For Buyers

A title and escrow company is a neutral third party that facilitates the real estate transaction. They handle the transfer of property ownership, ensure the title is clear of liens or encumbrances, hold funds in escrow until all conditions are met, and coordinate the closing process. In Guam, using a reputable title company is essential for a smooth transaction.

Title insurance protects both the buyer and lender from financial loss due to defects in the property title, such as unknown liens, errors in public records, or claims against the property. It's a one-time premium paid at closing and provides coverage for as long as you own the property. Title insurance is highly recommended for all real estate purchases in Guam.

The loan process typically takes 30-45 days from application to closing, though it can vary based on the lender, loan type, and complexity of your financial situation. Factors that can affect the timeline include property appraisal, underwriting review, and documentation requirements. Working with an experienced lender and having all documents ready can help expedite the process.

Yes, you can choose to pay your property taxes and insurance directly rather than through an escrow account. However, many lenders require an escrow account, especially for conventional loans with less than 20% down payment. If you have sufficient equity or a large down payment, you may have the option to pay these expenses directly. Discuss your preferences with your lender during the loan application process.

No, you do not need to be a U.S. citizen to buy property in Guam. However, there may be some restrictions on certain types of land. It's best to consult with a local real estate attorney to understand any specific requirements based on your situation.

Closing costs in Guam typically range from 2-5% of the purchase price. These include loan origination fees, title insurance, escrow fees, recording fees, and prepaid taxes and insurance. Your lender will provide a detailed estimate early in the process.

The typical home buying process in Guam takes 30-60 days from accepted offer to closing. This timeline can vary based on financing, inspections, and any negotiations. Cash purchases can often close faster, typically within 2-3 weeks.

In Guam's tropical climate, pay special attention to: moisture and mold issues, termite damage (common in tropical areas), roof condition (important for typhoon season), air conditioning systems (essential for comfort), and foundation stability. A qualified local inspector will check all these areas thoroughly.

Yes! Military families can use VA loans, which offer excellent benefits like no down payment and no private mortgage insurance. I have extensive experience working with military families and understand the unique challenges of relocations, deployment schedules, and PCS moves.