{"id":434,"date":"2014-12-07T19:19:19","date_gmt":"2014-12-07T19:19:19","guid":{"rendered":"https:\/\/www.domestictlv.co.il\/en\/?page_id=434"},"modified":"2019-10-29T10:57:21","modified_gmt":"2019-10-29T10:57:21","slug":"tel-aviv-real-estate","status":"publish","type":"page","link":"https:\/\/www.domestictlv.co.il\/en\/tel-aviv-real-estate\/","title":{"rendered":"I’M BUYING AN APARTMENT"},"content":{"rendered":"
Buying a property in Tel aviv real estate market<\/strong><\/span><\/h5>\n

Buying an apartment in Tel Aviv real estate market is not an easy task. We will help make the purchase of your apartment as easy as possible.<\/span><\/p>\n

How can I prepare myself for the purchasing process?<\/strong><\/span>
\n Buying an apartment is an exciting decision, but you must take many factors into consideration. First, you should devote time to deciding about various parameters, such as your price range, preferred location, type of dwelling (for example, garden apartment, penthouse , apartment in a tower, etc.), and size. Then you need to prioritize your other requirements, such as parking, elevator, exposures, storage space, surrounding areas and grounds, schools, etc., but you should also be flexible.<\/span><\/p>\n

In estimating your purchasing budget, you will need to know how much you can afford for your initial payment and what the monthly expenses will be, such as maintenance, management fees (if they exist), and mortgage payments. Also, it is important to find a professional real estate agent who knows the maket prices, can help you navigate this process, direct you to a suitable mortgage adviser, and, if necessary, recommend a Tel Aviv lawyer who is experienced in real estate transactions.<\/span><\/p>\n

What should I look for in a real estate consultant?<\/strong><\/span>
\n Purchasing an apartment is not only an important financial decision, it is also one of the most important steps you will ever take. Nothing reflects us and our way of life more than the home in which we live. Therefore, you need to ensure that your real estate consultant understands you and your requirements.<\/span><\/p>\n

As a first step, ask for recommendations from friends and acquaintances who have purchased apartments with the help of real estate consultants. It is important to choose a professional who specializes in apartments in your price range, as well as in the areas in which you are interested; one who will adapt himself or herself to your timetable, will be attentive to your needs, asks many questions about your way of life, and will explain things that will help you make a decision.<\/span><\/p>\n

Finding an apartment is not an easy process, especially in the dynamic Tel Aviv market, and it may take a lot of time. So it is important to find a real estate consultant who knows how to make the process easier for you, can save you a great deal of time and money, and, most important, can find the apartment that is most suitable for you.<\/span><\/p>\n

How will I finance the purchase of my apartment?<\/strong><\/span>
\n Many buyers in Israel rely on a mortgage to finance the purchase of an apartment. There are many mortgage calculators on the Internet which can help you in your initial inquiry about the size of monthly payments. In most cases, you will need to enter such factors as your preferred interest rate, the size of the loan, your age, and the period of the loan. What you can learn from this mechanism, considered together with your income, will give you a better idea of your price range.<\/span><\/p>\n

The banks and other lenders usually require that monthly payments not exceed one-third of your net monthly income, no matter what the size of the loan may be. Therefore, the next stage is to obtain approval in principle of a mortgage from the lender, and it is advisable to do this in the initial stages of your search for an apartment.<\/span><\/p>\n

Why? Because it is a shame to waste precious time and energy looking for an apartment if you do not know how and whether you will be able to finance the purchase. Also, obtaining approval of a mortgage in principle is a simple process and will enable you to make a more level-headed decision on the spot, when the time comes.<\/span><\/p>\n

What do I need to know when I see an apartment I like?<\/strong><\/span>
\n It is said that the average buyer needs only 30 seconds to decide whether he or she likes or dislikes an apartment for sale. But this is certainly not enough time in which to decide whether or not to proceed to the next stage of the transaction. On the assumption that you like the apartment, there are other details you will need to know, such as: how long the apartment has been on the market; whether and how the apartment is listed in the land registry; what renovations have been made in the apartment and what they include; how many neighbors there are and what percentage of the apartments in the building are rented; whether a management company maintains the common property in the building; whether the roof, gardens, parking areas and storage spaces belong to all the apartments owners or to particular ones; whether renovations of the building are planned, such as resealing the roof or the construction of an elevator; whether there are noise nuisances in proximity to the building and\/or the apartment, such as a nursery school, and, if so, during which hours.<\/span><\/p>\n

It is important not to hesitate to ask as many questions as necessary to find out what is not directly apparent and to get as complete a picture as possible. A reliable and professional real estate agent will know how to get you all the answers and to present all the relevant information.<\/span><\/p>\n

I have found an apartment. What now?<\/strong><\/span>
\n So your real estate consultant has found you an apartment and the seller has accepted your offer. What happens now? At this point you will need to turn to a lawyer who specializes in land and real estate transactions in Tel Aviv so that he can inspect the apartment and all the relevant legal aspects. Then, the apartment seller\u2019s lawyer and your lawyer will draw up a contract that specifies the structure of the transaction, with all its legal details and components.<\/span><\/p>\n

In addition, you will have to inform the lender that you have found an apartment and that you would now like to make use of the approval in principle of the mortgage. The lender will grant the loan only after the sale contract is signed. After you have signed the contract and made the initial payment to the seller, a warning notice in your favor will be entered in the land registry.<\/span><\/p>\n

Congratulations! Is this the end? Definitely not, but most of the process of finding and purchasing an apartment is behind you. A professional real estate consultant will accompany you throughout the process, right up to the moment you receive the key to the apartment.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Buying a property in Tel aviv real estate market Buying an apartment in Tel Aviv real estate market is not an easy task. We will help make the purchase of your apartment as easy as possible. How can I prepare myself for the purchasing process? Buying an apartment is an exciting decision, but you must<\/p>\n

Read the full article<\/a><\/p>\n

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