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General flow of real estate transaction in Japan ( in the case of non resident of Japan )

General flow of real estate transaction in Japan ( in the case of non resident of Japan )

Contacting with Real Estate Companies in Japan

This is flow of real estate transaction in Japan. If persons ( they are non resident of Japan ) hope to purchase real estates in Japan, they tend to look for suitable real estate via internet. However I believe it is not effective. If a real estate is excellent, real estate broker will not show it in ordinary website. So, you need to contact with a real estate company by telephone or email. So, you or I contact with real estate company in Japan via email or telephone and collect some information of real estate and find some real estates. ( assumed 1st March ). And when you want to look at the real estate on the site, you will come to Japan ( 5th March ). If they have decided to purchase it ( 7th, March. Other persons may be also interested in the real estate. So, quick action is inevitable.  ), they will notify their real estate company and the real estate company fix specific date where seller and purchaser enter into contract paper ( March 17th ). On 17th, March, purchasers will pay deposit ( 10% of purchase price ) to seller. 20th, March, purchaser will deposit his/her money to bank account of real estate company prior to settlement date. 31th, March ( settlement date ), when I have received necessary documents to file ownership transfer, real estate company will send balance money to seller’s bank account and I will file registration. After I have filed registration of ownership transfer for purchaser, it will take one or two weeks to complete registration process. During that days, officer of legal affairs bureau inspects the application paper. When registration process has been completed, I will send title deed to purchaser. When you hope to decrease the number of coming to Japan, I can act as your proxy in Japan and sign contract paper on your behalf. Actually I sometimes act as agent of buyer of real estate. So, once you have decided to purchase a specific real estate, I can complete real estate transaction without your presence in Japan.

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