Know how much it would cost you in selling your Candlewood Lake home.

How Much Does it Cost to Sell a Candlewood Lake Home?

By Deborah Laemmerhirt | November 10, 2014

How Much Does it Cost to Sell a Candlewood Lake Home?

Selling Candlewood Lake Danbury CT homes could be a dreadful experience if you are not aware of the costs involved and end up not making as much money as you had expected.

Know how much it will cost you in selling your Candlewood Lake home with these list of costs and fees.

Most sellers only think of the real estate agent’s commission as the seller’s expense, but there are actually many other costs and fees involved in selling a home. Knowing what these costs are can make the selling experience less stressful and help you prepare financially and maximize the profits from selling your home.

On average the total cost of selling a house can be anywhere from 7% to 10% of the the home’s selling price. This may seem like a big amount for most sellers, but if you want to get top dollar for your home, you need to be prepared to shoulder these costs. Please keep in mind that in Connecticut, your attorney will calculate and collect all monies due for the closing.

1. Real Estate Agents Commissions

            This is the biggest cost when selling a Candlewood Lake home. HUD usually pays a 6% commission – 3% goes to the selling agent and 3% to the listing agent. You can always negotiate with your real estate agent for a lower commission.

2. Title Insurance

            This is usually paid by the seller in most states but not in Connecticut, it is a buyer’s expense, as is the title search.  Title insurance is a guarantee to the buyer that your home has a clean title since it states that all loans are paid off and all liens, judgments, and title defects have been taken cared of. Different states have different laws regarding title insurance but in Connecticut, the cost of an owner’s policy depends on the sales price of the Candlewood Lake home and costs between $450-600 on average.

3. Closing fees and Recording Fees

            Connecticut is an attorney state.  One of only four in the United States.  Attorney fees vary but it is advisable to select an attorney whose primary practice is Real Estate in the state of Connecticut.  Also, when selecting an attorney, typically the attorney will be paid for at the closing without retainer fees or hourly rates.  You will find attorney’s fees varying from $700.00 to $1400.00.

The property seller in Connecticut will also have a conveyance tax expense.  The State Conveyance tax is 0.75% on the first $800,000 of value and 1.25% on the remaining value. In addition, the municipal tax can range for 0.25% to 0.5%, depending on where the property is located.

Recording Fees are paid for by the Buyers in Connecticut.

4. Taxes and Utilities

            You will need to pay taxes and utilities for your Candlewood Lake home until closing. You may have taxes to pay at closing before your home is sold even if your mortgage company may be paying your property taxes through an escrow account. The escrow account will be returned to you at closing.  Any property taxes collected from you for dates after the closing will be paid to you from the buyer at closing.

5. HOA fees

            If you live in a neighborhood with an HOA, you most probably pay your monthly HOA dues. The HOA fees prepaid by you will be paid to you by the buyer at close.

6. Repair Costs

            To get the most money from your Candlewood Lake properties, your home needs to be in its best condition. You may need to spend on repair and replacement of items in order to make your home appealing and move-in ready for the buyer.

Before you make money from selling your Candlewood Lake homes, it takes money to sell it too. Just remember that the previous homeowner (if any) paid those costs too before selling it to you.  If you are planning to use the money from the sale of the home to buy a new house, make sure to figure out the actual amount you will get after deducting all the costs so won’t be short on your purchase money for your new home.

For more information on Candlewood Lake homes for sale, visit www.CandlewoodLakeCTRealEstate.com.

Call Deborah Laemmerhirt now at 203-994-4297 and let her assist you with everything you need to know about buying or selling Candlewood properties. Her years of experience as a preeminent real estate professional in Ridgefield, Redding, Wilton, New Fairfield, Brookfield, Bridgewater, Roxbury, Washington, Weston, Westport, Southbury, Kent, Sherman, Easton, and Bethel, CT, combined with her dedication to providing the finest service will make it easier for you to find your dream home in Connecticut.

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About Deborah Laemmerhirt

Let me assist you in finding everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That’s why I constantly research the home, market and estate values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative marketing techniques to attract potential buyers. As an Internet-savvy real estate representative in Connecticut, I’ve had the opportunity to help many home buyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home selling or buying experience as easy and enjoyable as possible. My services include: Explaining the home selling and buying process thoroughly Diligently selecting homes that meets your criteria Pricing your home correctly and implementing a unique yet proven marketing plan Negotiating on your behalf Tracking the closing process to ensure a smooth transaction I welcome the opportunity to address any questions you might have about buying, selling or current market conditions. Please call or e-mail me any time, and I will be happy to discuss your next steps in the buying or selling process. I specialize in both Residential and Commercial Properties. I also head a Real Estate Group to provide you with expert service and support. Areas of Expertise Making transitions in your life is challenging. You may be moving from out of town, a different state, internationally or just next door! Regardless of the distance I am prepared to respond to your unique needs.If you are a BUYER looking to downsize, up-size, want a new construction, desire a condominium, to invest, even if this is your first home, I will design a unique plan to fulfill your needs in a reasonable time frame, with the best negotiated price and the least amount of inconvenience.For my Home Sellers, I have an innovative marketing plan that will leave nothing to chance. Just call, and I would be happy to share the DIFFERENT and SUCCESSFUL TOOLS I utilize on each of my listings. I have lived in Connecticut for over 35 years. I practice Real Estate in Fairfield County, New Haven County and Litchfield County. This includes, but is not limited to Bethel, Bridgewater, Brookfield, Danbury, Harwinton, Kent, Litchfield, New Fairfield, New Milford, Newtown, Oxford, Ridgefield, Redding, Roxbury, Sherman, Southbury, Warren, Washington, Westport and Wilton.