What You Need to Know About Buying an Apartment in Tel Aviv: Part 4

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Once everything is agreed upon, then the next step is to schedule a date for signing.

The signing is normally held at the seller’s attorney’s office, where the seller will be present, you, your attorney and your agent. If everything has been properly discussed and clear beforehand, then the meeting should take around 2 hours.

The normal down payment ranges between 20% – 30%, (*depending on what both parties have agreed) where the remaining amount is then split into 2-3 payments over a course of 3–6 months, depending of course on the payment’s time-line and your needs.

If you are taking on a mortgage to finance your home, then you will need go to your bank the following day and present them with the contract. The bank will forward the payments according to the payments time line written in the contract.

On the day of the final payment, both you and the seller will be meeting again in order to officially hand the apartment over. This is the time for you to go over everything properly and to make sure that everything is in place. If you’ve purchased the home with any kind of furniture, make sure it matches the items written in the contract.

The possession of the apartment will be officially registered under your name once all payments have been made and keys handed over.

Second hand homes are normally given at their previous state, and after waiting and planning, the time has finally come to make some improvements and transform it to fit your needs.

Whether it’s minor improvements, or thoroughly renovations throughout, hiring just the right people to do the job is paramount.

When it comes to home renovations in Tel Aviv – my biggest advice to you is – Always Expect the Unexpected!

There are certain architectural aspects that can extend the renovation process, therefore make sure to give yourself enough leeway in order to minimize the risk.

Ask among family and friends, meet with a few, and work with those who are most suitable to you and your needs. Recommendations are great, however, it is always safer and better to check them out yourself before hiring.

And most importantly – Stick to the plan!!!

Don’t do it if you don’t have to! Take things one step at a time, plan according to your current and future needs and stick to your budget as best as possible.

The key is to surround yourself with a good, experienced team to guide you and work closely with you.

Mazel Tov! You can now move in to your new home!