Flow & Services

The purchasing flow and the types of services you may need depends on factors such as where you live, your ability to communicate in Japanese, and your intended use of the property. Below are the steps that you need to take, and the services that you may need, in order to successfully purchase a property in Japan.

Please note that KORYOYA is not a real estate company but a portal site that connects the buyer to the local real estate agent and the owner. KORYOYA does NOT provide services for purchasing Akiya houses registered on the Akiya banks of each city..

Purchase Flow

Below are the standard steps for purchasing real estate properties in Japan.

1. Inquiry

Use the contact form on the property page and send us an email for any questions you have regarding a particular property. We can also connect you to the local real estate agent if you wish to communicate with the agent directly. (Please note that most real estate agents can only communicate in Japanese)

2. Property Viewing

Please make arrangements with the local real estate agent direclty for property viewing. Online property viewing may be available for some properties, but we strongly recommend you (or someone on your behalf) to visit the property in person to avoid any misunderstanding or trouble later on.

If you live overseas...

If you cannot travel to Japan to visit the property yourself, please have someone (friends, family members, colleagues, etc) who is able to make arrangements with local real estate agent and visit the property on your behalf.

If you cannot make it to Japan yourself and does not have anyone to view the property on your behalf, we can visit the property on your behalf with a fee.

Please note that some agents do not accept purchase application from buyer who has not visited the property himself/herself in person.

3. Purchase Application

After property viewing

Once you have decided to purchase a property after viewing, the next step is to submit a “Letter of Intent (LOI)”. LOI is a non-binding letter that expresses your interest in purchasing, which also lays out the terms and conditions including your expected property price, payment procedure, etc. LOI is provided by the local real estate agent, and can be submitted by hand, airmail, E-mail or FAX.

Note that the seller reserves the right to decline the LOI or break off the negotiation if an agreement cannot be reached regarding any of the conditions proposed by either party.

4. Contract Signing

1-2 weeks after LOI

When both parties reached an agreement to make a contract, local real estate agent will prepare all the contract documents (written in Japanese only) and send them to you so that you can review the contract conditions in advance. The agent will explain the terms and conditions of the contract in Japanese prior to the signing (This procedure is in accordance to limitation of Building Lots and Buildings Transaction Business Act).

Upon making the contract, you will need to pay an earnest money deposit which is usually around 10% of the purchase price. This deposit is a portion of the overall payment for the property, and will also act as a guarantee deposit for penalty that may be incurred. The payment should be made in Japanese YEN via cash at the time you sign contract OR via bank transfer by the morning of the contract-signing date.

If you live overseas...

If you cannot make it to the contract conclusion yourself, you will need someone to be your attorney and he/she can receive the explanation of contract and important matter of the property and sign on them on your behalf. You may also hire a judicial scrivener or lawyer to be your attorney.

5. Closing

2-3 weeks after Contract

You will need to make payment of remaining balance before the closing date. The closing meeting will begin by confirming your payment and issuing a receipt followed by going through all the documents on property title transfer and handover of keys. Your judicial scrivener needs to be presented at the closing meeting to register the title transfer at the Legal Affairs Bureau immediately after the meeting.

If you live overseas...

As this is the final and most important step for the property transaction, it would be the best if you can make it to the closing meeting in person.

Services

KORYOYA is not a real estate company but a curation/portal site for traditional Japanese houses. The services we can provide is limited at the moment.

Property Viewing

¥10,000 JPY/property* + Travel Expense

Viewing together

If you have difficulty communicating in Japanese and does not know anyone who speaks Japanese, we can attend the property viewing with you to ensure smooth communication with the local real estate agent or the seller while on site.

Viewing on your behalf

If you cannot make it to the property viewing in person and the local agent does not conduct online viewing, we can visit the property on your behalf and provide enough information that helps you make speedy and confident purchasing decisions. We can livestream or record the property tour upon your request.

Please note that some agents do not accept purchase application from buyer who has not visited the property himself/herself in person.
*Fee is for the first property. Second property viewing and onwards on the same day will be ¥5,000 JPY per additional property.

Why KORYOYA houses?

The traditional Japanese houses listed on KORYOYA are all built before 1950 with the traditional construction method.

The traditional method is the result of more than a thousand years of past carpenters passing down their efforts and wisdoms. As no new houses can be built with the traditional construction method under current law, the high craftsmanship is in danger of becoming a dying art.

Contact Us