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Home Buying in New London : Real Estate Advice

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  • Local Info4
  • Home Buying10
  • Home Selling4
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Activity 9
Wed Jul 19, 2017
Dave_Angels asked:
I had a signed contract to purchase a home with a mortgage commitment date in it, but my bank was slow in getting the commitment to me before the deadline. I already had an inspection and…
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Fri Sep 9, 2016
Stacy Ann Stephens answered:
The average home in Connecticut surpassed the $200,000 mark for the first time since February 2008; therefore there are several homes in all 8 counties that are under 200K.
Web reference: http://www.cthomeadvisors.com/blog/what-does-200000-get-you-in-connecticut/ ... more
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Sat Jan 10, 2015
mogge.nilsson answered:
So Dave, did you move to New London? If so, how do you like it so far? I'm myself are looking into buying a summer hous in the area so any input would be great. Thanks!
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Sat Jan 25, 2014
Kathleen Prater answered:
You will never find an inexperienced agent with RE/MAX simply because of the company's business model and hiring practice. Agents are allowed to answer any question with a material fact about a property or a community (CT law). By CT law, we are not allowed to speculate about school systems or the crime rate, however, we can guide you to the resources that can give you material facts. www.kathleenMprater.com or facebook KathleenPraterRe/MaxAlliance in Groton, CT ... more
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Tue Apr 9, 2013
Lori Hopkins-Cavanagh answered:
A seller looks at the whole package. Cash versus financing is a contingency with risk for the seller. If the buyer cannot get mortgage commitment the deal falls apart, whereas a buyer with cash eliminates that contingency. You will outbid a finance buyer all things considered equal but how much you can save depends on the condition of the house and other aspects of the transactions such as inspections and motivation of seller. ... more
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Tue Apr 9, 2013
Lori Hopkins-Cavanagh answered:
An agent may be able to lower their commission to the seller and the seller can reduce the price of the property or make a contribution to the buyer but it is not legal, in my opinion, for an agent to rebate cash to a buyer. Only licensed agents can receive a commission. ... more
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Tue Apr 9, 2013
Lori Hopkins-Cavanagh answered:
Taxes will not be adjusted unless you file a tax appeal with the municipality. In Connecticut the appeals process begins by requesting an appeals form and completing it and submitting it prior to the deadline of February 20th. Any owner of a property and Lessee with a lease that requires the payment of taxes may file an appeal. Photographs of defects and clear reasons why the property assessment is unfair, such as errors in square footage, number of baths and other fixtures and assets will be effective in persuading the board to reconsider the assessment. ... more
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Wed Mar 26, 2008
Stacey Brown answered:
I personally like any time in the second half of the month. The reason s that at closing, you are prepaying interest for the remainder of the month and your first mortgage payment will not be due until the first of the following month. This gives buyers a good "relief valve" after getting through the purchase, moving, etc. If you close on the 10th, for example, you will have a payment due in 3 weeks.

In the end, it doesn't really matter what time of the month, as we prorate expenses such as taxes on a daily basis. If you wait too close to the end of the month, you'll be stressed out with all of the stuff going on with the attorneys involved. Try to avoid the last day.
... more
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Wed May 23, 2007
Mitchell Hall answered:
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