Processes for purchasing properties sold through brokerages

Conduct a property search
Search for properties that fit your criteria and make a shortlist.

View properties of interest
Conduct in-person viewings or similar for the properties that fit you best.

Seek advice and  assistance from a real estate broker (entering into a mediation contract)
The purchaser enters into a mediation contract that indicates the property to be purchased, the content of brokerage service, the amount of brokerage commission, etc.

Make a financial plan
Consider your options for purchasing the property and whether you need a loan. Foreign buyers are subject to different terms regarding loans. It is also important to make yourself aware of the taxes applicable to your purchase before finalising your financial plan.

Make an offer
The purchaser makes an offer to purchase the property through a real estate broker. The offer is generally made in writing.

Explanation of important matters
The purchaser receives explanations of important matters regarding the property from a licensed real estate transaction manager of the real estate company before entering into the sales contract.

Entering into a sales contract
Upon an official decision to purchase the property, the purchaser enters into a sales contract with the vendor. An application deposit (contract deposit) of 10 to 20 percent of the property price, in general, will be required for this.

Delivery of the real estate property
After the property is prepared for delivery, it is handed over by the vendor on payment of the remaining amount of the purchase price. Real estate registration procedures are then carried out.

The upper limit of commissions for sales contracts is 3% of the sales price + ¥60,000 + tax (10%), only for the case that the property price is more than ¥4,000,000.