The Ministry of Construction and Housing issues a clarification regarding those who purchased a new apartment from a project with the intention of selling it to a third party. A significant portion of these buyers are not regularly involved in the real estate sector and are not familiar with the legal requirements involved in sales transactions of new apartments.
The sale of an apartment to the buyer is the guarantee of the buyer's money. In the event that the first buyer becomes the seller, he must guarantee the money of the new buyer, especially if the construction of the apartment has not yet been completed. If the buyer who has become a seller does not comply with all the obligations applicable to the "seller" according to the law, he will be exposed to the sanctions stipulated in the law. This activity is done while paying attention to safeguarding the rights of all those involved. Real estate, as buyers, sellers, entrepreneurs, etc., with the aim of strengthening the market, lowering housing prices, and creating availability of different types of housing for the entire population.