Purchasing a ski property in Japan can feel exciting but overwhelming, but we are here to help! Discover Uchi’s Checklist! From the beginning of your real estate journey to your final settlement, our checklist will make finding your home in Japan easier than ever.
Whether you're searching for a luxury chalet in Niseko, a cozy retreat in Hakuba, or a property near the slopes of historical Nozawa Onsen, the journey will be smooth sailing. Here's a detailed guide to help you navigate the process, providing you with the comfort and ease you deserve.
1. Research and create a wishlist
Begin by researching popular ski resorts like Niseko, Hakuba, Furano, and Nozawa Onsen and the local real estate market. Uchi is here to help you explore different regions, understand market trends, and identify potential properties of interest.
2. Partner with a real estate agent
Select your preferred real estate agent that will provide valuable insights and help you find properties that meet your criteria. Agents are essential for navigating legalities and ensuring the properties meet your expectations. You can provide your agent with your wishlist and any additional preferences you may have. Finding an agent who gives you confidence and solid advice is a personal feeling - we have over 25 agents listing on Uchi all of whom are fantastic!
3. Ski property viewing
Your agent will arrange viewings of the properties that match your criteria. Visit each property or ask for video tours to assess whether it meets your preferences. Use your wishlist to evaluate each property. Consider the property's condition, amenities, and how well it aligns with your preferences. Take notes and photographs as well!
4. Make an offer
Once you've identified your preferred property, make an offer. Your offer should include:
- The purchase price is acceptable to the seller.
- The timing of payment.
- Any time required for due diligence.
Work closely with your agent to draft a compelling offer. Both you and the seller will sign a Commitment to Purchase. This document outlines the terms of the agreement and solidifies your intent to buy the property.
Review the contract in detail with your agent for any issues. Ensure your agent provides you with the "Sales Contract" and the "Statement of Important Matters Regarding the Property and Transaction," which includes essential details such as the owner title registration, ownership type, and legal descriptions.
5. Initial Payment
Make the initial payment, which typically includes:
- Deposit amount (usually around 20%)
- Solicitor fees
- 50% of the agent commission fee
Your real estate agent will then make the payments on your behalf to the solicitor and release the seller's deposit at this time once you have provided written authorisation to do so.
This payment is made to your agent, who will disburse it to the solicitor and release the deposit to the seller upon your written authorisation. In Japan, the deposit is not usually paid to a third party like an escrow. Instead, it is paid directly to the seller as a sign of commitment. This practice reflects Japan's trust-based society and is standard for Japanese residents and non-residents.
6. Final settlement and title registration
Prepare a Statutory Declaration and a Power of Attorney for your solicitor to register the title change. Ensure the remaining funds are sent to the agent's holding account at least one week before settlement. The solicitor will pay the remaining amount due to the seller and register the transfer of title to you at the appropriate prefectural Bureau of Legal Affairs. Once the process is complete, you will receive the new title deed.
7. Post-purchase survey
After completing the purchase, provide feedback through Uchi's post-purchase survey. Your input helps improve services for future buyers while giving valuable insights to other ski property investors. Complete the survey here.
Following these steps and utilising Uchi's features with a specialised real estate agent can streamline buying your dream ski property in Japan.
Why Buy Ski Property in Japan?
Purchasing properties in Japan’s ski destinations, such as Niseko, Hakuba, and Furano, is both a lifestyle upgrade and an ideal financial investment. There are various benefits, including growing interest from foreign buyers, high rental demand during the ski season, strong cultural appeal, and exceptional infrastructure development. Learn more about the benefits of investing in Japanese resort real estate.
