JAPAN foreclosed properties

1 Bedroom mansion in Ayase

2010-01-14T06:43:00.000-08:00

Bidding Duration: January 14, 2010 to January 21, 2010

Bidding Opening Day: January 28, 2010

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Nearest station from the foreclosed property:

1) JR Joban line kameari station - 1.3 Kilometers
2) Subway Chiyoda line ayase station - 1.19 Kilometers

3) Keisei honsen ohanajaya station - 1.59 Kilometers

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PROPERTY DETAILS:

Clearance standard price: JPY 2,240,000

Minimum purchase price: JPY 1,792,000

Category: 1 bedroom mansion

Room Floor area: 15.87 square meters

Property management fees: JPY 11,840

Unpaid property management fees: JPY 700,000

Current rental fee: JPY 74,000

Facts about this property:

Currently there is a tenant in this mansion. Current Rental fee is JPY 74,000. But this rental fee is higher than the market price. The average market price of this room is about JPY 50,000.
You should consider this when you calculate the yield rate.
Unpaid property management fees: JPY 700,000.

The room space is narrow. But on the other hand, tenant will benefit with the convenience of using 3 lines of train. Therefore, finding a tenant on this mansion would be easy.
In order to evict the current tenant, there is no need to file legal court proceedings. Eviction can be done easily.

Approximate bidding amount:
JPY 38,000 x 12/0.1 = JPY 4,560,000
JPY 4,560,000 - (Unpaid property management fees: JPY 700,000) = JPY 3,860,000

Photos

1 Bedroom Mansion in Yokohama City

2009-12-10T05:19:00.000-08:00

Bidding Duration: January 6, 2010 to January 13, 2010

Bidding Opening Day: January 20, 2010

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Nearest station from the foreclosed property:

1) Keihinkyukouhonsen koganecho station -> 0.32 Kilometers
2) Yokohama shiei subway blue line Bandoubashi station -> 0.32 Kilometers

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PROPERTY DETAILS:

Bargain Selling Price: JPY 2,940,000

Possible Purchase Price: JPY 2,352,000

Category: 1 bedroom mansion

Property No. : Yokohama city naka-ku, sueyoshichou 3 chome

Room No.: 307

Room Floor area: 25.38 square meters

Property management fees: JPY 15,260

Date Constructed: 1989

Arrears of Property management fees: JPY 500,000

Current rental fee: JPY 75,000

Facts about this property:

You can go to yokohama station from bandoubashi station within 10 minutes.
Yokohama station is the most famous urban station in kanagawa prefecture. There are a lot of offices, department stores and commercial buildings near the place. So, it is not difficult to find tenant for this mansion.
The current rental fee is higher than the expected rent amount which is about JPY 65,000. As of now, there is a tenant on this property paying a monthly rental fee of JPY 75,000. During the visit of the court house officer there is a couple currently residing on this property.

This is result of opening.

Winning amount was ５，１７０，０００ yen.

In this case, yield rate should be
(JPY 65,000 - JPY 16,000) x 12/5170000 yen =11 percent
Even if buyer pays 500000 yen to renovate the room ,she can get enough profit.

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About Key money or Deposit

2009-11-28T23:34:00.000-08:00

About Key money or Deposit.
There are a lot of troubles concerning with key money/ deposit. Last year there were over 10,000 issues about returning of key money/ deposit. After 4 years of stay during college days, The tenant has decided to leave his apartment on the end of March. Then he was advised by the landlord that owner will deduct 200,000 yen from key money/ deposit in order to change the wallpaper, repair of damage in closet door, and to clean the room.
The tenant was disappointed with it because the rental fee is 50,000 yen. But the owner billed 200,000 yen. So, he consulted to the public organization office. According to the organization, tenant have to pay the requested money in order to repair the wallpaper. Furthermore, When the tenant made lease contract with the owner, he agreed that he would pay money for cleaning the room.
The public organization office receives a lot of consultation orders especially in April and May. According to the organization, if tenant used the apartment normally and made some damage in minor facilities such as tatami mat, the tenant do not have obligation to pay for the repair.

Property in Yamato City

2009-11-27T18:54:00.000-08:00

Bidding Duration: December 2, 2009 to December 9, 2009

Bidding Opening Day: December 16, 2009

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Nearest station from the foreclosed property:

1) Odakyu enoshima line tsuruma station -> 0.3 Kilometers

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PROPERTY DETAILS:

Bargain Selling Price: JPY 1,560,000

Possible Purchase Price: JPY 1,248,000

Category: Mansion

Property No. : Yamato City, Nishi-tsuruma, 1 chome

Room No.: 413

Room Floor area: 13.83 square meters

Property management fees: JPY 8,270

Date Constructed: 1990

Arrears of Property management fees: JPY 100,000

Current rental fee: JPY 33,000

Approximate bidding amount:
JPY 33,000 x 12/ 0.15 = JPY 2,640,000

Photos

Property in Yokohama City

2009-11-26T20:37:00.000-08:00

Bidding Duration: December 2, 2009 to December 9, 2009

Bidding Opening Day: December 16, 2009

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Nearest station from the foreclosed property:

1) Keihin kyukou line line Koganecho station -> 0.4 Kilometers

2) Yokohama shiei chikatetsu Blue line yoshinocho station -> 0.56 Kilometers

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PROPERTY DETAILS:

Bargain Selling Price: JPY 2,480,000

Possible Purchase Price: JPY 1,984,000

Category: Mansion

Property No. : Yokohama City, Minami-ku, miharudai 6-3

Room No.: 104

Room Floor area: 40.10 square meters

Property management fees: JPY 16,530

FACTS ABOUT THIS PROPERTY:

There is a possibility to have few bid entries for this property owing to several reasons. So, bidder can get this property at a lower price.
Approximate bidding amount:
JPY 60,000 x 12/ 0.15 = JPY 4,800,000

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Bidding result of property in Atsugi City

2009-11-20T06:17:00.001-08:00

Bid opening of Property in Atsugi City has been announced. The winning bid amount is JPY 3,199,999. The projected yield is around 16%.

Property in Ikebukuro City

2009-11-18T07:39:00.000-08:00

Bidding Duration: December 3, 2009 to December 10, 2009

Bidding Opening Day: December 17, 2009

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Nearest station from the foreclosed property:

1) JR Saikyo line, Itabashi station -> 0.5 Kilometers

2) Toubotoujou line, Kita Ikebukuro station (North side) -> 0.27 Kilometers

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PROPERTY DETAILS:

Bargain Selling Price: JPY 3,650,000

Possible Purchase Price: JPY 2,920,000

Category: One bedroom mansion

Property No. : Toshima ku Kami Ikebukuro

Room Floor area: 2nd floor, 14.58 square meters

Property management fees: JPY 11,000

FACTS ABOUT THIS PROPERTY:

The foreclosed property this time is a one bedroom mansion. The room size is narrow but considering that the place is in the City and near in the stations, finding a tenant would not be a problem.
Based on the court office evaluation report, the property is currently tenanted with a monthly rental fee of JPY 50,000. However, there is a need to visit the actual place to verify if still there is a tenant at the present. Existence of the tenant is a very important thing to consider. It's because when the property is not tenanted, looking for a new tenant will require to renovate the property.
In that case, the renovation cost will range from JPY 50,000 to JPY 150,000.
Approximate bidding amount:
JPY 50,000 x 12/ 0.13 = JPY 4,615,384

Photos

Auction procedure summary

2009-11-13T14:44:00.000-08:00

Auction procedure summary.
The Creditor usually initiates the auction. A typical example of creditor is usually from financial institution. Aside from this, there is Tax administration bureau and local executive branch (City Office, Prefectural government, etc.). When such kind of public office initiates the auction, it is called "Public sale". In case of auction and public sale, both process should be applied in the court office. The court office will request to appraise/ assess the real estate that is subject for auction and public sale. Then, the detailed article or document report will be created based on the appraisal/ assessment result.
During the bidding process, if no one bids within the specified bidding duration, it will implement the special clearance sale within a week after the bidding duration. Whatever amount offered by the purchaser will become a possible purchase amount.
Example, there is an auctioned property no. 100 (Year 2009). At first, the bidding duration is announced. Then, it will turn to a special clearance sale when there is no bid entries.
If no one gets the special clearance sale, a second bidding which is 30% lower than the clearance standard price will be announced. Then, second special clearance sale will be implemented in case of no bid entries on the second bidding duration. This process will continue upto third time bidding and special clearance sale.

No auction will be announced after the third time bid opening.

Calculating the appropriate bidding amount

2009-11-13T05:10:00.000-08:00

Calculating the appropriate bidding amount.
It is necessary to secure more than 12% rate of return to have a successful property investment in Japan, Property investment becomes failure when a property is acquired through bank loans with monthly amortization costing more than the monthly rental fee revenues.
Rate of return is the recommended indicator to determine whether an investment property will succeed or not. To compute, first, divide the total property cost with 110% denominator. Then multiply the total monthly rent for the whole year with multiplier 80%. Note that our denominator is not 100% but 110% because of the additional 10% which represents the miscellaneous expenses incurred when acquiring the investment property. Meanwhile, our multiplier is not 100% but 80% because we deducted 20% which represents property tax, reserve fund for renovation, deficit incurred during periods without tenants, etc. It’s a rule of thumb that worst case scenarios should be assumed when embarking in an investment.
The standard rate of return when buying a property should be more than 12%.
Rate of return = Revenue from the monthly rental fee ÷ 110% of the total property cost
Sample Case Problem:
6-room apartment, with one room monthly rental fee amounting to about 38,000 yen
Budget for renovation is 2,500,000 yen.
Given the above condition, how much would be the appropriate bidding amount if the target rate of return is 15%?
Total Monthly rent:
38,000 yen x 6 x 12months = 2,736,000 yen
Net Income from the Monthly Rent:
2,736,000 yen x 80% = 2,188,000 yen
Cost of Investment:
2,188,000 yen ÷15%=14,592,000 yen
Deducting the renovation cost:
14,592,000 yen – 2,500,000 yen = 12,092,000 yen
Deducting the miscellaneous expense incurred by the auction bidding
12,092,000 yen÷110%= 10,992,000 yen
Appropriate bidding amount:
10,992,000 yen

Bidding result of property in Shiki City

2009-11-03T06:30:00.000-08:00

Bid opening of the property in Shiki City has been announced. The winning bid amount is JPY 5,391,000 . There were 20 bid entries. This amount is very close with our estimated winning amount.

