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There is a 2% Martha's Vineyard Land Bank tax on all real estate purchases to help support further purchases of Martha's Vineyard conservation land.
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Before closing the property should have clear title - unclouded by prior ownership and free
of all liens.
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The property boundary lines are firmly established preferably by a licensed Surveyor.* This can be very important if your property has a view and will need maintaining.
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Legal access to the property is clearly defined.
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A well yielding potable water at the acceptable rate per minute be in place.
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The distance between the well and the septic be not less than the minimum footage in conjunction with town laws.
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Is the septic in compliance with the latest Title V requirements that are presently affecting all septic systems on the island? It will have to be inspected by an engineer. If it is not in compliance
it will have to be upgraded.
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If you are buying land and plan to build a home, you must learn local regulations, some of which may vary from town to town, i.e.:
a. What is the minimum acreage rule?
b. What is the minimum distance you can build from your boundary lines?
c. What is the maximum allowable height for the house and how is it measured?
d. What kind of septic design is needed for the number of bedrooms you desire and whom do you consult?
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Will you be allowed to build a guest house? If so, how far from the main house, septic and well?
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How can you obtain the best mortgage to help you purchase your Martha's Vineyard real estate?
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Do I use a lawyer from home or select one on the island? How much will that cost? How do I know what will be my best choice?
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We always recommend that our real estate clients seek legal counsel when engaging in contractual relationships.
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Are there good builders on the island on whom I can rely for a fair price, honest labor, and who will keep reasonably close to our agreed upon price and finish within a reasonable distance of our contract's time?
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Will I be able to find in Feiner Real Estate in Chilmark the kind of real estate agents who will make it their business to see that I learn all that I need to know? Will they go with me every step of the way? Will they answer all of my questions and include answers to those I have neglected to ask?
The answer to this question is yes, yes, yes, and yes. We respect and revere our real estate clients, and, like doctors and lawyers, we are prepared to be their Realtors for life. We work primarily by referral and like it that way.
