ABOUT/ DOCS: GLOSSARY:A
Apartments In Bldg:
Short for The Number of Apartments in a Building
As the name indicates, this figure is only used for apartments.
Typically, given 2 identical apartments, and one is in a building of say 20 apartments and the other is in a building of 100, the one in a block of 100 will be sell for a higher price. This is because the general opinion is that the the building's maintinence fund (paid by each apartment owner) will be a lot larger and thereby enabling the building to be better maintained.
Arrears are debt that is owed on the property that the buyer of the foreclosure will need to cover to have free title. They are normally due to the previous owner not fullfilling his obligations to the management co. while he/she owned the owned the property.
Refers to the type of buyer of the property. It may either be a company (registered company in Japan or overseas) or an individual (Private person or Group of people in either Japan or overseas.).
Short for Case File Number
. Each property is assigned a Case File No, or "Jiken Bango (事件番号)", by the court when they first begin investigating the property. Taken together with the Property Number
these pair of numbers uniquely identify each foreclosed property.
In translating the data shown on this website we have written the Case File number using the alphabet instead of the Japanese characters. For example: 平成23ケ1234, pronounced "HeiSei 23 Ke 1234"
, is written as H23K1234 and 平成23ヌ1567, pronounced "HeiSei 23 Nu 1567"
is written as H23N1567. "HeiSei 23" refers to the Japanese calendar year (Western Calander year of 2011) in which the courthouse commenced investigation of that property.
Short for Floor Number
. This figure is used only for apartments and refers to the floor that the apartment is on in the building. Typically an apartment on say the 5th floor will sell for a higher price than a similar apartment on the first floor.
Remember that in Japan the first floor refers to what in some countries may refer to as the ground floor.
Some apartments may be multiple level and so their Floor No. may be shown for example as "-1,1,2". This means that the apartment is built with 3 floors: a basement, 1st and 2nd floor.
No. of Bids:
Is the number of bids a single property receives at auction. Obviously the more popular properties will attract more bids.
When a property does not receive even a single bid, the property is Not Sold
Outlying data refers to data values which are extreme and far removed from the average. For example a property selling for 1000% of its appraisal value when the Average % Of Appraisal for all the other properties combined is only around 160%. While it is "good to know" that this has occured, when analysing data it can "skew" the data showing higher average percentages for the data set giving the analyst a false sense of true values thereby making comparisons between data sets difficult. Checking the "Remove Outliers" box, where available, will remove data points which lie 2 standard deviations beyond the data set average.
Percent Of Appraisal(% of Appraisal) Value:
Defines The percentage by which a property's Selling Price differs from its Appraisal figure.
It is calculated as follows: The Selling Price divided by the property's Appraisal value expressed as a percentage.
Example: If the Appraisal Value of a property is 10Million Yen and it sold at auction for 15Million, its Percentage of Appraisal =15/10 x 100 = 150%.
Since the minimum acceptable bid for any foreclosed property is 80% of the Appraisal value 80% is also the minimum possible Percent of Appraisal value. That is, in other words, the property sold for 20% below its Appraisal Value.
When bidding, it is a useful benchmark with which to compare properties and guage how competitive the market is that kind of property (set by the user). Comparing % Of Appraisal over a period of time, for example using Analysis Section_Time Series function
compares %OfAppraisal for a kind of property over a number of auctions, so you can see if popularity for that property type is changing.
Short for Property Number. Similarly with the Case File No. (Jiken Bango) each property has been assigned a property number or "Bukken Bango (物件番号）" by the court upon commencing its investigation.
It is not unusual for several properties to have the same Case File Number, "Jiken Bango" where the bankrupt property owner has several properties which are being foreclosed simultaneously. In such a case the Property Number is used to uniquely identify each property for sale.
For example: An owner has 2 apartments in the same building and a block of land somewhere else in the same city. The court may assign the numbers as follows:
- Apartment 1: H23K1234, Bukken Bango: 1,2
- Apartment 2: H23K1234, BukkenBango 3,4,
- Land : H23K1234, BukkenBango 5,6,7 (consisting of possibly 3 adjacent parcels of land.)
Lastly, a prop no. can consist of just one or several numbers (as in the example above).
Refers to property that has been removed from the auction list on or before 5pm on bid closing day. Being removed from the auction list also means that the property can no longer be bid on.
The reason a property can be removed is that the creditor has received funds to cover the loan, tax or other outstanding debt and is satisfied that a foreclosure is no longer necessary.
Refers to any property which is sold at the auction. A property will sell even if only a single valid bid has been submitted for it.