Bidding result of lot property in Ichikawa City

2009-11-03T06:23:00.000-08:00

Bid opening of this property Land parcel in Ichikawa City has been announced. The winning bid amount is JPY 3,636,000 . There were 11 bid entries. This amount is lower than our estimated winning amount. If the monthly rent fee is JPY 70,000, the projected yield is around 23%.

Property in Kawagoe City

2009-10-16T16:33:00.000-07:00

Bidding Duration: October 29, 2009 to November 5, 2009

((Monthly rental fee = 50,000 JPY x 12) / 2,400,000 JPY ) x 100 = 25% estimated ROI
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Nearest station from the foreclosed property:
JR川越線西川越駅 (North-West side) - 1.24 Kilometers
JR川越線的場駅 (Nort-East side) - 1.36 Kilometers

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PROPERTY DETAILS:

Standard Clearance price: JPY 2,730,000

Bargain Selling price: JPY 2,184,000

Category: Lot and Building

Floor No.: 1st floor, with 34.78 square meters; 2nd floor, with 33.12 square meters

Date constructed: 1978

FACTS ABOUT THIS PROPERTY:

1) Land property is 59.39 square meters with constructed building.
2) Public road with 3.85 square meters (1/3 share)
3) Public road with 0.44 square meters (1/3 share)
A friend of the debtor is renting on the 2nd floor (Japanese style room) for a monthly rent of JPY 20,000. This tenant has the priority over the highest bidder, so there is a need to evict by court legal procedure. While on 1st and 2nd floor (Western style room), is owned by a debtor who has cleaning shop business. In this case, no need to proceed with court legal procedure. This will be a good invetment if the debtor will pay a monthly rent fee of JPY 40,000 from now.
However, if the debtor will not be able to pay the rent, you need to evict that debtor and your source of rent income will only be from 1st floor. It will be about JPY 30,000.
For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 50,000 x 12 months

2) Possible winning bid amount: JPY 2,400,000

Expected yield/ ROI: 25 % ( No.1 / No. 2) x 100).

PICTURE

Bidding result of Land parcel in Hidaka City

2009-10-16T15:52:00.000-07:00

Bid opening of this property Land parcel in Hidaka City has been announced. The winning bid amount is JPY 4,122,000 . There were 5 bid entries. This amount is higher than our estimated winning amount. If the monthly rent fee is JPY 60,000, the projected yield is around 17%. This is a good chance for investment.

Bidding result of Apartment room in Sayama City

2009-10-16T15:46:00.001-07:00

Bid opening of this property Apartment room in Sayama City has been announced. The winning bid amount is JPY 2,192,100 . There were 6 bid entries. The projected yield is around 15% (Monthly rent fee = JPY 36,000 x 12) / (JPY 2,192,100 + JPY 600,000) x 100.

Lot property in Ichikawa City

2009-10-14T13:31:00.000-07:00

Bidding Duration: October 15, 2009 to October 21, 2009

((Monthly rental fee = 70,000 JPY x 12) / 4,800,000 JPY ) x 100 = 17.5% estimated ROI
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Nearest station from the foreclosed property:
JR武蔵野線市川大野駅 (South-east side) - 1.9 Kilometers

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PROPERTY DETAILS:

Standard Clearance price: JPY 2,800,000

Bargain Selling price: JPY 2,240,000

Category: Lot and building

Floor No.: 1st floor, with 29 square meters

FACTS ABOUT THIS PROPERTY:

1) The property owner is a construction firm.
2) There are 3 parcels of land wherein 2 parcels are shared. The shared parcel serves as the road going to the building property.
3) The first floor of the building has only 29 square meters floor area which is quite small.
4) A tenant occupies the property and the monthly rental fee is 70,000 yen. Considering the building’s narrow space, the rental fee seemed a little bit expensive to me.　I assume that this rental fee would not get cheaper down to 50,000 yen.
5) The sink is clogged up and a repair would be necessary.
6) Parking area is included. The property is located far from the train station and the already inclusive parking area would be an advantage. The nearest train station is Ichikawaono Station and I have come by the station a number of times.
7) Along the vicinity area, there are several new houses, small factories and a vast land of green fields and forests. There are no large-scale food stores nearby. Also, big empty lands stand out on the vicinity area.
8) We need to investigate the ties between the tenant and the owner. If the tenant is related to the debtor company, then it would be difficult to demand to pay the house rent. This is because the company which owns the property might have been brankrupted. If indeed the company was bankrupt, then it would be burdensome to demand the house rent from its employees or more specifically the tenant who get unemployed due to the bankruptcy.
9) From what I ‘ve seen from the photos, the house interior is basically tidy.
10) By this time, the possible winning bid price is 4 million 800 thousand yen (4,800,000 yen).

PICTURE

Property in Atsugi City

2009-10-13T22:04:00.000-07:00

Bidding Duration: October 29, 2009 to November 5, 2009

((Monthly rental fee = 70,000 JPY x 12) / 4,100,000 JPY ) x 100 = 20% estimated ROI
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Nearest station from the foreclosed property:
1) 小田急小田原線本厚木駅 (South side) - 3.5 Kilometers
2) JR相模線門沢橋駅 (East side) - 1.56 Kilometers
3) 小田急小田原線愛甲石田駅 (East side) - 1.94 Kilometers
4) JR相模線倉見駅 (North-East side) - 2.18 Kilometers.

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PROPERTY DETAILS:

Standard Clearance price: JPY 2,510,000

Bargain Selling price: JPY 2,008,000

Property No1: Parcel lot
Property Address: Atsugi City Sakai Jijou Aitsubo 1792-7
Land Category (As Registered): Residential lot
Land Category (At present): A portion had been categorized as part of the public road
Registered lot area: 114.28 square meters
Lot area (At present): Lot area is classified as semi-industrial zone
Building to land ratio: 60%
Floor space ratio: 200%

Property No.2: Building property
Property Address: Atsugi City Sakai Jijou Aitsubo 1792-7
Residential Building No: 1792-7
Land Category (As Registered): Residential building (At present)
Building Structure (As Registered): 2 Floor wooden roof structure (Up to present)
Lot area (As registered): 40.48 square meters; Second floor: 31.39 square meters
Lot area (At present): First floor= 52.38 square meters
Second floor= 31.39 square meters
Building to land ratio: 60%
Floor space ratio: 200%
Floor Layout: 5 rooms with separate dining room and kitchen (5DK)
The owner left the property with furnishings remained untouched.
Construction date: October 1979

FACTS ABOUT THIS PROPERTY:

The owner expanded the first floor to about 10 square meters. The owner also used a portion of another private-owned property as a roadway access. This roadway access covers a wider area compared to the building floor area. The area covered by the first floor minus the total land area serves as the parking space area. Having a car would be an advantage as the property is located faraway from the train station. In the absence of private car, train can still be accessed through Aiko Ishida station of the Odakyu Odawara line located at a distance of about 1.94km.
Meanwhile, I could see that renovation is one of the drawbacks of this property. It is evident on the picture that the roof edges were damaged due to its prolonged exposure to rainwater, and thus it may need a repair.
Regarding the expanded portion implemented by the property owner, I assumed a major renovation of its foundation maybe necessary. The room which was built through expansion is somewhat tilted at an angle due to the damaged foundation. The foundation may have been damaged as the ground floor is evidently at tilted angle which I suppose would cause a ball to freely roll on its own when placed on it.
A repair would be necessary as floor spots and blemishes on the ceiling were evident on the second floor due to rainwater which leaked through the roof.
The Japanese law stipulates that a property lot subject to house construction should have more than 2 meter wide of space area where there is 4 meter wide of public road. However, this particular property does not meet such requirement. Thus, a permit from the City Ward Office would be needed in order to demolish the old house from this property and construct a new building. However, there’s no need to get a city government permit to renovate and use the old house.
Rough estimated registration tax will be JPY 160,000 Rough estimated porperty tax will be JPY 220,000. Extreme damage was evident on this foreclosed property. While this property was auctioned twice through a standard bidding and special bidding sale, still no one attempted to bid. Thus, they set the clearance standard price at a lower bidding price.

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 70,000 x 12 months

2) Possible winning bid amount: JPY 2,100,000

3) Renovation and maintenance: JPY 2,000,000

Expected yield/ ROI: 20 % ( No.1 / (No. 2 + No. 3)) x 100).

PICTURE

Mansion in Yokohama City

2009-10-10T20:52:00.000-07:00

Bidding Duration: October 21, 2009 to October 28, 2009

((Monthly rental fee = 55,000 JPY x 12) / 3,800,000 JPY ) x 100 = 17% estimated ROI
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Nearest station from the foreclosed property:
JR 京浜東北線山手駅北東方 - 1.8 Kilometers.

