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Buying Japanese Property from Overseas

Poste date: Friday, August 12, 2022

For foreigners wanting to purchase real estate property in Japan–but do not live in Japan–it can be very difficult to deal with the various procedures required to purchase property within the period of their stay in Japan. Such procedures include the previewing of properties (houses), applying for the purchase, negotiating the terms and conditions, obtaining the necessary documents, arranging the purchase funds, concluding the contract, and payment for the purchase. In order to complete these necessary procedures in a short period of time, it is necessary to make in-depth meetings and arrange a detailed schedule to follow with a real estate broker.

Here, we will cover how you can purchase real estate in Japan without needing to come to Japan or stay in Japan. These methods include online communications, property viewings by use of property videos, VR, online tour and proxy services for various procedures.

※The following is a guide intended for customers who do not need to use a housing loan when purchasing property. If you need to take out a housing loan in Japan, you may need to meet/contact with a financial institution to apply for a loan in person.

Youtube Video : Buying Japanese Property from Overseas

This video will explain how to buy properties in Japan from overseas. Even if you do not live in Japan or cannot come to sign a contract or for closing, you can still buy Japanese real estate. In this video, you will learn about purchase process, investment loans, maintenance & management, rent out, as well as tax filing. 

1. Online Consultation about the Purchase of Real Estate Property

We carefully listen to your requests and provide you with the most appropriate property information that meet your requests via email. When you have any questions about purchasing a property, we can assist you online by using Skype, Teams, Zoom, etc.

2. Previewing of the Property (via Video, Online tour)

Property viewing via video

We take hi-res photos, videos of properties you are interested in allowing you to view as if you were there.

※Our ability to take photos images and Online tour is subject to approval by the seller of a property.

Remote live property viewing (online)

In addition, we can provide live viewings of properties online on the date and at the time specified by customers via Skype, Teams, Zoom, etc.

3. To delegate authority of a purchase to an attorney-in-fact

When a real estate property that you are purchasing is located far away or you are not able to attend the conclusion of the contract due to unavoidable reasons such as your work or hospitalization, you can appoint an attorney-in-fact and delegate the contract procedures to the attorney-in-fact on your behalf.

Documents necessary for delegation:

  • ・Power of attorney for purchase*
  • ・Identification documents (passport)
  • ・Affidavit* (Required for Registration of ownership transfer/Registration of Preservation of Ownership at the time of purchase of real estate.)

※The format of Affidavit and Power of attorney for purchase can be made by a Judicial Scrivener designated by our company. Certification is required for them at a local embassy, consular office, notary office, etc. In regards to certification bodies, everything goes smoothly if you have the judicial scrivener confirmed in advance. Although certification of power of attorney for purchasing property is not required by law, we suggest getting the certification to facilitate the transaction.

If you would like to appoint an attorney-in-fact, PLAZA HOMES can introduce you to a judicial scrivener experienced in real estate transactions. If you can prepare the documents necessary for the above delegation and we can confirm your personal identification via video chat, it is basically possible to delegate authority. Please note that a separate fee is required for delegating a real estate purchase to an attorney-in-fact.

4. Sales and Purchase Contract for Real Estate purchase signed by an Attorney-in-fact

An attorney-in-fact concludes Sales and Purchase Contract for Real Estate on behalf of a buyer.

※Prior to the conclusion of the contract, we will explain to both the buyer and attorney-in-fact about the contract, the important matters, etc. so that the both parties can fully understand the entire contents of the contract.

About the payment of the Sales Value

PLAZA HOMES, LTD. provides a trust account under the name of PLAZA HOMES, LTD. as the bank account in Japan to which the funds for real estate transactions are transferred for deposit. Using a trust account—to transfer money in advance—can reduce risks resulting in money loss, help avoid any late payment, and facilitate payment during the period from the conclusion of a contract to the payment of the sales value.

In real estate transactions in Japan, a buyer usually pays earnest money to a seller at the same time as the conclusion of Sales and Purchase Contract. In accordance with the timing of this earnest money payment, we pay the same amount of the fund deposited in our trust account (as a part of the sales value) to the seller's bank account by bank transfer. For depositing the fund in our trust account, it may take three days to 1 week depending on the country and region. In order for the transaction to proceed smoothly and as scheduled, we highly recommend that you transfer the funds to Japan well enough in advance.

As Reference: Funds Remittance for a Real Estate Purchase (From Overseas to Japan)

5. To complete payment by an attorney-in-fact

An attorney-in-fact makes payment on behalf of the buyer.

The balance of the sales value is paid at the time of payment specified in the contract and the transaction is completed.

Like the payment of the earnest money, we at PLAZA HOMES pay the balance amount of the fund deposited in our trust account to the seller's bank account by bank transfer. Similarly, we also pay various expenses (registration fee, brokerage fee, revenue stamp fee, trust account fee, etc.) to each party concerned from the same trust account.

