If I buy a property via government auction, how do I know its not under mortgage?In America, they have title companies that preform these searches and guarantee its ok with insurance, but I have no idea how this works in Japan.I already spoke to the neighbors, and apparently the owner got in trouble with “local betting companies” and apparently ran away leaving these 3 properties vacant 5 years. Google street view backs this up.
Its actually two houses… anyone want to be my neighbor haha.
I have a few months before it goes for auction, so I want to gather as much information as possible.I wondering if the “value” the auction places on the company reflects the normal sales as well? Its not it good shape, so I don’t see how that’s possible either.
To anyone that considers visiting abandoned properties.. DONT. Even with the neighbors showing me around, there was a hornet nest the size of Texas hanging over the entrance.
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once they are gassed out, those big hornet nests fetch a pretty good sum online.
>”… there was a hornet nest the size of Texas hanging over the entrance.”
This is why I insisted we buy property on a mountain. Dang lowlands are filled with wasps and hornets.
Hopefully someone can tell you more about auctions (do they even sell them with outstanding mortgages, don’t they go back to the bank?) but you should be able to get any information about the property including outstanding liens from the Legal Affairs Bureau (法務局). If you’re serious about buying then you probably want to take a look at this in any case. It’s a public record, you don’t need any stake in the property to get it. If you know the address (this part can be harder than it sounds) then you should be able to fill in a form and pay a nominal fee and get the records over the counter. There will be multiple records for the house and the land, and the land may in turn be split into different parcels with their own records.
There’s also an online system where you can look up arbitrary addresses and they’ll charge your credit card but it’s a nuisance to register for because they insist on sending you the username and password by snail mail. (I did this a couple of years ago, it may have got better since.)