On The House Buyitinisrael

This episode focuses on the legal intricacies of purchasing new construction in Israel, emphasizing the importance of hiring a local real estate attorney specializing in real estate law to protect buyers' interests, especially foreign clients.  Special guest Gil Efrati is a partner at the E.S. Shimron, I. Molho, Persky & Co. law firm.  With corporate, insolvency, and real estate law expertise, Gil has a notable track record in managing legal proceedings for urban renewal projects and insolvency cases, including the Hefzibah Group.

In the episode, we discuss the crucial early engagement with a lawyer, the significance of the Tofes Harshamah registration form, due diligence, securing buyer funds through Israel's voucher system and bank guarantees, and deposit refundability.   We also explore the time frame for closing a deal, the importance of involving an architect, and the final registration of ownership rights.

Gil Ephrati can be reached by email at gephrati@smplaw.co.il.

This third episode of the second season of On The House, which focuses on buying new construction in Israel, emphasizes the importance of understanding what you are purchasing before proceeding with the legal processes and the transaction. The episode features experienced interior designer Tamar Harow, who specializes in assisting clients, particularly those from abroad, in understanding the nuances of their purchases, from evaluating apartment plans to ensuring that the property meets their expectations. Discussions include the significance of verifying unit sizes and specifications, understanding technical documents, and the importance of planning for additional costs such as air conditioning, smart home capabilities, and customizations.

Tamar shares insights on working with builders, choosing the right finishes, and the cost-saving benefits of making changes early. The episode also touches on coordinating purchases and changes for clients living abroad and emphasizes the value of professional guidance through the buying process. 

To contact Tamar Harow or learn more about her professional services, please visit her website.

This episode of On The House features an in-depth discussion with Meir and Chanan Sand from the Sand Real Estate Group, focusing on the intricacies of buying a new home in Israel, particularly for foreign resident buyers.  They outline a comprehensive guide for potential buyers in selecting the right property, from choosing a developer to understanding the significance of the location, neighborhood, and various amenities. Additionally, the Sand brothers emphasize the negotiation process for better prices, terms, and improved tech specs. The conversation highlights the Sands' specialized approach to forming communities of overseas buyers to enhance negotiating power and secure better deals from developers.

This episode kicks off the second season of On The House with a deep dive into purchasing new construction or 'off-plan' in Israel. Special guest Ellie Gertel, a Boston-born entrepreneur and founder of the Barav Real Estate Development company, shares his journey into the real estate industry in Israel, his company's approach to development, and his insights on buying off-plan. This episode covers the role of the developer and the contractor, the benefits of new construction, payment terms, the significance of the madad (inflation index), and security measures to protect buyers. It also addresses potential risks, including developer bankruptcy or delayed projects, and offers advice on financing and choosing the right developer and contractor.

The discussion touches on the broader context of increased interest in Israeli real estate from Jews worldwide amidst rising anti-Semitism globally. Gertel reflects on the emotional and historical appeal of owning property in Israel and the unique aspects of the Israeli real estate market.

In the fourth and final episode of our opening season, Introduction to Real Estate in Israel, we give a bird’s eye view of Israel and provide an overview of the various regions in the country, including Judea and Samaria. Our guest, Gila Specter, certified land appraiser, shares insights into the regions, discussing urban and rural residential options, the implications of buying in a town or city, as well as the complexities of buying in a Moshav or Kibbutz, and weather considerations in different parts of the country.  Finally, we address land ownership in Israel and the potential challenges that may arise when a lease expires.

To contact Gila Engel, please email her at gila@yaron-spector.co.il.

In the third episode of our opening season, Debbie Goldfischer hosts veteran agent and founding member of the Real Estate Association in Modi’in, Zev Schumacher to address the question “How can I buy real estate in Israel?”. Together we talk about working with agents, a topic that is especially important for those unfamiliar with the local market and business conduct in Israel. Zev highlights the benefits of working with an agent and discusses the agent's role, from a buyer's and seller's perspective. He advises buyers on what to look for in an agent and discusses the issue of real estate agents’ commissions in Israel. He also shares insights on the structure of real estate offices in Israel and he stresses the importance of gaining professional guidance, especially for new construction projects.

To contact Zev Shumacher or see the properties he is marketing in Modi’in, please visit his website at https://shumacher.net.

For assistance with buying off-plan, please email info@buyitinisrael.com or visit https://www.buyitinisrael.com to sign up for real estate news, updates, and guidance on real estate in Israel.