Buying property in Niseko, Japan? Here is a breakdown of the process from offer to settlement.
Buying property with Niseko Consulting is safe and straightforward; all documents are prepared in Japanese and English with registration overseen by a local English-speaking solicitor. We guide 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 you have nothing to worry about in holding your asset in one of the world's snowiest places.
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. The property is taken off the market.
The Sales Contract and the Statement of Important Matters are prepared by Niseko Consulting and sent to the respective parties. All documents are in English and Japanese.
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.
Timeframe: one week.
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.
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 Consulting couriers the new title deed to you. Congratulations!
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. We calculate 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 Consulting’s sister company, Niseko Owners, manages over 70 properties in Niseko and has a fully comprehensive management system. When you buy a property with us, we can seamlessly manage it for you too.
With plenty of great plots of land for sale, building in Niseko is an exciting and unique process. Niseko Consulting can provide impartial advice on all aspects of construction and with a large management portfolio can provide plenty of feedback on suitable buildings for the cold and snowy environment.
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 snow, fine cuisine, unique nightlife, onsens and beautiful summers of Niseko with a glass of wine or two. Call in to our Upper Village office to discuss your opportunities in Niseko.