Mill and buildings ...
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Mill and buildings for sale

(@East End Doug)
Posts: 256
Reputable Member
Topic starter

I have been looking on the St. Croix MLS and found a property with a mill and building for sale.It has been listed on the MLS since 1999 and has not sold ( I wonder why).The property is zoned R-3 and looks like it would meet my needs.Are there restrictions on what i do to the mill? I understand historic properties can be a problem to make changes to. The property is located in La Grande Princess.Anybody know this property? Can you give me any advice about historic building restrictions.

Posted : May 19, 2006 2:28 pm
Posts: 532
Honorable Member

call david or stephanie at farchette and hanley real estate (340) 773 4665- they are listing this property and are long time stx realtors - I believe it is the Carlton Varney property. Ask about zoning, building permits - structural condition issues etc. Ask the usual questions - if it has been under contract and if so, why did it fall thru etc?
If this isn't the place for you, then somewhere else may be just around the corner.

Remember to always get a licensed inspector/contractor to inspect any property like this on YOUR behalf before you plonk down any cash.

Also bear in mind that any realtor, unless working for you as a Buyer's agent, with a signed contract to do so, is legally bound to work for the seller, to get the best price, get the place sold etc. and is not working for you.
When a seller lists - their contract states that they will pay 3% (usual amount) to the realtor/broker who brings a buyer to them. They are paying your friendly realtor, not you.
that said, we have some excellent professionals in the BIZ.

Posted : May 19, 2006 3:41 pm
(@East End Doug)
Posts: 256
Reputable Member
Topic starter

Thanks Jane for your input,
I understand the realtor's part of the property sale.They represent the owner. What I want to know what's the reason this building has gone unsold for so long.Seems that most R-3 properties don't go up for sale often, or sell with in a year if they are priced at realistic level.
I always would like to know the background on any old buildings on St. Croix.Seems titles and ownership on many old properties on the island have a lot of clouds and jumbies to tangle up things.
I will consult with a inspector and get my own representation if I move ahead on this site.Always good information on this message board.

Posted : May 20, 2006 2:33 am
Posts: 249
Estimable Member

My husband and I did a walk through of this building in April of 04. The building sits back on the property from the road on a hill. It has a lot of front anchorage to possibly expand on. It has two biuldings with a front courtyard area and wrought iron fencing around it. The first building is a front room. Has a kitchen (kinda outdoors) The big building has a basement (needed a lot of work (acess outside) The main living area, Lg living room Windows looking out over a deck, Kitchen was in the bottom of the mill. Couple bedrooms. The top floor of the mill was a bedroom acess outside around the edge of the mill to top floor. My memory of the lay out is topped out. I remember that it needs a lot of work. Replacing carpet, windows, any of the wood used (mainly the deck), appliances. Painting, some electrical. I did like it though but definately to much for Mark and I in the way of work to be done. It would definately be a place you could live in while work is done, with the seperate building.

I would strongly recommend you not buying site on seen.

Posted : May 20, 2006 7:08 pm
Posts: 83
Trusted Member

I know some information about the property if you want to PM me.

Posted : May 22, 2006 4:08 pm
Posts: 1428
Noble Member

The property in question has not been able to be financed by mortgage companies for a variety of reasons. A cash buyer at full listing price is the only way the seller will sell. Some of the reasons it doesn't qualify for a mortgage include that none of the half dozen bathrooms on the property has a working shower. Some of the sinks work and at least one toilet works. Most of the property is in serious disrepair. The state of neglect is also why mortgage companies shy away from the property. Serious renovations and rebuilding need to be done before a mortgage company would feel their investment was secure enough to underwrite a mortgage loan on this otherwise beautiful property.

The historic ruins are appealing and there is a nice ocean view. The two acre parcel has a great front lawn running down a gradual slope to the fenced/gated entry from the main road. The location just west of C'sted is convenient but the estate sits in its own grounds in a way that feels removed from the project housing and other neighborhoods that surround it.

It will be a good project for someone who has the cash to buy it and renovate it. Unfortunately most buyers don't have that much to put into the property without getting a mortgage loan up front.

The historic ruins on the property have been built around in the past, which makes it more possible to renovate the property incorporating the ruins into your design. Some of the more recent additions would need removed before reconstructing. The ruins are the sturdier part of the structure!

Posted : May 24, 2006 9:56 pm
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