The Risk Of Buying Real Estate Israel

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The Risk Of Buying Real Estate Israel

One of the fastest growing real estate businesses in the world today is the Israel Real Estate. The property market has been evolving rapidly, even attracting customers from other countries. However, there are certain pitfalls to buying property and real estate in Israel. Here are some of the drawbacks that have the potential of occurring which can be found on immobilier israel http://seloger-en-israel.com:

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  • Lower Standards:

The standard of “luxury” for Israelis differs to those of the developed countries such as Americans. For Americans, hardwood floors, open kitchen with islands, electric blinds may be some of the most normal components of an average home. To Israelis, these basic elements of the home may also come under “luxuries”.

  • Buyer Insurance:

A customer buying property in Israel may find that he/she is not entitled to the insurance that one would normally receive in America. This insurance provides the protection to the potential buyer from any unfair losses that they may be subjected to in case the transaction turns sour. In such as case, if the agent sells you 200 square meters and the customer receives only 150, the transaction is still deemed to be fair to the buyer.

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  • Land Registry:

Advisors also highly recommend checking the land registry or the ‘tabo’ personally to avoid any frauds and sourness in deals, as it is often a source of problems.

  • Price Increases :

The consumer price index is directly related to the cost of real estate. Therefore, one should be informed that houses that are under-construction or in planning may be more expensive once the contract is signed. Therefore, the installments to be paid may increase over time. Moreover, contractor’s legal fees have to also be covered by buyers although a minimum sum has been decided by the law.

  • Negotiability:

Another aspect that differs from American Real Estate is the fact that the open market allows the buyers (and sellers) to negotiate on almost everything.

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