Property Condition Confirmation Form 1-13Property Condition Confirmation Form (Notification for Land & Building / Land) (Property Name: __________) (There is no need to fill in items ① through ⑪ if the land is currently vacant nor to fill in items ① through ③ and ⑦ through ⑪ if the land is to be handed over after the building is demolished.) The Seller hereby provides the Buyer with the following information regarding the condition of the property for sale that the Seller is currently aware of. Property Condition In addition to normal wear and tear over time, the property is in the following condition. ① Rainwater leaks □ No leaks have been found to date. □ There have been leaks in the past. Location(s): _____ Repair work: not yet completed / completed (month and year) □ There are currently leaky areas. Location(s):_____ ② Termite damage □ No termite damage has been found to date. □ Termite prevention work: not done/done (month and year) □ Termite damage has occurred in the past. (month and year) Extermination and repair work: not yet completed / completed (month and year) □ There is currently termite damage. Location(s): _____ ③ Building defects (tilt, corrosion, problems, etc.) □ Not found □ Found Location(s) and condition(s): _____ ④ Failure or leakage of water supply and drainage facilities □ Not found □ Found Location(s) and condition(s): _____ ⑤ History and documentation of renovations, extensions, repairs, remodeling, and changes in use □ Not conducted □ Conducted (month and year) □ Unknown Location(s) and condition(s): _____ Construction company: _____ Building permit: Yes/No Inspection certificate: Yes/No Design specifications: Yes/No ⑥ Damage from fires (including a small fire) □ No □ Yes (month and year) Location and condition: _____ ⑦ Records of asbestos use survey results Date of survey: month/date/year Organization that conducted the survey: _____ Scope of survey:_____ Remarks: _____ ⑧ Inspection of building conditions
Yes/No (□ Building Condition Inspection Report □ Building Condition Inspection Report Summary) Date: month/date/year Inspected by: _____ ⑨ Seismic diagnosis and earthquake safety data Yes/No (Available documents) □ Certificate of Compliance with Earthquake Resistance Standards □ Report of Seismic Assessment Results □ Existing Home Performance Evaluation Report □ Certificate of Existing Home Sales Defect Insurance □ Other: _____ ⑩ Housing Performance Evaluation Yes/No (Available documents) □ Housing Design Performance Evaluation Report □ Housing Construction Performance Evaluation Report □ Existing Home Performance Evaluation Report ⑪ Documentation at the time of construction and the name of the developer Building permit: Yes/No Design specifications: Yes/No Inspection certificate: Yes/No Developer / real estate agent: _____ ⑫ About the boundaries Boundary with the adjacent land: confirmed / not confirmed Location(s) that cannot be confirmed: _____ Written agreement: Yes/No Disputes: Yes/No Details of the disputes: _____ ⑬ Issues involving the boundaries Is there anything crossing the boundaries? Yes/No/Unknown Objects/equipment crossing the boundaries: □ Wall □ Fence □ Retaining wall □ Building □ Trees and plants □ Water pipe □ Drainage pipe □ Gas pipe □ Other: _____ Written agreement: Yes/No Disputes: Yes/No Details of the disputes: _____ Location(s)/circumstances: _____ Real Estate Sales Contract Clauses 21-23Article 21: Agreement on the Court of Jurisdiction
The Seller and the Buyer shall submit to the exclusive jurisdiction of the court having jurisdiction over the location of the Property in the event of any dispute arising in connection with this Contract. Article 22: Obligations to discuss matters not stipulated in this Contract Matters not stipulated in this Contract shall be discussed in good faith between the Seller and the Buyer in accordance with the Civil Code, other relevant laws and regulations, and the practices of real estate transactions. Article 23: Exclusion of anti-social forces 1. The Seller/Buyer shall make the following covenants to the other party: (1) The Seller/Buyer is not a member of a crime syndicate or a company affiliated with a crime syndicate, a "sokaiya" corporate racketeer, or a member of any such organization (hereinafter collectively referred to as "anti-social forces"). (2) The corporate associates (i.e., employees, directors, executive officers, or any such persons who engage in business operations) are not anti-social forces. (3) The Buyer/Seller shall not allow anti-social forces to use his/her own name to sign this Contract. (4) The Seller and the Buyer shall not, until the completion of both the delivery of the Property and the payment of the purchase price, engage in any of the following acts in connection with this Contract, either by themselves or by using a third party. a. the use of threatening words/actions or violence against the other party b. acts that obstruct the other party's business or damage the other party's credibility by using deceptive means or force 2. Either the Seller or the Buyer may cancel this Contract without notice in any of the following cases: a. If it is found that either party has made a declaration contrary to the pledge in (1) or (2) of the preceding paragraph. b. If it is found that the contract was signed in violation of the pledge set forth in the preceding paragraph (3) c. If either party engages in acts that violates the pledge set forth in the preceding paragraph (4) 3. The Buyer shall assure the Seller that the Buyer will not use the Property as an office or other base of activities for anti-social forces, either by themselves or by a third party. 