The list of different Closing Costs for a seller are generally much shorter than the list for the buyers:
Real Estate Commission
The commission charged by your Connecticut Realtor depends on many factors, some of which include the type of property you are selling, the number of properties you are selling, the condition of the property, special circumstances that may complicate the sale, and contract terms.
Real Estate Conveyance Tax – both State and Local
In the state of Connecticut the seller pays a conveyance tax on the sale price of their home. The State conveyance tax is ½ of a percent and the Town conveyance tax is another ½ of a percent, so combined you will be paying 1% of the sale price of your home in conveyance taxes.
Attorney’s Fee
When you sell your home, your attorney will assist with many functions. A few of the things the attorney does include; helping to ensure the title is transferred to the buyers correctly, seeing that the required tax documents are processed and submitted, ensuring that any payoffs to your mortgage company or other loans that have a lien on the property are paid off and the payoffs are recorded in the town hall and advising you on other legal matters concerning your sale.
Recording Fees
When you sell your home, if you have a mortgage, that will be paid off and the payoff letter will be recorded at the town hall.
Contact Ferrigno Realtors for more information Connecticut closing costs or selling a home in Connecticut.
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