...Real Estate continued from page 37
in conclusion, speaking to fellow olim who have been through the process, gathering lots of info, using a good real estate agent, and hiring an experienced lawyer will make purchasing a home in Eretz Yisrael a great and uplifting experience. °
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You can buy property directly from the Moshe Kasher & Danny Cohen contractor (“kablan”) or second-hand Tel Aviv- July 16 (also known as a “re-sell”.) although buying straight from the kablan can Jerusalem- July 19 be cheaper, it can be a big headache and can turn out differently from your expectations. The advantage to buying second- hand is that you can actually see ...Job Market continued from page 24 what you are buying, but it will be more expensive than buying from the kablan. Getting reliable advice about mortgages has the qualifications they are looking for, is also vital in most property purchases the personal information won’t matter.” and israel is no different. a real estate bestTOpieces of advice that new olim agent can normally offer good contacts of The LEARN BE FUNNY THIS SUMMER experts that can direct you on mortgage can receive when facing the israeli job w/ instructor David Kilimnick issues. Most banks have representatives market is to come with a degree and who specialize in mortgages for new experience, preferably from a well-known 'Lenny Solomon: Shlock Rock (2 shows) August 12' immigrants. Moreover, new immigrants university and a well-known company. are entitled to receive a grant from the government specifically meant to help The most important and perhaps the with mortgages. ask your mortgage most unsettling piece of guidance for banker to calculate your “zaka’ut” new olim is that one must be willing to compromise and take a step down from (eligibility) as a new immigrant. what they are used to. There is room We also recommend hiring an engineer/ to move up the professional ladder, but surveyor (“mehandess” or “shamai”) don’t expect to win that great job right to inspect the property before signing away. aroeste explained that the job any contract. While this is not such a search in israel typically lasts between common practice in israel, a reputable three months to a year, or more. “if engineer or surveyor will give you a someone finds a job within a month, s/ detailed report regarding defects and he’s a genius. if s/he finds a job within repairs needed, and will save you any three months— superman. Most people take six months to a year. if it takes unexpected heartache. longer than that, obviously it is very Buying real estate in israel can be a very frustrating.” tough challenge. You will be given a price quote in dollars, yet you are buying With all the positives that come with a in israeli shekels, which is usually index- new life in israel, there are realities that related. The vendor may raise the asking are less than perfect. That doesn’t mean price due to the dollar-shekel index that getting a job is impossible here, but a just before signing the contract, so be little extra insight and some perseverance are needed. prepared.
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break a deal whilst making sure that your interests are looked after. some people chose to use a family friend instead of hiring a reliable lawyer. others may go after someone who is inexperienced or long-retired. Cutting corners on good legal representation can often lead to misery and long drawn-out negotiations that often cause the vendors to get fed up and pull out of the deal. if you do have a good lawyer, check if you should give him/her power of attorney so that the lawyer can sign the contract on your behalf if you are away from israel. a good lawyer will know to advise you on the specifics of buying outside the Green line for example, and on any hidden taxes that you would have to pay etc.
By law, real estate agents receive their fees immediately when a contract is signed. Fees are normally 2% plus tax from each side.
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