***Consultation*** Is it possible to get out of the price for the tenant? I recently met a family that bought an apartment in…

*** Consultation *** Is it possible to go out of price to the buyer? I recently met a family who bought an apartment in ...
***consultation***

Is it possible to go out of price to the buyer?
I recently met a family who bought an apartment at a price per occupant in Kfar Yona at 1.2 A similar apartment costs 1.7 there. Delivery another year and a half. They paid a little over a hundred thousand for the apartment and the rest in a mortgage… So far seemingly, everything is fine.
But apparently this deal is very big on them:
- They pay interest 2800 NIS every month (in addition to rent)
Linkage to the construction input index - The amount of the payment is not yet known
- They have no money to connect the apartment to the infrastructure
- The rent will be low because there is an excess supply
- The property tax will be high
In short, the quality of their sleep at night is not something… They are very worried and feel that the apartment "finishes" them (to say the least).
I suggested that they go to the Exceptions Committee to get permission to sell - it turns out that only if divorced is possible to sell - they do not want a divorce .

Do you have any ideas how should they act to get out of the blank?



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Responses

  1. To my knowledge, you can sell after 5 years from the date of winning, and not necessarily from the date of possession or purchase itself.
    And in light of the fact that in many cases, from the date of the win to the actual purchase (until the receipt of building permits for the contractor, etc.), two years pass, and more, sometimes….

  2. Could their concern be exaggerated? If I have learned something in this group that such matters require specific professionalism, then this first recommendation is to find an interest in Kfar Yona and to validate / calm some of the concerns.
    Until then,
    - Continue to live cheaply elsewhere and rent in Kfar Yona, when it is built.
    - Be the most attractive apartment offered. Attractive mortgage price (even if there is a small delta between the mortgage and the mortgage), good preparation of the apartment for rent.
    Incorporate an excellent mortgage advisor who will see how and if possible to extend and profit the monthly burden.
    - Understand that if they manage to survive two or three years and shrink, they have a great deal in hand, with an apartment for much less than the market price. Maybe it will help. Also requires a more comprehensive view of their lives in terms of income and expenses and lifestyle, in that I do not bet on anyone (but let him bet on himself if need be).

  3. I also have such a case. We are filing an administrative petition in the district court against the decision of the Ministry of Housing not to allow them to sell. We claim that the right to property in the State of Israel is a fundamental right and that the determination of a fine in the agreement, in contrast to the previous plan of a price per occupant which stated "that the apartment must not be sold", means that the apartment can be sold

  4. I would put in an investor who would put in more equity and reduce their returns, the equity investor deal after 5 years or the closest possible date to sell and separate, with excellent return plus principal repayment, there would be no cash flow to the investor and no repayment of the fund within the 5 years but only at the end.

  5. To repay the mortgage in a way that fits them better at this point.
    Until there is infrastructure, and once there is, they will move there on their own.
    Residential price apartments are not designed for renting them out for the owners to live in.