Do and Don’ts of Real Estate in Israel

For decades, the real estate market has been a natural destination for safe investments. However, there is always an air of uncertainty which dominates the economy of any country. It modifies the profitability and the way that the Return on Investment (ROI) is estimated.

The real estate in Israel market’s striking resilience has helped it achieve exceptional rise in property values over the past years.

The experts of the real estate investors understand that the competitive advantages of the property sector in Israel holds a number of attractive benefits. Legal certainty, low risk of loss of value, tax advantages and macroeconomic soundness are some of the major things that work in favor of the investors.

Before one choose where to invest, there should be a lot of research and other studies involved to avopid any unknown risk. Here’s a list of the highlights you need to consider regarding real estate in Israel investments.

• The purpose of the investment
• If it will be a partnership based investment
• What is the risk level involved
• Correct financial planning

What ‘not’ to do

As a wise investor, there are some points to consider when it comes to what ‘not’ to do:

• Consider investing in property out of the comfort zone and look for more for the objective of potential return.
• Having complete reliance on personal capital leaves you with an obvious risk and also lowers the scope for further investment
• Not leaving a space for the emergency situation is one of the most perilous situation for any investment

For any sort of real estate deals, it is always wise to get in touch with the experts of the business. Just as The Aharoni Law Offices is Tel Aviv, New York and Los Angeles offer the top-notch legal and business advice when it comes to any form of Israeli estate, real estate or business law deals. Aharoni is a boutique law firm which represents the international clients who seek for advice regarding the intricacies of Israeli law. Visit https://aharonilaw.com/ to schedule a complimentary consultation. For more information, get in touch at:

• Tel Aviv: 972-50-7322688
• Los Angeles: 888-923-0022
• New York: 212-321-0996

Real Estate Investment – Residential or Commercial

Real estate in Israel has been growing exponentially. Not only Israeli residents, but even Americans and foreigners are investing on Israeli soil in a bid to make attractive returns. Some investors invest in residential properties while others invest in commercial properties. Well, there are others who buy a residential home to reside in the holy land.

Commercial vs Residential

Both commercial and residential properties promise a decent rental income. However, which is better?

Here’s a broad outline of why investing in commercial properties is more beneficial than investing in residential homes.

• Commercial properties are expensive compared to residential properties. They therefore, generate higher rental income.
• In residential properties, mostly the owner is responsible for repairs and maintenance, while tenants are mostly responsible in commercial properties.
• Capital appreciation is higher in commercial properties, thus, promising a hike in rental income too.

Real estate investment in commercial properties is more complicated than investment in residential properties. However, with the assistance of a reputed real estate lawyer in Israel, the complications can be eliminated. Thanks to their unsurpassed knowledge and experience, they can assist their clients through the buying process.

Aharoni Law

If you too are interested in investing in the Israeli real estate market, hire the services of a reputed law firm like Aharoni Law Firm. They are not only well versed with real estate law, but also with Israeli Business law, Contract Law, Succession Law, and more.  Moreover, their primary motto is to educate their clients with the minutest details of Israeli law, which most foreigners are unaware of. Lack of knowledge often puts foreigners in a soup. The lawyers here assist them through different processes smoothly, for instance buying process, inheritance process, inheritance rights, etc.

Considerations for Buying a Home in Israel

The youthful and developing nation of Israel is promising. This is why many foreigners buy real estate in Israel to grow with the booming Israeli real estate market.

However, there are others who have long aspired to be a part of this holy land. For them, their biggest dream is to hold the keys of their own house in Israel.

Considerations of buy a home in Israel

However, buying a house is not limited to appearance or design. A whole lot of considerations go into purchasing their own home.

One of the primary considerations among these is the community in which they would like to live. Community refers to the schools in the vicinity, neighbors, quality of life, property prices, transportation, and many others.

The options are many. For foreigners nursing a motto of developing life in this country; settling in the rural areas is a better option. For others, an urban area with English speaking neighbors is a better alternative. Especially, for families with young children, community with English speaking people is better. Moreover, it is important for these families to look for a place with better options for education.

Costs

As buying a house is one of the biggest financial decisions of a lifetime, it is equally important to consider the costs associated with purchasing a home. Foreigners especially, may be unaware of the various costs including the taxes and other hidden costs. To avoid the nasty surprises, it is advisable to hire an experienced law firm to understand the nitty-gritties of buying real estate in Israel.

