Successful cases to encourage challengers!
People in these cases utilized the services of auction concierges and successfully acquired properties through court auctions.- [Home to live in] Half the price of newly built apartment (50 years old homemaker)
- [Home to live in] Home dreamed of at low cost (30 years old corporate employee)
- [Investment] No renovation cost (38 years old corporate employee)
- [Investment] Got helpful supports for a property far away (50 years old corporate employee)
- [Investment] Peace of mind after the full estimate of renovation cost (40 years old corporate employee)
[case1]Half the price of newly built home!
【Tsukuba, Ibaraki】Apartment
Base bid price: \7,390,000
Walk from the station | 25 minutes |
---|---|
Year/month built | June 2006 |
Floor area | 77m 2 |
-
Ms. S
Lives in Ibaraki
50 years old
Homemaker -
Motives
When my child was starting college, I found on 981.jp a 6 years old apartment close to the university. With no experience in bidding, I was nervous, but decided to bid relying heavily on an auction concierge. When I won, I thanked the concierge for the professional services. With kind directions of the concierge for the subsequent procedures at the court, which mostly were done through emails, I could handle them without much difficulty. Initially my husband was worried about my bidding in court auction since I had no knowledge, but he was assured by the auction concierge. Even in the first time of bidding, we got the apartment at about half the price of newly built apartment. It went so well; I almost forgot it was from the court auction. We owe it to the auction concierge.
Cost (yen) | Ordinary pre-owned market cost (yen) | Aucton market cost (yen) |
---|---|---|
Purchase cost | \18,800,000 | \12,230,000 |
Eviction etc.(expected) | - | \153,000 |
Registration etc. | \241,000 | \191,000 |
Renovation(expected) | - | \0 |
Comissions | \655,000 | \385,000 |
Liabilities *3(expected) | - | \421,000 |
Total | \19,696,000 | \13,380,000 |
- Difference of \6,316,000
-
Compared to the general market price *1
about 32% lower
*1: General market price is estimated by an auction concierge in the area absed on the market and past transactions
*3: Liabilities in forms of unpaid apartment service and maintenance charges, and renovation reserves accumulated over past months that the new owner must payIR, auction concierge in Ibaraki
In court auctions there are many houses at one to three million yen, to live in or to invest as a lease asset. This family wanted this apartment to live in, but we get interests from many investors as well. We help those in nearby prefectures, but also some far away. IR provides auction supports based on our knowlege and experiences in real estate consulting. From property and market research, we propose three bid prices as follows:
・Bid by real estate trader
・Bid by investor (at 15%~20% yield)
・Bid by analyzing similar assets
[case2]Home dreamed of at low cost
【Atsugi, Kanagawa】Apartment
Base bid price: \4,310,000
Walk from the station | 5 minutes |
---|---|
Year/month built | Dec. 1981 |
Floor area | 48.67m 2 |
-
Ms. F
Lives in Kanagawa
30 year old employee -
Motives
I had thought about buying real estate. But I had little fund, so I consulted an auction concierge of 981.jp to bid on a auctioned property. At first I was lost. But after the concierge told me about the proces, loan and renovation, I felt at ease bidding. I also asked about a loan in early stage. Initial cost was small. I am quite satisfied. For several years I plan to live in it, then in the future I want to lease it.
Cost (yen) | Ordinary pre-owned market cost (yen) | Aucton market cost (yen) |
---|---|---|
Purchase cost | \9,800,000 | \5,023,429 |
Eviction etc.(expected) | - | \400,000 |
Registration etc. | \180,000 | \120,500 |
Renovation(expected) | \2,000,000 | \2,000,000 |
Comissions | \371,700 | \315,000 |
Liabilities *3(expected) | - | \400,000 |
Total | \12,351,700 | \8,258,929 |
- Difference of \4,092,471
-
Compared to the general market price *1
about 33% lower
*1: General market price is estimated by an auction concierge in the area absed on the market and past transactions
*3: Liabilities in forms of unpaid apartment service and maintenance charges, and renovation reserves accumulated over past months that the new owner must pay
[case3]No renovation cost
【Osaka】House
Base bid price: \3,250,000
Walk from the station | Drive | Annual rent | \840,000 |
---|---|---|---|
Year/month built | 1991/9 | Gross yield *2 | 20% |
Floor area | 87m 2 | Net yield *2 | 14% |
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Mr. E
Osaka city
38 years old
Company employee -
Motives
In my neighborhood there was a house put on court auction. From the court documents I learned that interests were complex. Upon inquiring an auction concierge of 981.jp, I promptly got a reply. Even though I was a bit uncertain, the concierge kindly explained things to me, so I felt easy by the time of biddying. I was really happy when I won the bid.
After winning the bid, the tenant continued to rent, so I immediately started earning the rent. And of course there was no renovation cost. I am now in a process of selecting the second asset to invest.
