Buying Real Estate In Israel

Here is a very short video to reinforce why it is very important to have a lawyer to handle your real estate purchase. And, I would add another very important point: Do not be persuaded to use the same lawyer as the seller. Many times, especially when the real estate agent is representing both you and the seller, he or she will suggest to utilize the services of one lawyer, in order to make the process go more quickly. It is true, it can make the process move forward more quickly, but just as the real estate agent has challenges in representing both sides (since both sides want the best deal), so the lawyer has challenges, and later on, should there be any problem with the property, you will find yourself in a bind as to what recourses are available to you.

Your lawyer will require a power of attorney from you in order to complete all the transactions related to the sale. If you are not in Israel at the time of signing the purchase contract, then you will need to provide this from abroad, with an Apostille affixed to the document. This can take time, depending upon how far away you are from an Israeli consulate and the waiting time for securing an appointment. Many overseas buyers also provide a power of attorney to a real estate agent, for the purpose of managing the property. This is a legally binding document that cannot be revoked simply by a letter or phone call. In the wrong hands, it can bring you disaster.

Enjoy the video!

 

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