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Buying a house questions
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.
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.
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.
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.
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.