Home > Real Estate Info > Real Estate Purchase Process : STEP1 Financial Planning
Lack of a careful financial plan will cause a various problems, including fund shortage and a tight cash flow. As to prevent such problems, it is important to prepare a thorough financial plan by reviewing the debt loan and existing assets in advance.
In addition to the actual property cost, you will need to prepare for other expenses related to the purchase. The expences will vary by property, but it usually costs around 6 - 8% of the property price.
In addition to the actual property cost, you will need to prepare for other expenses related to the purchase. The expences will vary by property, but it usually costs around 6 - 8% of the property price.
Stamp duty is the tax levied on documents.
For real estate, sales contract is taxed around 200 - 540 thousand yen, according to the amount stated in the contract.
ex) if the price on the sales contract is 100 million yen, the tax will be 45 thousand yen.
For real estate, sales contract is taxed around 200 - 540 thousand yen, according to the amount stated in the contract.
ex) if the price on the sales contract is 100 million yen, the tax will be 45 thousand yen.
Registration license tax is the tax paid to the government for the privilege of being licensed to register for real estate or mortgage.
Tax fee = tax base × tax rate
ex) tax charge of registration for the transfer of property
House → tax base (fixed asset tax value) × 2%
Land → tax base (fixed asset tax value） × 1.3%
Tax fee = tax base × tax rate
ex) tax charge of registration for the transfer of property
House → tax base (fixed asset tax value) × 2%
Land → tax base (fixed asset tax value） × 1.3%
It is common to request a judicial scrivener for real estate registration.
Judicial scrivener fee is different by each judicial scrivener.
Judicial scrivener fee is different by each judicial scrivener.
Fixed assets tax is the ｔax collected annually on January 1st on those who owned fixed property. The tax is imposed on the property for the previous year. Therefore even if you transfer the ownership after January 2nd, you still are obligated to pay the tax. In such case, it is common for the buyer and the seller to split the tax fee depending on each of their ownership period..
Fixed asset tax=tax base × 1.4% (standard tax value)
City planning tax=tax base × 0.3% (standard tax value)
Fixed asset tax=tax base × 1.4% (standard tax value)
City planning tax=tax base × 0.3% (standard tax value)
Real estate acquisition tax is the tax imposed on those who have acquired land and/or a house through trading, exchange, gift, new construction, expansion, renovation, etc.
tax fee =tax base(fixed assets tax value) × 4% (with some exceptional cases)
tax fee =tax base(fixed assets tax value) × 4% (with some exceptional cases)
Loan expense refers to loan processing fees and loan warranty fees.
The fee differs according to each financial institution.
The fee differs according to each financial institution.
Insurance fee refers to fees such as fire insurance fee.
Insurance fee differs according to each property.
Insurance fee differs according to each property.
Realtor commission fee is commissions paid to real estate agent when signing a contract.
Realtor commission fee = Purchase price × 3% + 60,000yen (tax excluded)
ex) In case of purchasing a property of 100,000,000yen: 100,000,000yen × 3% + 60,000yen + tax = 3,213,000yen
Realtor commission fee = Purchase price × 3% + 60,000yen (tax excluded)
ex) In case of purchasing a property of 100,000,000yen: 100,000,000yen × 3% + 60,000yen + tax = 3,213,000yen
For the above questions, please contact us for details.
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