Good luck with it! I hope it is ruled in your favor. I am sick of people in this country using all sorts of made up dollar values for real estate deals - particularly in the middle of a deal once they realise that they're losing money. It's time everything was done in Shekels.
It was a dollar linked purchase with a floor to the Representative rate at the rate at the time of purchase.
My money was in dollars and I put in the contract that I have the right to pay in dollars.
what they did is take my dollars and transfer them into shekels at the lowest rate and then re transfer them back to dollars at the higher rate (4.6 shekels) to the dollar to determine my payment. I call this Jewish math. The contract has no mention of this formula but does state that I have the right to pay the payments in dollars.
The apartment is right on the beach in Bat Yam and it is worth today much more than the original price even with the fussy math. I was shocked when they gave me the final payment. It came out to $35,000 dollars more than what was written in the contract.
Who knew in 2006 that the shekel would become such a strong currency and the dollar would fall so far.
So much for conventional wisdom. At the time of my purchase Bat Yam was considered a less desirable place to buy. I was told by many Israeli's that it isn't a good place to live. Today the there is a different attitude about Bat Yam.
I am taking Rosetta stone and they associate pictures with words, anyway I got stuck on two words, they showed pictures of what looked to be castles in different areas: the one being hamitzvar bamidbar and the other one was hatira. I know bamidbar is desert, but could someone define hamitzvar and hatira? Thanks for any help!