Initial Costs?

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gonbechan
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Post by gonbechan »

@Ibaraki llama should share his friends lol. (and maybe invite them too)
I just discovered this channel and I think it would be very useful to follow them on their journey if one was considering doing something similar in the future.


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Post by VanillaEssence »

Just saw this too, looking forward to seeing their progress.

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Post by OnionChutney »

When you put in a offer for a house/land in Japan, is it a faux pas to offer below the asking price? What's the etiquette in Japan? I don't want to get blackmarked by the seller for trying to be a cheeky git and offering less, but I also don't want to pay full price if haggling is an option...?
We think we've found our house in the countryside near Munakata City, but we want to be sure!

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gonbechan
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Post by gonbechan »

Here in the Kansai, if you don't haggle, you're an idiot.
Try out your offer on the realtor and ask them if its too cheeky.

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Post by KumamotoHunter »

OnionChutney wrote:
Tue Jul 27, 2021 7:24 pm
When you put in a offer for a house/land in Japan, is it a faux pas to offer below the asking price? What's the etiquette in Japan? I don't want to get blackmarked by the seller for trying to be a cheeky git and offering less, but I also don't want to pay full price if haggling is an option...?
My house and acre of land was listed for 16.8m. I haggled and bought it for 13m.

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Post by donguri »

OnionChutney wrote:
Tue Jul 27, 2021 7:24 pm
When you put in a offer for a house/land in Japan, is it a faux pas to offer below the asking price? What's the etiquette in Japan? I don't want to get blackmarked by the seller for trying to be a cheeky git and offering less, but I also don't want to pay full price if haggling is an option...?
I think it's totally reasonable, especially in the case of rural properties. Our place was listed at 2 million and we offered 1.5 million and the owner was thrilled. He even offered to-and did- take care of all the bothersome paperwork. He didn't actually think anyone would want to BUY his old home, so he just entered it into the akiya bank at the request of the town office.

A lot of folks are relieved to be able to sell, they are then free from maintenance or costly demolition fees. In our case, the previous owner stops by a few times a year to eat at our restaurant, offer his advice or register his surprise at something we've done....he genuinely seems happy that his old house is still alive.

Be polite when haggling, you're much more likely to get what you want if the other party likes you!

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Post by hushashi »

I concur with everyone here. Offer less. Prices are not firm in most cases, but every seller is unique.

A 'newly reformed' property often indicates a seller that wants/needs to maximize value, and may not budge much.

Old listings for old properties and akiya bank properties are your best bet if you want to negotiate. These properties also have stories to tell, and not always happy ones...

But just ask the realtor. Most agents will tell you they ask the buyer and come back to you. A good sign. (If the agent says yes immediately they're amateurs, or they know because a deal has fallen through -- be careful) .

Also count the minutes/hours until you get a reply back from the realtor.

If they say they'll check with the seller, and reply within the hour, you can basically name your price.

Within a day or two, I'd be confident the seller wants to make this as easy for you as possible.

If there's no national holiday that week and they still take more than a day or two to reply to you...tread carefully. Some people flat out don't want to sell for a yen less than a magic number (i.e., they took a massive bath on their property when the bubble burst and have big chip on their shoulder or need that extra million yen to qualify for the nursing home they want to die in).

The thing I'd try to find out is, is previous owner selling it, or is it the next of kin?

Pray for 'next of kin'.

Then ask, have they legally inherited the house, registration and all, or is it still sort of in limbo?

If they haven't technically inherited it yet, it will take longer to buy because they need to acquire it before they can sell it...but that status, in my view, is a green light to negotiate away! In my case, I probably could have offered the tax value of the property I bought and they'd have accepted, but I didn't have the guts/want to risk offending them, and so played it safe, offered 20% less they they asked, and it was accepted the within the hour.

This post got longer than I intended it, sorry about that... :D
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