4. The Seller may terminate this Contract without any notice if the Buyer acts in violation of the preceding paragraph. 5. If this Contract is terminated pursuant to the provisions of Paragraph 2 or Paragraph 4, the terminated party shall pay to the other party an amount equivalent to 20% of the purchase price as a penalty (pre-determined compensation for damages). 6. If this Contract is terminated pursuant to the provisions of Paragraph 2 or Paragraph 4, the terminated party may not make any claim against the other party for any damages arising from the termination. 7. In the event of termination of this Contract pursuant to Paragraph 2 or 4, the provisions of Paragraphs 2, 4, 5 and the preceding Paragraph shall apply to the termination and penalty fee, and Article 16 shall not apply. 8. If the Buyer violates the provisions of Paragraph 3 and is found to have used the Property as an office or other base of activities of anti-social forces, and if the Seller cancels this Contract pursuant to Paragraph 4, the Buyer shall pay to the Seller, in addition to the penalty in Paragraph 5, a penalty equivalent to 80% of the purchase price as a sanction. However, this paragraph shall not apply when a real estate agent acts as the seller himself/herself and a person who is not a real estate agent acts as the buyer. Real Estate Sales Contract Clauses 16-20Article 16: Cancellation and penalty for breach of contract
1. The Seller and the Buyer may terminate this Contract if the other party delays in the performance of its obligations under this Contract, including the case where the Seller delays in making repairs as specified in Paragraph 2 of Article 13, with respect to the nonconformity specified in Paragraph 1 of Article 13, after giving the other party a reasonable period of time to perform its obligations and if the other party fails to perform within such period of time. 2. In the event of cancellation of the contract pursuant to the preceding paragraph, either the Seller or the Buyer may demand payment of the penalty fee stated in the Contract (hereinafter referred to as "Penalty Fee") from the other party. However, if the cancellation is due to a cause that cannot be attributed to the other party in light of this Contract and socially accepted practices, the Seller or Buyer may not demand a Penalty Fee payment. Regardless of the amount of damages actually incurred, the counterparty may not demand a reduction in the amount of the Penalty Fee. 3. The payment and settlement of the Penalty Fee will be made as follows: (1) In the event of breach of contract by the Seller, the Seller shall promptly return to the Buyer the money already received without interest and pay the penalty. (2) If the Buyer breaches the contract and the penalty exceeds the amount of money already paid, the Buyer shall promptly pay the difference to the Seller, and if the amount of money paid exceeds the penalty, the Seller shall deduct the amount equivalent to the penalty from the money received and promptly return the remaining amount to the Buyer without interest. Article 17: Special provisions for loan use 1. If the Buyer intends to use the financing funds described in the Contract with respect to the purchase price, the Buyer shall apply for such financing promptly after the execution of this Contract. 2. If all or part of the amount of the loan described in the preceding paragraph is not approved or denied by the date set forth in the Contract, the Buyer may terminate the Contract with the Seller until the termination date specified in the Contract. 3. When this Contract is terminated pursuant to the preceding paragraph, the Seller shall promptly return the money received to the Buyer without interest. 4. If the Buyer fails to follow the procedures for applying for financing under Paragraph 1 or intentionally prevents the approval of the financing, the cancellation under Paragraph 2 is not allowed. Article 18: Stamp burden classification The Seller and the Buyer shall attach, at their own expense, the stamps designated by law to this Contract held by each of them. Article 19: Succession of various rules and regulations The Seller shall have the Buyer succeed to, and the Buyer shall succeed to, all provisions for the maintenance and management of the environment relating to the Property. Article 20: Special Provisions when there is more than one party signing the Contract When one or both of the Seller and the Buyer are multiple parties, their liabilities with respect to this Contract shall be joint liabilities, and the notice of this Contract shall become effective for all of the parties when it reaches one of the parties. Real Estate Sales Contract Clauses 11-15Article 11: Property Condition Report
