Basic knowledge you need to know about real estate sales

Preparing to buy or sell real estate

Required documents when selling real estate

Registration certificate or registration identification information

Registration certificate or registration identification information is one of the documents required when selling real estate. A registered certificate is a so-called certificate of title, which is issued to the owner when the real estate is purchased or acquired.

If you have purchased or acquired real estate after 2005, registration identification information will be issued in place of the registration certificate.

Real estate sales contract and important matter explanation at the time of purchase

When selling real estate, prepare the real estate sales contract that you signed with the previous owner at the time of purchase and the important matter explanation that you received from the real estate agency.

From the real estate sales contract, you can check the contract conclusion date, delivery date, sales price, deposit amount, property status and special provisions.

From the important matter description, you can check information such as the contents of the property, transaction conditions, and notification matters.

Condominium management agreement, detailed rules of use, maintenance fee related documents

The condominium management agreement, detailed rules of use, and maintenance fee related documents are required when the real estate to be sold is a condominium owned separately.

This is a document that allows you to check the rules regarding the maintenance of the condominium and the rules of life (pet breeding, playing musical instruments, etc.).

Documents required when making a real estate purchase

Income certificates

When purchasing real estate using a mortgage, income certificates are required for pre-screening and application for a mortgage.

If the purchaser of the real estate is a salaried person, prepare a tax withholding slip, and if the purchaser is a self-employed person, prepare a tax return copy and tax payment certificate (in some cases, it may be for 3 years).

Documents required for both sale and purchase of real estate

Seal certificate and resident’s card

The seal certificate and resident’s card are required when delivering the real estate to be sold or when purchasing the real estate using a mortgage.

It may be specified that these documents must be issued within 3 months after issuance, so be careful when you get them.

Identity verification documents

Identity verification documents are required to prove that you are the true owner or purchaser of the property.

Certificates with facial photographs issued by public institutions, such as driver’s licenses and passports, are mainly used. Please note that if you have a real estate co-owner, you will need the identity verification documents for all the co-owners.

In addition to the above, the required documents for buying and selling real estate are explained in detail on the following pages.

Introducing all 17 types of documents you will need when selling a home

Necessary expenses for buying and selling real estate

  • Brokerage fee

If you buy or sell real estate through a real estate agent, you must pay a brokerage fee to that real estate agent.

The brokerage fee can be calculated as follows.

  • Transfer income tax

If you make a profit by selling real estate, capital gains tax and inhabitant tax will be levied on the gain on sale (called capital gains).

Transfer income tax will be paid by filing a final tax return by March 15 of the year following the year of sale and delivery.

  • Property tax

Property tax is a tax levied on the owner of real estate at the beginning of the year, and when delivering real estate sales, it is common for the seller and the buyer to settle the property tax according to the period of ownership in the year.

  • Stamp duty

Stamp duty is paid by attaching it to the contract at the time of the real estate sales contract.

Please note that the amount of stamp duty depends on the selling price.

In addition to the above, you can check the details of the necessary expenses for buying and selling real estate on the following page.

[Contract] Money to be aware of when selling a house [Payment]

 

Things to consider when selling real estate

How much will it sell

Real estate has the characteristic that no two things are the same, which makes it difficult to determine the price.

Usually, the selling price is determined by referring to the selling price of similar properties in the neighborhood and past contracts.

Schedule a sale

Once the sale price is decided and the real estate sale activity is started, the real estate sales contract will be concluded after disseminating property information, viewing the purchase applicants, and negotiating the sales conditions.

If you have time constraints such as relocation or replacement, check the sale schedule in advance.

Estimate various expenses etc.

When selling real estate, various costs such as brokerage fees, stamp duty, moving costs, surveying costs, and dismantling costs will be incurred.

By estimating in advance when and how much these expenses will be required, you will be able to grasp the budget and realize a smooth sale of real estate.

Things to consider when buying real estate

Here, we will explain the points and precautions to consider in advance when purchasing real estate.

  • Determine the purchase budget

First of all, it is important to decide the budget to purchase real estate.

Check the breakdown concretely, such as how much you will pay for yourself, how much you can borrow a mortgage, and whether you can expect financial assistance.

  • Decide the purchase area and floor plan

Decide in advance in which area you will purchase, how large and what you want the floor plan to be.

In the process, if you decide the priority of each desired condition at the same time, you can search for properties smoothly.

 

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