Q&A: What are the costs associated with buying, besides the purchase price?

Q&A: What are the costs associated with buying, besides the purchase price?

Question: “What are the costs associated by buying besides the purchase price?”

Chris’s Answer:

Depending on the property and whether you are getting a loan, you could be responsible for:

  • Your attorney’s fees.
  • Home inspection.
  • An appraisal.
  • Owner’s title policy.
  • Property survey.
  • Recording fee for the deed.
  • Lenders title insurance.
  • Title search.
  • Transfer stamp tax (often paid by Seller or split between you).
  • Prorated condo fees.
  • Prorated dues.
  • Prorated HOA fees.
  • Prorated property tax.
  • Prorated property insurance.

Contact us  with any questions about real estate on St. Croix!

Q&A: What are signs of a great Buy-Realtor relationship?

Q&A: What are signs of a great Buy-Realtor relationship?

Question: “What are signs of a great Buy-Realtor relationship?”

Christie’s Answer:

We work in partnership with Buyers. Here’s what we hope for:

  • Good and honest communication.
  • Someone who does their research and homework, and reads a property’s description before going to see it.
  • Someone who asks questions. It’s important that the Buyer understands and feels comfortable with every step along the way.
  • Buying is a collaborative effort between the Buyer and Realtor, which takes trust and mutual respect.
  • A person who desires to work toward the goal of ownership.
  • Flexibility with their time. Many deals need additional time to solve unforeseen challenges.
  • A sense of humor. Buying property is stressful. A sense of humor will get you through.

Contact us  with any questions about real estate on St. Croix!

15 Steps to Buying a Home

15 Steps to Buying a Home

Purchasing real estate is likely to be the biggest and most complex financial transaction a person will make in their life. A trusted real estate professional is a strong advocate who understands the information and the process. As experts with knowledge of the local market, we are well prepared to guide Buyers through all the practical details and potential obstacles which may occur during the purchase process.

We are your information resource, negotiator, advocate, problem solver, and calendar watcher. Even if you have bought property in the states, buying in the US Virgin Islands can be different.

Buying real estate is unlike buying anything else. It’s complicated. An experienced Realtor is the close professional ally who can make a world of difference for you. If you are considering buying property here on St. Croix, please contact us, and let’s start working together towards reaching your goals!

In the video below we walk you through the 15 steps to buying a home. Let us know if you have any questions!

Seaborne Airlines’s new fleet gives USVI more options

Seaborne Airlines’s new fleet gives USVI more options

We are excited to hear about Seaborne Airline’s addition of the new aircraft and overhaul of the existing seaplanes! According to Seaborne’s general manager as reported by WTJX, the new fleet will result in more connectivity and reliability when it comes to inter-island travel and allow Seaborne to expand its operations throughout the Caribbean. The new seaplane will be operating between St. Croix and St. Thomas.

Read the full article here.

Photo from WTJX

Economic Growth from Potential Ship Repair Facility Could Generate Up to $73 Million Annually

Economic Growth from Potential Ship Repair Facility Could Generate Up to $73 Million Annually

The U.S. Virgin Islands is considering expanding its maritime capabilities with a new shipyard in the South Shore Trade Zone (SSTZ) on St. Croix, according to the V.I. Economic Development Authority, which commissioned a feasibility study conducted by First Marine International, a subsidiary of Royal Haskoning DHV. The VI Consortium reported recently that a feasibility study indicates a new shipyard could substantially increase employment and economic benefits in the U.S. Virgin Islands. The article points out that while the study concludes the economic viability of the shipyard, it recommends further evaluations concerning capital expenditures and exploring alternative funding sources before proceeding. The potential for private sector involvement and the development of a skilled workforce through local training and apprenticeships are seen as critical elements for the shipyard’s success.

The possibility of the shipyard bringing significant boost to local economic growth is fantastic news. Read the full article here.

Photo from VI Consortium