We will take you through the real estate sales step-by-step from property valuation, sales and move.
This guide explains procedure of selling a property, type of mediation contract, necessary fees, documents and items.
Real Estate Sales Contract
When a buyer is found, you’ll receive an “offer to purchase” or “application form” from the real estate agent. This form will state the buyer’s desired price, schedule for signing the contract, payment method, desired hand-over schedule, and other conditions.
Once the seller and the buyer come to an agreement, a sales contract will be drafted stating the agreed selling price, payment method and other agreements.
The seller needs to notify the condition of the property when preparing the Real Estate Sales Contract. It is essential to report the present condition clearly and properly and have the buyer understand it fully in order to avoid any troubles throughout the transaction. It is required to hand-over the property in the condition that is reported to the buyer in the contract.
- Any leakage or damage caused by termites or the surrounding environment will be reported in “the Confirmation Note of Inspection of the Premise”.
- Any defects or malfunctions of the equipment included in the property such as the kitchen, bathroom, air conditioning, water heaters, etc. will be reported in “List of Facilities”.
When both the seller and the buyer sign and seal the Real Estate Sales contract and the buyer remits the downpayment to the seller, the contract is bind.
After the sales contact. If you violate the contract, penalties may occur.
Please check and clarify with the real estate agent if you have any questions.
Items needed for signing the sales contract
- Registration certificate
- Jitsuin Officially registered seal(If a foreigner doesn't have one, one can substitute with registered signature.)
- Original copy of seal registration certificate (issued within 3 months)
- Stamp Duty
- Photocopy of ID such as passport and driving license
- List of facilities
- Confirmation Note of Inspection of the Premise