Other nearest stations:

1) みなとみらい線元町/中華街駅 (East-West side) - 1.59 Kilometers

2) JR 京浜東北線石川町駅 (East side) - 1.97 Kilometers

3) みなとみらい線日本大通り駅 (East-West side) - 2.47 Kilometers

4) JR 京浜東北線関内駅 (East side) - 2.8 Kilometers

5) 横浜市営地下鉄ブルーライン関内駅 (East side) - 2.8 Kilometers

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PROPERTY DETAILS:

Standard Clearance price: JPY 1,930,000

Bargain Selling price: JPY 1,544,000

Category: Mansion

Room No.: 304

Floor No.: 3rd floor, with 17.12 square meters

Date constructed: February 1992

FACTS ABOUT THIS PROPERTY:

This property is owned by three individuals. The highest bidder can get the ownership of the entire property. There is a tenant during the inspection of Court Office. Monthly rental fee is JPY 70,000. Since the property management fee is JPY 14,870, the net rental income is about JPY 55,000. Highest bidder is the priority for the ownership than current tenant. Tenant can be evicted without filing a lawsuit.
The property owner has the obligation to pay for the unpaid property management fees. Thus, the highest bidder must take this obligation. The amount that should be paid is about JPY 600,000.
As we can see on the picture, there are many garbage inside the property. The tenant is untidy and undisciplined, thus, could also possibly fail to pay the rent, so the highest bidder should consider this risk. However, other bidders might have the same impression, so, there is a possibility that the winning bid amount is lower. Furthermore, the mansion is a bit far from the train station, thus, there is a possibility to get at a lower winning bid amount.

Bid amount is JPY 55,000 x 12 / 0.15 = JPY 4,400,000 - JPY 600,000 = JPY 3,800,000

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 55,000 x 12 months

(JPY 70,000 - JPY 14,870 property management)

2) Possible winning bid amount: JPY 3,800,000

3) Debt and maintenance: JPY 600,000

Expected yield/ ROI: 17 % ( No.1 / No. 3) x 100).

PICTURE

Lot property in Kadoma City

2009-10-09T16:29:00.000-07:00

Lot property in Kadoma City
Property Address: Osaka-fu Kadoma City, Kishiwada 3-chome 904-60
Clearance standard price: 610,000yen
The land including a building built on it comprised this property.
Property land area: 31 square meters
Building floor area: First floor = 25 meters, Second floor = 21 square meters
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FACTS ABOUT THIS PROPERTY:
On this property, the tenant pays a monthly rental fee of 60,000 yen. The nearest train station is located 3, 500 meters (or 3.5km) away from the property, thus it would be difficult to find the succeeding tenant. However, I think there’s no problem as long as current tenant will not leave the property. In addition, during the past 30 years since the building was built, there’s no renovation at all. Thus, a repair would be necessary upon the tenant’s request.
There was bid opening on October 1, 2009.
60,000 JPY x 12 / 1,312,222 JPY x 100 = 54 percent (54%)
There were 11 tenders.
Definitely, foreclosed property occupied with tenants is highly in demand.
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PICTURE

Fujimi City Mizutani Higashi Special Auction Sale

2009-10-09T08:03:00.001-07:00

This property had been sold out in a way indicated as follows:
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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PICTURE

Lot property in Hidaka City

2009-10-08T06:08:00.000-07:00

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

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.

PICTURE

Apartment room in Sayama City

2009-09-24T04:20:00.000-07:00

Bidding Duration: October 1, 2009 to October 8, 2009

((Monthly rental fee = 36,000 JPY x 12) / 2,240,000 JPY ) x 100 = 19%
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Nearest station from the foreclosed property:

Seibu shinjuku line sayamashi station (西武新宿線　狭山市駅) - 0.3 Kilometers

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PROPERTY DETAILS:

Standard Clearance price: 1,640,000 JPY

Category: Apartment

Room No.: 312

Floor Area.: 19.39 square meters

Property location no.:

Sayama city irumagawa (狭山市入間川二丁目　２６６３番地１０、２６６２番地)

FACTS ABOUT THIS PROPERTY:

This apartment room is used for employee rental purpose. The company leased this room and rented-out to its employee in a discounted amount. This kind of incentive is given to a highly-skilled employees of a Company. In this case, that company rented this room, the possibility of debt to the owner is very low.

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 36,000 x 12 months

(JPY 50,000 - JPY 14,000 property management)

2) Standard Clearance price: JPY 1,640,000

3) Debt and maintenance: JPY 600,000

Expected yield/ ROI: 19% ( No.1 / (No.2 + No.3 ) x 100).

PICTURE

Apartment in Fujimino City, Saitama Prefecture

2009-09-21T07:37:00.000-07:00

Bidding Duration: October 1, 2009 to October 8, 2009

((Monthly rental fee = 40,000 JPY x 12) / 3,700,000 JPY ) x 100 = 12%
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Nearest station from the foreclosed property:
Tobu tojo line fujimino station (東武東上線　ふじみ野駅) 1.28 Kilometers.

Other nearest stations:

東武東上線　上福岡駅　南方 - 1.07 Kilometers

東武東上線　鶴瀬駅　北西方 - 3.04 Kilometers

東武東上線　新河岸駅　南東方 - 3.33 Kilometers

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PROPERTY DETAILS:

Standard Clearance price: 2,640,000 JPY

Category: Apartment

Room No.: 101 (3LDK type)

Floor No.: 1st floor, with 67.04 square meters

FACTS ABOUT THIS PROPERTY:

This apartment is located at Fujimino City, Saitama Prefecture. This kind of property is popular because express trains stop on the nearest station. The monthly property management cost is JPY 21,680.

During the inspection of Court Office, it was discovered that the former owner was died on the property. But, it is not a suicidal nor a murder cause of death. In this case, when this property is open for lease the rent fee will become lower. Therefore, only few interested bidders will tender their bid on this kind of property. If the winning bid is low, there is a possibility for good return-on-investment. It doesn't mean that now the rental fee is low, it will continue for long time. The rent fee might goes up in the long run.

For the breakdown formula of estimated yield/ return-on-investment:

1) Monthly net rental fee: JPY 40,000 x 12 months

(JPY 60,000 - JPY 20,000 property management)

2) Possible winning bid amount: JPY 2,200,000

3) Debt and maintenance: JPY 1,000,000

4) Renovation cost: JPY 500,000

Expected yield/ ROI: 12% ( No.1 / (No.2 + No. 3 + No. 4) x 100).

PICTURE

Building property in Irumashi City

2009-09-19T03:24:00.000-07:00

Bidding Duration: October 1, 2009 to October 8, 2009

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Nearest station from the foreclosed property:
Seibu ikebukuro line irumashi station - 1 Kilometer.

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PROPERTY DETAILS:

Standard Clearance price: JPY 9,560,000

Address: Iruma city toyooka 5 chome (入間市豊岡五丁目)

Category: Building

FACTS ABOUT THIS PROPERTY:

This is a 3 storey building. Only 1 kilometer away from the Irumashi station. The standard clearance price is JPY 9,560,000. Floor areas are: 1st floor is 27.47 square meters; 2nd and 3rd floor both have about 51.03 square meters. The lot area where this building is located has 100 square meters wide and the connected land, a public road area. The debtor is currently residing on the 2nd and 3rd floor. And the 1st floor is being used as Office by the company being managed by debtor. The successful bidder can evict the debtor without having a legal court proceedings. The building was constructed 13 years ago. Generally, the building is still new and this is very rare case to put on foreclosures. The expected yield for this property is 17%.

PICTURE

Building and Lot in Kawagoe City, Saitama

2009-09-18T18:51:00.000-07:00

Bidding Duration: October 1, 2009 to October 8, 2009

(Monthly rental fee = 70,000 JPY) x 12 / 4,190,000 JPY estimated winning bid amount) x 100 = 20%
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Nearest station from the foreclosed property:
Kawagoe station - 3 Kilometers.

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PROPERTY DETAILS:

Standard Clearance price: 4,190,000 JPY

Category: Building and lot

FACTS ABOUT THIS PROPERTY:

Kawagoe is the most popular City in Saitama Prefecture. There are many residents from this City who usually go to Tokyo, so finding a tenant would be very easy. Only 3 kilometers away from the Kawagoe station. The standard clearance price is 4,190,000 JPY. Lot area is about 90 square meters. Building total floor area for 1st and 2nd floor is about 77 square meters. The building was made of wood.

PICTURE

Kawagoe station

Bidding result of House and Lot in Edogawa, Nishi-Kasai

2009-09-08T20:35:00.000-07:00

Bid opening of this property House and Lot in Edogawa Nishi-Kasai has been announced. The winning bid amount is JPY 7,550,000 . There are 11 bid entries. The projected yield is around 20%. One of our Clients really like to win this property.

Bidding result of House and Lot in Shinagawa

2009-09-08T20:31:00.000-07:00

Bid opening of this property House and Lot in Shinagawa has been announced. The winning bid amount is JPY 12,512,000 . The market price is JPY 16,400,000. The projected yield is around 8%.

Bidding result of House and Lot in Nerima, Oizumi

2009-09-08T20:25:00.000-07:00

Bid opening of this property House and Lot in Nerima, Oizumi has been announced. The winning bid amount is JPY 7,542,000 . The projected yield is around 15%.

Bidding result of House and Lot in Misawa City

2009-09-07T20:43:00.000-07:00

Bid opening of this property House and Lot in Misawa City has been announced. The winning bid amount is JPY 5,560,000 . This is popular in the region.

Bidding result of Apartment in Meguro-ku, Ohashi

2009-09-07T20:38:00.000-07:00

Bid opening of this property Apartment in Meguro-Ku, Ohashi has been announced. The winning bid amount is JPY 4,130,000 . There are 18 bid entries on this property. This is popular in 23 Ward. Eventhough there are many bid entries, still it was bought on a lower price. Projected yield is around 20%.

Bidding result of House and Lot in Ichikawa City

2009-09-07T20:35:00.000-07:00

Bid opening of this property House and Lot in Ichikawa City has been announced. The winning bid amount is JPY 4,067,000 . The successful bidder bought the property lower than the clearance standard price.

