Future of buying properties through court auctions as envisioned by the 981.jp
Real estate markets in Japan are not quite open and accessible to the general public. The 981.jp works with you to improve the markets.
Court auctions tend to carry a negative image. And perhaps some of fear, suspicion, anxiety were warranted in the past, but not anymore. With the 981.jp and services rendered by member agents, one can bid and buy real estate securely.
One may view this as a way to rejuvenate real property with a new owner, when a debtor defaults on mortgage. Based on the Civil Execution Act, the court carries out the process, to convert the asset into cash for creditors.
Buying properties through court auction also helps the debtors who would suffer more if the properties are not sold. New owners would also pay the property tax and the urban planning tax so the assets would get back to the normal state where they contribute to the regional economy and the society. When a bidder does not appear, the court lowers the price level to promote the sale.
Logo of FKR that operates 981.jp
Five parties work together in unison to rejuvenate real esate.
Land is a cherished resource in Japan.
Our mission is to effectively utilize the valuable resource, enhace the value, and pass it on to the posterity.
*FKR and the 981.jp are bridges between the five parties.
- Debtor: owner of the property
- Creditor: financial institution, etc.
- Court: the government
- Bid winner: the buyer of the property
- Real estate agent: support through the process
Through 981.jp, please work with us toward our goals.