Choosing Your Apartment & Signing the Contract
Updated
The contractor will invite you to a winners' event where the project is presented, followed by your personal apartment selection.
What Happens on Apartment Selection Day?
The call order is determined by lottery results. You have 45 minutes to choose — and that choice cannot be changed afterwards, even if cancellations occur later. You may be required to pay a ILS 2,000 deposit on selection day, which is non-refundable if you cancel. Make sure you have a valid eligibility certificate with you on the day.
How Is the Contract Signed?
After choosing the apartment you have 30 business days to sign the purchase agreement. The contract has been reviewed by a monitoring company, but terms can still be negotiated. Payment is made in installments as detailed in the contract. You'll also sign a commitment letter prohibiting sale for 5 years from Form 4 or 7 years from the lottery — whichever comes first. Confirm your personal circumstances haven't changed since the lottery.
Bring a real-estate attorney. The contract is pre-approved but terms can be improved — an attorney knows where there is room to negotiate.