Mechir Lamishtaken Explained
Also known as the Buyer Fixed Plan, this initiative from the State of Israel helps facilitate the buying of a first apartment with preferential terms, including at less than the market price.
A Special Report From
ISRAEL'S MOST TRUSTED CURRENCY EXCHANGE EXPERTS
isratransfer.com THE MECHIR LAMISHTAKEN PROGRAM IS DESIGNED FOR THE FOLLOWING CATEGORIES OF FAMILIES:
Married or common-law couples
Individuals over 35-years of age
Single parents with at least one single child under the age of 21 who lives with the parent**
Permanently disabled individuals age 21+ who are confined to a wheel chair and approved by the Ministry of Health**
**Special considerations apply AND IS INTENDED FOR ALL THOSE "LACKING HOUSING" DEFINED AS SOMEONE WHO:
Does not hold rights to an apartment under construction
Has not rented an apartment that is under the Tenant Protection Law (key money) for the past six years
Has not owned an apartment or part of an apartment for the past six years
Is not an heir to housing units on estates, farming communities or community settlements HOW IT WORKS
The Israel Land Authority and Ministry of Construction and Housing markets new housing projects to developers for bids
Apartment plans and pricing are submitted and approved by the Ministry of Construction and Housing
Deadlines for project applications are published by the developers and construction companies
Online registration for each project is opened for a period of 28 days on the Government's website
NEXT UP AND FINALLY
The lucky winners are alerted
Winners are chosen via a computerized lottery Appointments are conducted by the scheduled and Ministry of Construction apartments selected and Housing
Contracts are signed Mazal tov! A "local resident" is defined as someone who has lived within the jurisdiction of the Location, Regional Authority for the last Location, Location ye3ars Benefits for Local Residents - OR- If you are interested in buying an apartment in your current locality, and have lived there for the past few years, you may be given a priority in o4ut of purchasing a home in that area. the last
y1e0ars from where the project will be built LIVING ON THE EDGE YOUR WISH IS GOVERNMENT THE GOVERNMENT ALSO ENCOURAGES RESIDENCE IN GRANTED! THE PERIPHERY REGIONS 60,000 NIS
Awarded to those As an incentive, to those buying in: grants will be awarded Dimona, Ofakim, to those purchasing Hatzor Haglilit, homes in those areas Yeruham, Migdal Haemek, Maalot, Tarshiha, Mitzpe Ramon, Nazareth, Nazareth Illit, Netivot, Arad, Grant amounts are Kiryat Shmona, and determined based on Sderot property value without development costs & 40,000 NIS
Awarded to those to Grants are awarded by those buying in: Eilat, Ashkelon, the banks after signing Harish, Afula, and the contract and Rikus obtaining a mortgage
Subject to change. Source: hon.co.il NOT ALL HOMES ARE CREATED EQUAL...OR ARE THEY? Actually, when it comes to Mechir Lamishtaken all new apartments must include:
FLOOR AND WALL TILES Your choice between:
different types
and at least HOUSE OF PANE different styles
Double glazed windows: aluminum double windows A minimal entrance Aluminum windows with built-in frameworks for lobby to the screens building
Window blinds in all openings except for the kitchen and bathrooms
A utility space in apartments of 3+ rooms YOU CAN COUNT ON IT Size of kitchen counters included in apartments with 3+ rooms:
meters
Made from either marble or Caesarstone and in a choice of at least three colors
Number of electric outlets in the kitchen:
phase electric current supply in apartments with three rooms or more NO FLIPPING OUT!
The minimum number of years you must wait to sell a home purchased through Mechir Lemishtaken are either:
While Machir Lemishtaken may seem like a great deal, it isn't intended to turn a quick profit
from the time of receiving permission to build (טופס 4) OR... from the day you in the lottery! ABOUT ISRATRANSFER LTD.
Israel's Most Trusted Currency Exchange Experts
Since 2008, and with over 6 billion shekels exchanged, IsraTransfer has helped thousands of clients save money on their international currency transfers to help pay for property purchases, fund business operating costs, pay for living expenses and more.
Fully licensed and regulated by the Israel Ministry of Finance, IsraTransfer also serves as the exclusive operator of the AACI Currency Exchange Program.
To learn more about IsraTransfer, visit us online now at isratransfer.com. [email protected] www.isratransfer.com
Israel: 074-701-8887 US: 212-444-9054
UK: 020-8819-9839 Canada: 647-724-4152
Exclusive Operators of the AACI Currency Exchange Program Licensed by the Israel Ministry of Finance, Currency Service Provider Unit, License Number 514135235