Advice on buying a mansion

[eagleyes]

Dont' worry. You are not alone. I am also getting stressed to buy a mansion here. It is just incredible. The agent is just BullsXXXXting me with fake news. I have to check everything he says and challenge him every time. I want to get rid of him.

Regarding Flat 35 what i have been told by banks is that it is now getting harder to get Flat 35. Some people have used the very low interest rate to rent the purchased appartements to others and make a profit out of it. Now the national organization is screening very carefully and it takes a lot of time.

Be careful of houses with prices with too low. In some places, you only pay for the building not for the land. Always check if it is 所有権（SHOYUUKEN). It means you buy the house AND the land.

[Utachiyo]

I'm still here.... Still totally stressed out... In addition to the houses I want all having some kind of zoning issues, it appears that the banks all have a problem with me not being a "seishain". My salary is decent enough, pay my bills on time every month (and have done so for years and years), I'm good at saving but that one detail is enough for rejection. I'm trying to apply with Rakuten Bank right now. I was told by my real estate guy that I have to apply myself, rather than through the real estate agency (for some reason that I didn't quite get during our brief phone conversation). The 事前調査 (I think that's what its called) is pages and pages long and I have to fill out information about the property that probably only the agent has.

No questions or anything, just ranting... I guess all of you who've bought homes are seishain?

[ricardo]

Yes, when the bank approved my loan I was a regular employee. Had been for several years.

That’s what they’re looking for. Income stability over a long period with a proper company.

Half of my income is from freelancing. They didn’t seem interested in that - it was all about my ‘main job’, the one that pays a regular income, health insurance and pension etc.

I showed them my tax returns for the previous six years, pension projections from when I retire and other income projections. All they seemed interested in was the money I got from one particular company.

Then they gave me a 25-year loan! They didn’t seem to think about the fact that I’ll be retiring in eight years! (I did).

[Cracaphat]

I'm still here.... Still totally stressed out... In addition to the houses I want all having some kind of zoning issues, it appears that the banks all have a problem with me not being a "seishain". My salary is decent enough, pay my bills on time every month (and have done so for years and years), I'm good at saving but that one detail is enough for rejection. I'm trying to apply with Rakuten Bank right now. I was told by my real estate guy that I have to apply myself, rather than through the real estate agency (for some reason that I didn't quite get during our brief phone conversation). The 事前調査 (I think that's what its called) is pages and pages long and I have to fill out information about the property that probably only the agent has.

No questions or anything, just ranting... I guess all of you who've bought homes are seishain?

My wife and I are self-employed,but our place had building technicalities that the big banks wouldn't want to deal with in granting a loan.We were able to find a smaller tier bank, where the rookie looking guy told us he pushed hard for his superiors to give us the loan.This was three years ago.It probably helped that we put up half the money in cash which may have soothed the bank's fears.We were told that applying at too many banks is a no-no.Apparently they all keep up with one another and if you get knocked back,word spreads,feeding "concerns." Hang in there.

[Utachiyo]

Update! After switching to a different real estate agent (because the house I wanted to see could only be shown by them, for whatever reason), they were able to get me through the pre-approval for a Flat loan. Yay! They said the final approval shouldn't be a problem unless I suddenly start racking up debts or not paying my bills. So...I may be a homeowner soon!

[Beaglehound]

Good news. Hopefully it’s all smoother sailing from here.

[RetireJapan]

Update! After switching to a different real estate agent (because the house I wanted to see could only be shown by them, for whatever reason), they were able to get me through the pre-approval for a Flat loan. Yay! They said the final approval shouldn't be a problem unless I suddenly start racking up debts or not paying my bills. So...I may be a homeowner soon!

Fantastic. Fingers crossed it works out for you this time

[StockBeard]

I guess all of you who've bought homes are seishain?

I wanted to reply to this because it's been a big component in my life plans. For a very long time I have considered going "freelance", but staying a seishahin was in my mind a prerequesite to buy a home with "peace of mind".

Bottom line, I stayed at my current company for much longer than I really wanted to, just so that I could easily get a loan on my house.

This is not too much of a data point for you I'm afraid, but this is just to confirm I had those concerns. Glad to see you had good news on the flat35

[Utachiyo]

UPDATE: I finally found out that I was approved for the loan (Flat35S)! Honestly, I think the first real estate agency wasn't used to working with people who aren't rolling in money so whenever I got rejected, they assumed something was wrong with me and didn't try to figure out another way to work things out.

But anyway, yeah...getting my house! It's gonna be the most awesome house ever! Time to finally order that Star Wars fusuma!

[N00bster]

It seems to have been a long and stressful road. Congrats! Enjoy your house!