Hey all, was looking for a Japan real estate sub but I think this is the closest (*also posted on /movingtojapan) I’m gonna get so let me ask –
Currently living in the US with solid plans to move to Japan. Want to buy a house ahead of time in my favorite little town in Saitama (😆)
Questions are-
Are house prices negotiable? (Sorry sounds like a stupid question even to me but I’ve never dealt with real estate in Japan, in the US price its negotiable)
If so, are sellers more inclined to lower their price if paying in cash? (Or does that even matter since either way they’d be getting money upfront from the bank doing the loan)
Are broker fees negotiable?
Is there any reason to get a shorter term loan than the 35 year? Is there a preferred term length to get the lowest interest rate? I’ve looked around and it seems like there’s no prepayment penalty so I’d take the lowest rate I can get regardless of length. Unless I can get a better deal for cash.
If getting a loan, was thinking about getting the house in my girlfriends (soon to be wife) name so if we’re getting a loan she can use the 0.7% tax write off. I’m currently and have been working in the US forever so no permanent residency/bank acct/mynumber/etc yet. Can/should I put my name on the title? As a partner or something? Or does it matter? (Trust issues aside lol)
What do banks look for when approving / denying loans? It’s not like the US with credit history right? Do they look at your savings? Wondering if I should move a bunch of money into her bank account before her applying for a loan
Sorry and thank you for my long winded message. I apologize if there is a better place to post this, if there is I’d appreciate someone letting me know
Domo!
**adding that gf/soon to be wife is a Japanese citizen. Born and living in Japan all her life. Working at a salary job for past decade+**
**and thank you all for your replies! Very helpful. Love Reddit for stuff like this. Google just doesn’t cut it sometimes**
by DegreeConscious9628
