How to buying home a in Japan
Property Viewing
We strongly recommend you view the actual property. While some customers purchase properties without actually seeing them, we feel you will gain so much more information if you actually view the property rather than only check photos or Google Street View. It is also best to see up-close the condition of the building and get a feel for the surrounding environment.
Letter of Intent to Purchase
Once you have selected a property, the next step is to present a letter of intent to purchase the property. This document communicates to the owner your intentions. Typically, the property owner will begin the process of verifying the buyer’s information once the letter of intent is received.
Contract
After concluding the contract, the parties sign the sales contract and disclosure statement. The sales contract specifies the ownership transfer date and loan conditions. The disclosure statement provides detailed information about the property. On the date when both parties sign the contract, the buyer deposits earnest money with the property owner.
Mortgage Application
After filing a mortgage application, you will need to provide your personal information to the bank. You will be required to submit information detailing your income over the past three years, identification documents, information about other loans, as well as your seal registration certificate or signature certificate. We recommend you start assembling as much of this information as possible during the consultation stage.
Settlement & Ownership Transfer
Ownership of the property will be transferred when the you pay the remaining balance. A judicial scrivener will transfer ownership, and you will receive the property title in approximately two weeks.
Japan Residents ／ Individuals with Residence Status
■Certificate of Residence (Juminhyo)
■Residence Card/Special Permanent Resident Certificate
■Seal (Inkan) (Not required if no mortgage is procured)
■Seal Registration Certificate (Inkan-shomeisho)
■Identification documents (driver’s license, passport, etc.)
Non-Residents of Japan ／ Individuals without Residence Status
■Affidavit (Proof of address & signature)
■Identification documents (driver’s license, passport, etc.)
*An affidavit is a legal document that certifies the accuracy of a private document. The author takes an oath before a notary public that the information in the document is true and accurate.
When purchasing real estate in Japan, non-residents may be required to submit an affidavit to verify their current address and signature.
It is often the case that the affidavit will need to be authenticated by a notary public or by your home country's embassy or consulate in Japan.
To expedite your transaction, we recommend obtaining an affidavit before arriving in Japan. Since April 1, 2024, notary publics in your country of residence as well as your home country may authenticate affidavits. In addition to the affidavit, a certified copy of your passport will also be required.
Costs After Property Purchase
(1) Management Fees
(2) Repair Reserve Fund
(3) Parking (Some condominium properties do not charge for parking. Please confirm with us in advance whether there will be a parking fee.)
(4) Property Tax (Levied annually)
(5) Electricity, gas, and water charges are paid by the property user
(6) Please contact us in advance about any other recurring costs.
