Peace???

http://www.pmw.org.il/

Happy Chanukah

Random pics Neve Daniel

Clouds, Neve Daniel

Another beauty courtesy M.Berger

Must Read

I have to pass on this amazing post from David Bogner over at Treppenwitz... truly a must read!


http://bogieworks.blogs.com/treppenwitz/2007/11/my-cab-ride-to.html#comments

Sunset from Neve Daniel

(courtesy M.Berger)

Always funny

How to buy a house in Israel

After a long, long process I though I would post my top 10 tips on how to purchase property in Israel from abroad. For any more information, please email.. and ill try to help.....

here we go.....

1) Be realistic about time frame

- Likely won’t be able to finalize purchase on a 10-14 day trip.
- Get everything set up to purchase from abroad, this is your mission.



2) Steps that must be taken prior to purchase ( i.e things to do on the trip that will et you purchase from abroad)

- Sign over Power of Attorney to your lawyer
- Mortgage broker – start application prior to trip
- Open a bank account- not necessarily bank you will have mortgage with
- Meet your engineer / property inspector
- Meet Vaad Klitah of yishuv, ask them if there are any preconditions to buy

3) Don’t underestimate amount you will need for a downpayment
- Expect down payments of 35-40% (especially over the “Green Line”)
- Unlike in the US/ Canada, its more downpayment that limits you

4) Understanding the sequence of events
- Putting an offer
- Contract negotiations
- Pre approval on mortgage BEFORE signing contract
- Inspection by engineer before signing contract
- Sign contract.. once you do tehre is no turning back


5) Specify how long from signing until the bank makes the payment
- Normally 30 days… try to double it!
- There is alot of paper work etc...



6) Property evaluation….
- Even after a written pre approval bank, there is a clause that they will only give you percentage based evaluator
- Get this done early (before signing if possible)
- Or have stipulation in contract

7 Be wary about buying into a project
- Many people have done it
- Most people find it extremely demanding doing it from there
- Benefit of payment in steps
- More for do it yourself type


8) Put aside money for fees…

a. Lawyers fee
b. Mortgage broker fees
c. maas rechisha
d. cost of inspection
e. cost of evaluation
f. cost of opening Tik for mortgage
g. property insurance ( requires credit rating, now from Canada as well)


9) Try meet people, email before trip…. To get a sense if they are people that fit your personality, you will be dependent on them!!

10) Rights lost: ( not so significant anymore)

- Maas rechisha reduction ( unless purchase within year)

- Government mortgage


Hope this helps.......

It is done.....

Well it only took about 4 months but B'H we finally got the mortgage and the house purchase has gone through. I know that Israel today is very unlike the Israel of 20 years ago, but let me tell you, the mortgage process is very "old school."

Anyway, B'H it got done, moving date still looking like August.

All welcome to visit.