Living as a foreigner on the other side of the world is not always troublesome. Japan is the best country to live your life in. Whether you are a businessman or a regular salary man, you can buy a property in Japan. Unlike some countries in Asia, in Japan, a foreigner has the same option and right to buy a home. But, you’ll find a home buying process difference for you compared to Japanese. In this article, I’ll show you how a foreigner can buy a property in Japan. Read on.
Choose Your Desired Home
Make sure you know what you want from a house in Japan. The geographical factors in Japan are different in the US or Canada. That’s why you should know what type of home you want to buy. If you have already decided which home to buy, you can go ahead and talk to the real-estate company. Do your first inspection at the home you chose earlier. Find out its accommodation. You can also calculate how long it takes for you to walk to the nearest station and go to your office. After you decide which home to buy, you can sign a contract with a real estate company. Usually, it’s just an intermediary contract that will help you buy the property on your behalf.
Hire a Multi-Language and Professional Real-Estate Company
Since you live in a foreign country, you may not be familiar with all the buying procedures. But, with the help of the right real estate company, your life will be much easier.
That’s why you need to hire a professional real estate company. It will also be the icing on the cake to get a multi-language real-estate company. These kinds of companies usually have professional experience in working with foreign homebuyers. You should expect that real estate in Japan needs complex Japanese documents and any other technical knowledge. So, learn Japanese now or hire a multi-language real estate company for you.
Apply for a Mortgage as a Permanent Resident
One thing to note here is that you need to be a permanent resident first. If you are a permanent resident, you can buy a home and even apply for a mortgage. However, you can only apply for a mortgage for foreigners. As usual, the bank or the lender will analyze if you are qualified for a mortgage. So, prepare all the necessary documents with you. You also need to make sure that you have a steady income. If they accept your mortgage application, you can pay for your intermediary contract fee, the down payment, the taxes, and the insurances.
Get a Contract of Sale
In Japan, you can’t just sign a contract. But, you need to seal the agreement. That’s why you need to get the contract earlier. Moreover, a contract of sale is a legal document for the property ownership transferring process.
There are several documents that you need to prepare. These include a registered legal seal, seal registration certificate, document showing your address, and passport. You also need to be careful when reading some other documents that the real-estate company provides.
Those are some excellent tips that you need to keep in mind when you decide to buy a home in Japan. Whether it’s your first time or not, make sure you follow these tips so you won’t get any trouble dealing with one of the essential financial decisions in your life. All in all, you need to be wise and educated. So, learn Japanese as much as you can.
