If you aren't fluent with the Japanese legal system, it may be hard to imagine what you should expect from the property purchase and property rights registration procedures in Japan. Sure, you might be doing some research, but we prepared a detailed explanation to make everything clear.
First, you have to find the property you would like to purchase. There are plenty of ways to search for it from overseas, but a skillful real estate agent's assistance will rise your chances to come across a property perfectly matching your demands. Japanese real estate agency will provide you with up to date information considering the property and also it will guide you throughout the whole legal procedures minimizing your risks.
Possibly it wouldn't differ greatly from property purchase flow in your own country, but some extra expenses such as moving or cleaning fee may cost you additional sum up to 10% of the property price. Though, you may ask the agent to prepare a summarized estimate for the whole charges to make it easier for you to manage your total budget.
So, when you decided with the desirable property location and estimated value, and the real estate agent helped you to choose the property you found attractive, it's time to see the property with your own eyes. And that would be your second step, which will require visiting Japan. If you will be satisfied with what you've seen, you will move to the next stage.
When you are ready for the purchase, you will fill in some necessary documents and then the real estate agent will guide the sale procedure between you and the property seller.
Here starts the legal matter. You and the seller would need to discuss all the deal conditions and as soon as you agree on everything, the real estate agent will provide you with the updated contract details, explanation of your rights as an owner, legal specifics and all the other key information. Then you will sign the sales and purchase agreement and pay some necessary expences including the deposit, brokerage fee and the revenue stamp fee. We will explain more about this exact step in our further posts so please stay tuned.
When the fees are paid and the contract is signed, you move further. The last step will require transferring the remaining property cost to the seller and owner rights registration. No matter if you are fluent in Japanese or can't boast high level speaking skills, it is reasonable to entrust this procedure to some experienced professional to guarantee that all your legal papers are composed and registered properly.
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