Bidding result of Resort condominium in Atami City

2009-09-07T20:31:00.000-07:00

Bid opening of this property Resort condominium in Atami City has been announced. The winning bid amount is JPY 3,261,000 . There is only 1 bid entry for this property. The successful bidder bought the property with 70% discount from market price.

Bidding result of Apartment in Yamato City

東武伊勢崎線　東向島駅　南西方 - 0.74 Kilometers

東京メトロ半蔵門線　押上駅　北方 - 0.9 Kilometers

京成押上線　押上駅　北方 - 0.9 Kilometers

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PROPERTY DETAILS:
Standard Clearance price: 3,296,000 JPY

Category: House and lot

FACTS ABOUT THIS PROPERTY:

In this property, it has the lot area of 33.19 square meters and a building. The building was made of wood. So, renovation would be cheaper because it is just made of wood. Compare to the mansion that was made in steel, the renovation expenses is very high. The 1st and 2nd floor area of this building is approximately around 23.13 square meters each.

The debtor is currently occupying the property, So, it is either to evict or let the owner of the property lend the property. In case of lending the property, it has about 20% projected yield.

PICTURE

House and Lot in Tokyo City

2009-08-13T20:35:00.000-07:00

Bidding Duration: August 25, 2009 to September 1, 2009

(Monthly rental fee = 70,000 JPY) x 12 / (winning price + renovation = 3,500,000 JPY) x 100 = 24%
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Nearest station from the foreclosed property:
都営三田線toei mita line 板橋区役所前駅 itabashi kuyakusho mae station -　0.58 Kilometers. Around 8 minutes walk.

都営三田線　新板橋駅(shin itabashi station) - 0.68 Kilometers
東武東上線(tobu tojo line) 下板橋駅(shimo itabashi station) - 0.79 Kilometers
ＪＲ埼京線（JR saikyo line)の板橋駅 (itabashi station) - 0.92 Kilometers
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PROPERTY DETAILS:
Purchase price: 2,856,000 JPY

Category: House and lot

FACTS ABOUT THIS PROPERTY:

There are many train transportation line access to this property that's why looking for a tenant is very easy. This consist of two (2) lot properties and a building. The lot area is about 38 square meters. There are two(2) floors on the building, 1st floor area is about 27.21 square meters; and the 2nd floor area is about 24.84 square meters.

The building was constructed in 1972, so it needs to be renovated. Renovation will bring more profit on this property.

PICTURE

House and Lot in Fujimino City

2009-08-10T20:27:00.000-07:00

Bidding duration: August 27, 2009 to September 03, 2009
Projected yield: 25% (In case of bid at Clearance standard price)

(Monthly rental fee = 39,000 JPY) x 12 / 1,870,000 JPY x 100 = 25%
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Nearest station from the foreclosed property:
東武東上線 (tobu tojo line)　上福岡駅(kami hukuoka station)　1.9 Kilometers
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PROPERTY DETAILS:
Clearance standard price: 1,870,000 JPY
Category: House and lot

FACTS ABOUT THIS PROPERTY:

The floor area of this house and lot property are: 1st floor is 20 square meters; 2nd floor is 18 square meters. It has small floor area that's why you can purchase at the cheapest clearance standard price of JPY 1,870,000. Where in you can place a bid amount at 1,496,000 less 20% .
Furthermore, this foreclosed property has an existing occupant/ tenant during the actual inspection of the Court Office. The monthly rental fee is JPY 39,000.
This property is outside Tokyo area and not attractive to common buyer. However, it is a kind of property that has a good return-on-investment or yield.
By the way, my parents live in the city with the same rail-way track where this property located at, but more farther place from Tokyo. (By Akiyama)

PICTURE

Residencial lot property in Saitama Prefecture, Gyoda City

2009-08-04T05:37:00.000-07:00

Bidding duration: October 21, 2009 to October 28, 2009
Projected yield: 113% (In case of bid at Clearance standard price)

(Monthly rental fee = 50,000 JPY) x 12 / 530,000 JPY x 100 = 113%
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Nearest station from the foreclosed property:
JR Takasaki line, Gyoda station - 1.8 Kilometers
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PROPERTY DETAILS:
Clearance standard price: 530,000 JPY
Category: Residencial lot

FACTS ABOUT THIS PROPERTY:

1) The classification of this property by registration is an agricultural land property.

In Japan law, it is required to get a permission in order to buy an agricultural type of property. However, if the actual property is being used for the residencial purposes it will not require such kind of permission.

Therefore, in such cases the winning price of agricultural land property becomes very cheap because a lot of people do not really understand this kind of property law.

In this auction, there are two areas of land property. 1) 24 square meters and 2) 227 square meters at clearance standard price of 530,000 JPY.

2) There is an unsold building constructed on this land property.

On top of this land property, there is a building that cannot be put in auction because it has a legal issues on land ownership rights. It happened because the building constructed on that land property has a mortgage arrangement.

In that case, when there is someone got the winning price in auction of this land property, the former owner of the building will not have the rights to use the land. Because the person who got the winning bid will take the ownership of that property. If this case happened, the owner of the building should initiate the demolition of that building in order to give way for the new owner. Unfortunately, the building will become useless.

So, in order to maintain the building and avoid this from happening, the rights and mortgage should have settled beforehand. Also, it is necessary to acquire the rights to use the land for the constructed building.

Therefore, even if you bought or got the winning bid amount for this property, still you cannot use the land. Now, why we are introducing this kind of property? Simply because this is a good idea for the rental purpose. You can earn a profit, if you made a successful bid on the land property and got the rental from owner of the building. Unlike mansion or apartment it will not cost you for the building maintenance because what you owned is just the land. For professional investors, owning just the land property is a very good investment.

The current monthly rent of the land is 50,000 JPY. Which means, (50,000 JPY x 12 months) / 530,000 JPY x 100 = 113% projected yield.

As a pre-requisite, it is necessary to have meeting with the owner of the property and other concerned parties to negotiate the investment plan before placing the bid amount. So, do you also think this property is a good investment?

For your information, the market price of this land (when there is no building on top of it) is about 5.3 Million JPY.
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PICTURE

Renovation of the property for investment

2009-07-31T22:09:00.000-07:00

Remodelling Japan real-estate property for Investment.

Increase your investment idea. See how you can turn a real-estate property into more profitable investment. Personal sharing of a foreigner who just bought house and lot and make some renovations. Perfect idea for an investor.

TV Tokyo Interview on foreclosures

2009-07-31T21:46:00.000-07:00

TV Tokyo Interviews 1-800-CashOffer.

Increase your investment idea. Topics Include prime borrowers headed to foreclosures, how the 1-800-Cashoffer Investing program works, and tours of homes being remodelled.

We offer free consultation using BIT Sikkou Website

2009-07-26T02:43:00.000-07:00

We Offer free consultation of the information you want to search using BIT website. Just let us know of what district you are interested and the specific Ward, then we will give you concrete and detailed information.

The following are the simple guidelines on how to search foreclosed property using Bit Sikkou website.

Step 1: Go to the foreclosed property listing website http://bit.sikkou.jp/

This is where the Court Office publish the information on the available foreclosed properties for bidding.

Step 2: Select a Japanese prefecture to search for properties

When you access the main page you will see a scroll bar in Japanese. This scroll bar lists all the district court areas in Japan which are offering foreclosed properties. You can refer to the following list (in order as on Bit Sikkou):

1. Tokyo District Court

2. Yokohama District Court

3. Saitama District Court

4. Chiba District Court

5. Mito District Court

6. Utsunomiya District Court

7. Maebashi District Court

8. Shizuoka District Court

9. Kofu District Court

10. Nagano District Court

11. Niigata District Court

12. Osaka District Court

13. Otsu District Court

14. Wakayama-Nara-Mie District Court

15. Nagoya District Court

16. Tsu District Court

17. Gifu District Court

18. Kanagawa District Court - West Honshu

19. Toyama District Court - North of Tokyo, West of Nagano

20. Hiroshima District Court - South West Honshu

21. Okayama District Court - South West Honshu

22. Tottori District Court - South West Honshu

23. Matsue District Court - West of Tottori

24. Fukuoka District Court - Kyushu

25. Oita District Court - East of Fukuoka

26. Kumamoto District Court - South of Fukuoka

27. Miyasaki District Court - South East Kyushu

28. Sendai District Court - North East Honshu

29. Morioka District Court - North East Honshu

30. Akita District Court - North Honshu

31. Aomori District Court - North Honshu

32. Sapporo District Court - West Hokkaido

33. Hakodate District Court - South West Hokkaido

34. Asahikawa District Court - Central Hokkaido

35. Kushiro District Court - South East Hokkaido

36. Takamatsu District Court - Shikoku Island

37. Kochi District Court - Shikoku Island

Step 3: For example, if you want to select from "Aichi Prefecture", just select "Nagoya District Court Office" or "名古屋地方裁判所管内" then click "Go" button. The listings for Nagoya District will be displayed.

Step 4: Then, click the button under "Foreclosed Properties" or "競売物件情報』". Options, Lot property, house & lot property or others will be displayed.

Step 5: Select either or all of the three "土地、戸建て、マンション、その他" options just put a check on the left checkboxes. Please note that "売却基準価格" is optional selection.

Step 6: Under "Nagoya City" or "名古屋市", there are many wards or "所在地" are listed. As an example, you can select "Nakamura-ward" or "名古屋市中村区" then put a check on the left checkbox. Also, you have to select atleast one or all the options for "Transportation route" or "交通".

Step 7: Just check all the options for this selection "閲覧開始日（期間入札）』と『閲覧開始日（特別売却） ". And then click "Search" or "検索開始" button.

Step 8: You can now see all the information of foreclosed properties in Nakamura-Ward.

If you are not confident enough to investigate the information displayed on the BIT website, just email us at keibai_assist@yahoo.com and we are glad to help you get more detailed information.

