Sales Process

You will find the purchase process very similar to many other countries. For a detailed breakdown of the process, key milestones and deliverables, read below.

• Generally a 20% deposit paid within 2 weeks of acceptance is acceptable.
• Balance to be paid within 2 or 3 months.

West Canada Properties collects all the necessary information from the vendor and buyer.

Contract documents are comprised of the Sale and Purchase Agreement (SPA), and the Statement of Important Matters (SIM). Both documents are prepared by West Canada Properties.

• West Canada Properties shall Introduce the Solicitor by email.
• The Solicitor shall oversee the conveyancing process, and shall assist with the preparation of all required documents for settlement and title transfer.

The Statement of Important Matters covers most due diligence items. West Canada Properties is a licensed agent, and is responsible for ensuring the accuracy of the SIM.

• Upon approval of contract documents by both Vendor and Buyer, contracts shall be signed using the online signature platform RightSignature.
• The Vendor shall sign first; followed by the Buyer.
• RightSignature secures your executed document with a complex hash algorithm to ensure the permanent record is tamper-proof.
• Electronic signature contract documents are legally binding in Japan.
• Once both Vendor and Buyer have signed the contracts, West Canada Properties (WCP) shall print, bind and seal hard copy documents.

• Deposit is due to be paid at time of contract signing.
  • Once contract documents have been approved by both Vendor and Buyer, West Canada Properties shall send a request for funding for deposit to the Buyer.
  • Deposit funds shall be sent to the West Canada Properties Trust Account as detailed in the Sale and Purchase Agreement.
  • West Canada Properties shall confirm bank details verbally prior to requesting the bank transfer.
  • West Canada Properties shall not release the deposit to the Vendor without prior written approval from the Vendor.
• Very Important: Funds must be sent to Japan from an account with the same name as the Buyer, and registered to the same address stated on the Sale and Purchase Agreement. This applies to both a individual and a company as the purchasing entity.

• Solicitor Yoshida's team shall liaise directly with the Buyer to assist with the preparation of all documents required for the settlement of the Property.
• These documents shall include but are not limited to the following:
  • Power of Attorney (POA) giving the Solicitor authority to transfer title on behalf of the Buyer
  • Affidavit stamped / sealed by a Notary Public confirming identity of the Buyer
  • Certificate of Incumbency with a Notarial Certificate in the case of the purchasing entity being a company.

• Approximately two weeks prior to settlement, West Canada Properties shall send a Pro-forma Statement of Settlement, and request funding for settlement.
• To ensure a smooth settlement, we shall request funding for settlement has a value date of five (5) business days prior to settlement.
• Very Important: Funds must be sent to Japan from an account with the same name as the Buyer, and registered to the same address stated on the Sale and Purchase Agreement.
  • This applies to both a individual and a company as the purchasing entity
  • Non compliance with this point shall result in funds being returned to the sender.

• Provided that:
  • The Solicitor has received all required documents from both Vendor and Buyer
  • West Canada Properties has received required funding for settlement in the West Canada Properties Trust Account
  • Executed hard and bound copies of the Sale and Purchase Agreement and Statement of Important Matters have been received
• The Solicitor shall confirm the following:
  • All Vendor required documents are in good order;
  • All Buyer required documents are in good order;
  • All executed contract documents are in good order;
  • All funds required for settlement are in place;
  • The Property is clean and clear of all encumbrances;
  • The Buyer has authorized the release of funds for settlement;
• Upon confirmation by the Solicitor all of the above items are in good order, the Solicitor shall lodge title registration with the Sapporo Bureau of Legal Affairs, and authorize the release of settlement funds simultaneously.

• It will take approximately ten business days from the time of settlement for the original hard copy new title deed to be issued by the Sapporo Bureau of Legal Affairs.
• The Solicitor shall receive the new title deeds on behalf of the Buyer, and shall contact the Buyer to ask for the sending address for title deeds to be couriered to the Buyer.

Done!! You own a piece of the dream.