Israeli banks do not auction homes themselves. When a borrower defaults, the bank opens an enforcement file, a receiver is appointed, and the property is sold under the Execution Office’s supervision. Several banks also list these sales on their own sites, outside the portals.
From default to sale
For a home, the bank cannot file for enforcement until six months after the first missed instalment. Execution Law, s. 81B1(a).
The registrar appoints a receiver, who sells as the registrar instructs. Execution Law, ss. 53 and 54.
The registrar approves the buyer and the sale. Execution Regulations, reg. 68(b).
Where the banks publish
Bank Leumi publishes properties for sale and a separate tab of properties in receivership, with the receiver’s name and phone number.
Bank Hapoalim has a page of assets for sale. First International Bank (FIBI) and Mercantile publish their own lists.
These pages are in Hebrew and are not syndicated to the main portals. We read them every working morning.
The terms you accept
Bank Leumi’s notice states that properties are sold in their existing condition, “as is”, that the bank may run a bidding process between offers, and that it is not bound to accept the highest offer.
Read the receiver’s sale notice for the deposit, the deadline and who carries arrears. These vary file by file.
Sources
- Bank Leumi, properties for sale and in receivership
- Bank Hapoalim, assets for sale
- First International Bank, assets
- Mercantile, receivership properties
- Execution Law 1967 (Hebrew, Nevo)
- Execution Regulations 1979 (Hebrew, Nevo)
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