I guess I should mention this since I want this blog to include some discussion of real estate issues in the Virgin Islands. The island is a buzz with news of Rosemary Sauter, owner of ReMax Dream Properties on St. Thomas. Well, as of right now, ReMax Dream Properties is closed and Rosemary Sauter is missing in action. A warrant has been issued for her arrest. She is suspected with stealing more than $1 million from escrow accounts and having bounced checks. This means that a lot of people, renting out properties managed by ReMax Dream Properties or planning on purchasing homes, may have lost money. It’s a very sad story.
Paul and I were going to put an offer in on a house just before this happened (Yes, this home building process is very stressful and taking way too long). At the time, I thought we weren’t very lucky since the house went under contract the same day we were going to put in an offer on the house. Looking back on it now, we were very fortunate. We were working with a ReMax real estate agent and had we made an offer we may have lost our earnest money deposit.
To find out more information about this story check out the Virgin Islands Daily News.
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OMG - that is so lucky. I think ever since Bernie Madoff [Spelled correct?] - everyone should not assume anything is safe and question basic financial assumptions. I'm glad to hear you did not get burnt by this!
ReplyDeleteThey caught her! Thursday in Sand Diego - 1/30/14!!
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