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Compass Blog

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 — Negotiable

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 ...

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Monday, May 11, 2020   /   by Chris Carozza

Here's How Home Buyers and Sellers Can Position Themselves Strongly for a Post COVID-19 World

These past couple of months under quarantine have seemed to stretch on forever, and what’s ahead is uncertain. 

However, what we do know is this: at some point, the coronavirus crisis will pass and we’ll be able to leave our homes, engage with other people, and—if you’re in the market to buy or sell a house—get back to the typical schedule of home showings and open houses. 

So what can you do now to put yourself in a strong position once the coronavirus has been contained? Here’s where to start. 

Buying Tips During Coronavirus

If you were planning on buying a house before the pandemic began, you’ve probably gone back and forth a bit as the virus has progressed. Should you continue to search? Or wait it out? 

No matter what your decision is, it’s always a good idea to continue working on making yourself an attractive buyer. That means protecting or building up your down payment fund, finding a g ...

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Monday, February 17, 2020   /   by Chris Carozza

What to Look for When Buying an Accessible Home

What to Look for When Buying an Accessible Home
 By: Patrick Young
An accessible home can be many things, but above all else, it should be safe and comfortable. If you’re looking for an accessible house, there are several important things to keep in mind, such as how much space you need and what your specific physical needs are. You’ll also want to think about your future needs; for example, is this a home that you want to age-in-place in? If so, it should have things such as low thresholds and countertops, no stairs, and bathroom modifications that will help you stay safe no matter what your abilities are. So, here are a few tips on what to look for when you’re in the market for an accessible home.

Do Some Research First
If you’re a first-time homebuyer, it’s essential to do a little research to find out how to get pre-approved for a loan, which type of loan is best for your needs, and what your credit score is. These factors can play a role ...

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Chris Carozza
200 Greenwich Avenue, 3rd floor
Greenwich, CT 06830

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