Purchasing Property in the USVI

| Posted: 31-07-2007 | Comments: 0 | Views: 14 | Rating: (51)

(?)

The United States Virgin Islands' has a weather that is so beautiful every part of the year. The beaches are powdery and made up of white sand. The sun shines continually and most days are in the 80's and most nights in the 70's. The summer is only slightly warmer. Humidity is very low in this part of the world, thanks to the easterly trade winds that are a continual part of island life. Nearly any piece of USVI real estate you choose will be at a very low elevation. The highest spot on any island is Mountain Top, which soars only slightly to 1550 feet.

As with just about any area of the world, the island real estate is available in several categories. You might want to buy your own house or condo, invest in homes as income rental property, buying commercial or retail property, or purchase raw land.

No matter what you are thinking and why and whether it's St. Thomas real estate or real estate on other parts of the islands, there are some important points to consider. You take to realize for instance, that when you own Virgin Islands' real estate, even though the area is an unincorporated U.S. territory, your title has the same constitutional protection and guarantees as if you bought real estate in downtown St. Louis, along the strand on Myrtle Beach or wherever else in the U.S. You will own your piece of islands realty fee simple and your deed will be filed at the USVI Recorder of Deeds. You couldn't pick a more gorgeous and enjoyable area of the country, or perhaps the world when you choose to invest in USVI real estate.

When you make the conclusion to buy St. Thomas real estate, or elsewhere in the Virgin Island, you have your choice of several banks or other financial institutions. First Liberty Mortgage Company, Merrill Lynch, First Bank, Banco Popular and the Bank of Nova Scotia all do business in USVI. What is required of the buyer by the banks is payment for the cost of a title search, the purchase of title insurance, payment for property appraisals, a written certificate by a surveyor, an as-built survey, inspections of structure and pest issues, the fees for the bank attorney and the buyer's attorney, and any fees that comes with the recording and securing of the loan for the mortgage.

Standard hazard insurance, to protect your USVI real estate from damage caused by earthquakes and windstorms, is approximately two to three percent of the property's replacement value. If the frame of the property is wood rather than stone or masonry, this can be higher.

Rate this Article:

Current: 0 / 5 stars - 0 vote(s).

Article Tags: Property, Virgin Islands, USVI

Article Source: http://www.articlesbase.com/home-business-articles/purchasing-property-in-the-usvi-191288.html

Print article

Send to friend

Publish this Article

Author feedback

About the Author:

Garland Choate (GR) is a retired Airline Captain who now publishes articles from the USVI. Find many great articles about Caribbean Living and great luxury homes in paradise at http://www.StThomasLuxuryHomes.com

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Add new Comment

The Best Beachfront Vacation
By: Nancy Holloway-Prince | 28/08/2008 | Vacation Rentals

Diving In St. Croix
By: J Allen | 25/10/2007 | Travel
Travel related articles, including flight destinations, hotels and special tours.

Luxury St. John Villas – not Just for the Rich and Famous
By: Andi Vacharat | 18/04/2008 | Vacation Rentals

Getting the Best Transaction in Miami Real Estate
By: Eliza Maledevic Ayson | 20/08/2007 | Real Estate

Stop Home Repossession
By: michael sterios | 04/09/2007 | Real Estate

Webmasters Real Estate Marketing is the Key to Success
By: Nicholas Marr | 26/09/2007 | Internet
Internet Related Articles

Fulfill your Financial Needs Without Any Burden With Secured Loans
By: M Imran | 07/10/2007 | Insurance

Living in Asia Condominiums
By: Wantanee Khamkongkaew | 10/10/2007 | Non-Fiction

Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Property between spouses
By: dani | 21-08-2008
Is a "secret" cell phone bought by one spouse also the other spouses property? in the state of Californic.

I have a house which is rented and i bought ...
By: jsb | 20-08-2008
I have a house which is rented and i bought another house which i have problems making payment. If i go to forecloure can the bank go after my other house.

late ...
By: angel ramorino | 20-08-2008
late on rent for 4 months I have a tenant who is late on the rent for 4 month ,He is a contractor who rent from me for his workers and He paid for them the rent , my question is , can I put a lien in the house is under contraction?

What does
By: NurseATM | 20-08-2008
What does "foreclosure redeemed "on your credit report mean ?

Landlord rights to a clean property
By: Nicole | 19-08-2008
Does The Landlord Have the right to ask a tennant to clean the filth caused by the tenant on the premises where the tenant resides? I have a tennant that is so filthey that the carpets are moldy and covered in cat feces.