Sample of highly profitable property outside Tokyo

2009-07-14T20:21:00.000-07:00

Projected yield: 61.8% (In case of bid at Clearance standard price)
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Nearest stations from the foreclosed property:
ＪＲ埼京線　南与野駅 (Minamiyono station) - 1.6 Kilometers
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PROPERTY DETAILS:
Clearance standard price: 1,333,555 JPY
Address: Saitama City, Sakura-ku (さいたま市桜区大字上大久保字東７０２番地３)
Category: Apartment
Room floor area/space: 51.63 Square meters
Current rent: 68,000 JPY
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PICTURE

Apartment in Yamato City, Daikan

2009-07-13T12:46:00.000-07:00

Bidding duration: July 22, 2009 to July 29, 2009
Projected yield: 26% (In case of bid at Clearance standard price)

(Potential rent = 65,000 JPY - Admin fee = 15,000 JPY) x 12 / 2,230,000 JPY = 26%
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Nearest stations from the foreclosed property:
小田急江ノ島線 (odakyu enoshima sen)　桜ケ丘駅 (sakuragaoka) - 1.8 Kilometers
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PROPERTY DETAILS:
Case No: 2008 (ke) 47
Clearance standard price: 2,230,000 JPY
Address: Yamato City, Daikan 3 chome (大和市代官三丁目２番２)
Category: Apartment
Room No.: 103
Room floor area/space: 64.95 Square meters - 3LDK
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PICTURE

Resort Condominium with Onsen in Atami City

2009-07-03T22:34:00.000-07:00

Bidding duration: July 1, 2009 to July 8, 2009
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Nearest stations from the foreclosed property:
Kinomiya station (ＪＲ伊東線　来宮駅) 0.6 Kilometers
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Other neareast stations:
東海道・山陽新幹線　熱海駅 (Atami station) 1.6 Kilometers
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PROPERTY DETAILS:
Clearance standard price: 3,080,000 JPY
Address: Atami city nishi atamicho 1 chome (熱海市西熱海町一丁目１７８０番地１３８ )
Category: Apartment
Room No.: 707
Floor area/ Space: 61.07 Square meters
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PICTURE

Now, if you buy such kind of apartment thru real-estate market, this is how it cost:

>> http://www.tokyu-resort.co.jp/detail/20123

In this website, one room in the same apartment is looking for buyer.

The price is 11,800,000 JPY

House and Lot in Komae City

2009-07-03T21:44:00.001-07:00

Bidding duration: July 21, 2009 to July 28, 2009
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Nearest stations from the foreclosed property:
Odakyu line, kitami station 0.7 Kilometers
小田急小田原線　喜多見駅　北西方　約 - 0.7km
（徒歩約９分）参考交通小田急小田原線　狛江駅　北東方 - 0.63km
小田急小田原線　和泉多摩川駅　北東方 - 1.23km
小田急小田原線　成城学園前駅　西方 - 1.64km
ＪＲ南武線　登戸駅　北東方 - 2.0km
小田急小田原線　登戸駅　北東方 - 2.0km
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PROPERTY DETAILS:
Clearance standard price: 22,100,000 JPY
Address: Komae City, Iwato kita 1 chome (狛江市岩戸北一丁目１１５８番２２)
Category: House and Lot
Space: 100.09 Square meters
Floor No.: 1st Floor - 50.22 Square meters; 2nd Floor - 42.93 Square meters
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PICTURE

House and Lot in Ichikawa City

2009-07-03T19:42:00.000-07:00

Bidding duration: July 23, 2009 to July 29, 2009
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Nearest stations from the foreclosed property:
Ichikawa ono station (ＪＲ武蔵野線　市川大野駅) - 1.7 Kilometers
市川東高校バス停　北西方　約 - 0.7km
（道路距離）参考交通ＪＲ武蔵野線　船橋法典駅　北西方 - 2.19km
京成本線　鬼越駅　北東方 - 2.63km
京成本線　京成八幡駅　北東方 - 2.65km
京成本線　京成中山駅　北方 - 2.82km
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PROPERTY DETAILS:
Case No: 2008 (ke) 2214
Clearance standard price: 4,820,000 JPY
Address: Ichikawa City, Minami-ono 1 chome (市川市南大野一丁目１５番１０５ )
Category: Lot (Share)
Space: 458 Square meters Ratio: 6299/45832
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Category: House
Room floor area/ space: 1st floor - 27.94 Square meters; 2nd floor - 24.30 Square meters;
3rd floor - 6.36 Square meters
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PICTURE

House and Lot in Misawa City

2009-07-01T20:41:00.001-07:00

Bidding duration: August 6, 2009 to August 13, 2009
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Nearest stations from the foreclosed property:
Tohoku hon line, misawa station (ＪＲ東北本線　三沢駅　北東方) - 1.4 Kilometers
十和田観光電鉄　三沢駅　北東方 - 0.84km
十和田観光電鉄　大曲駅　北東方 - 3.43km
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PROPERTY DETAILS:
Case No: 2009 (ke) 26
Clearance standard price: 2,684,000 JPY
Category: Lot
Room floor area/space: 137.54 Square meters
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Category: House
Room floor area/ space: 1st floor - 62.99 Square meters; 2nd floor - 35.72 Square meters
Room No.: 31 - 1978
Date constructed: 1988
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PICTURE

Apartment in Mito City

2009-07-01T20:29:00.000-07:00

Bidding duration: July 14, 2009 to July 21, 2009
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Nearest stations from the foreclosed property:
JR Joban line mito station (ＪＲ常磐線　水戸駅　南西方) - 2.8 Kilometers
ＪＲ常磐線　偕楽園駅　南方 - 1.42km
ＪＲ水郡線　水戸駅　南西方 - 2.35km
鹿島臨海鉄道線　水戸駅　南西方 - 2.35km
ＪＲ水郡線　常陸青柳駅　南西方 - 3.71km
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PROPERTY DETAILS:
Case No: 2009 (ke) 158
Clearance standard price: 8,068,000 JPY
Address: Mito shi, senba-chou (水戸市千波町字千波原２８０５番２１)
Category: Lot
Room floor area/space: 194.98 Square meters
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Category: Building
Room floor area/ space: 1st floor - 55.85 Square meters; 2nd floor - 23.18 Square meters
Room No.: 2805 No. 21
Date constructed: 1978
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PICTURE

Apartment in Sumida-ku, Kamesawa

2009-07-01T04:09:00.001-07:00

Bidding duration: July 9, 2009 to July 16, 2009
Projected yield: 12% (In case of bid at Clearance standard price)
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Nearest stations from the foreclosed property:
Toei Oedo line ryogoku station (都営大江戸線　両国駅) - 0.15 Kilometers
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PROPERTY DETAILS:
Case No: 2008 (ke) 1785
Clearance standard price: 9,150,000 JPY
Address: Sumida-ku, Kamesawa 1 chome (墨田区亀沢一丁目１９番地６)
Category: Apartment
Room No.: 803
Room floor area/space: 22.97 Square meters
Date constructed: 2008
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PICTURE

Apartment in Bunkyo-ku, Otsuka

2009-07-01T03:59:00.000-07:00

Bidding duration: July 9, 2009 to July 16, 2009
Current Rental fee: 60,000 JPY
Projected yield: 16% (In case of bid at Clearance standard price)
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Nearest stations from the foreclosed property:
Yurakucho line gokokuji station (東京メトロ有楽町線　護国寺駅) - 0.56 Kilometers
東京メトロ丸ノ内線　茗荷谷駅　北西方　約 - 0.53km
（道路距離、徒歩約７分）東京メトロ丸ノ内線　新大塚駅　南東方　約 - 0.56km
（道路距離、徒歩約７分）参考交通都電荒川線　向原駅　南東方 - 1.16km
都電荒川線　大塚駅前駅　南方 - 1.23km
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PROPERTY DETAILS:
Case No: 2008 (ke) 3249
Clearance standard price: 4,350,000 JPY
Address: Bunkyo-ku, Otsuka 3 chome
Category: Apartment
Room No.: 302
Room floor area/space: 11.93 Square meters
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PICTURE

Apartment in Meguro-Ku, Ohashi

2009-06-30T20:18:00.000-07:00

Bidding duration: July 9, 2009 to July 16, 2009
Current Rental fee: 69,000 JPY
Projected yield: 38% (In case of bid at Clearance standard price)
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Nearest stations from the foreclosed property:
Denentoshi line ikejiri oohashi - 0.35 Kilometers
京王井の頭線　神泉駅 - 0.81km
京王井の頭線　駒場東大前駅 - 0.91km
東京メトロ日比谷線　中目黒駅 - 1.24km
東急東横線　中目黒駅 - 1.24km
東急東横線　代官山駅 - 1.42km
>>
PROPERTY DETAILS:
Case No: 2008(ke) 2793
Clearance standard price: 2,130,000 JPY
Address: Meguro-ku, Ohashi 1 chome (目黒区大橋一丁目３８１番地２)
Room No.: 909
Room floor area/space: 13.80 Square meters
Date constructed: 1976
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PICTURE

Our Client won the bidding in Nagano property

2009-06-28T18:42:00.000-07:00

Story of Our Client who successfully won the bidding of apartment property in Nagano.

The property bidding amount is JPY 1,640,000.

At first, we asked him to deposit the guarantee money of JPY 242,000 (this is required to be able to make bid). Then he transferred the money thru PayPal. Since he doesn't have complete documents required by Court Office during that time, We temporarily registered the property right named to our Company. Then, we informed him that we are required to pay the tax registration and license tax for a couple of months. After we recieve the document of his property from Court Office, we applied for the transfer of property to his name (Judicial scrivener office made the transactions).

