Haggling Price of Akiya

Finding land, working a small plot or anything else countryside related
dayunbao
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Haggling Price of Akiya

Post by dayunbao » Wed Jun 05, 2019 4:03 am

How possible is it to talk down the price of an akiya? The one I have my eye on isn't really that expensive (4.5 million yen) considering that it seems to be in decent condition, isn't too old, and isn't too far from a city. It has been sitting on an akiya bank website for about a year, though. I'm thinking of trying to get it for 2 - 2.5 million yen. How likely is it that I can get it for essentially half-price? Anyone have experience with this?

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Re: Haggling Price of Akiya

Post by Zasso Nouka » Wed Jun 05, 2019 4:49 am

Haven't haggled on an akiya bank house but we did buy our land for considerably less than the initial asking price and I've heard of others who negotiated a lower price when buying an old house so it can be possible.

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Re: Haggling Price of Akiya

Post by donguri » Wed Jun 05, 2019 10:23 pm

Yes, in my experience, it's possible to haggle a bit.

Two years ago we bought a house that was listed in the local akiya bank for 2 million. This included the house and about 500 tsubo of land, a couple outbuildings......... and a lot of furniture and other junk. The owner didn't actually think anyone would buy it, so when we were seriously interested, he wasn't exactly sure what to do. I'm not sure if this is true in all towns, but at least here, the local government has no authority over the sale/rental contract, except in the case where the property has been put in town office control. The akiya bank is only a way to introduce properties, connect people. The local officials couldn't get involved in the actual sale or negotiations, although they were helpful in other ways.

The junk was one of the topics discussed with the owner and he said it would take some time for them to clear things out. We were motivated to make things happen quickly, so we offered 1.5 million and said we would deal with the junk ourselves. There was no hesitation when he said YES! So we got a 25% discount and a lot of junk!

In the end, the owner did all of the sale paperwork himself, which was quite complicated and time consuming, and at his expense. At such a low selling price, no real estate agent wanted to touch it, because the commission wouldn't be worth the trouble. We're still on very friendly terms with the owner, he still has land in the area and he always stops by to eat lunch (we opened a restaurant on the first floor of his old house) or organizes his yearly classmate drinking party here. He and his family are really happy that their old house is still standing and cared for, they thought they would just end up tearing it down.

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Re: Haggling Price of Akiya

Post by Zasso Nouka » Thu Jun 06, 2019 6:53 am

donguri wrote:
Wed Jun 05, 2019 10:23 pm
We're still on very friendly terms with the owner, he still has land in the area and he always stops by to eat lunch (we opened a restaurant on the first floor of his old house) or organizes his yearly classmate drinking party here. He and his family are really happy that their old house is still standing and cared for, they thought they would just end up tearing it down.
That's really good news, I'm glad to hear the move to countryside living has worked so well for you.

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Re: Haggling Price of Akiya

Post by LeeB » Thu Jun 06, 2019 7:31 am

"so we offered 1.5 million and said we would deal with the junk ourselves. There was no hesitation when he said YES! So we got a 25% discount and a lot of junk! "

Wow - 500 tsubo of land, a house, and a pile of junk along with all the paperwork done for 1.5 million yen.

That looks like a huge bargain especially for a property in Aichi.

Was there anything good in junk? For example antiques, money, old letters, etc?

This is a perfect example of what I was talking about in another post - the ability of people to buy cheap RE and establish themselves in Japan. Almost impossible to do something like that 40 years ago.

Being younger eliminates the extreme need for close medical facilities or public transport which becomes critical when you get older too.

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Re: Haggling Price of Akiya

Post by donguri » Thu Jun 06, 2019 11:03 pm

Zasso Nouka wrote:
Thu Jun 06, 2019 6:53 am

That's really good news, I'm glad to hear the move to countryside living has worked so well for you.
Thanks, Zasso! I truly love it here. Never worked so hard in my life but at the end of the day the bath feels real good, the beer tastes real good and I sleep real good. Also, health is much improved from when I lived in the city.

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Re: Haggling Price of Akiya

Post by donguri » Fri Jun 07, 2019 2:52 pm

LeeB wrote:
Thu Jun 06, 2019 7:31 am
Wow - 500 tsubo of land, a house, and a pile of junk along with all the paperwork done for 1.5 million yen.

That looks like a huge bargain especially for a property in Aichi.

Was there anything good in junk? For example antiques, money, old letters, etc?
Huge bargain depends on who you ask, heh heh heh. The land actually requires a fair amount of maintenance, so for some folks that's a drawback. I find I enjoy it, although along with running a restaurant, I don't have enough time to do all I'd like to.

As for the junk... at first look it seemed there were mountains of old treasures. Then after you start digging through and examining more carefully and considering the details of use, storage and so on, there turns out to be a lot more junk than hoped. No money. Antiques, diaries, dishes, books, some functional tools, electric piano, furniture ... a lot of the old cabinets and wardrobes were things I'd hoped to use, but in reality, anything made of wood was seriously chewed through by bugs over the years. And usually warped beyond use. Or stinky. We still haven't dealt with everything in the storage house. There were some sweet old postcards and ukiyo-e type posters for the shop that was here way back when. Those are fun to look at and talk about with some of the neighbors.

I kinda like digging through old junk, imagining what it was like back then, but sometimes I dream of how much easier and how much time I'd have if it had all been clear from the beginning!

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Re: Haggling Price of Akiya

Post by Zasso Nouka » Fri Jun 07, 2019 3:20 pm

donguri wrote:
Thu Jun 06, 2019 11:03 pm
Thanks, Zasso! I truly love it here. Never worked so hard in my life but at the end of the day the bath feels real good, the beer tastes real good and I sleep real good. Also, health is much improved from when I lived in the city.
It's undeniably hard work being self employed and can lead to some seriously long hours but the feeling of satisfaction at the end of the day when running your own business is incomparable to working full time for someone else IMHO.

When Mrs Nouka comes in from a busy day in the cafe or I've finished for the evening in the fields it definitely beats working in my old life configuring Cisco Routers or Firewalls or setting up load balancers and sorting out BGP peering issues. You know you've got some satisfied customers who have enjoyed the fruits of your labour and that is something tangible and deeply satisfying.

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Re: Haggling Price of Akiya

Post by Zaimondos » Fri Jun 07, 2019 3:53 pm

donguri wrote:
Fri Jun 07, 2019 2:52 pm

As for the junk... at first look it seemed there were mountains of old treasures. Then after you start digging through and examining more carefully and considering the details of use, storage and so on, there turns out to be a lot more junk than hoped.
We’ve found we’ve underestimated the junk at our place too, especially in the sheds. We break it down, bag it and throw it away but it seems to grow back!

We’re going to bite the bullet and pay someone to come and take it all away in one go I think.

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Re: Haggling Price of Akiya

Post by gonbechan » Fri Jun 07, 2019 6:40 pm

I have always wondered (and googled but to no avail) if there is such a thing as skip rental in Japan.
My Google foo is usually pretty good but I have had absolutely no luck at all.

As per haggling. We are from the Kansai and we haggle almost for any large purchase it is somewhat the norm here.
It usually pays off.