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Lot property in Hidaka City

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Bidding Duration: October 1, 2009 to October 8, 2009
(Monthly rental fee = 60,000 JPY) x 12 / 2,610,000 JPY estimated winning bid amount) x 100 = 27%
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Nearest station from the foreclosed property:
Musashi Takahagi station of the JR Kawagoe line - 1.57 Kilometers.
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PROPERTY DETAILS:
Standard Clearance price: JPY 2,100,000
Category: Lot property
1) Land parcel at Hidaka City, Takahagi 3 chome 127-52
Lot area: 99 square meters
2) Land parcel at Hidaka City, Takahagi 3chome 128-38
Lot area: 9.91 square meters
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FACTS ABOUT THIS PROPERTY:
This time, only the land parcel will be auctioned. The building built on the parcel is owned by child (B) of parcel owner (A). Regarding the use of the land parcel, there is no lease of agreement contract in between the parcel owner (A) and the child (B). Thus, if a successful bidder (C) acquired the land parcel, building owner/child (B) cannot enforce any power or authority over the use of the foreclosed parcel.The building owned by child (B) was only built in 2007. As the building is still brand-new, child(B) does not want to demolish it. I would say this property would become a good investment when successful bidder (C) enters into a contract lease agreement with child (B) that would enable(C ) to collect a monthly rental fee from (B). If it happens that (B) would not want to acknowledge the binding contract lease agreement, then (C) should petition the court to order the demolition of the building, and in the end it is highly likely that the court will favor the petition of (C).
The clearance standard price for this particular property is 2,100,000JPY.
If monthly rental fee collection amounts to 60,000 yen, then the computation of the return rate would be: 60,000JPY x 12 / 2,610,000JPY x 100 =27%
So that’s the advantage you could get from bidding only the land parcel.
Now, if you win the building through the auction and then rent it out, you (the winning bidder) would also have to pay for the building renovation should that be necessary. However, if you only bid for the land parcel, then there no such obligation like payment for renovation. And with that, it will foster a good investment.
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PICTURE

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