What is the next step after signing the documents?

2026.08.10

This couple is from the U.S. IL. They have been living in Japan over a decade. They came to agreement that they would purchase a house instead of paying the rent. Via their friend, they contacted me and we started hunting for a house together. After I showed them some properties, they narrowed down the lists and picked up the property. I was a buyer agent and the seller’s agent was my former coworker so the transaction was very smooth. He accepted every request I asked. He knows I am a trusted man and I know he is okay guy. The couple signed the documents and paid the earnest money. It was a joint ownership.

What happens after signing the purchase agreement?

After you sign the documents neither side can cancel the agreement. The buyer loses the deposit and the seller has to pay the penalty. By you paying the earnest money you hold the property officially.
Once you sign the purchase agreement on your new home, there are still several steps to complete before you can finalize—or “close”—the transaction. Here are the basics of what you can expect during the period between signing and closing:
You talk to the title lawyer on zoom or physically. The title lawyer needs to verity your identification. The sales contract with revenue stamp is required to do that. Needless to say you need to bring your ID with your picture. They ask you bunch of questions, such as purpose of purchasing the house, where to send the official deed, not to mention your DOB, legal name etc...
You choose the fire insurance plan.
As you might know Japan is prone to earthquakes. I highly recommend my clients they should have a fire insurance with earthquake.
In some areas, there are not flood history, in this case you can waive the flood insurance to save money.

What do I need to do before I can close?

If you are paying for your home over time, you will need an approved mortgage loan before closing. Lenders may require that you purchase homeowners or other types of insurance. Homeowners insurance is important because it will cover you for unexpected losses at your home, which can help you repair or rebuild after damage, replace your belongings, and/or cover medical expenses if someone is injured on your property(personal liability insurance). The personal liability insurance is vital, believe me. Bank approval and fire insurance are the 2 key main items. This couple also financed and already approved.

Now we have to decide the closing date to find out how much the prorated property tax will be. We know the remaining balance of the sales price and fire insurance fees. I am sure they will continue the fantastic life in Osaka Japan even after the closing day.

Koji Kitada
Licensed real estate agent
whatsapp. +81-80-5349-2529
Contact me for any question