Cost (yen) | Ordinary pre-owned market cost (yen) | Aucton market cost (yen) |
---|---|---|
Purchase cost | \6,000,000 | \4,210,000 |
Eviction etc. | \0 | \0 |
Registration etc. | \170,000 | \75,000 |
Renovation | \0 | \0 |
Comissions | \250,000 | \210,000 |
Liabilities *3 | \0 | \0 |
Total | \6,420,000 | \4,495,000 |
- Difference of \1,925,000
-
Compared to the general market price *1
about 30% lower
*1: General market price is estimated by an auction concierge in the area absed on the market and past transactions
*2: Gross yield is the percentage of annual rent divided by bid price
Net yield is the percentage of annual rent at 70%, taking account of vacancy and other costs, divided by bid price
*3: Liabilities in forms of unpaid apartment service and maintenance charges, and renovation reserves accumulated over past months that the new owner must pay
[case4]Got helpful supports for a property far away
【Sapporo, Hokkaido】Apartment
Base bid price: \1,570,000
Walk from the station | 6 minutes | Annual rent | \384,000 |
---|---|---|---|
Year/month built | 1990/7 | Gross yield *2 | 20% |
Floor area | 30m 2 | Net yield *2 | 14% |
-
Mr. I
Lives in Saitama
50 years old
Company employee -
Motives
I live in Saitama prefecture, and own some rental properties. Auction assets in Sapporo appeared to priced relatively low and with high yield, so I picked out some assets and asked an auction concierge in Sapporo for help. After winning and paying based on documents received from the court, I sent the necessary documents to the auction concierge who carried out registration, changing the custodian firm, and notifying tenants. I plan to bid again when I find a good property.
Cost (yen) | Ordinary pre-owned market cost (yen) | Aucton market cost (yen) |
---|---|---|
Purchase cost | \2,500,000 | \1,910,000 |
Eviction etc. | - | - |
Registration etc. | \100,000 | \56,570 |
Renovation | - | - |
Comissions | \107,100 | \100,000 |
Liabilities *3 | - | - |
Total | \2,707,100 | \2,066,570 |
- Difference of \640,530
-
Compared to the general market price *1
about 24% lower
*1: General market price is estimated by an auction concierge in the area absed on the market and past transactions
*2: Gross yield is the percentage of annual rent divided by bid price
Net yield is the percentage of annual rent at 70%, taking account of vacancy and other costs, divided by bid price
*3: Liabilities in forms of unpaid apartment service and maintenance charges, and renovation reserves accumulated over past months that the new owner must pay
[case5]Peace of mind after the full estimate of renovation cost
【Uruma, Okinawa】House
Base bid price: \850,000
Walk from the station | 5 minutes | Annual rent | \720,000 |
---|---|---|---|
Year/month built | 1995/8 | Gross yield *2 | 17% |
Floor area | 1F 51.17m 2 /2F 26.46m 2 | Net yield *2 | 14% |
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Mr. M
Lives in Okinawa
40 years old
Company employee -
Motives
I live in Okinawa and was looking for a house with land that I can lease. I found a good asset so asked an auction concierge, who advised me that the vacancy risk is lower if the rent for a family house is about 70,000 yen. The concierge also estimated renovation costs, so I felt comfortable about bidding. Only two weeks after winning and paying for the property, the renovation was finished. And in another two weeks I found the tenant. I am gratful for the speedy services of the auction concierge. I am now looking for the next asset.
Cost (yen) | Ordinary pre-owned market cost (yen) | Aucton market cost (yen) |
---|---|---|
Purchase cost | \7,500,000 | \4,256,000 |
Eviction etc. | \0 | \0 |
Registration etc. | \97,000 | \47,000 |
Renovation | \1,250,000 | \1,250,000 |
Comissions | \299,000 | \210,000 |
Liabilities *3 | \0 | \0 |
Total | \9,146,000 | \5,763,000 |
- Difference of \3,383,000
-
Compared to the general market price *1
about 37% lower
*1: General market price is estimated by an auction concierge in the area absed on the market and past transactions
*2: Gross yield is the percentage of annual rent divided by bid price
Net yield is the percentage of annual rent at 70%, taking account of vacancy and other costs, divided by bid price
*3: Liabilities in forms of unpaid apartment service and maintenance charges, and renovation reserves accumulated over past months that the new owner must pay
Family Home, auction concierge in Okinawa
To acquire an attractive asset, you need experts, auction concierges. There are differences between assets for investment and for living. We consult on past transactions and auctions to give practical advices. There are many attractive residential properties and second homes by the sea in Okinawa. Houses in Okinawa are usually made of concrete and not wood, so property values do not decline much sometimes even over fifty years. Some people buy houses as vacation homes, while looking for opportunities to sell them.