A closing in the Virgin Islands is not something to fear. You take title to the property you have contracted for in exchange for money. At the closing table with you will be the following parties: The seller, the seller’s attorney, the realtors (you should recognize one of them but in the Virgin Islands both are considered agents of the seller), your attorney, and a title insurer. The seller’s attorney is responsible for drafting the deed, submitting it to the cadastral (unless it’s a condominium) the government agent who pre-approves a deed for transfer of property, acquires the tax letter required locally to record the deed, tax receipts to show the title insurer that the property is current in taxes, and prepares the closing statement, providing the parties with funding requirements and disbursements.Continue Reading Real Estate Closings in the Virgin Islands