Setting Yourself Up To Purchase Your Jerusalem Home

Setting Yourself Up To 

Purchase Your Jerusalem Home

(These are the thoughts of CapitIL Real Estate Agency Sales Director Ben Levene.)

Jumping into your property search can sometimes seem daunting. Here are some of the main things to take care of during a trip to Israel in preparation for purchasing a property that are crucial to ensure a successful purchase.

This list is meant to be informational and is not a comprehensive list.

Understand the market and build a budget

Do not just arbitrarily pick a number for your budget.

Delve into your finances to see what you can spend, and do market research to make sure that number fits the standard that you are looking for in an apartment.

Have realistic expectations about what you can buy with the amount you can spend.

Build an expert team

Make sure you surround yourself with professionals that are trustworthy and talented.

A strong broker, a communicative and trustworthy lawyer, and a mortgage broker who is going to fight to get you the best deal possible are imperative to having a successful purchase.

If you are planning on buying an off-plan apartment, make sure you hire a designer/project manager that fits your style and philosophy so that you have an end result that you love.

Make sure the professionals you pick have a good working relationship to ensure a smooth process.

Leave power of attorney to a local family member or lawyer

Assuming you trust your family member or lawyer, leaving the power of attorney to someone who is local will make your life much easier.

This will allow you to buy without having to fly all the way in from abroad. 

Sort out your money situation as early as possible

If you are planning on moving your money from abroad, try to get this step done as quickly as possible. This will allow you to complete a deal with less stress and less delays. You do not want to lose a deal over moving your money

Do not commit to purchase without completing due diligence

It is crucial to get these checks done. These checks do not need to delay the process, they can all be done quite quickly.

If you like a property, you should shake hands in good faith, but should not sign any contracts without your lawyer doing registration checks, calling in an engineer, sorting out your mortgage,  doing a valuation (if needed) and any other things your lawyer recommends.

Skipping any parts of this process is not advised. 

Contact CapitIL Real Estate Agency.

See available Jerusalem real estate here and new development projects here.