| The United States Virgin Islands' has a weather | | | | else in the U.S. You will own your piece of islands |
| that is so beautiful every part of the year. The | | | | realty fee simple and your deed will be filed at the |
| beaches are powdery and made up of white | | | | USVI Recorder of Deeds. You couldn't pick a |
| sand. The sun shines continually and most days | | | | more gorgeous and enjoyable area of the |
| are in the 80's and most nights in the 70's. The | | | | country, or perhaps the world when you choose |
| summer is only slightly warmer. Humidity is very | | | | to invest in USVI real estate. |
| low in this part of the world, thanks to the | | | | When you make the conclusion to buy St. |
| easterly trade winds that are a continual part of | | | | Thomas real estate, or elsewhere in the Virgin |
| island life. Nearly any piece of USVI real estate | | | | Island, you have your choice of several banks or |
| you choose will be at a very low elevation. The | | | | other financial institutions. First Liberty Mortgage |
| highest spot on any island is Mountain Top, which | | | | Company, Merrill Lynch, First Bank, Banco Popular |
| soars only slightly to 1550 feet. | | | | and the Bank of Nova Scotia all do business in |
| As with just about any area of the world, the | | | | USVI. What is required of the buyer by the banks |
| island real estate is available in several categories. | | | | is payment for the cost of a title search, the |
| You might want to buy your own house or | | | | purchase of title insurance, payment for property |
| condo, invest in homes as income rental property, | | | | appraisals, a written certificate by a surveyor, an |
| buying commercial or retail property, or purchase | | | | as-built survey, inspections of structure and pest |
| raw land. | | | | issues, the fees for the bank attorney and the |
| No matter what you are thinking and why and | | | | buyer's attorney, and any fees that comes with |
| whether it's St. Thomas real estate or real estate | | | | the recording and securing of the loan for the |
| on other parts of the islands, there are some | | | | mortgage. |
| important points to consider. You take to realize | | | | Standard hazard insurance, to protect your USVI |
| for instance, that when you own Virgin Islands' | | | | real estate from damage caused by earthquakes |
| real estate, even though the area is an | | | | and windstorms, is approximately two to three |
| unincorporated U.S. territory, your title has the | | | | percent of the property's replacement value. If |
| same constitutional protection and guarantees as | | | | the frame of the property is wood rather than |
| if you bought real estate in downtown St. Louis, | | | | stone or masonry, this can be higher. |
| along the strand on Myrtle Beach or wherever | | | | |