One such law firm is Aharoni Law firm, which possesses expertise in:

• Israeli Probate and Estate law
• Israeli Real Estate law
• Business and Corporate law
• Israeli High Tech

For further details, contact them at www.aharonilaw.com

Saving the Real Estate Investment in Israel

Real estate in Israel has been enticing quite a few people to earn from the thriving real estate market there. However, odds are high that the dream to buy real estate in Israel turns sour with legal matters cropping up. Investors have often witnessed problems even after checking the property rights and others of the property they invest in.

Points to Ponder

To save your best investment from turning into your worst nightmare, consider the following points before investing in real estate in Israel.

• It is important to obtain the exclusion letter from the seller’s bank. For, in case there’s a mortgage on the property, the banker has the right to foreclose the property and the buyer will suffer with a loss.
• As the Israeli real estate market is thriving, it has also opened doors for many fraudsters. Some people impersonate the owner of the property and sell the property to the buyer through falsified documents. The buyer loses the property when the owner claims it. It is therefore, advisable to rely on the land registry records rather than the documents. Moreover, if the seller is a foreigner, it is better to check the validity of the Power of Attorney provided to carry out the transaction.
• Many properties in Israel are built at variance from the building permits. Buyers purchasing these properties fall into trouble later. So, checking whether the property is built within the permit is safer.
• It is advisable to check the apartment bylaws before purchasing. Anything deviating from the bylaws may create problems later.

Thanks to the thriving real estate market in Israel, there is scope for frauds. To save yourself from falling into pitfalls, it is advisable to hire expert services of experienced lawyers like those at Aharoni Law firm. They assist the buyer in all steps related with real estate investment.

For further details, contact them at www.aharonilaw.com

What Does A Real Estate Attorney Do?

It doesn’t matter whether you are a home buyer or a seller; you would obviously look for a real estate lawyer to deal with the procedure properly. However, in many cases, people often forget the need for a real estate attorney. A real estate lawyer is the person who helps you combat any legal matters efficiently.

If you are a home buyer or a seller don’t skip these points that let you know the role of an attorney who deals with real estate in Israel.

1. To drafts your custom documents

Most real estate agents are not expert when it comes to the point of legal documentation including the Agreement of Purchase and sale. Therefore, you need to hire a lawyer.

2. To provide the due diligence

One of the most vital property dealings services is offered by the Israeli real estate attorney is due the diligence. It refers that the attorney checks carefully all the aspects of the real estate agents and ensure you that the deal is sound and fair.

3. Help in litigation and mortgage

Providing the legal representation in the Israeli court regarding the land or the property is another duty of the attorney. Also, you need a legal help from a clever certified when dealing with property mortgage.

The Aharoni Law Offices is the most reliable name in the field of legal property dealing. Are you looking for a professional real estate attorney? Call them at 050.7322688. For more information, visit http://aharonilaw.com/

Laws Pertaining to Inheritance in Israel

Life is unpredictable. This is why inheritance laws have been made so that problems do not arise in case of succession of property from the parent to the heir, whether or not a will is made. However, sometimes, the property inherited may be in some other country, apart from the one the heir resides in.

Inheritance Laws in Israel

So, if a person has inherited property in Israel, what are the laws governing inheritance and what ere the beneficiary’s rights?

Here’s all about Israel inheritance law in case of real estate in Israel.

When the deceased is a resident of Israel: If the deceased was a resident of Israel at the time of his death, then the inheritance will be governed by the Israel Succession Law, 1965.

 As per this law, inheritance will be based on two factors;

• Through Will or
• Through Law

On the basis of the will: A will is a personal statement made by the deceased. Inheritance of property is therefore, based on the beneficiaries mentioned in the will; except for minors or others who were unable to understand the will at the time when it was made.

In the absence of a will: In the absence of a valid will of the deceased, the succession law, 1965 holds good.

This law entitles the following as the beneficiaries:

• The deceased’s spouse
• The deceased’s children and their descendants
• The deceased’s parents and their descendants
• The deceased’s grandparents and their descendants.

The law prioritizes the heirs in the above order. For instance: The children will get priority above the parents.

However, considering the lack of knowledge of Israeli law, it is advisable to hire a sound and reputed Israel legal firm to handle the inheritance like the Aharoni law firm.

The Aharoni law firm handles all aspects of Israeli inheritance laws, probate, succession laws and estate vigorously and wisely.

