Contracted to real estate limbo (or, Tzur Hadassah homeowner!)

As of a two-hour meeting in the Bursa district of Tel Aviv today, we are now contracted to become the owners of our Tzur Hadassah apartment!

That’s a convoluted way of saying something even more convoluted: We’ve signed and are waiting for the banks to finish their end of the deal before I can comfortably say I’m a homeowner in Israel.

Here in Israel, you sign a contract between buyer and seller first, and then finalize the mortgage with the bank, after which the bank deals with the seller’s bank and pushes the money through, after which you can then breath easy, stop paying rent, and then start breathing difficultly again when you realize you have a twenty year mortgage to pay.

So we’re in ‘contractual limbo’ – we signed our contract proving intent to buy the Tzur Hadassah apartment we’ve lived in for the last three years. Nearly, nearly rightful owners.

The fun part? It’s all due to come through the week I’m due to come through. Stay tuned…






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