Before signing: The legal guide for a young couple buying their first apartment

Attorney Mai Tzvi, partner at Eli Tzvi Atias Law Firm, provides a legal guide for young couples purchasing their first apartment. The guide covers common mistakes, mandatory checks in the Land Registry, dangers of a memorandum of understanding, additional costs, differences between a second-hand apartment and a developer purchase, mechanisms for protecting deposit funds, and non-negotiable clauses in the contract. The article is presented in collaboration with zap legal.

Attorney Mai Tzvi, partner and founder at Eli Tzvi Atias Law Firm, offers a comprehensive legal guide for young couples buying their first home. The guide warns against common mistakes such as hasty decisions made out of excitement and emphasizes the importance of preliminary legal checks in the Land Registry extract or with the Israel Land Authority. Tzvi cautions against signing a memorandum of understanding at an early stage, which may be considered a binding agreement and limit negotiation ability. She details the legal differences between purchasing a second-hand apartment and buying from a developer, stressing the need for independent legal counsel. Additionally, she explains mechanisms for protecting deposit funds, including trust accounts and caveats, and clauses that must not be compromised on in the contract. The article is presented in collaboration with zap legal.