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!Notice for foreigner!
  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: Uruma, Okinawa

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Registered virtual bidding 0properties Input
base bid price ¥ 12,470,000
estimate winning bid ¥
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Asset type
House
Yield
10.6%
Rank
CRank
To the bid due32 days left

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Base bid price 12,470,000yen You can bid above 9,976,000yen
To the bid due 32 days left Disclosed on Dec 7, 2018

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Location

Location Uruma, Okinawa
Traffic access on report(japanese) 最寄バス停「金武湾」南東方 約370m(徒歩約5分)
Reference(japanese) -
Map Uruma, Okinawa [Area map]

Property data

Type Land Property number 1
Registered category Residential land Actual category -
Registered area 513.64m2 Actual area -
Zoning Low residential Class I Usage -
Building to land ratio 50% Floor area ratio 100%
Type Building Property number 2
Building number 3340-2-1
Registered type Residence Actual -
Registered structure SteelConcrete blockFlat-roofedOne-story Actual SteelConcrete blockFlat-roofed・Tin coated iron sheetroofed2F building
Registered floor area 62.80m2 Actual 1F ca.74.00m2,2F ca.92.80m2
Layout 5DK Land right Ownership
Occupant debtor・owner Year/month built 1964/11

Numerical data

Cap rate 10.6% Area 167㎡
Gross yield 14.6% Base bid price 12,470,000yen
Lease demand 12 / 25pt Minimum bid price 9,976,000yen
Ratio of years passed
to depreciable years
114% Earnest money deposit 2,494,000yen
Year/ month built 1964/11(54 years old)

Court data

Case number 2018(M)9 Announced Dec 7, 2018
Court Naha District Court (Okinawa) Start of viewing Dec 7, 2018
Sale type Sealed bid auction (1 times) Bid period Jan 8, 2019 ~ Jan 15, 2019
Farm land - Result Jan 22, 2019
Sale decision Jan 29, 2019 Special sale Jan 23, 2019 ~ Feb 6, 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 12470000yen in court auction is the same as buying the asset out of court auction at 11600000yen(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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