The Israel Bar Association announced that it will seek to cancel lawyers' fees from buyers of new homes from contractors.
Following a "Globes" investigation into the fees lawyers charge homebuyers, the Israel Bar Association announced that it will come to the aid of homebuyers, and will seek to cancel lawyers' fees from buyers of new homes from contractors.
The Bar Association has reversed its previous position to oppose a bill by MK Meir Sheetrit (Hatnua) to amend the Sale Law (Apartments) to cap lawyers' fees on the purchase of a new apartment. The Bar Association had argued that the amendment would not lower home prices, but the level of service provided by lawyers.
The Bar Association announced its new position during today's Knesset Economic Affairs Committee discussion of Sheetrit's bill to cap lawyers' fees on the purchase of a new apartment 0.5% of the price or NIS 5,000.
Economic Affairs Committee chairman MK Avishay Braverman (Labor) decided to hold another discussion on the subject in view of the reservations raised at today's meeting.
Published by Globes [online], Israel business news - www.globes-online.com - on October 28, 2013
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