Important Description & Sales Contract
Now you make an official sales agreement with your real estate agent.
Things to bring to the meeting would be:
- Revenue Stamp for sales contract
- Brokerage Fee (Half)
Every transaction may differ so make sure with your agent.
Firstly you will be explained what’s called “Important Description”.
In this explanation, there are important matters such as relations of rights and regulations stated, try to understand well before you move on.
Things to check would be:
・Parking lot, bicycle parking lot, motorcycle parking lot
・Property management fee, repair reserve fee and its possible price raise
・What purchase price actually includes. Stuff like furniture and other equipment
・Relations of private roads
・Any violations of the Building Standard Act
・Length of warranty against defects
・Seller’s usage part of the building
Next you sign and stamp on “Real Estate Sales Contract” and pay the deposit to finish off the deal.
You may see the same template for the contract. After signing, if you wanted to cancel the contract for your own convenience, you would lose the deposit as well as the brokerage fee.
- Sale by Private Contract & Sale by Auction
- Price Limit Order
- Settlement & Ownership Transfer
- Ways to Search for Properties
- Documents & Points to check
- Ways to find legit real estate agents, narrow them down, and become their favorite customer
- Gross Yield & Net Yield
- Letter of Intent
- Important Description & Sales Contract