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  1. All the properties posted to this website arereal estate sold based on the Japanese law, and the point of contact for it is the court.
  2. The court dose not involve in the availabilit, state, and hand over the property. Therefore, please keep in mind that it would be impossible the trading without the agent.
  3. If the propery's base bid price is low there is possibility that the bid target could be a part of sheres of coownership or there is amount of administrative expenses delinquent (the highest bidder should pay for it) . So that most of case that the highest bidder can not use the property even if he/she purchase it or the large coste may occur with additional. Therefore we do not support the auction the base bidding price is under 1,000,000yen.
  4. The estimated purchase price is approximate 15 to 20% off market price in urban area. In case of suburb or resort are, the purchase price could be at less than half the market price.
  5. Those who do not have a certificate of residence in Japan, it may take more than a month to prepare it.
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House: Shimonoseki, Yamaguchi

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Registered virtual bidding 0properties Input
base bid price ¥ 5,359,000
estimate winning bid ¥
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Asset type
House
Yield
16.6%
Rank
CRank
To the bid due33 days left

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Base bid price 5,359,000yen You can bid above 4,287,200yen
To the bid due 33 days left Disclosed on Dec 7, 2018

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Location

Location Shimonoseki, Yamaguchi
Traffic access on report(japanese) JR山陽本線「幡生」駅 南東方 約1.7km【道路距離】 「旭」バス停 南東方 約400m【道路距離】
Reference(japanese) JR山陰本線(益田〜下関) 幡生 西方 1.24km
Map Shimonoseki, Yamaguchi [Area map]

Property data

Type Land Property number 1
Registered category Residential land Actual category -
Registered area 210.16m2 Actual area -
Zoning Low residential Class I Usage -
Building to land ratio 40% Floor area ratio 80%
Type Building Property number 2
Building number 25-11
Registered type Residence Actual -
Registered structure Tiled roofed wooden 2 storey structure Actual -
Registered floor area 1F 49.11m2,2F 49.75m2 Actual 1F 49.11m2,2F ca.49.00m2
Layout 1F:リビング、ダイニングキッチン、洗面脱衣Room、Bath、Restroom 2F:和Room2Room、洋Room Land right Ownership
Occupant debtor・owner Year/month built 1975/12

Numerical data

Cap rate 16.6% Area 98㎡
Gross yield 22.8% Base bid price 5,359,000yen
Lease demand 5 / 25pt Minimum bid price 4,287,200yen
Ratio of years passed
to depreciable years
195% Earnest money deposit 1,071,800yen
Year/ month built 1975/12(43 years old)

Court data

Case number 2018(M)19 Announced Dec 7, 2018
Court Yamaguchi District Court (Shimonoseki) Start of viewing Dec 7, 2018
Sale type Sealed bid auction (1 times) Bid period Jan 9, 2019 ~ Jan 16, 2019
Farm land - Result Jan 23, 2019
Sale decision Jan 30, 2019 Special sale Jan 24, 2019 ~ Jan 30, 2019
Points to note

Property price for assets not on court auctions does not include miscellaneous purchase expenses of about 7.5%.

Thus buying the asset at 5359000yen in court auction is the same as buying the asset out of court auction at 4990000yen(excluding misc. expenses).

In foreclosed properties, expenses for purchasing differ from ordniary purchase. Generally, however, it takes about 30%, depending on location and asset, in intermediary margins. Court auction is the sole market in which general public can eliminiate this margin.

For the same money, one can acquire better quality in foreclosed properties: auction concierges of 981.jp provide useful assistance.

*Above figures are based on base bid prices. For actual total costs, see 「bid simulation」.

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