Useful Information for purchase a property.
Process for buying Property
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Finances plan for buying a property. |
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You need to thinking about the finances required for buying a property. In particular, you will need to pay for other items apart from the property for example stamp duty, agent’s fees and taxes. Usually, allow for 6 to 8% of the purchase price for these additional expenses.
When a foreigner buys a property, there are some further requirements such as: registered seal. |
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Finding a property |
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Looking for a property Please search the properties for sale at Relocation.com bearing in mind your requirements for a property. (Search pages :Apartment & House, Holiday homes, Land ) You can inquire about a property by completing the inquiry form on our home page or you can send us an email, fax or telephone us. We apologies in the event that the property you are interested in has an application pending, or is already taken. Our members’ sales staffs are also able to introduce you to other properties that satisfy your needs. The more specific you are in outlining your requirements; the easier it will be for us to find the perfect home for you. |
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Consulting and on-site tour When you find some properties that you are interested in, we will take you for an inspection. It is important to not only check the rooms and the building but also the peripheral environment of the property. We recommend that you inspect the property during the day and at night. |
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Make an application to purchase. |
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When you decide to buy a property, you need to complete a Purchase Application form. This is also called a ‘purchase order certification’. Your agent submits your application to the vendor. |
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Entering into the contract. |
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Our Licensed Broker will provide the “Explanation of Important Matters” prior to the execution of contract by both parties. 2. Seal or Signature 3. Copy of document verifying purchaser’s identification (such as driver's license, passport, certificate of alien registration, health insurance card and registered proof of signature) 4. Payment of Stamp Duty (stamp to be put on the contract) 5. Payment of half of the purchaser’s agent’s commission. |
| Obtaining a loan For the loan application, you will need a copy of the sales contract after it has been concluded. It takes approximately between one to three weeks for a bank to approve a housing loan. In the event that the housing loan is not approved by the date specified in the contract (see Loan Clause), you can terminate the contract without penalty. We strongly recommend that you check that you are able to obtain finance from your bank before you enter the into the contract. Requirements for applying for a housing loan if the purchaser is a company: 1. Copy of registered certificate of incorporation;2. Copy of registered seal; 3. Seal; 4. Tax Return (for three years); 5. Payment of taxes certificate for three years (pages 1 and 2 of the certificate); and 6. Copy of the sales contract. Requirements for applying a housing loan if the purchaser is an individual: 1. Copy of document verifying purchaser’s identification (such as driver's license, passport, certificate of alien registration, or health insurance card); 2. Copy of registered proof of signature or seal; 3. Seal or signature; 4. Annual income statement; and 5. Copy of the sales contract. |
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Settlement. |
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We will arrange the settlement date with the vendor. On settlement the balance of the purchase price needs to be paid and the property is ‘delivered’ to the purchaser.Requirements for settlement.
1. Remaining balance of purchase price; 2. Seal or Signature; 3. When a mortgage has been obtained, a copy of the Certificate of registered seal which is less than three months old; 4. Certificate of residence or certificate of alien registration; 5. Certificate of qualification of judicial scrivener (the person who actually attends the Legal Services Bureau to transfer the title); 6. Payment of Annual Fixed Property Tax / Annual City Planning Tax (the tax burden is on the vendor prior to completion and on the purchaser after completion). 7. Payment of Annual Real Estate Acquisition Tax; 8. Payment of Maintenance Fee and the Building Repair Fund (in case of an apartment condominium, the obligation to pay is on the vendor prior to completion, and on the purchaser after completion); 9. Evidence of property insurance 10. Payment of Registration Fee （which includes property registration and license tax + Judicial scrivener fees）; 11. Payment of loan fees (loan fees typically include a loan processing fee, a loan guarantee fee, and other fees). |
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Moving |
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When you decide the date you want to move in, you need to change the billing address for all utilities such as electricity, water, gas, telephone service and others. You need to change these details before you move in. Once you have moved, you and your family need to notify your change of address to your local ward office and have that change noted on your alien registration card. You will also need to notify your change of address to other authorities, for example, the police can change the address on your driver’s license. If the property requires renovation before you move in, we can arrange the renovation at your request. |