After a couple of days, we received the certification of registration. Then, we asked him to pay the remaining balance. JPY 1,640,000 - 242,000 = JPY 1,398,000.

The next step would be our negotiation with the former owner of the property. If there is a need to go and visit the actual property, we then asked him to pay JPY 100,000. In some cases, the former owner will demand money for their smooth move-out. Otherwise, we will proceed with compulsory move-out process which usually take about JPY 1 Million. But, this time, we are in the process of negotiating with the former owner. The result will be announced later.

Summary of his payments:

1. JPY 200,000 - approximate tax registration, license tax, etc. (Property right registered to our Company name)

2. JPY 200,000 - approximate tax registration, license, etc. (Property right transferred to his Company name)

3. JPY 1,000 - Bidding process (sending documents to Court Office)

4. JPY 40,000 - Acquisition of detailed documents of the Property

5. JPY 40,000 - Transfer of property right to his Company name

6. JPY 1,000 - Certificate of registration

7. JPY 100,000 - Charge fee of the actual visit to the property (If necessary)

8. JPY 100,000 - Basic assistance fee.

9. JPY 1,398,000 - Balance bidding amount

10. Total remaining balance: JPY 2,081,790

Renting an apartment

2009-06-25T07:44:00.000-07:00

Hello,everyone.
We know that some of you are planning to live in Japan. In such cases, you will look for an apartment to rent. But in order to rent an apartment, you are required to find a guarantor (who will pay your rent fee when you are not able to pay for it) who is currently living or working here in Japan.
Moreover, the landlords are not willing to rent out their apartment to foreigners. It is because they have impression that foreigners will just make noise, disturb and make trouble with other residents.
If you think you have enough money, why don't you buy an apartment? As you know, apartment rental fee in Japan is very expensive. In fact, you can buy real estate via forelosed property auctions in a very reasonable price. Many foreigners live in Minato ku. But I want to recommend that you should not live in such area for many inconvenient reasons. There are more comfortable and convenient places that you can consider. - Akiyama

Tokyo Apartment in Meguro

2009-04-30T05:45:00.000-07:00

Past Listings.
Bidding duration: May 12, 2009 to May 19, 2009
Current Rental fee: 129,000 Yen
Projected yield: 12.8% (In case of bid at Clearance standard price)
Minimum bidding price: 9,672,000Yen = 96,720 US Dollar
>>
Nearest stations from the foreclosed property:
JR Line Meguro Station Southwest forward 0.67 Kilometers
>>
PROPERTY DETAILS:
Date opened for public: April 24, 2009
Bid Opening date: May 26, 2009
Clearance decision date: May 29, 2009
Case No: 2008(ke) 2322
Clearance standard price: 12,090,000 Yen
Guaranteed purchase amount: 2,418,000 Yen
Minimum bidding price: 9,672,000 Yen
Building Category: Apartment
Property No.: 1Lot No.: (目黒区下目黒二丁目４００番地２) 2 Choume 400 Banchi 2 Shimomeguro, Meguro Ward
Room No.: 705
Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 40.65 Square meters
Room arrangement: 1 dining room,1 kitchen
With Balcony: Yes
Occupancy: With occupants(debtor,present owner)
Property rights on lot: Ownership
Date constructed: 1975
Floor No.: 7th Floor
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PICTURE

Tokyo Apartment in Shibaura

2009-04-25T02:55:00.000-07:00

Past Listings.
Bidding duration: April 24, 2009 to May 7, 2009
Current Rental fee: 93,000 Yen
Projected yield: 16.4% (In case of bid at Clearance standard price)
Minimum bidding price: 5,432,000 Yen = 54,320 US Dollar
>>
Nearest stations from the foreclosed property:
JR LineTamachi　Station　East　forward　0.7 Kilometers
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PROPERTY DETAILS:
Notification date： April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: 2008(ke)2074
Clearance standard price: 6,790,000 Yen
Guaranteed purchase amount: 1,358,000 Yen
Minimum bidding price: 5,432,000 Yen
Building Category: Apartment
Property No.: 1
Lot No.: 2　Choume 1 Banchi 53 Shibaura Minato Ward
Room No.: 703
Type: Residencial
Building Structure: Iron and concrete
Room floor area/space: 19.22　Square meters
Room arrangement: 1 living room
With Balcony: Yes
Occupancy: With occupants
Property management fee per month: 14,900 Yen
Property rights on lot: Ownership
Date constructed: August 2001
Floor No.: 7th Floor
No. of Doors in the entire building: 59 doors
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PICTURE

Tokyo Apartment in Ginza - Akasaka

2009-04-23T05:01:00.000-07:00

Past Listings.
Very wide luxurious apartment of 255.25 Square meters
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 43,984,000 Yen = 439,840 US Dollar
>>
Nearest stations from the foreclosed property:
Ginza line Aoyama Icchome Station Southeast forward 0.5 Km
>>
PROPERTY DETAILS:
Notification date：April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: 2008(ke)1030
Clearance standard price: 54,980,000 Yen
Guaranteed purchase amount: 10,996,000 Yen
Minimum bidding price: 43,984,000 Yen
Building Category: Apartment
Property No.: 1
Lot No.: 7 choume 268 banchi akasaka minato ward
Room No.: 301 Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 255.25 Square meters
Room arrangement: 1 dining room,5 living room,1 kitichen
With Balcony: No
Occupancy: With occupants(debtor,present owner)
Property management fee per month: around 265,000 Yen
Property rights on lot: Ownership
Date constructed: September 1969
Floor No.: 3rd Floor
No. of Doors in the entire building: 25 doors
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PICTURE

Tokyo Apartment in Hamamatsuchou

2009-04-15T04:54:00.000-07:00

Past Listings.
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 5,144,000円 = 51,440 US Dollar
>>
Nearest stations from the foreclosed property:
Asakusa line Daimon station North forward 0.27 KM
>>
PROPERTY DETAILS:
Notification date： April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: 2008(nu)126
Clearance standard price: 6,430,000円
Guaranteed purchase amount: 2,572,000円
Minimum bidding price: 5,144,000円
Building Category: Apartment (share of 8/21)
Property No.: 1
Lot No.: 1 choume 115 banchi 14 Hamamatuchou Minato ward
Room No.: 501
Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 37.3 Square meters
Room arrangement: 2 dining room,1 kitichen
With Balcony: Yes (3.65 Square meters)
Occupancy: With occupants
Property management fee per month: 15,600円
Property rights on lot: Ownership
Date constructed: Nov 1981
Floor No.: 5th Floor
No. of Doors in the entire building: 18doors
>>
Building Category: Apartment (share 8/21)
Property No.: 2
Lot No.: 1 choume 115 banchi 14 Hamamatuchou Minato ward
Room No.: 202
Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 32.04 Square meters
Room arrangement: With Balcony: Yes (6 Square meters)
Occupancy: With occupants (debtor,present owner)
Property management fee per month: 17,520円
Property rights on lot: Ownership
Date constructed: Nov 1981
Floor No.: 2nd Floor
No. of Doors in the entire building: doors 18 doors
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PICTURE

Tokyo Apartment in East Azabu Minato

2009-04-15T04:06:00.001-07:00

Past Listings.
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 8,872,000円 = 88,720 US Dollar
Current Rental fee: 97,000円
Projected yield: 10.4% (In case of bid at Clearance standard price)
>>
Nearest stations from the foreclosed property:
Nanboku Line / Ooedo Line Azabujuuban Station (.0.13 KM)
>>
PROPERTY DETAILS:
Notification date： April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: 2008(ke) 2070
Clearance standard price: 11,090,000円
Guaranteed purchase amount: 2,218,000円
Minimum bidding price: 8,872,000円
Building Category: Apartment
Property No.: 1
Lot No.: 3 choume 10 banchi 9　Higashi azabu Minato ward
Room No.: 503
Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 18.14 Square meters
Room arrangement: 1 kitichen
With Balcony: Yes
Occupancy: With occupants (tenant)
Property management fee per month: 12,740円
Property rights on lot: Ownership
Date constructed: September 2002
Floor No.: 5th Floor
No. of Doors in the entire building: 51 doors
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PICTURE

Tokyo Apartment in Nihonbashi Hamacho

2009-04-14T05:39:00.001-07:00

Past Listings.
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 11,824,000円 = 118,240 US Dollar
Current Rental fee: 145,000円
Projected yield: 11.7% (In case of bid at Clearance standard price)
>>
Nearest stations from the foreclosed property:
Toei shinjuku line Hamachou Southeast forward 0.45KM (apploximately 6 minutes by walk)
>>
PROPERTY DETAILS:
Notification date： April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: 2008(ke)1431
Clearance standard price: 14,780,000円
Guaranteed purchase amount: 2,956,000円
Minimum bidding price: 11,824,000円
Building Category: Apartment
Property No.: 1
Lot No.: 3 chome 33 banchi 3 Nihonbashi hamacho Chuo ward
Room No.: 1003
Type: Residencial
Building Structure: Iron and concrete
Room floor area/space: 37.78 Square meters
Room arrangement: 1 dining room, 1 living room, 1 kitchen
With Balcony: Yes
Occupancy: With occupants(Tenant can be negotiated for smooth move-out)
Property management fee per month: 17,100円
Property rights: Ownership
Date constructed: May 2006
Floor No.: 10th Floor
No. of Doors in the entire building: 35 doors
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PICTURE

