Purchase. Sales. Rentals. Property Management.
The process of purchasing a property begins with a customer intake session with our potential buyer where we ask many pertinent questions including: main reason for purchase ( for dwelling or investment), religious identification, number of rooms and square meters needed, size of family unit, limitation of mobility or special needs, preference of specific wants including open kitchen, maximal light and air circulation, picturesque views, on suite master bedroom, and other items.
In addition we identify our customer’s preferred date of occupancy, and whether they are interested to purchase a property that requires renovation. (Please refer to our special Renovations page which describes our service).
The final buyer profile concludes with the buyer’s financial ability for purchase. When the buyer is limited with his funding, we will offer to maximize his budget through a private free consultation with our mortgage specialist. Depending upon certain factors including the status of the buyer’s aliyah, ability to show financial and employment stability, and current assets, he will give the buyer specific mortgage options.
Upon completion of this buyer intake, we will then offer certain properties that correspond to their buyer profile for viewing. These properties including three types: HaGefen Realty exclusive listings, non-exclusive properties in the open market, and exclusive properties from other real estate agencies. In regard to investment property buyers, we will offer properties that match the desired return on investment based on estimated annual rental income. In most cities in Israel the percentage of return on investment is between 3 and 4.5 %. There are certain cities that can achieve up to 6% and 7%.
In cases where the actual buyer can not attend these property viewings, we will show them to their delegated representative. We can arrange to send pictures and videos so that buyers can get a better feel of the properties.
Once a buyer identifies a property of interest, we will compose a purchase offer to give to the owner of the property or their agent . The offer will includes the amount of money offered, the date of occupancy, the amount of down payment, and certain items that will be including in the purchase (e.g closets, lighting fixtures, air conditioners, electrical appliances, etc). In most cases we will include that the purchase will be conditional upon the report of a building engineer and absence of illegal building.
Our job as the buyer representative will include negotiations with the seller in order to reach a mutual compromise and agreed purchase price. Upon this agreement with both sides, we will invite the building engineer to inspect the property. The engineering report will include a general comments on the property condition in addition to specific repairs that will be suggested to be done with the property.
If the property has a generally good structural report and minor repairs to be done, the next stage is to take the offer to the hands of the local lawyers. The seller’s lawyer will draft the contract in direct relation to the agreed purchase offer. Once the lawyers have worked out the final wording of the contract and have procured the neccesary govermental papers, they will invite all the parties for signing. The contract signing will include the down payment from the buyer. At that time the buyer will be obligated to pay Hagefen realty their service fee (2% + VAT) and the fee of the lawyer. Lechaim…mazal tov of your purchase. In cases where the buyer cannot attend the signing, the buyer will appoint someone (friend, relative, lawyer) as power of attorney.
Homeowners who sell and rent with HaGefen Realty find that listing with us yields a good turn around. Our professional presentation and marketing of your home is unique. Each time we show a property, the viewing is tailored to the specific needs of the buyer or renter, so that they can have clarity on how the property could suit them more than they might understand on their own.
Our experience and track record has been successful with every property that we have taken on with exclusive representation. When we represent a property on an exclusive basis, we give special preferential treatment. First, we investigate the recent history of local sales to establish an accurate price evaluation. Then, we review the specific upgrades and features the property includes which may affect property value and sales attraction. Then, we then create an intensive marketing campaign, which includes proper home staging for buyers, advertising via flyers, websites, social media, newpapers and magazines, and we host an open house if that is of interest to the sellers.
In addition, we market your property to other real estate agents to maximize targeting of potential buyers.