house hunting

I would recomend talking to Alexandra. We could'nt have been treated any better on our house hunting trip to STX. We are saving our pennies and will be buying something from her when the day comes. She is always posting and helping folks with alot of good info. You ought to give her a shout. Senceremente'
Norman Paperman

I'll second the recommendation of Alexandra. Go to her web site that is listed on this site, www.ourhomesite.com. She has got to be the hardest working real estate agent (person) on STX. She has helped more people than any of us could possibly know, I'm sure.

Hi Aspen,
You might want to consider using a "Buyer's Agent". There is a great company on St. Croix . They solely represent the "buyer" and work exclusively for you, not the seller. Their phone # on St. Croix is 340-719-4065 and email is info@buyersagentvi.com. Good Luck.

I second the concept of making certain that whoever you get to help you look be willing to agree in writing to act solely as a buyer's agent. (This may mean that you agree to pay a guaranteed commission to your agent should the seller's agent refuse to split their commission.) Just over two years ago we interviewed far more than a dozen agents on STX about acting as our buyer's agent and found a widespread attitude of "Even if I spend my time with the buyer, the seller still pays my commission so I ultimately work for the seller." One agent even told us he had a strict policy of NEVER sharing his sales commission with a buyer's agent. I was shocked at how different it was here than in the places I'd bought property in the lower 48.

Also, hire a real estate attorney. I haven't yet heard of a real estate transaction in which the seller did not also have an attorney in addition to the real estate agent, and as the buyer having a pit bull attorney on retainer to review contracts, fight for your interests if undisclosed known defects surface before closing, etc. can save you thousands of dollars and acres of heartache and anxiety.

Finally, keep up the battle to not be dragged to the East End to view homes when you know that's not where you want to end up -- whatever the reason. There are lots of other areas that will meet your needs and provide you a safe home in a good neighborhood with room for your doggies to romp in a yard. We know you can persevere -- and win because we went through the same thing, and now live in a wonderfully renovated former fix me upper pit with a fenced i/3 acre lot in the Tan Tan Terrace area of Estate Sion Farm.

(FYI, the real estate agent(s), mortgage broker, and attorney we worked with all strongly recommended we abandon our demands to see the house we'd tracked on the net and ended up buying and instead buy the lowest cost home we could find on the East End. Side note that may/may not be a factor is that all three were relatively well off white island transplants.)

Am going to try and provide a link here to a previous post with a lot more I wrote about my neighborhood for those who might be interested. Should I be unable to do this as soon as I'd like, I'm pretty sure it could be found fairly easily by choosing the search feature for the board, and then looking for posts authored by hipcrip. (Compliment to Islander and tip for newbies: this board's search feature is awesome for its ability to find info by key word and author. It is a great way for those so inclined to find a wealth of previously posted advice on a specific area of interest.)

Best wishes,
--HipCrip

It is my understanding from past conversations (although things might have chanced since then) that the realty companies on STX that advertise as Buyer's agents don't tend to sign contracts with the buyers they work with about being buyer's agents. Part of their way of discerning themselves as buyer's agents is through not listing properties for sale for sellers, as then they would obviously have a contractual obligation to represent that seller even if they brought the buyer who wanted to purchase the property.

In many states, it is common for the listing agent and/or his/her broker to represent the seller and for the agent working with the buyer to represent the buyer. Sometimes you get one agent working with both sides and there is a disclosure requirement for dual-agency. That is rare. Most often there are two agents working opposite sides of a transaction.

The key in any real estate purchase and sale is for the buyer to find a Realtor he/she feels comfortable with and who truly understands your needs. It does nobody any good for the agent working with the buyer to try to take advantage of that buyer on behalf of the seller. That will likely kill a sale, which is in nobody's best interest, certainly not the seller's!

It is very possible for an agent to work honestly and fairly with all parties in a transaction. A buyer should make sure he/she is comfortable with the property being purchased before making an offer or removing contingencies. The agent you select should be willing to show you ALL your options on the island, not just those in a certain neighborhood or sector. If your agent refuses to show you anything west of Christiansted, you might want to ask around and find one who will. In the end, you might find that you like a property in Cotton Valley and make an offer on it, but don't do that until you have done your homework! Buyer's remorse is common even in situations where the buyer would have made the same decision if he had all the facts in advance. Being sure you have explored all your options will give you a better emotional experience in your purchase process.

Get your agent to provide comps for other properties similar to the one you like so you can evaluate if the listing price is high or low or just right before you decide how much you want to offer for the property. Make sure your contract includes contingencies to allow you to do an inspection. You can walk away if you don't like what the inspection discloses or you can ask for some repairs to be made or renegotiate the purchase price if appropriate. Ask to see any HOA covenants early in the process, give yourself time to get your mortgage approved, and make sure you get an inventory list by a designated date so you know for sure what is coming with the property purchase.

For buyers who will be relocating from the mainland and the purchase will close before you arrive on-island, find out if your agent will help you with getting your WAPA account opened, with letting in workmen for any repairs you might want done prior to move-in, etc. Some do and some don't, but it can save you a lot of headache if they will be there to help you after the sale.

On the mainland, real estate is often about showing properties, filling out contract forms, turning the negotiated contract over to an escrow company to handle the remaining details and eventually collecting your commission check. In the islands, it's a lot more involved. It's a relocation service, not just a sales job. Again, some agents will understand this better than others and the service you receive will vary from agent to agent. There are many good agents available. Some people get lucky on their first contact and others have several failed attempts with assorted agents until they find one who matches their needs.

Best of luck to all Buyers who are exploring purchase opportunities in the islands. This is still a good time to invest. Choose your property wisely and you won't regret your decision later. Choose your Realtor wisely and you will also be happier later. An agent who is right for one buyer may not be right for another. None of us can be all things to all people. But we CAN be honest and fair with all people. You, as a Buyer, have a right to expect that.

Couldn't agree more about the recommendation of Alexandra. She went far and above what was required. After the sale, she helped us since we were off island. She did not have to do this, it's just the type of agent she is.