As local real estate professionals, we will help you mitigate the risk of your investment as well as providing you with the right knowledge to deal with all the legal and technical transactions that comes when buying property in Japan. If you find a property that you are interested in on our inventory, do not hesitate to contact us for property viewing or questions. Please inform us in advance of the property viewing as early as possible. Please note that we do not provide compensation for any costs during the buying process (including airfare).
Please come to our office at the appointed time. We will take you to the properties that you requested in advance. During the viewing process, we highly encourage you to carefully look into the conditions of the properties, such as any signs of damage, roof leaks, leaning or tilts, and crossing of property boundaries.
We also set online viewing if you want. This is also required to set appointment in advance.
Once you have decided to purchase a property after viewing, the next step is to submit a “Letter of Intent (LOI).” LOI is a non-binding letter that expresses your interest in purchasing, which also lays out the terms and conditions including your expected property price, payment procedure, etc. LOI can be submitted to us by hand, airmail, E-mail(PDF). Note that the seller will reserve the right to decline the LOI or break off the negotiation if an agreement cannot be reached regarding any of the conditions proposed by either party. Once agreed, contract preparations will begin.
Necessary Items: Passport (for I.D.)
When both parties reached an agreement to make a contract, we will prepare all the contract documents (written in Japanese only) and send them to you so that you can review the contract conditions in advance.
We or the designated broker will explain the terms and conditions of the contract in Japanese prior to the signing (This procedure is in accordance to limitation of Building Lots and Buildings Transaction Business Act). Please make sure to have the earnest money ready, and we will also ask you to pay stamp duty plus the first half of the agent commission during this meeting.
Governing Language
All documents related to the contract will be prepared in Japanese only, but our English speaking staff will be able to provide verbal translation if needed. If you need explanation in your mother tongue, please hire a translator to have the contract document translated (or provide you with a translated abstract) and/or reviewed on your behalf. We would recommend you to hire a solicitor/attorney as your translator/reviewer as they have expert knowledge in real estate transaction laws.
Earnest Money Deposit
Upon making a sale and purchase contract, we request all clients to make an earnest money deposit which is basically 10% of the purchase price. This is depend on what you and seller agreed each other. This deposit is a portion of the overall payment for the property, and will also act as a guarantee deposit for penalty that may be incurred.
The payment should be made in Japanese YEN via cash at the time you sign contract or via bank transfer by the morning of the contract-signing date. Please be advised that overseas transaction can take several days to be processed; we strongly encourage any payment be made well in advance to avoid any last minute complications. Bank transfer fees will be the responsibility of the buyer.
Before closing, we request payment of remaining balance. The payment must be made in lump-sum via cash at the our office or bank transfer in Japanese YEN by the morning of the closing date. At this time, we also ask the second half of agent commission be paid, as well as the settlement money for Fixed Asset Tax. Learn about all costs and taxes.
To close the transaction, please come to our office for closing meeting. If you cannot come in person on the closing date, you may need to prepare more documents in advance (please consult with our staff).
At the meeting, we will begin by confirming your payment and issuing a receipt followed by going through all the documents on property title transfer and handling over of keys. Your real estate solicitor or attorney needs to be presented during the closing meeting, as well as to register the title transfer at the Legal Affairs Bureau immediately after this meeting.
Solicitor/Attorney
In Japan, solicitor/attorneys handle legal process regarding real estate transactions, such as certificate preparation and title transfer. We can introduce solicitors/attorneys who conduct business in English. Other solicitors and attorney welcome but he/she must be a Japanese native and possess the necessary skills and knowledge in real estate transaction with foreign clients.
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