【Basic knowledge of real estate Vol.4】 "Property Disclosure of Important Matters" & "Real Estate Notary"
- Japanese real estate expertise
If you are interested in real estate in Japan, you may have heard about the existence of the “Property Disclosure of Important Matters(重要事項説明書)” and “Real Estate Notary(宅地建物取引士)”, but I think few people can explain it in detail.
Let’s take a look at these two which are important when you purchase or lease real estate in Japan.
First of all, I would like to talk about the "Property Disclosure of Important Matters".
There are two important procedural documents for making a real estate sales contract or a lease contract for real estate. One is a sales contract or lease contract, and the other is a property disclosure of important matters.
These are the required documents under the system to protect ordinary consumers who do not have real estate expertise. It also has the effect of avoiding disputes and misunderstandings after the contract.
The Property Disclosure of Important Matters is an advance confirmation document prepared based on the basic principles of the "Civil Code", the real estate law "Building Lots and Buildings Transaction Business Act (commonly known as the Real Estate Brokerage Act)", and other laws such as "Urban Planning Act" and "Building Standards Act". In order to facilitate the sale and purchase of real estate, it is intended for both the seller and the buyer to understand important matters regarding the contract content. The documents contain information that the parties need to know in advance, such as rights related to the subject land and building and legal restrictions.
For the explanation of important matters, a real estate notary who is a national qualification, must issue a document (Property Disclosure of Important Matters) in which the contents are signed and sealed in advance, and explain in person.
The main items listed in the Property Disclosure of Important Matters are as follows:
1. Matters relating to the transaction amount (purchase price or rent)
2. Clarification of the subject real estate, and matters to be stated in the registration certificate
3. Restrictions on other laws and regulations such as the Urban Planning Act and Building Standards Act
4. Matters relating to adjacent road
5. Matters concerning cancellation of the contract
6. Matters relating to the management of the subject real estate
7. Matters relating to the protection of personal information
… and so on.
CLEARTH LIFE Group staff can assist you as an interpreter in English or Chinese when explaining contract and important matters. We fully support foreign customers so that you can purchase an apartment with peace of mind.
Above picture is an image of the identification card of Real Estate Notary
(Referenced from Tokyo Zennichi Real Estate Association)
Next, I would like to talk about "Real Estate Notary (formerly known as the Real Estate Transaction Specialist)".
This is a national qualification for real estate transactions and is examined only once a year (pass rate about 15-17%). However, passing the exam does not mean that you can immediately become a real estate notary. You need to apply for registration in the prefecture where you took the examination and receive an identification card of real estate notary (also known as real estate transaction specialist identification card). In order to apply for registration, it is necessary to have at least two years' experience in real estate-related businesses. Furthermore, in order to run a real estate business (company or business), it is necessary to obtain a license as a real estate broker in accordance with the Building Lots and Buildings Transaction Business Act. There is also a rule in the license requirements that one in five staffs must be a qualified real estate notary.
As mentioned above, in Japan you can receive the explanation from the expert qualified by the government before you make a real estate contract, so foreign customers can purchase with confidence. I have heard that there are cases a contract for sales or lease is made without sufficient explanation in some countries and causing problems later.
Please feel free to ask us if you have any questions.
I would like to introduce the apartments that CLEARTH LIFE started selling in July 2020.
[CONCIERIA SHINJUKU OCHIAI ]
It’s located in Shinjuku-ku where the hub of transportation and business in Tokyo.
☞For details, please visit the apartments introduction page .
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