The Seller will provide the Buyer with an explanation of the condition of the Property at the time of execution of this Contract in the attached "Property Condition Report". Article 12: Sharing of taxes and public dues, etc. The Seller and the Buyer shall settle on the date of completion of delivery, the portion up to the day before the completion date of delivery as the Seller's income or burden and the portion after the completion date of delivery as the Buyer's income or burden, with respect to the income generated from the Property or various burdens imposed on the Property such as fixed property tax, city planning tax and other taxes and public charges, gas, water, electricity charges and various other contributions. The accrual date for taxes and public dues is April 1. Article 13: Claim for repair due to nonconformity with the Contract 1. The Seller shall be liable to the Buyer for non-conformity to the contract if the land and building delivered to the Buyer do not conform to the terms of the contract in terms of quality (hereinafter referred to as "non-conformity to the contract"), provided that the Seller notifies the Buyer within 3 months of the date of completion of delivery. However, with respect to buildings, liability shall be assumed only in the following cases: (1) Leaks in areas that prevent rainwater leakage (2) Corrosion in major structural durability components of the building (3) Damage caused by termites (4) Damage to water supply and drainage pipes (including water supply and drainage pipes buried on the site) and drainage catch basins 2. The Seller's liability to the Buyer for nonconformity with the contract as set forth in the preceding However, if the purpose for which this contract was concluded cannot be achieved due to the nonconformity of the land as set forth in the preceding paragraph, the Buyer may cancel this contract with the Seller. shall be limited to repair, and the Buyer may not make a claim against the Seller for breach of contract, cancellation of this Contract, reduction of the purchase price, or compensation for damages, other than a claim for repair of the nonconformity as set forth in the preceding Article. However, if the purpose for which this contract was concluded cannot be achieved due to the nonconformity of the land as set forth in the preceding paragraph, the Buyer may cancel this contract with the Seller. 3. The scope of repair of the nonconformity of the building set forth in the preceding paragraph shall be in accordance with the description of "Scope of Repair of Building, etc." in the Appendix (Scope of Repair, etc.). 4. When the Buyer discovers a contractual nonconformity under Paragraph 1 regarding the Property, the Buyer shall promptly notify the Seller and give the Seller an opportunity to be present, except in cases where the repair is urgent. 5. The Seller shall be liable to the Buyer hereunder even if the Seller did not know of the contractual non-conformity described in Paragraph 1 at the time of the conclusion of this Contract, but if the Buyer knew of the contractual non-conformity at the time of the conclusion of this Contract, the Seller shall not be liable hereunder. Article 14: Delivery and repair of the equipment 1. The Seller shall deliver to the Buyer each equipment that is marked "Yes" in the "Availability of Equipment" column in the attached "Equipment List". 2. The Seller shall deliver to the Buyer, among the equipment delivered in accordance with the preceding paragraph, only the "main equipment" marked "None" in the "Failures and Defects" column shall be delivered in a usable condition. 3. The Seller shall not be liable to the Buyer for any contractual nonconformity with respect to the equipment. However, with respect to the "Major Facilities" indicated as "None" in the "Failure/Defect" column of the "Equipment List" in the preceding paragraph, the Seller shall be liable to the Buyer for repair only for failures or defects for which notice is received within 7 days of the date of the completion of delivery. The scope of repair, etc. shall be in accordance with the description of "Scope of Repair of Equipment" in the Appendix (Scope of Repair, etc.). 4. The Seller shall not be liable to the Buyer for any failure or malfunction of any equipment other than the "Major Equipment" and "Major Equipment" which are marked "Yes" in the "Failure or Defect" column of the "Major Equipment" and for any equipment not listed in the "Equipment List". Article 15: Release of the deposit 1. The Seller and the Buyer may cancel this Contract by written notice to each other up to the stated deposit release date. 2. If the Seller cancels this Contract pursuant to the preceding paragraph, the Seller must actually return to the Buyer the deposit and other money received. If the Buyer cancels this Contract pursuant to the preceding paragraph, the Buyer waives any claim against the Seller for the return of the deposit paid. Real Estate Sales Contract Clauses 6-10Article 6: Date of ownership transfer
