Up until very recently, there were only two banks that allowed taking a mortgage using a power of attorney, meaning the borrower didn't need to be in Israel to get a mortgage. Those were Bank Mizrahi-Tefahot and Bank of Jerusalem, that are traditionally more knowledgeable and accommodating towards foreign buyers. They are, subsequently or [...]
Do banks consider rental income when applying for a mortgage? When applying for a mortgage every Shekel of income count - both in order to insure that you'll actually get an approval and and also to get better rates and terms. The case when you already own an apartment If [...]
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Real estate professional column- Jerusalem Post December 2016 Real estate buyers in Israel can be divided into a few categories: The procrastinators – those who wait for prices to go down; the know it all, that bought before prices went up and “know” everything there is to know; the complainers- [...]
When is the right time to include the lawyer?If you are buying: Right after you agree on the price. At this stage you let your lawyer speak to their lawyer. Usually the seller’s lawyer is the one drafting a contract, but not necessarily.If you are selling: When you made up your mind to sell. That [...]
Often I feel this is how people treat real estate: It doesn’t matter what you buy, as long as you buy real estate. Whether you just got married, made Aliyah, or want to buy an investment property in Israel, the first stages of buying real estate are always the same: Define the purpose of [...]
Real estate negotiations - Jerusalem Post Column October 2016 Jerusalem Post real estate supplement cover Last week I bought a new oven. Even though the store came highly recommended, I noticed the salesperson was trying to upsell the oven I was buying. And yet, I ended up paying the exact price I [...]
Real estate negotiations - Jerusalem Post Column September 2016 Jerusalem Post real estate supplement cover When strolling through Machne Yehuda market you might notice a peculiar phenomenon or actually the lack of one – no one haggles over prices. Compare this to the market on Friday afternoon, and you will immediately notice the [...]
Buying a house on paper has it's advantages - mainly a higher standard of living, but also has costs associated. Though every project has it's own specifications, it's own contractor and it's own contract, there are few costs that appear across the board. 1. legal costs In addition to paying for your own lawyer, [...]
Real estate negotiations - not a zero sum game Jerusalem Post real estate supplement cover People negotiate every day whether they realize it or not. You negotiate when you discuss with your wife who will wash the dishes and who will throw out the trash, you negotiate with your friends on where [...]
