As there is nobody attempted to bid, the court decided to change the auction procedure (whereas the bidding be held in a period of one week, and within that period the bidder with the highest bidding price will win the auction) and implemented a special auction sale bidding procedure (whereas the first bidder who can successfully bid on this auction within a week should be proclaimed winner)
Special Auction Sale Bidding Duration: September 14, 2009 until October 2, 2009
Case number: Year 2008(ケ) No. 397
Standard Selling Price: 3million 9hundred thousand yen (JPY 3,900,000)
Forward Purchase Possible Selling Price: 3million 136thousand yen (JPY 3,136,000)
Nearest station from the foreclosed property : Tobu Tojo Line, Shiki Station, 2.4 kilometers.
The property is situated 0.35 kilometers from Mizutani Higashi bus stop.Other train station near the property is the Yanasegawa station (1.77 km) of the Tobu Tojo Line.
In this case, there are 3 real state properties involved which are indicated as follows:
1.Fujimi City, Mizutani Higashi 3chome 3360-31
Propety Land area: 49.7 square meters
2. Fujimi City, Mizutani Higashi 3chome 3360-29
Property Land area: 14,54 square meters
3. Fujimi City, Mizutani Higashi 3chome 3360-31
Room floor area/space: First floor 37.26 square meters
Second floor 22.35 square meters
Date constructed: 1965
Court investigation revealed that there is a tenant on this property and the monthly rental fee is 70,000yen.
As the property is too old, damages were evident and it has extremely deteriorated. Also, the place receives poor sunlight as it is surrounded by houses.
Winning bidding price is 3million 136 thousand yen (JPY 3,136,000)
70,000 JPY x 12 / 3,136,000 JPY x 100 = 26%
Basically, the property is located in a quiet place yet tenants who are searching a place to live may find it inconvenient as the property is located far from the station. It maybe difficult to find a succeeding tenant once they get out of the property. However, it would become a good investment if the current tenant would not quit and continue on leasing out the property.
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