People buy real estate in Israel with different plans in mind. Most buyers come to realize at some point in the process that buying a property in Israel is vastly different than in the U.S. The closing process is very different, especially if you are buying into a new project not yet constructed. You will need to understand the relevance of the Building Construction Index. There are purchase tax rates that differ based on immigration status. The ownership filing and registration process and the mortgage markets are different. You need to understand how to transfer money between the U.S. and Israel before you begin the process. Closing fees differ in type and percentages.
Izzy Leizerowitz, a licensed real estate broker in Israel who focuses on serving the olim and the English-speaking real estate market, said: “Almost every time I meet a first-time homebuyer either online or in person, I need to explain and educate them on how the home buying process is different in Israel. It’s a big part of my job and I love it because it allows these clients to make smart decisions. I want every single potential client out there to come home to Israel as I did, and buying land or a home either for investment or to live, is a huge step in that direction.”
Those interested in buying in Israel are invited to learn how it all works in very simple and easy to understand terms at a program on May 9 at 8:30 p.m. in Edison. The 90-minute program will feature Avi Berger, broker/owner of Legendary Realty LLC, and Leizerowitz of Real Capital Ltd. and a licensed real estate broker in Israel, who will describe the purchase process step by step. They will also spend time answering your questions, discuss strategies, and present current home values in various areas in Israel, leaving attendees armed with knowledge and insight. Also on the agenda will be discussions on buying land and why land pricing fluctuates so much.
Seating for this event is limited and RSVPs are required to attend. To register and for more information, call Avi at (732) 659-9688 or Izzy at (786) 385-8859.
By Harry Glazer