The ownership of the Property shall be transferred from the Seller to the Buyer when the Buyer pays the Seller the full amount of the purchase price and the Seller receives the payment. Article 7: Delivery 1. The Seller shall deliver the Property to the Buyer on the indicated delivery date. 2. Upon delivery of the Property, the Seller and the Buyer shall prepare a document stating the date of completion of delivery (hereinafter referred to as the "Date of Completion of Delivery"). Article 8: Cancellation of mortgage The Seller shall, at its responsibility and at its expense, remove and extinguish any liens, mortgages or other security interests, superficies, leaseholds or other usufructuary rights, or any other burdens, regardless of their nominal form, that prevent the Buyer from attaining the full title to the Property by the time of transfer of ownership under Article 6. Article 9: Registration of ownership transfer 1. The Seller shall apply for the registration of ownership transfer of the Property to the name of the Buyer upon receipt of the full amount of the purchase price. 2. Of the expenses required for the application for registration set forth in the preceding paragraph, the Buyer shall bear the expenses for registration and registration costs related to the sale. Article 10: Loss or damage before completion of delivery 1. The Seller and the Buyer may terminate this contract by mutual written notice if, prior to the completion of delivery of the Property, the Property is lost or damaged due to a natural disaster or other cause beyond the control of either the Seller or the Buyer, and it is impossible to repair the damage or excessive costs are required to repair the damage, making the fulfillment of this contract impossible. The Buyer may terminate this contract by written notice to each other. The Buyer may also refuse to pay the purchase price until this Contract is terminated. 2. If the Property is damaged for any of the reasons set forth in the preceding paragraph before the completion of delivery of the Property, but the fulfillment of this Contract is possible by repairing the Property, the Seller shall repair the Property and deliver it to the Buyer. 3. Upon termination of this Contract pursuant to Article 1, the Seller shall promptly return the money received to the Buyer without interest. Real Estate Sales Contract Clauses 1-5Article 1: Property sold and sales price
The Seller sold to the Buyer the indicated land (hereinafter referred to as "Land") and the indicated building (hereinafter referred to as "Building"; Land and Building collectively referred to as the "Property") for the indicated sales price (hereinafter referred to as the "Sales Price"), and the Buyer purchased the Property. Article 2: Deposit 1. The Buyer shall pay to the Seller the stated deposit (hereinafter referred to as the "Deposit") upon conclusion of this Contract. 2. The Seller and the Buyer shall apply the Deposit to a portion of the Purchase Price without interest at the time of payment of the indicated remaining balance (hereinafter referred to as the "Remaining Balance"). Article 3: Date and method of payment The Buyer shall pay to the Seller the purchase price, the indicated deposit (the "Deposit") and the balance of the purchase price in cash or by deposit check by the respective payment dates indicated. Article 4: Area subject to sale The Seller and the Buyer shall regard the area of the Property to be sold as the area indicated, and shall not make any claim against each other for any change in the sales price or any other claim, even if the said area differs from the area measured in the survey. Article 5: Boundary demarcation The Seller shall clearly indicate the boundary of the land to the Buyer by showing a boundary marker on site by the date of payment of the balance due. In addition, when there is no boundary marker, the Seller shall set a new boundary marker and clearly indicate the boundary to the Buyer at its responsibility and burden. However, the installation of a boundary marker can be omitted for the boundary line between the road (including a private road) and the land. Real Estate Sales ContractDescription of Property The information on the property such as the following is shown in this section:
Sales Price and Method of Payment, etc. The sales price, method of payment, and other payment-related details (deposit, loans, etc.) such as the following are shown in this section.
Matters confirmed regarding the condition of the main structural durability components of the building, etc. This section specifies if these matters are applicable or not applicable to the existing building.
Special Provisions The Seller, _____, and the Buyer, _____, shall enter into a contract for the sale and purchase of the described real estate (hereinafter referred to as the "Contract"). In testimony thereof, two copies of this Agreement have been prepared and signed/sealed by the Seller and the Buyer. One copy is held by the Seller, and the other copy is held by the Buyer.
Month/Date/Year Buyer Address Name Signature/personal seal Seller Address Name Signature/personal seal Real Estate Agents and Registered Real-estate Brokers |
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AuthorArrows International Realty Corp. Archives
April 2023
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