Purchasing Process

​①Inquiry

 

Please send us inquiry via contact form, mail, or phone.

 

Let us know the property you are interested in, and if it is not in the property listings, please send us your requiring conditions. We will search through thousands of property information on market.

After finding interested property, please arrange for property viewing. Make sure to appoint property viewing several days ahead. Vacant house can be arranged quickly, but in most cases, occupied house needs several days to arrange for viewing.

※There will be a possibility of property to be sold before your visit. Please understand that we cannot guarantee for any expenses incurred (such as transportation fee).

​②Property Viewing

 

Please let us know a convenient meeting place and number of people coming to the viewing. We will prepare a car in advance. A salesperson and interpreter will guide you through all the properties you are interested in.

Please make sure to arrive at the meeting place on time. Some properties have appointment with seller and other agent so we cannot be late. 

We understand that for some of you, coming to Japan several times will be difficult. In that case, please consult in advance. We are willing to find solution for every clients. 

③Purchase

Application

 

After deciding the property to purchase, please turn in "Purchase Application Form (Letter of Intent)". This is a document to express your interest to the seller.

We will prepare the document for you to fill out your offering price, contract date, closing date, and other conditions. For foreigners living outside of Japan, please note that we accept cash ONLY as paying method. Japanese bank has strict conditions for foreigner receiving loan/mortgage in Japan. If you do not live or work in Japan, you will most likely not be able to receive a loan/mortgage.

Please make sure that you have visited the property at least once before turning in the document. We ask you to look carefully through the house or apartment to check for any damages. Also, please ask for all the information about the property before moving on to the application form. "Purchase Application Form" is ONLY to be turned in after you have agreed to the current condition of the real estate.

The document will be submitted to the seller, who has the right to accept or decline the negotiation if the agreement cannot be reached.

④Contract

Signing

Contract signing will occur once both parties agreed to the conditions of transaction. It will take place either in seller's agent or our office. 

At the contract signing, a Real Estate Transaction Specialist (with license) will explain the "Contract Document" and "Important Matters Document", which is prepared in Japanese ONLY. Please hire an interpreter or have a Japanese speaking acquaintance to attend. We can help you with arranging professional interpreter if you need one. (Interpreter fee will be the responsibility of the purchaser)

※Even though we have an English speaking staff, they will not interpret during contract signing. We ask for third party to interpret so act of injustice can be prevented.

After reading through all documents, both parties will sign or affix a seal to prove that they have agreed to all conditions of transaction.

At this timing, deposit (10% of real estate price) will be handed over from the purchaser to the seller. This will become an insurance and penalty fee for any violation to be incurred. If the purchaser decides to quite the transaction for personal reasons, the deposit will not be returned. If the seller decides to quite the transaction for personal reasons, the deposit will be returned to the purchaser and the same amount of fee will be paid from the seller to the purchaser. 

If you cannot attend contract signing, it is possible to arrange an attorney. There will be additional documents to prepare in this case. Please contact us for details.

Click to find out all requiring items and fees→here

⑤Closing

(Property Handover)

Please make sure that all remaining fees are bank transferred or prepared in cash, few days before the closing date. We ask this since penalty will occur if you cannot prepare the fees, and in the worst case, the transaction will be cancelled. If you are bank transferring the fees, please keep in mind that transfer can take from few days to weeks.  (Transferring fee will be the responsibility of the purchaser)

Closing usually takes place about 2 to 3 weeks after contract signing. During this time, judicial scrivener (legal professionals) will prepare for registering ownership (property title) transfer.

Paying remaining fees, signing insurance and registration documents will take place at the closing meeting. After all process is finished, the keys will be handed from the seller to the purchaser. 

If you cannot attend closing meeting, it is possible to arrange an attorney. In this case, judicial scrivener will have to meet with you at least once before closing meeting. If you are purchasing the property by joint name, the judicial scrivener will have to meet with every single person. This will be needed to confirm identity, that the person is the person. Also, there will be additional documents to prepare in this case. Please contact us for details.

The closing meeting will take place in weekday morning. After the meeting, the judicial scrivener will run to the Legal Affairs Bureau to apply for registration. The ownership of the property will belong to you from the closing date.

Click to find out all requiring items and fees→here

⑥After Purchase

The judicial scrivener office will send you notification of real estate acquisition tax. It will be delivered after 3 to 6 months of closing meeting. If you have applied for fire (earthquake) insurance, the insurance company will be sending you document as well. This should arrive within weeks after closing meeting.

We will help you set up utilities for your new house/apartment. The bills can be paid at convenience store or with credit card. This will be a monthly payment so if you cannot visit Japan every month, we recommend you to register credit card payment.

Fees needed to be paid after purchasing.

-Real Estate Tax (annual)

-Neighborhood Association Fee (monthly)

-Management & Maintenance Fee (for apartment only, monthly)

-Others (depending on the property)

If you need help with managing your house/apartment while you are out of Japan, please consult in advance. Please note that management fees will occur, and it will differ depending on the size and location of the house/apartment.

Real Estate Agency Insight House Co., Ltd.

Tel: +81-75-501-5100

Fax: +81-75-501-5120

Email: realestate-insight@ie9000.jp

Address:

Racto C-1F, 92 Takehana Takenokaidocho, 

Yamashina-ku, Kyoto-shi, Kyoto-fu

© 2017 Insight House Co., Ltd. All Rights Reserved.