Author Topic: Purchasing real estate in Israel -- help / gameplan w. mortgage, logistics, etc!  (Read 3440 times)

Offline ranhan429

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Hi.

My parents need me find the ideal TLV apartment, and purchase it. It is a long process and I need help understanding many different aspects before I can even begin looking. And make a game plan to try and get credit card points for their purchase. They are clueless! So if you are anyone else you know could help me I would really appreciate it.

Factors:

-My parents have USD. so I need to figure out best way to move a lot of USD to Israel (likely will be needed to be converted to NIS) for the down payment. Obviously for as little fees as possible. Possibly getting points on CC if somehow feasible.

- I have Oleh benefits (don't know what exactly they are)

- Obviously we want to pay mortgage on credit card... Is it possible / options / etc

- lowest mortgage rates in Israel / good options (heard about getting a mortgage that is tied to the USD value, this would be something extremely good for them).

- How mortgages in Israel work in general...

Thanks so much for any leads!!!
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Offline asks

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Hi.

My parents need me find the ideal TLV apartment, and purchase it. It is a long process and I need help understanding many different aspects before I can even begin looking. And make a game plan to try and get credit card points for their purchase. They are clueless! So if you are anyone else you know could help me I would really appreciate it.

Factors:

-My parents have USD. so I need to figure out best way to move a lot of USD to Israel (likely will be needed to be converted to NIS) for the down payment. Obviously for as little fees as possible. Possibly getting points on CC if somehow feasible.

- I have Oleh benefits (don't know what exactly they are)

- Obviously we want to pay mortgage on credit card... Is it possible / options / etc

- lowest mortgage rates in Israel / good options (heard about getting a mortgage that is tied to the USD value, this would be something extremely good for them).

- How mortgages in Israel work in general...

Thanks so much for any leads!!!
you're in the credit card forum. welcome.

Offline ranhan429

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you're in the credit card forum. welcome.

Well I didn't know where else to put this and since I wanted to optimize credit card points on a mortgage purchase I figured it could fit in here.... CMIIW
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Online Ergel

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The one thing I can tell you is that you won't get any CC points for this process
Life isn't about checking the boxes. Nobody cares.

Offline ranhan429

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The one thing I can tell you is that you won't get any CC points for this process

Well my Israeli friend who just bought a house told me that it was possible to pay the mortgage with a credit card. So are you just saying that - or do you actually know something useful?
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Offline Drago

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Well my Israeli friend who just bought a house told me that it was possible to pay the mortgage with a credit card. So are you just saying that - or do you actually know something useful?
I bought a house here and have never heard of it. And if it does exist, there will be a fee.

I'd advise they consult with a professional mortgage advisory service about your questions. I know you want to maximize the miles you can earn off of them, but that'll likely be peanuts to the loss they'll incur if they don't go about this the right way.

You don't play games on $500,000 purchases in order to earn a few $k of miles.

Offline ranhan429

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I bought a house here and have never heard of it. And if it does exist, there will be a fee.

I'd advise they consult with a professional mortgage advisory service about your questions. I know you want to maximize the miles you can earn off of them, but that'll likely be peanuts to the loss they'll incur if they don't go about this the right way.

You don't play games on $500,000 purchases in order to earn a few $k of miles.

I PMd you drago. But obviously I wouldn't do it if the fee out weighted the points gained (that defeats the purpose).
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Offline HDS

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I bought a house here and have never heard of it. And if it does exist, there will be a fee.

I'd advise they consult with a professional mortgage advisory service about your questions. I know you want to maximize the miles you can earn off of them, but that'll likely be peanuts to the loss they'll incur if they don't go about this the right way.

You don't play games on $500,000 purchases in order to earn a few $k of miles.

^ This.

Also, Nefesh B'Nefesh may have some advice, or know people like this who can help.

I know that the mortgage process in Israel is kind of complicated - you will likely end up with multiple mortages, each tied to something different (one to the dollar, one to the shekel, one at a fixed rate, etc.) but that's all I know.

Offline Miracle

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When I was looking into buying an apt in Israel, I spoke to a mortgage broker. His name is Adam Siegel 052-714-4056
English speaking.

He also told me that he can help you transfer the USD to Israel and convert. If you do it by him, he can give you better rates.

I didn't end up buying :(  However, he was very helpful and patient!

Someone, please tell me if giving his number was against the rule. If it was, then I will modify post.


Offline satturn

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for moving money i recommend gershon kayman - forexlegal@currencyave.com

For mortgages i recommend - Jonathan Karp- 054-842-5346 cmkarp@gmail.com

Lawyer - Shevi Feld - 0722512511


Offline EP123

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Keep in mind that no matter where you buy it is not actually yours, by yovel it goes back (to the shevet?)

Offline ranhan429

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for moving money i recommend gershon kayman - forexlegal@currencyave.com

For mortgages i recommend - Jonathan Karp- 054-842-5346 cmkarp@gmail.com

Lawyer - Shevi Feld - 0722512511


When I was looking into buying an apt in Israel, I spoke to a mortgage broker. His name is Adam Siegel 052-714-4056
English speaking.

He also told me that he can help you transfer the USD to Israel and convert. If you do it by him, he can give you better rates.

I didn't end up buying :(  However, he was very helpful and patient!

Someone, please tell me if giving his number was against the rule. If it was, then I will modify post.


Thanks a bunch!!!
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Offline Miracle

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Thanks a bunch!!!
You're welcome. Hatzlacha rabba!  BTW, I've heard good things about Shevy Feld as well.

Offline ranhan429

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You're welcome. Hatzlacha rabba!  BTW, I've heard good things about Shevy Feld as well.

Great! Toda rabba. I have no idea where to start. So hopefully these people will be a push in the right direction. It is insanely intimidating project I have essentially offered to take on for my parents -- and I am extremely pedantic about knowing all the rules....
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Offline since1492

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my sister is buying a house in israel bez"h. is it possible to take out an american mortgage to buy in Israel? anyone have any experience with this? bec the Israeli mortgage rates are crazy! also any other advice? thanx alot!
the masmid atzum
מאז

Offline Miracle

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my sister is buying a house in israel bez"h. is it possible to take out an american mortgage to buy in Israel? anyone have any experience with this? bec the Israeli mortgage rates are crazy! also any other advice? thanx alot!
Indeed the rates are ridiculous! I doubt you'll get a loan in USA to buy in Israel. Also, transferring/exchanging that amount of money to Israel is rough because of the poor exchange rate. 

Offline ranhan429

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I actually ended up purchasing an apartment... I spoke with a lot of people regarding mortgages... The rates are high but you need to shop and haggle.. We were able to lower each of the tracks between 0.7 -2% from our original offer. Theres also a forum in hebrew called tapuz where people post offers they've gotten... GL
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