Buying property in Niseko, Japan? Here is a breakdown of the process from offer to settlement.
Buying property in Japan with Niseko Real Estate is safe and hassle-free; all documents are prepared in Japanese and English with registration overseen by a local English-speaking solicitor. Your dedicated sales agent will consult you through the initial inspections, negotiation with the vendor, the contracts and registration of title change. We also take care of the land management and future tax payments so all you need to worry about is enjoying your new home in Asia’s most popular ski resort, in one of the world’s most beautiful destinations.
Making an Offer
All offers are made to the agent and these are reported to the vendor. When a price is agreed by both parties, you will sign a Commitment to Purchase and the vendor signs a Commitment of Sale. At this stage, the property is taken off the market.
The Sales Contract and the Statement of Important Matters are prepared by Niseko Real Estate and sent to the respective parties. All documents are in English and Japanese.
Estimated timeframe: one week.
When the documents are signed by all parties, you will send the deposit, the solicitor fees and 50% of the agent fee to the solicitor’s escrow account. Under standard Japanese real estate contracts, the deposit is often released to the vendor at this time.
Estimated timeframe: one week.
Preparing for Title Transfer
After the contracts are signed you will need to prepare a Statutory Declaration and a Power of Attorney for the solicitor to register the title change, and send all remaining funds to the solicitor’s escrow account at least one week prior to settlement. We provide an introduction to an English-speaking solicitor and they prepare all the registration documents in English. Your Niseko Real Estate Sales Agent will consult and guide you through this process.
Settlement and Transfer of Ownership
On the settlement day, the solicitor releases the funds to the vendor and registers the transfer of title at the Sapporo Bureau of Legal Affairs. A few days later the title deed is ready and Niseko Real Estate couriers the new title deed to you. Congratulations on making your Niseko dream home a reality!
Estimated Timeframe: two to four weeks after deposit payment.
Agent fees are 3% of the purchase price plus 60,000 yen. This fee is subject to 8% sales consumption tax. e.g. on a 10,000,000 yen purchase, agent fees will be 388,800 yen.
After purchase, you will need to pay a one-time acquisition tax and there is a yearly fixed asset tax payment. These figures are based on the council’s evaluation of the property. Niseko Real Estate calculates this for you at settlement and pay this on your behalf.
You will need to pay solicitor registration fees, pro-rata fixed asset tax for the year of purchase, based on the settlement date, and cover all international and domestic bank charges.
Niseko Property and Asset Management
Whether you own a luxury penthouse apartment or a cosy mountain cottage, there are a number of quality firms based in Niseko to look after your property year-round. Niseko Real Estate does not carry out property management, but we would be happy to refer you to multiple firms to allow you to shop and compare services and pricing package.
Design and Construction
With plenty of great plots of land for sale, building in Niseko is an exciting and unique process. From apartment blocks to luxury hotels, Niseko Real Estate has a proven track record in project management and development. We offer impartial advice on all aspects of construction and can provide consultation on suitable buildings for the cold and snowy environment of Niseko.
Time to Enjoy!
Congratulations! You’ve settled on the property, the title deed is in the safe, the property is in the safe hands of the property management company. What’s next? Time to relax, enjoy the sensational powder snow, world-class cuisine, unique nightlife, natural hotspring onsens, outdoor adventures, exciting activities and beautiful summers of Niseko with a glass of Yoichi wine or two.
Visit our sales office on the main street discuss your opportunities in Niseko.