6. Registration of ownership transfer

A judicial scrivener completes the registration procedures for the real estate in the name of a buyer. In this case a certified affidavit is required as proof of the buyer’s address and name. In addition, power of attorney and evidence for cause of registration are required for the registration, which are prepared by a judicial scrivener. The originals of all these documents are required by the time of completion of all the payment.

Apartments & Houses for Sale in Tokyo
Listings of apartments, condominiums, and houses available for purchase in Tokyo.
Exterior of Park Court Azabujuban Mita Garden
Sale Property tag
Park Court Azabujuban Mita Garden

A nine-story condominium formerly owned by Mitsui Fudosan Residential and others, constructed by Taisei Corporation, completed in May 2010. The neighborhood is surrounded by detached houses and old-fashioned private stores, and is located in a corner of downtown Azabu Juban where you can feel the atmosphere of the old downtown. Located on the south side of the tower building on the same site, all units face south and there is little traffic on the front road. Good lighting and air circulation due to the corner lot. 3 minute walk from Azabu-juban Station on the Tokyo Metro Namboku Line/Oedo Line (Exit 3).

JPY 188,000,000

Exterior of Diana Court Syoto
Sale Property tag
Diana Court Syoto

JPY 104,800,000

Exterior of City Tower Azabu-juban
Sale Property tag
City Tower Azabu-juban

City Tower Azabu Juban, a high-rise tower residence. Symbolic tower condominium in Azabu Juban, 4-minute walk to Azabu Juban Station, in the highly promising Minato Mita district, which is undergoing redevelopment. Formerly sold by Sumitomo Fudosan, constructed by a joint venture between Shimizu and Okumura Construction. Within a 15-minute drive to Shinjuku, Otemachi, and Shinagawa. The building has a seismic damping structure that reduces shaking during earthquakes.　A guest room, a top lounge with an atrium, a car porch entrance, a concierge service, 24-hour manned management, and other common facilities as well as the latest security are attractive.

JPY 169,500,000

Exterior of Minami-aoyama Masters House
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Minami-aoyama Masters House

A large size luxurious condominium with 9 story and 177 residence units located in Minami-Aoyama 4 chome along Gaien-Nishi Dori Street. Sold by: Sumitomo Realty & Development Co., Ltd., Marubeni Corporation,Sumitomo Corporation. Constructed by: Taisei　Corporation. The nearest station is Gaienmae and also within walk access to Nogizaka, Omotesando, and Aoyama-itchome available for multiple lines. The location is facing the Aoyama Cemetery across the street, which is famous for cherry blooming and has vast extent of land with lush greenery. Matching such calm and quiet neighborhood, white and grey base colored appearance of the building is refined and impressive. The residence units are 1K to 3LDK available for wide range of life styles from singles and families. Up-dated room equipment and a concierge service by the front desk support everyday life of the residents. The security systems are fully applied including manned management, 24hours security system, and security cameras. All the facilities and equipment are considered for life with safety and comfort, matching the calm and quiet house environment in Minami-Aoyama.

JPY 155,000,000

Exterior of The Parkhouse Motoazabu
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The Parkhouse Motoazabu

The property is located on a hilltop in Motoazabu. It is one of the Park House brand's properties developed by Mitsubishi Estate. It is 8-story apartment building where is located in Motoazabu, an attractive area with a quiet and peaceful environment. The area is rich in international atmosphere with many Embassy from Lithuania, China, Austria, etc., and many schools such as Sacred Heart School and Nishimachi International School. Roppongi Hills and Azabu Juban are within walking distance, making it convenient for shopping and dining. On the way to Hiroo Station, there is a National Azabu Supermarket where you can buy food from all over the world. The low-rise exterior of the building blends in beautifully with the surrounding area, and the space leading to the entrance and the common areas have a high quality design. There are three elevators for privacy.

JPY 188,000,000

Exterior of Tokyo Twin Parks
Sale Property tag
Tokyo Twin Parks

It is a 47 floor luxurious twin tower condominium with a right-wing and a left-wing building located in front of Hamarikyu Gardens and a 2 min.walk from Shiodome Station. The common use facilities which were designed for luxurious hotel image include an entrance, lobby, front desk service, various lounges, a guest room, and a fitness room. The up-dated room equipment support everyday life of the residents. Ocean views from the Eastside units include Odaiba, Rainbow Bridge, and Tokyo Bay, and City views from the Westside units include Tokyo Tower and Cityscape of Tokyo, which adds color to the living space. The area is located in one of the Tokyo's most active commercial and business districts of Shinbashi and Shiodome, and is surrounded by many restaurants and shopping places. Good transportation access and convenience for life make your high class urban life enjoyable.

JPY 148,000,000 - 233,000,000

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