Getting the Keys and Moving In
Once the legal title has been registered, the seller (or their agent) will release the keys. In most transactions, this happens on the same day.
If you’ve agreed to retain appliances or furnishings, confirm they are still present. In rural homes or akiya sales, it’s common to revisit the property beforehand to tag items you wish to keep.
Post-settlement activities include:
- Contractors: You can now arrange access for estimates and inspections.
- Utilities: Contact providers to switch gas, water, electricity, and internet into your name. Your agent should have the contact details ready for you.
- Insurance: Fire and earthquake insurance should begin from settlement day. Many banks require proof before releasing mortgage funds.
- City hall notification: Report your ownership change at the Fixed Asset Tax Division or Tax Affairs Section. Bring:
- A copy of the updated Property Registration Certificate
- Valid photo ID (passport, residence card)
- A Real Estate Acquisition Report, if required
Real Estate Acquisition Tax (不動産取得税)
A few months later, you’ll receive a prefectural tax bill for your newly acquired property. This Real Estate Acquisition Tax typically arrives 3–6 months after registration.
- Rate: 3% of a building’s assessed value; 3% for land (4% for non-residential use).
- Assessed value: Based on prefectural valuation tables, usually lower than market price.
- Deductions: Available for primary residences, smaller homes, and newer construction.
What Can Go Wrong at Settlement?
Most closings proceed smoothly, but a few common pitfalls can cause delays:
- Late or blocked payments, especially with international transfers
- Missing documentation such as IDs or signatures
- Mortgage disbursement delays
- Seller failing to vacate or removing agreed-upon items
How to protect yourself:
- Work with an experienced agent and judicial scrivener
- Review all documents in advance
- Confirm insurance, utilities, and funds ahead of settlement
- Include clauses for financing and defect resolution
- Double-check that the property is vacant before transferring the final balance
✅ Settlement Checklist
Use this checklist to make sure everything is ready before and after your settlement date:
Before Settlement:
- ☐ Arrange fire and earthquake insurance
- ☐ Confirm settlement amount and transfer details
- ☐ Coordinate with your scrivener for required documents and fees
- ☐ Prepare valid ID (passport, residence card)
- ☐ Confirm mortgage disbursement date with your lender
- ☐ Review fixed asset tax adjustment
On Settlement Day:
- ☐ Transfer remaining balance of purchase price
- ☐ Pay registration & license tax
- ☐ Pay any remaining agent commissions
- ☐ Confirm all registration documents are submitted
- ☐ Receive confirmation of title application from scrivener
- ☐ Collect or schedule handover of property keys
After Settlement:
- ☐ Notify city hall of new ownership
- ☐ Set up utility accounts
- ☐ Schedule contractor access if needed
- ☐ Store your title ID safely
- ☐ Confirm your name appears correctly on the Property Registration Certificate