For further details, contact them at www.aharonilaw.com

Expert Tips by Lawyers to Safeguard the Interests in Real Estate Investment

Foreigners are ready to shell out the savings made over years to buy real estate in Israel. Thanks to the progress of Israeli real estate, properties here have the potential of coal minefields.

However, as you rejoice at the best investment made in a lifetime, there comes a legal matter that robs your sleep away. The lucrative investment soon turns nightmarish, while you have to deal with legal matters in a foreign land. Moreover, settling the matter burns your pockets heavily. What’s more, you are not even sure if the real estate deal will be fruitful or not.

Lawyers at Aharoni Law Firm  

Well; do not despair. Legal matters of all kinds, including real estate can be efficiently handled by the expert lawyers at Aharoni law firm. However, to avoid the pitfalls, here’s some advice given by lawyers to real estate investors.

Here are some points to be considered by investors before signing the contract.

• Buyers must get a letter of exclusion from the seller’s bank, which states that the property is free from debts, mortgage and other encumbrances. In the absence of this, the buyer may lose the property and the money if the property is under debt.
• Thanks to the growing real estate in Israel, many unscrupulous people have flooded the market to cash in on this opportunity. People often impersonate the original seller and sell the property with false documents. Buyers fall prey to this and lose their money. It is therefore, important to check who the original owner of the property is.
• All apartments are not built in accordance with the building permit. Being negligent of this, buyers often fall into legal issues later. So, buyers must confirm if the building is built in accordance with the legal permit or not.

Considering these points before signing the contract will save buyers from unnecessary complications. It is advisable to buy a property in Israel with the assistance of the lawyers at Aharoni law firm. They guide the clients and thus, leave no scope for nasty surprises.

For further details, contact them at www.aharonilaw.com

How to choose a Real Estate Attorney

When the seller will accept your offer, the immediate thing that you need to do is to hire a real estate attorney for preparing as well as negotiating the details of the contract.

As there are several agencies in Israel that can help you in this, you might find it difficult to choose the right one among them. You need to shortlist some names. Here are a few points that you can follow for this:

• Some of the agencies provide a wide array of services regarding legal matters and real estate is one among them. On the other hand, some are specialized in the field of real estate in Israel. To ensure quality services, choose the professionals who have proficiency in this field.
• If you are not familiar with an attorney, then ask for referrals from your friends and acquaintances. However, be careful about referrals from brokers involved in your transaction.
• Ask for a quote, and then compare it with the quotes of other professionals. If you find the quote is too high or too low then eliminate it from your list. Based on your budget and preferences, choose the right one for you.
• Some of the professionals ask for some extra fee after the completion of the task. Don’t forget to ask about this before you hire them. As it can cause a problem later.

After going through the above details, you might have understood how to choose an attorney to buy real estate in Israel. The professionals of The Aharoni Law Offices help their clients to deal with real estate issues. You can also get their assistance. In order to learn more about their services, call them at (972) 50-7322688 or check them at aharonilaw.com

Hiring an Attorney to buy Real Estate in Israel

Being a young country on the route to development, Israel makes for a great place to invest. This is why many foreigners are keen on real estate investment in Israel.

Buying Property in Israel

However, buying property in Israel is not the same as buying property in USA. As a major part of real estate in Israel is unregulated, it is important for buyers to hire a lawyer or attorney for the real estate transactions there. What’s more, Israel doesn’t even have title insurance. They do not have a standardized escrow process or escrow companies. It is therefore, essential for foreign investors to hire attorneys and consultants to buy real estate in Israel.

Independent Attorney  

The Israel law allows the buyer and seller to hire a common attorney for buying real estate. However, this is unadvisable as it often leads to conflicts between the buyer and seller. It is better for foreign buyers to hire a separate lawyer to protect their interests exclusively. As USA has many Israel law firms well versed with the rules and regulations of real estate in Israel, buyers can conveniently find an attorney or lawyer to guide them through the real estate buying process.

One such firm is the Aharoni law firm.

The Aharoni law firm is a boutique law firm and specializes in representing international clients and providing advice about the intricacies of Israeli law. They provide top-notch legal and financial advice regarding legal matters in Israel.

Their main areas of practice are:

• Israeli probate and estate law
• Israeli real estate law
• Business and Corporate law
• Israeli High Tech

For any of these, you can contact them at www.aharonilaw.com