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Finding the right home at the right price is just one aspect of a real estate transaction. Island Real Estate Ltd. is experienced at helping both buyers and sellers when it comes to closings. E-mail or call us today at (284) 342 2222 if your needs include a real estate pro ready for the business side of buying and selling.

Closing costs you should expect

There are certain typical fees accompanying closing the sale of a house. Many are universal, but there are nuances to each, so you'll want a real estate expert in British Virgin Islands to help lead you through your process.

Costs pertaining to your mortgage to be paid at closing    (Details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment

At closing, these taxes are usually collected    (Details)

  • Property Taxes
  • 12%Transfer Taxes and Recording Fees
  • Attorney fee of 2% of the 1st 50K, 1.5% of balance of purchase price
  • Non Belonger Land Holding Licence Fees

Insurance fees due at closing    (Details)

  • Homeowners Insurance
  • Private Mortgage Insurance (PMI) (optional)

Sellers: As we hammer out your deal, I'll not only work to get the very best sales price, but I'll also push for reduced closing costs. And once we've arrived at an agreement, I'll fully explain the closing costs so you know exactly where your money is going.

Buyers: If you're obtaining a Bank Loan in the BVI, you'll get a "Good Faith Estimate" (GFE) of closing costs proir to Closing. The estimate is based on the loan officer's past experiences and is required to be within a reasonable range so you're not astonished when you come to the closing appointment. I'll be willing to go over the GFE with you, answering your questions and highlighting any estimates that seem unusual.


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