What You Need to Know Before Buying or Selling Residential Property in Israel

The price of real estate is sky-high and shows no signs of abating. A hundred years ago, Tel Aviv was a sand dune. Today, beachfront condominiums in Tel Aviv sell for $8 million.

Buying or selling residential property in Israel can be highly complex but we will make it simple. To avoid common pitfalls, you need the counsel of an attorney who understands Israeli real estate law. In addition, if there are probate or inheritance issues involved in the transaction, your attorney must understand Israeli probate law as well

Steps Required for a Successful Real Estate Transaction in Israel

To transfer legal ownership of residential real estate in Israel, buyers, sellers, and their legal counsel must ensure that all of the following steps are properly completed:

Due diligence: Buyers must perform due diligence research on the property to ensure that there are no liens or encumbrances on the property that would prevent or delay transfer.
Contract preparation: The sale agreement must be properly drafted and executed, including details such as the purchase price, payment terms, and any contingencies.
Title search: The buyer must conduct a title search to determine the ownership and chain of title of the property.
Property taxes: The buyer and seller must ensure that all property taxes have been paid up to date.
Zoning regulations: The buyer must ensure that the property complies with local zoning regulations and building codes.
Property insurance: The buyer must obtain property insurance to protect against any potential losses.

Closing Procedure

Both the buyer and seller must be aware of the closing costs, including transfer taxes and legal fees, which can be substantial. A real estate attorney can explain what is involved and the options for handling various costs.

Finally and often most critically, the closing process must be properly executed. This includes the transfer of funds and the requisites to accomplish legal transfer of ownership.

Aharoni Law Manages the Purchase of Sale of Residential Property in Israel

While a real estate sale is a complicated transaction, assistance from the right professionals can make the process easy on your end. The Aharoni Law Firm represents buyers and sellers in all types of transactions, including properties encumbered by difficulties. Allow our team to manage the transaction on your behalf so that you can enjoy the benefits without the concerns.

What Our Clients are Saying

" I found Mr. Rahav Aharoni from my Hebrew translator and I was very happy with him. I hired him twice, the first time was to negotiate and complete a probate with my family and to register the land in Israel, which he did a great job on. And the second time, my family in Israel could not find/get my grandfather’s death certificate and I’ve hired him to do so. Mr. Aharoni did. It did take some time for him to find it, and he had promised to do so, and he did. Mr. Aharoni. is very kind, loyal and easy to work it and solved two of my issues. I will recommend Mr. Aharoni. I’ll be happy to respond to any inquiries. "

- Isaac Melamed

" Rahav Aharoni has been providing us with outstanding Legal services for anything that involves dealing with the Israeli legal system, from personal matters to business transactions. His availability is second to none and we came to rely on his insight and advice dealing with different issues over the years. He is dedicated and determined, handles bureaucratic hurdles with aplomb. He managed to continue providing his services throughout the pandemic, even submitting to the inconvenience of quarantining on both side of the Atlantic so he could go to Israel and take care of his clients’ legal affairs. He is energetic, has a great sense of humor, and is a pleasure to work with. My wife and I highly recommend him. "

- Gad Zeilingold

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What You Need to Know Before Buying or Selling Residential Property in Israel