Tokyo Apartment in Shintomi

2009-04-12T03:45:00.000-07:00

Past Listings.
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 10,704,000円 = 107,040 US Dollar
Projected rental fee per month: 110,000円
Projected yield: 9.8% (In case of bid at Clearance standard price)
>>
Nearest stations from the foreclosed property:
Tokyo Metro Yurakuchou Line - Shintomi chou Station (NorthEast 0.25KM)
Other nearest stations:
Asakusa Line Takarachou station Southeast ward 0.42km
Tikiji station Nouth ward 0.44km
Hibiya LIne / Keiyou Line Hacchoubori Southwest 0.45km
Ginza Line Kyoubashi Southwest 0.62km
>>
PROPERTY DETAILS:
Notification date：April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: (ke) 3278 in 2008
Clearance standard price: 13,380,000円
Guaranteed purchase amount: 2,676,000円
Minimum bidding price: 10,704,000 Yen
Building Category: Apartment
Property No.: 1中央区新富一丁目９番地１３
Lot No.: 1 choume 9 banchi 13 Shintomi Chuo ward
Building House No.: Shintomi 1-9-13-402
Room No.: 402
Type: Residencial
Building Structure: Iron and concrete
Room floor area/space: 39.13 Square meters
Room arrangement: 1 dining room, 1 living room, 1 kitichen
With Balcony: 2 Square meters
Occupancy: With occupants(debtor,present owner)
Property management fee per month: 15,600円
Property rights on lot: Ownership
Date constructed: June 1, 2007
Floor No.: 4
FloorNo. of doors in the entire building: 19doors
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PICTURE

Tokyo Apartment in East Nihonbashi

2009-04-11T16:44:00.000-07:00

Past Listings.
Current Monthly Rental Fee: 151,000円
Projected yield:13.8% (In case of bid at Clearance standard price)
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 10,448,000円 = 104,480 US Dollar
>>
Nearest stations from the foreclosed property:
Toei Asakusa LineHigashinihonbashi East forward 0.32 km (4 minutes by walk)
>>
PROPERTY DETAILS:
Notification date: April 9, 2009
Date opened for public: April 9, 2009
Bidding period: April 24, 2009 to May 7, 2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: .(ke) 1939 in 2008
Clearance standard price: 13,060,000円
Guaranteed purchase amount: 2,612,000円
Minimum bidding price: 10,448,000円
Building Category: Apartment
Property No.: 1
Lot No.: 1 choume 13 banchi 7 higashinihonbashi chuo ward
Building No.: higashinihonbashi13-7-1002
Room No.: 1002
Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 37.96 Square meters
Room arrangement: 1 Dining room, Living room and Kitchen
With Balcony: Yes
Occupancy: With occupants(tenant)
Property management fee per month: 19,300円
Property rights on lot: Ownership
Date constructed: August 2004
Floor No.: 10th Floor
No. of Doors in the entire building: 42 doors
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PICTURE

Tokyo Apartment in Ginza

2009-04-11T07:46:00.001-07:00

Past Listings.
This is absolutely a profitable real estate.
Bidding duration: April 24, 2009 to May 7, 2009
Minimum bidding price: 456,704,000円 = 4,567,040 US Dollar
>>
Nearest stations from the foreclosed property:
Tokyo metro Hibiya Line Higashi Ginza ST North Forward -> 0.15Km (2 minutes by walk)
Toei asakusa line Higashi Ginza ST North Forward -> 0.15Km (1 minute by walk)
(Distance in kilometer is commonly used in Japan)
>>
PROPERTY DETAILS:
Notification date: April 9, 2009
Date opened for public: April 9,i2009
Bid Opening date: May 14, 2009
Clearance decision date: May 19, 2009
Case No: (ke) 2038 in 2008
Clearance standard price: 570,880,000円
Guaranteed purchase amount: 114,176,000円
Property No.: 1
Category: lot
Lot No.: 4 choume 202 ban 30 Ginza Chuo Ward
Classification of land: building
Lot area/ space: 78.71 Square meters
Coverage: 80%
Floor space index: 800%
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Property No.: 2
Category: building
Building No.: 4 choume 202 banchi 30 Ginza Chuo Ward 202 ban 2
Type: Shop; Office
Building Structure: Steel frame, iron and concrete; 10 storey with 1 basement
Room floor area: 1st to 10th
1st Floor: 41.92 Square meters
2nd Floor: 52.93 Square meters
3rd up to 9th floor: 55.01 Square meters
10th Floor: 55.51 Square meters
Basement: 59.28 Square meters
Room arrangement: Shop x 8; Office x 2; Studio; Classroom; Warehouse; Relaxation room
Occupancy: With occupants(tenant)
Date constructed: July 2007
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PICTURE

Vacant Lot Property

2009-04-11T02:55:00.000-07:00

Past Listings.
Bidding Duration: April 24, 2009 to May 1, 2009
Minimum bidding price: 38,300,000円 = 383,000 US Dollar
>>
Nearest stations from the foreclosed property:
Toei Shinjuku Line Bakuroyokoyama East forward 0.15kilo(2minutes by walk)
>>
PROPERTY DETAILS:
Notification date: April 4, 2009
Bidding period: April 24, 2009 to Bid
Opening date: May 14, 2009
Clearance decision date: May 14, 2009
Case No: No.(ke) 73 in 2007
Guaranteed purchase amount: 7,660,000円
Category: Lot space Property
No.: 1
Lot No.: 3chome5banchi4 Higashinihonbashi Chuo ward
Classification of land: building lot
Lot area/space: 66.10 Square meters
Coverage: 80%
Occupancy: vacant lot
Floor space index: 600%
>>
Category: Lot space
Property No.: 2-1
Lot No.: 3 chome5banchi 17 Higashinihonbashi Chuo ward
Classification of land: building lot
Lot area/space: 66.11 Square meters
Coverage: 80%
Ratio of share: 8/10
Occupancy: vacant lot Floor space index: 600%
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PICTURE

Tokyo Center Apartment

2009-04-02T05:06:00.000-07:00

Winning bid amount: 15,010,000 JPY
Unpaid management fee: 500,000 JPY
Yield computation: 80,000 JPY x 12 / (15,010,000 JPY + 500,000 JPY) = 6 percent
>>
Bidding duration: April 9, 2009 to April 16, 2009
Minimum bidding price: 7,080,000円 = 70,800 US Dollar
>>
Nearest stations from the foreclosed property:
Tokyo Metro Hanzomon Station
Suitenguumae Station　(West) > 0.12km; about 12mins walk from the main road
Other nearest stations:
Tokyo Metro Tozai Line　Kayabachou Station　(East) > 0.54km
Tokyo Metro Hibiya Line　Kayabachou Station　(East) > 0.54km
Tokyo Metro Hibiya Line　Ningyochou Station　(SoutEast) > 0.6km
Toei Asakusa Line　Ningyochou Station　(SoutEast) > 0.6km
Toei Shinjuku Line　Hamachou Station　(SoutWest) > 0.82km
(Distance in kilometer is commonly used in Japan)
>>
PROPERTY DETAILS:
Notification date: March 25, 2009
Date opened for public: March 25, 2009
Bidding period: April 9, 2009 to April 16, 2009
Bid Opening date: April 23, 2009
Clearance decision date: April 28, 2009
Case No: No.(ke) 1541 in 2008
Clearance standard price: 8,850,000円
Guaranteed purchase amount: 1,770,000円
Minimum bidding price: 7,080,000円 or 70,800 USD
Building Category: Apartment
Property No.: 1
Building Lot No.: 日本橋蛎殻町一丁目３４番２０の３０５ f USD
Building House No.: 中央区日本橋蛎殻町一丁目３４番地２０、３４番地２５
Room No.: 305
Type: Residencial
Building Structure: Steel frame, iron and concrete
Room floor area/space: 17.45 Square meters
Room arrangement: 1K
With Balcony: Yes
Property management fee per month: 10,350円
Property rights: Ownership
Occupancy: With occupants
Date constructed: January 2004
Floor No.: 3rd Floor
No. of Doors in the entire building: 52 doors
>>
PICTURE

FAQ

2009-03-25T23:44:00.000-07:00

Question: What to consider before buying a foreclosed property?

Answer: Below are the essential information that you need to consider before buying a foreclosed property:

1. Inspect the place - You should check the actual place and location.

2. The inspection officer or appraiser have already done the actual inspection but you should not rely on that, it was inspected several months ago so the current condition of the property might already changed.

3. Be careful. There are some cases, that during the inspection of the officer or appraiser there is no tenant occupying the property but after a week or month, there is an illegal occupant exist in the property. This is because, the illegal occupant would want to take advantage and ask for move-out charge from the successful bidder of that property. So, you should carefully check the history of inspection.

4. There are two important ways in inspecting the foreclosed property:

4.1 Go to the place and check if there is an occupant or existing tenant.

4.2 Go to goverment office and check the article for public display of foreclosed properties.

Note: You have to check the present condition of the property.

5. Look for potential foreclosed property.

6. See if what is your first impression of the property. You may feel the worth of that property.

7. Ambience of the property should also be considered.

8. Observe and investigate the existing occupant. Are they working in weekdays or weekends? Is there a sick person in the occupants? (Occupant who are sick or elder person may affect the compulsory move-out process)

9. To know more about the property, you should consult with the neighborhood.

10. Is the occupant a debtor or legal owner? You should check through telephone directory.

11. Knowing all about the property condition and it's existing occupants will help in negotiation after you get a successful bid. So that you can easily negotiate the smooth move-out of the existing occupants.

Note: Above mentioned process are necessary for every bidder and that is why Mizushima Co. is here to help you in every process.

Question: Where can I buy a foreclosed property?
Answer: The regional jurisdiction court that takes care with investigation for buying of the foreclosed properties. For instance, if the foreclosed property is under Tokyo Ward No. 23, The Tokyo District Court Civil Affairs will take care of all the buying process of that property.

>>
Question: How can I get information about foreclosed properties?

Answer: Different regional courts provide the information about foreclosed properties through their website. Please visit http://bit.sikkou.jp/ (This is Tokyo region home page. Contents are all written in Japanese, but if you wish to help you with the translation, please just email us and it will be our pleasure to assist you); Also, there are some companies that provide information about foreclosed properties. However, the complete details are not usually posted.

