The first step is to obtain an agreement in principle. This is an agreement that establishes a line of bank credit with your Israeli lender. This is highly advisable before beginning point of sale to make sure that all parties are of equal understanding of the arrangements. Finance laws have differing implications in Israel compared to the US and European countries, so it is important to have the same understanding as your lender. MASHKENTA uses all its resources to get you an agreement in principle as soon as possible. We offer tailor-made real estate loans and put you in contact with all the partners who will guide you throughout this residential journey.
After obtaining the agreement in principle, we help you to refine your budget and reevaluate it if necessary. For a real estate purchase, you must consider all the elements depending on the nature of the investment you want to make. Buying your principal residence does not have the same budgetary implications as a rental investment. We will also help determine fees for registration.
We define with our property partners the property that corresponds to your budget and meets your purchasing criteria. Depending on the type of the property (primary/secondary residence, or other real estate investment), we will determine the best performance and advise you in your choices. We will put you in touch with professionals across the country to help you make the right moves.
Prior to signing the acquisition contract, it is advisable to consult with legal counsel. Mashkenta is partners with legal advisers who will work with you to review your property and contract before signing. This is also done to reconcile elements of the property’s purpose with the credit of the loan, such as location and use (among others).
Once the agreement in principle is obtained for the mortgage, with the determined property and the lawyer by your side, Mashkenta coordinates all the operations for the release of funds from the bank. We take care of the registration of the mortgage in the land registry, we deal directly with the salesmen’s lawyer to obtain the required signatures, and we follow all the operations and report to you from day to day until the delivery of the keys.
During the term of your mortgage, we continue to inform you of any changes in your current credit. Our advisors send you an explanatory note of the amounts you pay every month. If interest rate fluctuations and currencies prove to be unexpected and damaging, we will propose a suitable solution.