Would anyone have any recommendations for mortgage brokers for STT? My husband has a job on STT and we are looking to relocate in the next couple of months. We will be on island next week to view properties. If you worked with anyone in particular that you really liked, we would appreciate the help!
I strongly suggest that you also seek out a real estate attorney if you plan to purchase property. We learned during our 2004 move to STX through painful experience that buying real estate here works quite differently than anywhere else I've experienced. For example, we were unable to find a buyer's agent anywhere -- all real estate agents considered themselves as working for the seller and were eager to take any information they could get out of us re: budget, etc. directly to the seller. We were fortunate that our mortgage broker told us to get an attorney before we hooked up with the agent -- we would have been screwed four different ways if we didn't have someone hired and paid by us to watch out for our best interests.
If possible, I'd also recommend that one or both of yoube on island to hire the inspector of your choice, to make sure the inpection occurs within the time frame specified in the contract, and to be present during the home inspection. If you can't do this, I think it would be well worth the cost to have your attorney manage the inspection process so there is someone there who isn't motivated to do anything possible to make the sale go through. The $1200 we invested in an attorney to work with us from beginning to closing ended up saving us more than $15k.
Sorry I can't recommend anyone on STT to help you out. Hope your PMV and house hunting goes well and that you find the perfect place to live.
I used Brice McGlauuglin from flagstar bank... I dont have his number avaialble but email me direct and i will find it for you. He was good and fair but the fact that im a mortgage banker(w/o a VI lender) myself probably helped my cause. My realtor was Shane Foster from john foster realty(east end office) and she was great!
I too worked with Brice and, while I found him very nice and efficient, he did provide me with some inaccurate information. At the end it was between Flagstar Bank and First Bank and if I had known the correct information I would have chosen First Bank. I closed in May 2004 and I recall the rates being within a half point of each other. I have no experience with Scotia but I they are aggressively pushing mortgages and are adverstising reduced rates. Also, consider that Flagstar Bank sold my mortgage to Chase within 6 months. May not matter to you but it's kind of annoying having to chase (get the pun?) my mortgage all over the US. A loan from an on-island bank stays here.
Regarding home inspectors, I loved working with Adrian Bishop.
Lastly, I agree with HipCrip that a real estate attorney would serve you well. And I don't say that simply because I am an attorney. There are many issues that may arise (including taxes).
Whatever, you decide, I hope it works out. Have you considered renting for a year first?
I know a guy who is a correspondent lender (better rates than a broker like Brice), does a great job and is funny too! PM me and I'll give you his number. I'd also recommend Louis Flori as an attorney. Call him at 340-777-7800.
I have been looking at property on STX. If you don't mind me asking, who was the Real Estate Attorney, and Home Inspector, That you that you used on STX?
Thank you all for your great help! We really, really appreciate it.
Sent you a reply to your questions via private message. 🙂
Dante - I often suggest Sam Grey as a real estate attorney and Rick Rothenberger as an inspector. Both do a good job and the buyers and sellers seem pleased with their work. Sam's assistant is especially great at staying in touch with the buyer and keeping them informed of the status throughout the closing process.
I'd have to agree with alexandra on sam grey. his office was exceptional in handling our real estate transaction. This come from someone who has many years of experience in law firms big and small. I highly recommend his office.