What to Know When Buying or Selling Commercial Real Estate in Israel

Before buying or selling commercial property in Israel, it is critical to understand the process and the legal factors that can impact the transaction. International buyers or those abroad who want to sell property in Israel that they have inherited need to take particular care to comply with requirements unique to the Israeli real estate market.

Maximizing Your Benefits in a Commercial Real Estate Transaction

The process of buying or selling commercial real estate in Israel involves several steps. To protect your interests and achieve your best objectives from the process, it is wise to start by hiring a professional with experience in the commercial market, as well as a good understanding of local laws and regulations. Your real estate professional can help with the next steps as you conduct your due diligence. Before making an offer, it’s important to carefully review the property’s legal and financial status, including the terms of any leases and any outstanding debts or liabilities.

Once you have a good understanding of the property, you can start negotiating the terms of the sale with the seller or the seller’s agent. Then you begin the multi-step process of closing the deal, including signing contracts and transferring ownership of the property. This usually involves the payment of various fees and taxes as well as registering the sale with proper authorities.

It’s important to be familiar with the local real estate market, as well as any laws and regulations that may apply to commercial property transactions in Israel. An attorney who specializes in real estate law can assist you in navigating this process.

Legal and Probate Factors Involved in Buying or Selling Commercial Real Estate in Israel

When buying or selling commercial real estate in Israel, it’s important to consider the various legal and probate issues that may arise. Some of these include:

  • Title and ownership: One of the most critical steps in any real estate transaction is to verify that the seller is the rightful owner of the property and that there are no outstanding claims or liens on the title.
  • Zoning and building regulations: Before buying a property, it’s important to make sure that it complies with all local zoning and building regulations, as well as any applicable environmental laws.
  • Contracts and agreements: When buying or selling a property, it’s important to have a detailed and legally binding contract in place that outlines the terms of the transaction and any warranties or guarantees.
  • Probate issues: If the property is owned by a deceased person, it may be subject to probate, which is the process of transferring ownership to the rightful heirs. This can be a complex and time-consuming process, and it’s important to have the assistance of a lawyer who is familiar with probate law in Israel.
  • Taxes: Both buyers and sellers need to be aware of any taxes that may be owed on the sale of commercial real estate in Israel, including transfer taxes, capital gains taxes, and value-added taxes.

Overall, it’s important to seek the assistance of a qualified Israeli real estate attorney when buying or selling commercial real estate in Israel to ensure that the transaction is completed smoothly and in accordance with all applicable laws and regulations.

Work with an Experienced Commercial Israeli Real Estate Lawyer

At Aharoni Law Firm, we focus our practice on providing assistance to international buyers and sellers seeking to acquire or divest interests in Israel. We understand the complications that can arise so we can plan ahead to prevent problems.

We can manage all aspects of the transaction so that you can successfully conclude business remotely. Call us at 888-923-0022 (United States) or 972-3-9055478 (Israel), or contact us online to schedule a consultation.