<Consultation about purchasing a property>
- Are non-residents premitted to own / purchase a property in Japan?
- Yes, there are no regulations or restrictions for non-residents to own property in Japan. Question index
- Is it possible to get a loan from a bank in Japan?
- It is necessary to get permanent residency to make a loan from a megabank in Japan, but depending on the situation it is possible.
* Foreign banks could accept your request for loan in some cases. Please contact us for more information.
- What fees are required besides payment for a property?
- They can be roughly divided into taxes, sundry expenses, and other expenses.
Please refer to the following;
* Stamp Duty Fee
* Registration and License Tax
* Real Estate Acquisition Tax
* Real Estate Tax
* City Planning Tax etc.
* Brokerage Fee
* Secretarial Costs for Loan (In case of using a Bank Loan)
The above is estimated at 6 to 10 % of the purchase price.
* Moving Expenses (If you actually move into the property after purchase)
* Renovation Costa (eg: Change 2BR into a large 1BR)
* Purchase of Furniture and Electric Appliances
* House Cleaning Cost etc.Question index
- Is it possible to have you property information sent overseas?
- We would be delighted to send potential Property Listings and other materials by email in response to your request.Question index
- I am going to visit Japan to view potential properties. About how many days should I plan to stay?
- We recommend that you take 5 days in between the weekend. If there is a property of interest, you will be required to pay a deposit (usually 10% of the sale price) and to apply for purchase or sign a contract before you leave Japan.Question index
- I plan to visit Japan shortly. Is it possible to view a property?
- Yes, this is possible, but since some properties are still occupied by the owner, we would be grateful if you could tell us your schedule as early as possible to make arrangements.Question index
<Applying for purchase>
- How can I apply for purchase?
- Please indicate your intension of purchase to a vendor in writing, including asking price and conditions.
- How can I apply for a loan?
- If you choose to apply for a loan from a bank in Japan, you will be requested to submit a initial screening, followed by a final screening before you qualify for a loan. Please contact us for details in case you are considering applying the loan from a foreign bank.
<Real estate transaction contract>
- How do we proceed with the contract?
- Before signing the contract it is necessary to understand and agree on “Explanation of Important Matters” and “Sale and Purchase Agreement”.Question index
- How much is required upon signing the contract?
- The following is necessary;
* 10% of the sale price as a deposit
(This deposit will not be returned in the case the buyer decides not to proceed in the purchase)
* Stamp Duty for the contract agreement
(The fees depend on the sale price)
* Half the amount of the brokerage fee
(Brokerage fee = Property Price x 3% + 60,000 JPY + tax)
- What kind of documents are necessary when signing a contract?
- Identifying documents (Passport etc.). However, additional documents are necessary in some cases.
However, we would appreciate if you could ask us individually because additional documents are necessary in some cases.Question index
<Preparation for a handover of a property>
- Is there anything to do between the signing of the contract and the handover?
- We would like you to prepare for the final screening for the loan and start lease advertisement for the property. Some special documents may be required additionally for a real estate registration depending on your nationality.
- After the contract is signed, how long does it take for the handover to be complete?
- It generally takes 1 to 2 months, but it may differ according to the situation of the property (occupied by an owner or vacant), how it is purchased (using a housing loan or in cash) and so on.Question index
<The payment of remaining balance>
- When is the transfer of ownership completed?
- After the payment of remaining balance has been confirmed, registration formalities are undertaken thorough a judicial scrivener.Question index
<A handover of a property>
- How can I have walls repapered and a bathtub exchanged for a new one?
- We will introduce you an affiliated home remodeling company.Question index
- Do I have to apply for insurance, even though the property is for investment?
- You must take out property fire insurance even if you yourself do not dwell in the property.Question index
- What kind of taxes is necessary to acquire real estate?
- Real estate acquisition tax, registration and license tax, stamp duty and consumption tax.Question index
- What taxes apply to the retention of real estate?
- Real Estate Tax and city planning tax.Question index
- What taxes apply when selling property?
- Capital Gains Tax (if you profit from selling the property).
For Non-residents, a 10.21% deduction tax may also be required on the payment, depending on the situation. Please inquire for more information.Question index