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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 Osaki West City Towers
Sale Property tag
Osaki West City Towers

39 story twin tower luxurious condominiums are landmark buildings. Direct connection to the station by a pedestrian deck helps easy transportation access to various areas in Tokyo, and also makes the residents comfortable for commuting in rainy days. The surrounding area is redeveloped well with complex facilities of commerce, business, and residence, inviting many restaurants, supermarkets, and stores as well as arranging many spaces of greens. In the West Entrance hall with glass wall and open ceiling a guest lounge space is arranged. The common use facilities in the two buildings such as Sky lounge, Party Room, Theater Room, Guest Room are available by coming and going through the passage connecting the buildings. High grade room equipment, the updated building security including 24 hours manned management, hotel-like front desk services all support comfortable and peaceful quality life in a tower condominium.

JPY 312,000,000

Exterior of Park Tower Shibakoen
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Park Tower Shibakoen

Park Tower Shiba Koen was constructed in December 2012 by Shimizu Corporation and formerly developed by Mitsui Fudosan Residential, and is built to new earthquake resistance standards. It is a 4-minute walk from Shibakoen Station on the Toei Mita Line and a 4-minute walk from Akabanebashi Station on the Toei Oedo Line. The building is a 24-storey reinforced concrete, partly steel-framed structure with a total of 98 units and is equipped with an auto-lock system and security cameras. The building has a hotel-like internal corridor design, with a highly private approach from the lift to each unit. The building is within easy reach of Azabu Juban and Tokyo Tower in the heart of Minato Ward, as well as the large-scale commercial complex Azabudai Hills and the Tokyo Bay areas of Hamamatsucho and Shibaura, which are undergoing redevelopment.

JPY 323,000,000

Exterior of Glarsa Tokyo East
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Glarsa Tokyo East

Glarsa Tokyo East is located within an 18-minute walk to Tokyo Station, and within a 10-minute walk to Hatchobori Station on the JR Keiyo Line/ Tokyo Metro Hibiya Line and Kayabacho Station on the Tokyo Metro Tozai Line/Hibiya Line, which are the nearest stations to the building. From there, it is only 3 minutes directly to Otemachi Station, the center of business, 6 minutes directly to Ginza Station, a shopping town, and 10 minutes directly to Kasumigaseki Station, lined with government offices. The location is popular among office workers with high incomes who live alone and have no shortage of food, clothing, and shelter. In addition to the 24-hour surveillance system, the common areas are equipped with security cameras, auto locks, and dimple keys to ensure the safety of women living alone.

JPY 28,000,000

Exterior of Eclair Nogizaka
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Eclair Nogizaka

Eclair Nogizaka is a six-story condominium completed in February 1982 with a total of 27 units. The building has a modern exterior with a calm atmosphere based on beige tones. Nogi Shrine is nearby, providing a natural living environment. Security features include auto-locks and security cameras, so you can live in peace. The property is a 2-minute walk from Nogizaka Station on the Tokyo Metro Chiyoda Line, making it very convenient for commuting to work or school or going out by train.

JPY 398,000,000

Exterior of City Towers Toyosu the Twin
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City Towers Toyosu the Twin

48 story twin tower luxury apartment located within 4 min walk of Toyosu Station. It consists of the south tower and the north tower having 1063 total units. The black-toned and gｌass-walled appearance design is eye-catching and making it as an area’s landmark. Various city functions such as to live, work, play, and study coexist in the area having good city environment based on the city planning to include seaside and lush greenery. 3 gardens around the building to enjoy seasonal plants and flowers and the grand lobby with a refined design and large space revoke a luxury resort hotel. It comes with various front desk services, abundant shared facilities, and the 5-staged solid security management to support and protect comfortable everyday life of the residents. The dwelling units offer 1LDK to 3LDK for covering various life styles of the residents. A line of the latest and functional room equipment is provided for high quality city life.

JPY 137,880,000 - 194,800,000

Exterior of Kakinokizaka 3-chome House
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Kakinokizaka 3-chome House

-Large property with a total floor area of over 300m2 -Can be used as a two-family house -Has a courtyard with excellent ventilation and lighting -Unique design incorporating a lot of wood

JPY350,000,000

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