APARTMENTS IN TEL AVIV READY FOR THE JOURNEY?
Needs and Wants list It is very important to make a list of wants and a list of needs.
Prioritizing Understand what cannot be compromised and even more important to know what I can give up.
Budget Understand what funds are available to you. Then it is highly recommended to build the budget (how much can I spend on the first payment, will I need a mortgage, what are the financing costs and so on).
Financing Many buyers use a mortgage to buy an apartment. It is important to get a mortgage approval in principle from the financing body, and it is advisable to do so in the early stages of the apartment search! why? Because it is a shame to spend valuable time searching for an apartment if it is not known how and whether I can finance its purchase. Also, a mortgage approval principle is a simple process and will help you make a better decision in real time.
Searching for an apartment is considered the most difficult phase in the process. You really have to 'comb' the market on various portals, real estate agencies websites and physically tour between quite a few properties until you find the right apartment. In Tel Aviv high demand areas (low supply versus high demand) finding an apartment requires hard work and can cause great frustration. So be patient!
In order to facilitate and streamline the process, you can of course use a real estate consultant. At DOMESTIC, thanks to our many years of familiarity with the housing market for sale in Tel Aviv, we can filter and offer you apartments that meet your needs and thereby improve the process of buying your apartment.
HOW TO DISCOVER A GREAT REALTOR
Buying an apartment is not just a big financial decision, but also a very important step in life. So you need to make sure your real estate advisor understands you, and your needs.
First, ask for recommendations from your friends or acquaintances who have purchased an apartment and assisted by a real estate consultant.
Ask your real estate advisor in what areas he operates and specializes.
Understand how many years of experience your real estate advisor has. Many years of experience indicate many connections, and ability to locate properties that are not necessarily advertised.
Your real estate consultant should be attentive to your needs, ask many questions, and explain things to help you make the decision. In the dynamic market of Tel Aviv, it is important to find a real estate consultant who will be able to facilitate the process and save you a lot of time and resources, and most importantly find the right apartment for you.
I LIKED AN APARTMENT – WHAT'S NEXT?
It is said that the average buyer takes 30 seconds to decide whether he likes an apartment. But that is certainly not enough to to move to the next stage of the deal. Assuming the apartment is right for you, there are other details you need to know such as: how long the apartment is on the market; If and how the apartment is registered; When was the renovation done in the apartment and what it included; How many neighbors there are and what percentage of the apartments rented in the building; Is there a management company that maintains and manages the building; Does the roof of the building is joint property or belongs to a private owner; Is the building before renovations (roof sealing, elevator installation and more); Are there any noise factors around the building and / or the apartment (for example a kindergarden) and if so what hours; and more and more. It is important not to be ashamed of asking as many questions as possible in order to try to find out what is not directly visible and get a full picture as much as possible. At DOMESTIC, we will know to give you all the answers and reveal to you all the relevant information.
I FOUND AN APARTMENT – WHAT NOW?
Contact a lawyer specializing in real estate transactions in Tel Aviv to check the apartment for its legal aspects.
Lawyer of seller and your lawyer prepare a legal contract detailing the structure of the transaction on its commercial and legal aspects.
Notice your financing body that you have found a specific apartment and that you want to exercise the mortgage approval. The financing body will only give the loan after signing a purchase contract.
Sign the contract, next your lawyer will register a warning note in Taboo under your name, and only then transfer the first payment to the seller. Congratulations!