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2023/7/23 Article

Common practices when buying and selling real estate in Japan



-Do sellers need to refurbish their properties when selling?
In Japan, basically real estate properties will be handed over in “as-is” condition.
Therefore, buyers should do the refurbishment, repairment of facilities and equipment, and house cleaning by themselves if needed.
When viewing, it is very important to carefully check not only the neighborhood of the property but also the condition of its interior and exterior.

-How much the deposit should be?
Generally 5-10% of the sale price, but it depends on the seller’s intention.
Until the deadline set out on the agreement, both seller and buyer may cancel the transaction by forfeiture of the deposit.

-Who will prepare the contract and other related documents?
At most cases, real estate agents prepare the documents.

There may be many other practices that differ from those in your country.
Mitsui Fudosan Realty will support you in every detail.