ONE MILLION YEN IN CASH ON THE TABLE
ONE MILLION YEN IN CASH ON THE TABLE
I’ve purchased six properties in Japan and I’ve always enjoyed the part where the bank guy, in the bank during closing, tells a clerk, usually a young female, to go and fetch the cash. It’s always a million yen, stacked on the conference table, and laboriously counted out in everyone’s presence. Me, my wife, the seller, the real estate agent, the loan officer and the scrivener. I love the look on the seller’s face when he pockets that thick wad of 10,000 yen notes. Anyone else go through this?
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- Sage
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Re: ONE MILLION YEN IN CASH ON THE TABLE
No, we haven't gone thru that, but really, that's how you get your kicks?
I can think of many more satisfying things than that.
I can think of many more satisfying things than that.
Re: ONE MILLION YEN IN CASH ON THE TABLE
I deal with small regional banks, the big boys don’t want to know me. Just wondering if this is a small bank thing or if anyone else had had the same experience. I think it’s hilarious and maybe a pre-modern throwback to “putting your money on the table”.captainspoke wrote: ↑Thu Mar 21, 2024 9:48 am No, we haven't gone thru that, but really, that's how you get your kicks?
I can think of many more satisfying things than that.
Re: ONE MILLION YEN IN CASH ON THE TABLE
Never used cash in a real estate transaction. Sounds like it would raise all kinds of money laundering red flags.
- RetireJapan
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Re: ONE MILLION YEN IN CASH ON THE TABLE
When I got my mortgage I think I received the whole amount in cash, then gave it back so the bank could send it to the seller. But that was after about three hours of signing mortgage paperwork so I might have hallucinated that bit
English teacher and writer. RetireJapan founder. Avid reader.
eMaxis Slim Shady
eMaxis Slim Shady
Re: ONE MILLION YEN IN CASH ON THE TABLE
It did not work that way for us. We all sat in a room but the transfer first of the mortgage money to my bank account then to the seller was all electronic. It would have been a large stack of ichiman notes otherwise.
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Re: ONE MILLION YEN IN CASH ON THE TABLE
No physical cash exchanged when we paid the down-payment on our place. All done by wire transfer as one would expect.
Re: ONE MILLION YEN IN CASH ON THE TABLE
Again, my down-payment scenario seems to have been different. I opened an account at the bank at the bank’s insistence, and deposited large sums of money into it, proving that I indeed had a substantial down-payment. Stacks of bills. Into the ATM.eyeswideshut wrote: ↑Fri Mar 22, 2024 4:38 am No physical cash exchanged when we paid the down-payment on our place. All done by wire transfer as one would expect.
Re: ONE MILLION YEN IN CASH ON THE TABLE
Yes, a thick wad, as stated in the opening post. Ye landlubber!