Buyer agreements: get it in writing
Since national practice changes took effect in August 2024, agents at MLS-participating brokerages generally need a written agreement with a buyer before showing homes. That agreement spells out what the agent will do for you and how, and how much, the agent is paid. Also, in Massachusetts, licensees must give you a state-required consumer relationship disclosure at your first meeting about a specific property. It explains the difference between seller's agents, buyer's agents, and facilitators.
What to look for in a buyer agreement:
- Compensation: the amount or rate, and what happens if the seller offers to pay some or all of it. Everything is negotiable.
- Term and scope: how long it lasts, and whether it covers all of the Cape, certain towns, or a single property.
- Ending it: how either side can end the agreement if it isn't working out.
- Dual agency / designated agency: what happens if you want to buy a home that your agent's firm has listed.
If anything in the agreement is unclear, ask before you sign. A good agent will explain it in plain English. You can also have your attorney look it over.
If you're relocating, ask how your agent handles video tours, local contractor referrals, and inspections you can't attend in person. Our relocation guide covers this.
Search strategy that works here
Rank your must-haves
Commute, bedrooms, yard, town water vs. well, sewer vs. septic, distance to work or a ferry, garage, single-floor living. Rank them, because you won't get everything.
Pick towns by facts, not reputation
Compare tax rates, utilities, distance to work, beach access, and the type of housing available. Our town guides cover all 15 Cape towns and their villages.
Check flood and wastewater early
Before you fall for a house, check its flood zone (water and flood) and whether it's on septic or sewer, including any planned sewer project (wastewater).
Set alerts a little below and a little above your price
Some homes get reduced and some sell under asking. Alerts that cover a little range on both sides catch more opportunities.
Expect seasonal patterns
Inventory and competition shift through the year on the Cape. Ask your agent what recent sales in your price range look like right now.
Condo vs. single-family
| Condo | Single-family | |
|---|---|---|
| Price | Often the most affordable entry point | Usually higher for comparable space |
| Monthly costs | Condo fee covers some items. Read exactly which ones. | You pay for and do everything yourself |
| Financing | Lenders review the whole complex (budget, reserves, owner-occupancy, litigation). Some complexes don't qualify for certain loans. | Mainly the property and your file |
| Septic and water | Often a shared system. Ask about its condition and any planned upgrades. | Your own system, your responsibility |
| Rules | Pets, rentals, exterior changes, and sometimes seasonal use | Town zoning and any neighborhood covenants |
| Big risk | Special assessments if reserves are low | Large repairs (roof, septic, heating) |
For condos, ask for the master deed, bylaws, rules, budget, reserve study (if any), recent meeting minutes, and the master insurance policy. Under Massachusetts law, your closing attorney will also get a 6(d) certificate showing that the unit's condo fees are paid up. Review the minutes yourself, because that's where talk of upcoming projects shows up.
Year-round vs. seasonal homes
This is a Cape problem that catches off-Cape buyers. Many homes, especially older cottages, were built for summer use. A listing might say "cottage," "seasonal," or nothing at all. Things to check:
- Heat and insulation: Is there a permanent heating system that can heat the whole house? Are the walls and pipes insulated?
- Water service: Some cottages or associations shut water off for winter.
- Occupancy rules: Some cottage colonies, condo associations, and properties with seasonal-use restrictions limit winter occupancy. Read the documents and ask the town building and health departments.
- Septic design: A system designed for a small seasonal cottage may not meet Title 5 for the way you plan to use the house (bedroom count and design flow). See wastewater.
- Financing and insurance: Lenders and insurers may treat a seasonal-only property differently. Tell your lender early.
- Road access: Is the private road plowed in winter, and who pays for it?
On septic, the number of bedrooms the town approved is tied to the septic design. A listing may show more rooms used as bedrooms than the septic permit allows. Compare the listing against the town's septic records and assessor card. Lesson 7 covers how.
Deed-restricted affordable homes
Some homes are sold below market with a deed restriction, usually through a lottery. Others come up as resales through the program's monitoring agent. Lesson 4 covers where to find them. Here's how they compare with buying at market price:
| Deed-restricted | Market-rate | |
|---|---|---|
| Purchase price | Set below market by the program | Whatever the market supports |
| Who can buy | Income- and asset-eligible buyers, often first-time only | Anyone who qualifies for financing |
| Resale | Price capped by a formula. Must sell to another eligible buyer. | Full market price, any buyer |
| Use rules | Usually must be your primary residence. Renting it out is restricted. | Town rules only |
| Refinancing | May need approval from the monitoring agent | Your choice |
For many households, a deed-restricted home is the most realistic way to own year-round on the Cape. Just go in knowing the long-term trade-offs, and have your attorney explain the deed rider.
Listing red flags to ask about
- "Cash only" or "as-is." This often signals a financing or condition problem, such as a failed septic, structural issues, or a seasonal-only home.
- No mention of whether the home has town water or a well, or septic or sewer.
- Additions, finished basements, or decks that may not have permits. See the open permit check in Lesson 7.
- Low price in a flood zone. Get an insurance quote before you get excited.
- A condo with a very low fee. Ask what it leaves out and how big the reserve fund is.
You'll sign a written buyer agreement before touring, and its terms are negotiable. Compare towns by facts, and check flood and wastewater first. Condos cost less up front but come with their own lending and association risks. Make sure a "Cape cottage" is really a year-round home. Deed-restricted homes trade resale upside for a lower price today.
Lesson checklist
- I understand my buyer agreement, including compensation, term, and how to end it.
- I've ranked my must-haves and short-listed towns using the town guides.
- I know how to check flood zone and sewer/septic status before touring.
- I have a condo document request list ready.
- I know the year-round checklist: heat, insulation, water, septic design, road access.
← Lesson 4
Down payment help.
Review Lesson 4 →Next: Lesson 6
Offers and negotiation: the Massachusetts Offer to Purchase and contingencies.
Start Lesson 6 →Ready to start touring?
Call or text Sherman at 508-534-3425. He'll walk you through the buyer agreement and set up a search that fits your list.