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Buyer’s Guide


Figure out how much you can spend and get pre-approved

The Martha’s Vineyard market for homes begins at around $500,000 and runs up to $30,000,000 for some waterfront compounds. It’s quite common that buyers exceed their original budget when buying property on Martha’s Vineyard. It is a good first step to determine how much you can comfortably spend and be able to back it up with verification from a bank or lender. Getting pre-approved for a mortgage allows you to be ready to move when the right opportunity comes along and will help you stand out among other buyers. We have a number of trusted connections with local banks and lenders. We are happy to make introductions!

  • To help you determine what you can afford to spend:
  • - Calculate your monthly income and any debt you have
  • - Check your credit report and FICO score
  • When getting pre-approved for a mortgage:
  • - Choose which type of mortgage you want to use
  • - Talk to multiple lenders and mortgage brokers

Determine what you want vs. what you need

Each town on Martha’s Vineyard is very unique and special in its own way. Down-island towns like Oak Bluffs, Edgartown, and Vineyard Haven are more populated and closer to more grocery, food, and shopping options, while up-island towns like West Tisbury, Chilmark, and Aquinnah offer more privacy, less populated beaches, farm land, incredible oceanfront homes, and unobstructed views. These trade offs and differences will be important in determining where you want to purchase property.


The Search

Explore the Island

Spend some time to drive around the Island, ideally during different times of the year, to get a sense of the location and the feel during the busy summer months versus the quiet and peaceful winter months. Being more familiar with the different towns and areas of the island will help you understand pricing and what location will best satisfy your needs.

Search for homes online

The internet is a great tool for quickly finding new listings, seeing what has already sold, what has been on the market, and more. Check out our property search tool and sign up with an account for access to LINK, the Vineyard’s multiple listing service, to save your favorite properties and get updates on when new listings come to market before anyone else!

Due Diligence

Researching and diving in to learn more about each specific home you are interested in is necessary. We will help advise you throughout the search and we can set up a schedule to show you homes that are best fit for your criteria. We can provide important market data and different metrics for you to consider during your search.


The Offer

Make an offer and negotiate

Offers are made in writing, and we will use our knowledge of the local market and our expertise to work with you and determine the best price. The offer will specify the purchase price, timing for closing, buyer’s, seller’s, and agent’s obligations, and any contingencies.

  • When making your offer, we will guide you throughout the process and make sure these important aspects of an offer are included, if applicable:
  • - Contingencies, such as financial, inspection, or purchase
  • - Special requests or repairs you want included in the sale
  • - Amount for an earnest money deposit
  • - Determine a move-in date

Once both parties agree to the terms and the offer is accepted, it becomes a legally binding document that commits both buyers and sellers to the deal and a Purchase and Sale Agreement is created and signed.


Finalizing the Deal & Closing


Finalize the deal

  • There are a few things that should be done before finalizing the deal:
  • - House appraisal
  • - Professional home inspection
  • - Consider getting specific inspections for structural engineering, roof, and termites
  • - Use the appraisal and inspection reports to further negotiate if necessary
  • - Choose a home insurance company
  • - Complete the loan process with your lender
  • - Do a final walk-through inspection before closing
  • - Set aside money for the costs of closing and a down payment

Close the purchase

  • Assuming all contingencies are met or have acceptable results, the property can proceed to closing.
  • - Review the settlement document prior to closing to see how funds will be collected and distributed
  • - Get a cashier’s check for the amount you need to bring to closing, including the down payment and any closing costs
  • - After closing, you have officially purchased your new home. The search has come to an end and it’s time to celebrate! Congratulations!!