Flow
Below is flow of procedures required in the transaction process
from the purchase to the delivery of a condominium unit:
-
01
Initial Consultation
Introducing the suitable property base on your
- Budget
- Location
- Unit layout and purpose
-
02
Visit
Make an appointment to visit the Showroom
- Consultation in Japan
- Online consultation (Video meeting via Zoom)
-
03
Purchase Application
Request
- Decide on a property and confirm the financial plan
- Check the sales schedule
- Submit your request of purchase willing
Register
- Submit the application to register the unit you wish to purchase.
- Provide the copy of purchaser's identification documents
- A lottery is held if the number of registrants is more than one.
Purchase Application
- Submit the Purchase Application
- Identity Check
For the “first-come-first-served” unit, you can apply for purchase without lottery.
-
04
Deposit
Before signing the contract, you need to pay
- 10% of the purchase price as a down payment
- Stamp fee for contract, remittance handling fee
Only accept the remittances under contractor's name and cash is not available.
-
05
Contract
- The deposit must be received before the contract date
- Understand the important matters, sign the contract, and fill out all relevant documents.
-
06
CUSTOM EYE'S
Mitsubishi Estate Group's design company will assist with the following services:
- The color selection
- Upgrade or additional in-room equipments
- Individual design changes according to customer's requests
- Order furniture and home appliances
Please note that these services may not apply due to the construction timeline or property restrictions.
-
07
Preparation for Closing
- Prepare necessary documents before property closing or move-in
- Unit preview
-
08
Payment of Balance and Other Expenses
Remitting the balance and other expenses before closing base on the invoice.
- 90% for balance
- Other expenses: relevant taxes, registration fees, management reserves, remittance handling fees, etc.
- Submit the necessary documents for registration to the judicial scrivener, and they will check your ID
Only accept the remittances under contractor's name. Please make sure that the payment shall be settled before the closing date.
-
09
Closing and Move-in
- Confirm the final payment for closing
- Move-in on assigned date.
Allowing to complete the above procedures via online meeting may differ from the country you live. We will confirm this individually during the Initial Consultation.
Taxes and Fees
- Selling Price
- The price is not negotiable. Prices will be disclosed before sales start.
- Stamp Tax
- Depending on the selling price, the tax will be 10,000 yen, 30,000 yen, or 60,000 yen or more.
- Registration Fee
- Including registration fee, license tax, and judicial scrivener commission fee (the latter is subject to consumption tax).
- Management Fund and Repair Reserve Fund
- These funds are paid in advance to the management association and are used to hire a management person(s), outsource a cleaning company, and cover other expenses. The funds are collected only once at the time of purchase of the unit and are not refundable at the time of resale.
- Real Estate Acquisition Tax
- Tax breaks are available based on the unit size. The invoice will be sent around 6 months after closing.
- Consumption Tax on Housing
- Only apply while the seller is a company. The consumption tax is usually included in the selling price.
- Property Tax and City Planning Tax
- The owner on January 1 is the taxpayer. The billing date is usually around March to June but will differ depending on the city where the unit is located. For the closing year, the tax is base on daily calculation.
- Remittance Fee
- Overseas remittance is subject to a handling charge and should be paid by the remitter.
Based on the Japan Real Estate Brokerage Act, the brokerage fee is 3% of the selling price + 60,000 yen with consumption tax
