The purchase or sale of a condominium in Israel is a complex process, often involving unique legal challenges. These transactions may include additional encumbrances, issues with financing, difficulties with appraisals, and other potential problems, making it crucial to have legal representation.

As attorneys who specialize in representing international buyers and sellers, the team at Aharoni Law Firm is well-equipped to navigate these potential pitfalls. We handle transactions efficiently and advocate rigorously to protect our clients’ interests, even completing sales or purchases remotely to minimize client travel.

Steps Involved in Buying and Selling Condos in Israel

If you are buying or selling a condominium in Israel, there are several steps you need to take:

Obtain a Mortgage or Sell Your Existing Property

If you buy a condominium, you may need to obtain a mortgage from a bank or financial institution. If you sell a condominium, you need to find a buyer and negotiate the price.

Conduct a Title Search

Before purchasing a condominium, it is important to conduct a title search to ensure that the property is free from any liens or encumbrances. It is also important to be aware of the obligations that come with the property.

Sign a Purchase Agreement

Once you have found a buyer or a property to purchase, you must sign a purchase agreement. If you complete the transaction remotely, your lawyer can prepare a power of attorney to authorize execution on your behalf.

Transfer Ownership

After signing a purchase agreement, you will need to transfer ownership of the property to the new owner, which typically involves paying taxes and fees and registering the transfer of ownership with the local authorities.

It is crucial to seek the advice of an Israeli real estate attorney to ensure that the buying or selling process is handled properly and to prevent any potential legal problems that may arise.

Watch Out for Probate Issues and Other Complications

Probate issues can arise when buying or selling a condominium in Israel if the owner has passed away. In such cases, the property must be transferred to the deceased owner’s legal heirs or beneficiaries through probate.

When selling a condominium, the seller must provide proof of ownership, including a death certificate and a will or a letter of administration if the property was left to the seller through inheritance.

When buying a condominium, the buyer must ensure that the property is transferred to them without any legal challenges, including those related to probate. The buyer should have the property title checked by a real estate attorney to confirm that the property is selling the property and that there are no outstanding legal issues.

Our Firm Can Manage the Purchase or Sale of a Condominium on Your Behalf

Whether buying or selling, it is wise to seek the advice of a real estate attorney in Israel to ensure that probate issues are adequately addressed and that the transaction is handled smoothly without any legal challenges.

Aharoni Law Firm provides comprehensive services, managing factors from local registration to international tax issues to help buyers and sellers achieve their objectives efficiently. We are here to support you every step of the way. Contact us today to learn more about the ways we can assist.

Contact an Experienced Israeli Real Estate with U.S. Offices

Now that you know why you should be represented by an Israeli lawyer in the United States, contact us at Aharoni Law Firm. We have U.S. offices in New York, Los Angeles, and South Florida. We speak Hebrew, stay updated with Israel’s laws, and can answer all your questions.

Call us at 888-923-0022 (United States) or 972-3-9055478 (Israel), or contact us online to schedule a consultation with an Israeli attorney in the U.S.