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Buying a house questions

traclod
April 09, 2017 02:09AM

Registered: 4 years ago
Posts: 15

Hi All, I am in the process of buying a home on St.Croix, however I am new to the expected cost of getting a survey, license inspector, and various other items. Also is there someone that cost reasonable and does a good job. Searching for as much information as possible on people that can do the work and getting an estimated cost.

Re: Buying a house questions

singlefin
April 09, 2017 10:40AM

Registered: 4 years ago
Posts: 665

Any realtor on island could point you in the right direction. I believe there are only five licensed surveyors on STX.
One thing to expect when buying a home, expect the unexpected. If these expenses are already causing you difficulties, perhaps a condo might be a better option. The cost of home maintenance, electricity, and most living expenses are also considerably higher here than in most states.

Re: Buying a house questions

Gator's Mom
April 09, 2017 11:29AM

Registered: 5 years ago
Posts: 830

I recommend conferring with your realtor and/or the attorney who will be handling the closing for you to find out who they prefer to work with.

Do you really need a new survey? An inspection is useful though - particularly it helps to have your cistern and roof inspected. You might get some credit back from the seller on these items if they are close to needing cleaned/painted.

Don't fear owning a house on STX. Just buy well and enjoy the adventure.

Re: Buying a house questions

daveb722
April 09, 2017 12:16PM

Registered: 3 years ago
Posts: 484

Sent you a PM

Re: Buying a house questions

Wolverine888
April 17, 2017 04:26AM

Registered: 1 year ago
Posts: 187

What kind of housing can I expect to OWN, not rent on St. John? Thx for any input

Re: Buying a house questions

Afriend
April 17, 2017 06:27AM

Registered: 11 years ago
Posts: 447

Quote
Wolverine888
What kind of housing can I expect to OWN, not rent on St. John? Thx for any input

It all depends on how much money have you got to spend on your house.

Re: Buying a house questions

caribstx
April 17, 2017 08:01AM

Registered: 4 years ago
Posts: 434

Quote
Gator's Mom
Do you really need a new survey?

You won't get a mortgage without a current survey.

Re: Buying a house questions

Gator's Mom
April 17, 2017 01:44PM

Registered: 5 years ago
Posts: 830

That's true but not everyone has a mortgage. You don't necessarily need an inspection, survey or even homeowners insurance if you don't have a conventional mortgage.


Quote
caribstx
Quote
Gator's Mom
Do you really need a new survey?

You won't get a mortgage without a current survey.

Re: Buying a house questions

Alana33
April 17, 2017 02:06PM

Registered: 6 years ago
Posts: 11,847

It's always good to have a survey, especially if there hasn't been one done recently. A bank will require one as mentioned as well as home inspection and insurance.

All kinds of issues can develop if there's been any encroachments onto the property. If this will be your primary home, it may be a tax deductible cost. Check with your accountant.

I might add that even if you're paying cash, not having an inspection and homeowners insurance is, IMO, foolish unless you're so wealthy you can afford to replace and repair your property in the event of a catastrophic disaster.



Edited 1 time(s). Last edit at 04/17/2017 02:33PM by Alana33.

Re: Buying a house questions

Scubadoo
April 17, 2017 10:06PM

Registered: 3 years ago
Posts: 1,999

And you may even want your own independent appraisal unless you are completely comfortable and confident with the contract price.

Re: Buying a house questions

Alana33
April 17, 2017 10:17PM

Registered: 6 years ago
Posts: 11,847

Banks require Appraisals.
They use their own appraisers on rotation, however, you're paying for it.
It's good to have one, if you're paying cash.
It can bring down the bottom line or make you feel confident in your investment. Do your homework. Ask your agent for comps.

Re: Buying a house questions

Gator's Mom
April 18, 2017 08:29AM

Registered: 5 years ago
Posts: 830

Quote
Alana33
Banks require Appraisals.
They use their own appraisers on rotation, however, you're paying for it.
It's good to have one, if you're paying cash.
It can bring down the bottom line or make you feel confident in your investment. Do your homework. Ask your agent for comps.


Don't forget a title search and title insurance. Must haves for any real estate transaction.

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