If you need assistance, please call 203-912-6819

Closing Costs in Connecticut - Who Pays What?

Wednesday, May 13, 2020   /   by Chris Carozza

Closing Costs in Connecticut - Who Pays What?

Closing Costs — Who Pays What?

The parties to a real estate sale may negotiate who will pay certain closing costs. In the absence of an agreement, local custom calls for each party to pay those closing costs related to that portion of the transaction for which they are responsible.

Typically Incurred by the Seller

State Conveyance tax

.75% of sale price up to $800k
1.25% of sale price above $800k 

Local Conveyance Tax

Westport, Weston, Wilton, Fairfield, Easton, Redding - .25%
Stamford - .35%
Norwalk - .50%

Realtor’s Fee — 

Attorney’s Fee
 — $1000 - $1500 +/-

Recording Fee (Release of existing mortgage)
$200 +/-

Real Estate Taxes — 
Unpaid balance

Mortgage Payoff
 — Unpaid balance

Typically Incurred by the Buyer

Home Inspection Fees:

  • General Building Inspection — $1000 +
  • Pool —$200 - $300 +/-
  • Asbestos — 350 +/-
  • Radon — $100 +/-
  • Septic — $400 - $500 +/-
  • Termite/Pest — $250 +/-

Lender Fees:

  • Origination Fees — $800 +/-
  • Appraisal — $400-$600
  • Credit Report —$24 +/-
  • Origination Fees — Varies based on loan type/amount
  • Points — Varies based on loan type/amount

Tax Escrow — 
Determined by lender/town

Interest Adjustment — 
Pro-rated interest based on actual number of days from the date of closing to the date of the first mortgage payment

Attorney's Fees — 
$1000-$1500 +/-

Title Search/Municipal Search — 

Title Insurance — 
Varies based on home price (approx. $2,500 for a $750,000 home; $3,200 for a $1,000,000 home)

Recording Fee — 
$200 +/-

Homeowner's Insurance — 
Varies depending on the

Flood Insurance — 
If Applicable

The fees listed above are given only as an approximate and may vary higher or lower.

RE/MAX Right Choice
Chris Carozza
25 Crescent Street, Suite 101
Stamford, CT 06906
CC Best Agent.png

The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 SmartMLS, Inc.
The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Chris Carozza - The Chris Carozza Team are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2024 One Key, Inc. All rights reserved.

This site powered by CINC: www.cincpro.com