Time of delivery of possession in the apartment
- Buying an apartment in Israel
- Contract Structure
In our districts, it is customary for the delivery of possession of the apartment to take place at the same time as the buyer has paid the seller the full amount.
Here a problem may arise as to how this matter can be ensured – the problem of the egg and the hen. What comes before what? After all, it is not possible to perform both operations at the same time.
A solution can be found when the buyer deposits the last payment through a bank check with the seller’s representative, and after the buyer has physically received the possession of the apartment, the seller’s representative will transfer the check to the seller.
You can make a preliminary inspection of the apartment, transfer payment and then vacate the apartment. Another option is to transfer the payment to the power of attorney recognized, in the interim.