Get pictures of my property from a satellite imate ...
By: Laura | 19-08-2008
get pictures of my property from a satellite imate? were would I go to get this? Kaluah053@aol.com

Q&A Powered by:

Latest Home Business Articles

How to Uncover the Best Home Business Ideas
By: Boris Tomson | 11/10/2008
Ideas are a dime a dozen. But some ideas are truly the best home business ideas. These ideas are ideas as big as Microsoft, and some others are a little more modest.

Data Entry Work at Home - the Tools of the Job
By: Boris Tomson | 11/10/2008
The home office has become just as important as the kitchen in many households. Having a neatly setup home office can greatly improve your chances of success in your data entry work at home job.

Legitimate Work From Home Jobs Reviewed-how to Find a Legitimate Work From Home Job
By: Valeri Tkatchenko | 11/10/2008
Working from home is becoming more and more popular these days since the world economies started failing and causing thousands of people to lose jobs every week! The tough part is of course finding legitimate work from home jobs because there are way too many scams and worthless systems that claim to earn you thousands of dollars a week which of course is not true. The safest bet when looking for legitimate work from home jobs is to read the work from home jobs review, they are generally spot on

Honest Work From Home - is This the Best Work From Home Idea Ever
By: Boris Tomson | 11/10/2008
If you are anything like most people I speak to, you have a desperate desire to work from home, but are infinitely concerned about finding honest and legitimate opportunities to pursue.

Legitimate Data Entry Jobs From Home - Here’s How to Find One
By: Boris Tomson | 11/10/2008
If you’re researching work at home opportunities then you’ll see plenty of ads for data entry, however very few are actually legitimate data entry jobs. Promises of huge earnings for little work are a common theme,

Can You Make Money Doing Data Entry
By: Boris Tomson | 11/10/2008
Internet data entry jobs are a very popular way to make money online, especially if you have little experience and are new to the whole concept of working from home on your computer.

How to Become an Online Data Entry Worker
By: Boris Tomson | 11/10/2008
If you’re thinking about looking for work online then you might have considered becoming an online data entry worker.

Work at Home Moms Know the Secret! Do You
By: Boris Tomson | 11/10/2008
Do you want to be one of those lucky work at home moms who gets to spend great, quality time with her children? I know many work at home moms who believe that leaving the world of big business and forming their own niche was the best thing they could have done for themselves and their families

More from Garland Choate

WAHW and HOW to be in the Internet Marketing Business
By: Garland Choate | 17/08/2007 | Affiliate Programs
Internet Marketing, it's all out there... Don't miss to get involve and be part of the circle.

Tips To Online Business
By: Garland Choate | 13/08/2007 | Affiliate Programs
How to start and maintain online business

The Dos and The Donts of Internet Marketing
By: Garland Choate | 13/08/2007 | Affiliate Programs
Pointers to remember for internet marketing

Economic Qualifiers for United States Virgin Islands
By: Garland Choate | 10/07/2007 | Non-Fiction
This article shows you how to qualify for the EDC 90% Tax reduction program in the USVI.

EDC with Uncle Sam
By: Garland Choate | 09/07/2007 | Non-Fiction
We are a US Virgin Island Real Estate firm that will help you relocate to St. Thomas and find your home. We also have information about the USVI EDC program that may save you 90% on your income taxes.

Virgin Islands Tax Benefit
By: Garland Choate | 05/07/2007 | Non-Fiction
We are a US Virgin Island Real Estate firm that will help you relocate to St. Thomas and find your home. We also have information about the USVI EDC program that may save you 90% on your income taxes.

5 Ways to Fail on eBay
By: Garland Choate | 30/06/2007 | ECommerce
5 ways that will kill your sales on eBay.

Chewing And Digging - Two Habits To Break
By: Garland Choate | 28/06/2007 | Pets
Good suggestions about how to stop your dog from chewing on things and digging.

Article Categories

Article Marketing

Article Notepad

Stop Duplicate Content

Term Papers

Need Help?

Sign up for our email newsletter

Receive updates, enter your email below

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.28, 17)

Purchasing Property in the USVI

Article Comments

Related Articles

Got a Question? Ask.

Latest Home Business Articles

More from Garland Choate

Need Help?

Site Links

Webmasters

Business Info

Sign up for our email newsletter