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Home Selling in 06516 : Real Estate Advice

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  • Local Info2
  • Home Buying10
  • Home Selling9
  • Market Conditions0

Activity 8
Sun Apr 7, 2013
Ted Kostzewski answered:
There is not a sales tax per se. The conveyance taxes ae there as you know. The only other thing you must be aware of is the possibility of a capital gains tax, which is dependent upon whether or not the home you are selling is your primary residence, how long you have lived there and whether or not your profit exceeds the capital gains limits. Best to talk with your accountant or attorney in terms of eligibility on this one. ... more
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Fri Nov 15, 2013
Greg Hanner answered:
Hi Shoehoard,

Selling fees are fairly straight forward and here are the three primary expenses.

1. Broker fees - Listing your home with a REALTOR (not all agents are REALTORS) will cover marketing the home, provide you with someone working with your interests being put first, a skilled negotiator and assistance through the minefield of home inspections and helping with Buyer's financing being secured. If a Buyer comes with their own agent, the Buyer's agent is normally paid a portion of the listing agents fees that you have in your listing agreement. That makes the Buyer Broker's involvement free to the Buyers in most cases. Listing broker fees are not fixed - they vary and are negotiated between Sellers and their agents. If you list your home by Owner (FISBO), then you'll be paying for print ads, on-line ads, signage, attending showings, dealing with Buyers or their agents if you offer Buyer Broker commissions, negotiating the purchases agreement price/terms, handling appraisal inspections, home inspections, and then attending your closing.

2. Conveyance taxes to the town and state. They are normally 0.75% unless you are in certain towns or your selling price exceeds certain price levels.

3. Attorney fees. Your attorney will prepare the deed and handle paying off your mortgages. You'll get reimbursed for prepaid property taxes and fuel in your home's tanks.

Hope this info helps.

Greg Hanner, REALTOR, Broker, e-PRO
www.GardenRealty.com
www.Facebook.com/EasternCTRealEstate
... more
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Fri Nov 15, 2013
Sarah Ashton answered:
I would be happy to discuss your your situation with you. Please call me at (860)306-0694 or visit my website SarahAshtonCT.com
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Thu May 31, 2012
Anna M Brocco answered:
Lenght of time on the market will vary by exact location, pricing, schools, size, etc.; therefore if looking to sell in the near future, invite a few local agents from different realty companies and ask for a cma, comparative market analys, review the data, ask opinions and go from there; cma's are provided free of charge by most agents. ... more
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Wed Apr 6, 2011
Philip Roy answered:
Hello,

You might want to look at doing a Short Sale first. If your Realtor thinks that it is an option and that with your particular circumstances you can get Short Sale Approval, please consider doing it. If you do not want to do a Short Sale or you do not qualify, provided your listing Broker is setup to accept credit cards for services, I do not see why you couldn't pay with a credit card. However, the listing Broker may charge you a small fee to cover the merchant credit fee if they agree to do this. Please keep in mind though that it could require some paperwork and Escrow instructions to cover a coop commission fee. ... more
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Tue Apr 16, 2013
None answered:
Many many homeowners are in a similar situation as yourself. You have a number of options including renting it out, staying put, or selling it for less than what you owe the bank. If you do decide to sell, you can do a short sale - this is where you sell your home for less than what the bank is owed. Often the bank will forgive the difference between what is owed & what the home sells for in today's market. Due to the recent decline of home prices, this has become normal practice in our area and most areas of the country.

I'm a full time real estate agent now, with a background in bankruptcy and foreclosure law. I've been on both sides of short sales, and I find the process goes smoothly as long as the real estate agents are familiar with the process, the listing agent stays on top of the lender, and the homeowner keeps the bank and real estate agent informed.

Check out Realtor.org's primer on Short Sales - their guide should answer many of your questions. If you have any further questions, feel free to reach out to me. My mobile phone is 203-815-9118 and I'm happy to answer any questions you have about the current real estate market and the short sale process.

Regards,
-Scott Silverstone

Scott Silverstone, Realtor®
Page Taft Real Estate
203-815-9118 (m)
Scott@CTProperty.com
... more
0 votes 8 answers Share Flag
Wed Mar 3, 2010
Don Tepper answered:
Your settlement company could best answer that question. I'd guess (only a guess) that you'd need cash or certified funds, just as you would when you were purchasing. Otherwise, there isn't that 100% assurance that all payments have been made in full in order to transfer the deed.

So, check with your settlement company on forms of payment they'd deem acceptable.

Hope that helps.
... more
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Fri Jan 1, 2010
Elizabeth Herbert answered:
Perhaps this chart will help you. Here ya go:

http://firsttimehomebuyermagazine.com/wp-content/uploads/2009/07/Closing-Chart.pdf
0 votes 3 answers Share Flag
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