If in case you
are overlooking for property in Israel but feel unfamiliar by its
culture, language, legal, economic and bureaucratic aspects of such
transactions then bear in mind to read helpful article when purchasing
property in Israel.
The deal when you purchasing from a contractor :
Bear
that in mind firstly to do your negotiating price, which in Israel,
purchased made off are linked to an index, and most of contractors will
link the prices to building index. If the index is increasing by the X%
then you a purchaser need to pay the increase. Link it to the cost of
living index as it will be more stable once signing the contract and
leads you to save thousands of Shekels. By this choice, you could choose
to pay more of the price earlier rather than pay later, but still just
be aware however as by paying the contractor earlier, he will having
your money in account and if there are any disputes you may wield less
power. The index is being published by the Israeli Bureau statistics and
you can have this view from its history and tracking it down at cbs.gov
website. As the builder often provides standard apartment, probably you
will like to change the plans, based on specific requirements on needs,
by this just ensure that you already inspecting the building carefully
just before signing the contract. It is very common in Israel to
negotiate improvements into body of contract free of charge, Due to
demand probably you may need extra electric sockets or stainless steel
sinks then you can try to negotiate and make sure these will be included
within the contract. Also make sure you will notify them of any changes
soon.
The deal when you purchasing from a second-hand property :
The
purchase tax in Israel due to the purchase price of the property and
one way to reduce the amount is by make two separated contracts, one
will relate to purchasing of property while another to the furnishing
that is being left. This likely will lower the price in property
contract and so does reducing the tax as well. Applicable to any
property, in Israel the banks will charge a lot of commissions, when you
need to convert your money to Shekels, use a bank or use foreign
exchange company. The latter is being recommended as it will save you
thousands of shekels. Foreign exchange can secure better rate of
exchange and not charge to transfer or receive funds
