – without the need for the personal presence of the seller or the buyer.
We will provide you with all the necessary information, answer all your questions – and you will only have to confirm your intention to conduct the transaction and provide us with a power of attorney. We cooperate with real estate agencies in different cities of Israel, which allows us to find the most profitable deals for our clients, in full accordance with their requirements and wishes.
Purchasing an apartment in Israel
While investing hundreds of thousands or millions of shekels in the purchase of an apartment, you need to ensure the maximum degree of protection for your investment. Unfortunately, many lawyers take on this work without the necessary knowledge and skills, with negligence, lack of the necessary experience and unwillingness or inability to conduct the necessary legal analysis of the transaction, which can lead to large financial losses and lawsuits that carry on for years – are the evidence to this. Our firm carries out all the necessary work to ensure that our clients do not suffer damage under any circumstances, especially in two crucially important aspects:
- We will conduct a full legal examination of the apartment and make sure that it truly belongs to the seller and that it is not arrested, mortgaged and there are no other restrictions on its sale. Our law firm has experience of many years in conducting legal analysis of such transactions and removing obstacles for their successful completion.
- The apartment sale and purchase agreement will be drawn up in such a way that the transaction will take place even if the seller begins to experience financial difficulties, disappears or tries to deceive you. In the contract, we will stipulate special legal mechanisms developed by us that allow us to provide you with maximum protection in the most unexpected and dangerous situations.
Buying a new apartment from a developer (“contractor”)
First of all, it is necessary to clarify one misunderstanding: when buying a new apartment from a developer, the buyer is forced to pay the cost of the developer’s lawyer (according to the law, this amount does not exceed 5000 shekels + VAT). At the same time, the developer’s lawyer represents only and exclusively the interests of the developer himself, and in order to verify the purchase agreement, the rights and obligations of the buyer and the developer, the buyer needs “his own” lawyer who will represent only his interests. Our firm provides such services.
The legal examination when buying an apartment from a developer is quite complex and voluminous – in addition to examining the contract, the rights and obligations of the parties, it is necessary to analyze the rights of the developer himself to the land, the compliance of the contract with the current legislation in terms of protecting the buyer’s rights, the availability of bank guarantees that the developer is obliged to give to the buyer by law for all payments or guarantee payments in one of the ways permitted by law, etc.
Our firm, has many years of experience in this area, conducts the necessary examinations for carrying out a safe purchase of an apartment from a developer. It is important to remember that the money saved on legal services can then result in losses that are dozens of times higher than the saved amount.
Sale of apartments in Israel
Whilst representing the interests of a client in a transaction for the sale of an apartment in Israel, we will achieve specific conditions of the contract, under which the buyer will be able to receive the apartment to his disposal only after he has fully paid its entire cost. If the buyer refuses to carry out the transaction, the seller will not only be able to terminate the contract and sell the apartment to another buyer, but also receive substantial monetary compensation.
The legal mechanisms developed by our firm will ensure maximum protection to the seller in any possible situation, and will not leave him hostage to an unscrupulous buyer.