Real Estate Seller Closing Costs in CT

So you are preparing to sell your home and you are not sure if you can afford to do so. It is important that you know there is a cost to sell your home, just like there is a cost to market any product you see on a store shelf or any service you receive from a professional. The following are your standard seller expenses:

Realtor Fee
In CT, realtor fees are negotiable, but the most common fee is 5-6% (This is the seller fee for the services of both brokerages combined; often 2.5% to one and 2.5% to the other brokerage, or 3% to each).

Attorney Fee
Approximately $1000 – $1500 (Can be lower or higher)

State Conveyance Tax
The state tax is .75% for residential properties under $800,000.  If the property sells for more that $800,000, the seller will pay .75% for the first $800,000 and 1.25% on the portion over $800,000.

Non-residential properties pay 1.25% in the state portion, regardless of price.

Municipal Conveyance Tax
Sellers pay .25% to the municipality.  Some communities charge an additional .25%, bringing the total municipal real estate conveyance tax to .50%.  The higher conveyance tax is present in the following CT areas:

Bloomfield, Bridgeport, Bristol, East Hartford, Groton, Hamden, Hartford, Meriden, Middletown, New Britain, New Haven, New London, Norwalk, Norwich, Southington, Stamford, Waterbury, and Windham.

Call Patricia Rattray with any questions, 203-570-2096

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