Congratulations on your decision to purchase real estate on Martha’s Vineyard Island! As you already know, The Vineyard is a wonderful place to live and vacation.
The informative links below will help you through the process of buying property on Martha's Vineyard. If you have any questions, please contact us. We would be happy to review the process personally with you.
At RE/MAX® on island, Martha's Vineyard, we are proud to be members of MLSPIN® in Boston and the Cape and Islands MLS in Hyannis. Both of these organizations provide you (and us) access to the most up-to-date information on homes and properties for sale on Martha's Vineyard Island.To learn more about "MLSPIN® (Boston) and Cape and Island MLS" click here.
A Buyers' Agent is your advocate in a real estate purchase. A Buyer's Agent will help you negotiate the price, understand the market, help keep your emotions in check (purchasing property can become a very emotional experience) and recommend lawyers and home inspectors. To learn more about Why Use a Buyer's Agent click here.To learn more about " Why Use a Buyer's Agent?" click here.
All real estate agents in Massachusetts are required, by law, to disclose in writing whether they are working as a seller's agent, a buyer's agent, a disclosed dual agent, a designated agent or a transaction facilitator. At RE/MAX® on island we do not practice designated agency or act as a transaction facilitator. To learn more about Agency Disclosure, click here.To learn more about "What is Agency Disclosure?" click here.
On Martha's Vineyard Island, most properties are entered into a local database called LINK (Listing Information Network). This LINK system (a multiple listing service) distributes the information to Island real estate agents and to the public (username and password required). Contact a RE/MAX® on island agent to obtain your username and password or click here to view the LINK database.To learn more about "What is LINK?" click here.
Figure into your financial calculations a 2% fee, payable to the Martha’s Vineyard Land Bank at closing. This conservation group was voter-approved in 1986 to preserve various ecosystems across the Vineyard. First-time homebuyers who will be purchasing their primary residence are exempt on the first $400,000 of the purchase price.To learn more about "What is the Martha's Vineyard Land Bank Fee?" click here.
Homes built prior to 1978 may contain lead paint. Know your rights.To learn more about "Lead Paint Facts" click here.
In exchange for pledging your loyalty to us by signing a Buyer Contract, we offer you our knowledge, experience, and valuable insight on the buying process, market trends, and current properties for sale.To learn more about "Buyer Contract--Massachusetts" click here.
Should you need to finance a portion of the purchase price, we have several island lenders who can help. We recommend consulting an island lender prior to making an offer so you can present a "prequalification" letter at that time. Island lenders know the local market and can, many times, overcome hurdles that off island banks cannot. Click here to learn more about Financing Your Purchase on Martha's Vineyard.To learn more about "Financing Your Purchase on Martha's Vineyard" click here.
You should always have a home inspection done prior to signing a purchase and sales agreement. Your buyer’s agent can recommend a reputable inspector.To learn more about "Getting a Home Inspection" click here.
On Martha's Vineyard, there is a 2-step contract process when buying real estate. You should hire an attorney to represent your best interests in this important legal transaction.To learn more about "The Legal Process of Buying a Property on Martha's Vineyard" click here.
You may be eligible to defer capital gains taxes by using a 1031 tax-deferred exchange.To learn more about "How to Defer Capital Gains" click here.
If you plan on financing any portion of your purchase, use this tool to get an idea of your monthly mortgage expenses. Know exactly what you can afford.To learn more about "Mortgage Calculator" click here.
All of our agents at RE/MAX® on island are members of the NATIONAL ASSOCIATION OF REALTORS®. Members of this organization follow a strict code of ethics and maintain high standards of practice that go beyond mandates set by Massachusetts law.To learn more about "Using a REALTOR®" click here.