Buyer's Guide

Are you already familiar with the different areas of St. John, St. Thomas, or St. Croix? Do you know whether you want a condo, a standalone villa, or perhaps a piece of land to build on? Are you leaning toward the laid-back feel of Coral Bay, the convenience of Cruz Bay, or the privacy of the East End?

If you answered no to any of these questions, this is the perfect time to dive into your research. Start browsing listings, comparing neighborhoods, and thinking about your lifestyle-will you be living here full-time, part-time, or using it as an income-generating vacation rental?

Also, keep a close eye on market trends. USVI real estate is unique, with a limited inventory and a slower pace of turnover, so price movements and listing activity can give you insight into the right time to buy-or how competitive a specific property might be.

Before falling in love with a home overlooking the sea, talk to a lender who understands the USVI real estate landscape. Not all mainland lenders finance properties in the Virgin Islands, and local banks or lenders with experience in the territory are your best bet.

Be aware that financing requirements may differ slightly here-some properties may not qualify for certain types of loans due to access, construction type, or title history. Knowing what you can qualify for not only keeps you grounded, it also strengthens your offer in a market where many purchases are made with cash or pre-approved funding.

Once you've found the right property, it's time to make an offer. In the USVI, offers are typically made in writing using a standardized Purchase and Sale Agreement. Depending on the property, your offer may need to include contingencies such as financing, inspection, or even survey updates.

Island properties can be on the market longer than stateside listings, but that doesn't always mean there's wiggle room-some sellers are emotionally or financially tied to their pricing. I'll help you determine a strong, fair offer based on recent comparable sales, property condition, and seller motivation.

Once your offer is accepted, you'll usually submit an earnest money deposit (typically 5-10%) held in escrow until closing.

Once all contingencies are cleared and financing is approved (if applicable), you're ready to close! Most closings in the USVI are handled by local attorneys or title companies, and the process can take a bit longer than in the states-typically 45 to 60 days from accepted offer to close, sometimes faster for cash deals.

Be prepared for:
- Title insurance (highly recommended)
- Stamp tax (split between buyer and seller, unless otherwise negotiated)
- Attorney or title fees
- Recording fees