Question: What if the property was occupied by other individual after successful bid? How sure that I can move-in without any problem?

Answer: The process of negotiating with the existing occupant needs to undergo with legal proceedings. Moreover, it can be easily done by applying due process with court office.

If you found some potential properties from other website's listing, just let us know how we can help and we will assist you in getting more specific and detailed information about that property.

Question: What does "Case Number" mean?

Answer: It is the sequence/ event number issued by the court official in any certain judicial process. Of course, this is not a case number that is referring to any murder case. This is referring to a legal procedure from where you can easily buy foreclosed properties with very practical and low price. Moreover, it is the legal process of dealing with the person who failed to payback the borrowed money in order to secure the property mortgage.

This procedure has been declared in Article No. 1 in 2009. Thus, all the court proceedings or issues concerning with foreclosed property must undergo with this procedure.

Question: What are the necessary fees and charges?

Answer: These are the necessary fees:

1. Expense for the smooth move-out of the existing tenants or owner.

1.1 When a bidder directly negotiate the voluntary move-out of the existing tenants or owner, the expense amount is aproximately 3,000 USD to 10,000 USD.

1.2 When a bidder apply for compulsory move-out of the existing tenants or owner in the court office, the expense amount is approximately 10,000 USD to 20,000 USD.

2. The fee amount of compulsory move-out may vary depending on the location, size of the unit, material used, apartment/mansion with or without elevator.

3. Default management fee and maintenance/ renovation fee. It is declared in Japan law that successful bidder or buyer needs to pay the debt of former owner concerning with the foreclosed property.

4. Realtor fee. This fee is for the renewal of lease contract.

5. Repair of the unit or property. It depends on the preference of the successful bidder or buyer.

In case of apartment to be used for investment purposes:

1. Key money or deposit

In property details "3. other rights to which a buyer should succeed from the former owner" section, the buyer should also succeed at public sale of former owner same as to a lessor's position. If the lessor paid key money to the former owner, the buyer should repay that key money to the lessor.

2. Processing fee for the renewal of lease contract

Buyer should pay the realtor or broker for the renewal processing of the lease contract.

3. Renovation fee

Buyer needs to have enough funds for the renovation of the apartment or property.

Note: This rule will not be applied to lease contracts that was made after April 1, 2004

4. Miscellaneous:
4.1 Registration tax
4.2 Postal stamp
4.3 Loan processing fee, if any.
4.4 Fee for changing the unit key. This will cost 100 USD.
4.5 Unit renovation or remodelling fee, if any.
4.6 Acquisition tax
4.7 Agent assistance fee. Usually we only get 3% upto 6% of the property amount. We use the very low and standard assistance fee.
- Other fees might exist on case to case basis.

Question: If I made successful bid amount in the bidding, do I have the right to remove or return the belongings of the existing occupants?

Answer: Basically, We cannot dispose the belongings of the existing occupant without their permission because what we bid is just the real-estate property. They still owned their belongings. So, we need to ask them to remove their belongings by themselves. But, if the existing occupant refuse to remove their belongings due to some reasons, we need to pay the amount of their belongings or purchase it from them. This amount will be charged to the successful bidder.

The reason why we need to purchase or pay the amount of their belongings is to avoid from doing compulsory execution through court Office. Removal of belongings through compulsory execution will take high amount of money, in such cases you need to pay about 1,000,000 yen. But, if we successfully remove their belongings by paying them directly, you may spend about 200,000 yen or less.

Our Profile

2009-03-18T06:17:00.000-07:00

We are a Filipino and Japanese businessmen with common knowledge and interest on Real-estate; work together to provide service solution to foreign citizens and/or investors.

T. Akiyama, A Japanese lawyer and property consultant. Graduated in a university with major in Law. He took up and passed the judicial scrivener test when he was 23 years old. After finishing his studies, he started to work as a real estate property consultant specifically in balance settlement; by that time, his main work is to confirm if the document for changing the owner's name of real-estate is completely registered. Furthermore, he is also helping investors to borrow or apply a loan from the bank, arrange all procedures in processing the mortgage of the real-estate.

J. Atejera, A Filipino IT professional. He took up BS in computer science and graduated at Cavite Philippines. He has more than 8 years of work experience in Filipino-Japanese IT Industry. Handled several project assignments at Yokohama, Tokyo and Okinawa. With expertise in project coordination between Client and the Organization. He took up and passed the Japanese Language Proficiency Test (JLPT) for levels 2, 3 and 4. And a series of J-Test quarterly examinations. In 2007, he started to venture and make research on Real Estate investments. He holds now a condominium property at McKinley Hills, Fort Bonifacio, Taguig Philippines and two lot properties at Grand Royale, Bulacan Philippines. His passion in real-estate investment helped him understand what are the key-areas that affects the performance of real-estate.

Our service towards your trust and satisfaction

2009-03-16T08:02:00.000-07:00

We are committed to help you in finding more practical and affordable foreclosed properties in Japan. Our objective is to help you get a wise bidding price and smoothly acquire your desired property.

We do careful research and investigation of the properties before presenting to our valued customers. Systematically, We put to organize all the requirements and legal procedures according to the rules & regulations defined in Japan Constitution/Law.

With our ability to search for a good condition foreclosed properties, you will be rest assured that your bid amount will take place without additional charges from any middlemen/agents. We purely do complete assistance from finding your desired property, get competitive bidding price, transfer of legal documents and smooth move-in after purchase.

PROCESS OF AUCTION.

1) Information about foreclosed property is published in newspaper.
2) Details of foreclosed property is published at court office within 29 days.
You can see the details of foreclosed properties by getting a copy from court office. Or, you can check their website http://bit.sikkou.jp/. We can examine the building standard law and other legal issues. We can also check the actual situation of occupants. If you want to loan a money, we can also introduce some lenders. In this case, we will charge you 20,000 yen per auctioned property.
3) Bidding duration.
You have to deposit the 20% bidding standard price at the court office. For instance, if the bidding price is 1,000,000 yen, you have to deposit 200,000 yen. Moreover, If you bid by your company name in your own country, you need to provide the public document. If you bid by your name, you have to provide the official document (e.g. Certification of notary public). In this duration, we will bid in behalf of you. We will prepare all the necessary documents for the bidding process. We will inform you on how much will be the most practical amount to bid. Also, we will inform you of other expenses.

4) Opening date is one week after the last day of bidding duration.

In case of term bidding, If you make a highest bid amount, you can buy the real estate property. In case of special bidding, the first bidder can able to buy the real estate property. If you cannot make a successful bid, your deposit money will be returned back to your account. We can provide a bank account, if you don't have one here in Japan.

We will inform you of the successful bidder when announced by the court office.

There are over 3,000 foreclosed properties in Tokyo in a year, So you don't need to worry if you will not successfully made a bid at one time. Be patient and surely you will get a successful bid anytime from 6 months to 1 year.

In Fukuoka there are about 1,500 foreclosed properties in a year. In north of Kyuushuu there are about 1,000 foreclosed properties are being published in a year. It is ideal to expect that you will get a successful bid not at one time but still you have more chances up to 1 year.

5) Clearance decision date is one week after the opening date.

Clearance decision will be made as long as the successful bidder is a qualified person.

6) Settlement of clearance decision is one week after clearance decision date.

Clearance decision is settled as long as there is no one who protest against the decision. We will confirm the result and keep you posted.

7) Duration of payment of settlement money (one week after item no. 6).

Bidder can get a copy of duration notice and document for transfer of your money to the court office.

8) Payment of the balance and registration of ownership (within 40 days after item no. 7).

Bidder have to pay the balance amount and registration tax. 10 days after the payment, you will receive the certification of ownership. This time, we will transfer your money to the court office and the necessary document when complete payment has been made.

We will now start to negotiate with the current occupant on the property. If the occupant demands a payment for move out, and the amount is reasonable, you have to pay for it.

9) Renovation of the property.

If you want to remodel or renovate the property, we can recommend or introduce to you a construction professionals.

BASIC EXPENSES:

1) Guaranteed/deposit money to make bid (20% of the bidding amount).

2) Balance money to complete the bid amount (remaining 80% after successful bid).

3) Registration tax, acquisition tax and other taxes.

4) Management fee of apartment (If any).

5) Cost for the maintenance/renovation of apartment (If any).

6) Payment for former owner's debt (property related debts) to landlord.

7) Compulsory move-out fee (If necessary).

8) Legal proceedings fee (If applicable).

9) Coordination and research fee. Minimum of JPY 250,000.

10) Standard assistance service fee. Minimum 6% of the successful bid amount.

11) Total service fee = 9) JPY 250,000 + 10) 6% of the successful bid amount.

http://foreclosedjapan.jimdo.com/about-our-fee/

SCHEDULE OF PAYMENT:

1) 20% deposit should be provided on or before the bidding due date.

2) Remaining 80% balance, registration tax fee and 50% of total service fee should be provided within 1 month after the successful bid.

3) Remaining 50% of the total service fee should be provided after the property title has been acquired.

4) Acquisition tax and property tax should be provided from 3 to 6 months after the successful bid.

ADDITIONAL INFORMATION:

1. You can bid 80% above the bidding standard price.

2. If we are not able to expell the existing occupant by voluntary move-out negotiation, we will make an allegation of the writ of deliverance. We will prepare the necessary document in court office and submit to court house.

3. When the writ of deliverance has been decided and approved, we will submit it to the execution office to expell the occupant by compulsory move-out. In this case, it will take a cost for the compulsory execution. Remove furnitures and other belongings (it needs to rent a warehouse). Buyer will be required to pay the actual expenses.

4. When inspecting the foreclosed property, buyer should pay the actual expenses other than 20,000 yen.

5. In case that there are no occupants on the foreclosed property, the charge fee is lower than the items specified above (In case of property with existing occupants).