Updates - in the home stretch!!

It's been a while, but here's what we're up to:

1. Furniture purchased
1. Couches, dining room table and chairs and coffee tables were purchased together at a great deal - 15,000 for the lot.  The table is beautiful, solid wood and expands to 9.5 feet.  Couches are super comfy.
2. Beds - we bought a new bed for ourselves that's designed to either stay together or split down the middle and new wider mattresses as well as a trundle frame for our current mattresses for the guest room and two night tables
3. Walk-in closet - had it designed by a guy in Jerusalem - will take pictures when it's installed
2. Sorted out question about house expansion
1. The seller - who happens to be a contractor himself showed me on the plan where it says we can expand - the secretary didn't know what she was talking about
3. Have now paid for 90% of the house and are waiting on the last bit until receipt of keys
1. But, thanks to a smart banker we don't have to start on the mortgage until August.  Thanks to a glitch by our landlord last year when she deposited 2 months rent instead of one, that means that we don't get stuck with double rent.
4. Have move-in date
1. We're aiming for Aug 25th - a Sunday. The sellers are planning on being out by Shabbat.
5. Spoke with Aabed about painting and he's arranging it
6. Paid LAST rent check.

Here's what we still need to do:

1. Purchase appliances
2. Arrange movers
3. Get a piece of paper from the other lawyer for the bank
4. Transfer the final payment
5. Transfer the Arnona, water and electric bills
6. Go to Ikea for a few things
7. Finish packing
8. MOVE
9. Finish up with the current apartment
10. Plan for Rosh Hashanna.  Hahahahahahaha

In other news, I'm planning to go back to school this fall for my teaching certification, so got even more on the plate.

Almost, almost done with mortgage

Called a couple of insurance brokers and was able to get from the bank's offer of 160 NIS a month for mortgage insurance down to 110 a month.  Also, found an English speaking broker, so I'm going to have him insure the contents and do life insurance (not tied to the bank) after we move.

Got a call from the Shammai yesterday.  He sent in his paperwork.

Opened up an account with Mizrahi Tefahot.

Sent in Michtav Kavvanot.

All that's left is to pay the fee for opening the mortgage file (about 850 NIS after the 50% discount) and then I can collect the money!!

I spoke with a friend who works for the city, and I may be able to get the oleh discount on Arnona (municipal taxes) once we move.  I've been here for a while, but I never used it, so he's going to try and help me with it.

The last time I was at the house, I asked the sellers about the ishurim for the expansion that the city had claimed they didn't have.  They showed it to me on  the plans the city had copied for me - the secretary I had spoken with didn't know what she was talking about.

It's all coming together!!

My lawyer took care of most of the stuff on the list.  The Shammai is coming on Monday.  I'm still waiting on the michtav kavvanot and I need to copy a bunch of papers for the shammai.

Last week, I went to the Engineer's office to copy the house plans.  The woman mentioned to me that if I want to expand on the house, I should come back and we'll discuss my options.  I told her that I was told by the sellers that they already had the permits and plans to expand the side of the house, and she didn't know what I was talking about.

I'll see the sellers on Monday during the shammai visit and I'll ask them for copies of the plans so that I can take them back to the Engineer's office.  I doubt they are lying - they don't have a reason to at this point, but there might be some crossed wires with the engineers.

More paperwork

The bank gave us a mountain of paperwork to get signed.  Some of it by the seller, some of it by the lawyers and a few other things.  Below is the complete list

1. Life insurance (on the house)
2. House insurance (also with the bank as the beneficiary)
3. Bank information for the sellers - where they want us to send the money we get from the bank
4. Michtav kavvanot - still not sure what that is but the sellers had to do it.
5. More stuff for  the sellers
6. Power of attorney notarized
7. Stuff for the sellers
8. Appraisal of the value of the house
9. Property registry.  If we lived in pre-67 Israel, this would be done through the Tabu.  Since we don't, we use the Minhal Ezrachi, or Civil Administration, aka the army.
10. Paperwork for the tax people
11. Receipt for the down payment
12. Payment for opening a mortgage file.

The lawyer took care of most of this stuff for me.  I'm in charge of the insurances, the appraisal and no. 12.

Insurances - I asked around and it seems like the banks offer the best deals for that type of insurance, as opposed to going private.  Haven't signed anything yet, but making progress.

Appraisal - just got off the phone with the guy.  The bank gave me a list of three people to choose from.  I chose the one who lived the closest.

The appraiser gave me a list of things I have to chase down and xerox before he can come and look at the house.  Things like the initial building permit from 1985, the building plans, etc.

Mizrahi success

We schlepped out to Mizrahi in Airport city this morning to see our English speaking representative and see what they would offer us.

Just a note - in the meantime, after speaking with the parents, it was decided that we're best off getting an adjustable (every 5 years) mortgage with very low monthly payments so that we can start saving up and pay back the whole megillah early.

Here is a summary of the offers we have received

Bank	Prime amount	Prime interest	ARM amount	ARM interest	Fixed amounts	Other interest	Bonuses
Poalim	228,000	2.10	393,800	2.14	71,200	2.35	30% off cost of opening up mortgage file
Otzar Hachayal	231,000	2.10	462,000	1.95
Mizrahi (second time)	230,000	1.99	463,000	1.79			50% off opening up mortgage file (if we open an account)

Also, Mizrahi approved us in 5 minutes - while we were sitting there!!
We signed something like 100 pages and were given a shopping list of things we need to get done before we collect the money.

Most of them are done by our lawyer, who will be getting a call from me later today.  I do have to call an assessor to come and assess the value of the house for the bank and get a few things notarized.

Approvals and more estimates

I went to OTzar Hachayal, and handed them the paperwork I had from Poalim, stressing that I had not received approval yet.
The woman there was very helpful and even saw me 15 minutes before my meeting time.  She saw what I had been offered and reduced the interest rates even more.

A few days later I got approval from Poalim.  Otzar Hachayal however wasn't so happy with a single income household, so they didn't deny me but they didn't approve me either.


I made an appointment with Mizrahi to see what they would offer me.

Finally got an estimate

I got a call back from Poalim on erev chag saying that the teudat zakaut had finally come in.  After several failed phone calls, because they don't answer their phones, made an appointment to get an estimate and actually apply for a mortgage.

I arrived on time, and still had to sit there with a squirmy 10 month old while the banker puttered around.

The estimate she gave me was amazing. She said we get better rates because we have an account with Poalim, and the rates she gave me were much lower than Mizrahi had cited.  She also realized that we're still missing a crucial piece of paper, an ishur zechuyot, so we called my lawyer who called the seller's lawyer, who called the company - in short, we're stalled until we get that piece of paper.

In the meantime, I went into Otzar Hachayal to see if we opened an account there if that meant better mortgage rates.  They told me it is illegal to do quid pro quo, but that we could get good rates anyway.  Interesting.

I have an appointment for an estimate with Otzar Hachhayal for Thursday. We'll see what rates they offer me.