Urban Team | Bethany Real Estate, Branford Real Estate, Guilford Real Estate, Hamden Real Estate


If this is your first time selling a home, you might not be familiar with the costs associated with selling. Lenders and agents help to make this process as simple as possible for both the buyer and seller. However, it’s still a good idea to know what to expect to pay for selling your home, as it seems counter-intuitive that you would have to pay to sell something.

Due to the consolidation of costs by lenders, it can be easy to glaze over the list of closing expenses without fully knowing what they mean. But since many fees can be negotiated, it pays to learn the ins and outs of closing costs.

Whether you’re selling your home soon or just want to brush up on real estate processes, this article will give you a better understanding of closing costs from the perspective of a seller.

Closing costs

Buyers typically pay the majority of the closing costs associated with purchasing a home. However, there are some closing costs that buyers are at least partially responsible for.

Notary fees, expenses from escrow, and title insurance are all likely costs you’ll have to dish out before closing.

Agent fees

Real estate agents typically earn a commission on selling a house. The work they put in saves you in several ways. First, you don’t have to pay for all of the marketing expenses associated with selling a home. This includes photography, sign-making, and online listings.

Agents can save you in other ways, as well. They’ll help you price your home effectively, negotiate prices, and take care of the time-intensive process of showing your house. You won’t want to have to take time off from work to try to DIY these steps.

Taxes

Since you’ve likely owned your home for a while now, you’re familiar with paying property taxes. If you pay taxes yearly and are moving toward the end of your pay cycle, you’ll have to pay a prorated rate for the amount of time you’ve lived in the home that year.

The burden is also yours for any remaining HOA fees and state transfer taxes. Not every state charges transfer taxes so be sure to check the cost for your state.

Moving costs

Moving can be an expensive endeavor. Aside from hiring movers, renting vans, or buying boxes, there are a number of expenses we don’t often think of when preparing to move.

First, it will take you a while to get your new home set up. That means you should be prepared to eat out for a while until you get settled.

On top of that, there’s also the matter of having to take days off from work, which can be costly in its own right.

Those are some of the most common expenses a buyer has to worry about during closing. Your real estate agent will be able to give you a comprehensive rundown of costs and help you find the best agreement.


729 Quinnipiac Avenue, New Haven, CT 06513  

Rental
$1,600
Price
4
Total Rooms
2
Bedrooms
1
Baths
This home will feel like you're on vacation! A one-of-a-kind condominium with water views and nearby amenities for canoeing and boating. This renovated 2 bedroom condominium with open floor plan has recently refurbished hardwood floors, also freshly painted. Galley kitchen is equipped with NEW stainless steel appliances and granite countertops. The bath is beautifully restored! Updates also include: newer roof, gutters, central air and interior painting. Great storage in unit and in the basement. Nothing to do but move in! Located in the Historic Quinnipiac riverfront neighborhood. Minutes to Yale and downtown.


Want to make your homeownership dream a reality? Get pre-approved for a mortgage, and a first-time homebuyer can move closer than ever before to acquiring his or her ideal residence.

Ultimately, there are many reasons to receive pre-approval for a mortgage, including:

1. You can establish a realistic homebuying budget.

Entering the housing market for the first time can be challenging. In fact, many first-time homebuyers struggle to establish realistic expectations before they begin their home search. And as a result, these homebuyers may end up spending too much for a house.

Fortunately, getting pre-approved for a mortgage enables a homebuyer to enter the real estate market with a budget in hand. This ensures a homebuyer can avoid the temptation to overspend on a residence.

Pre-approval for a mortgage also allows a homebuyer to map out his or her homebuying journey. With a plan in place, this homebuyer may be better equipped than others to acquire a top-notch residence that matches or exceeds his or her expectations.

2. You can speed up the homebuying journey.

Although a first-time homebuyer can always submit an offer on a home without a mortgage in hand, doing so may be tricky. In some cases, it may even slow down the homebuying process, especially if a homebuyer has to allocate significant time and resources to find a mortgage lender.

On the other hand, a homebuyer who gets pre-approved for a mortgage should have no trouble accelerating the property buying cycle. This homebuyer will know exactly how much money is at his or her disposal, and as a result, can speed up the homebuying journey.

3. You can gain a competitive advantage over rival homebuyers.

In many instances, a home seller may be more likely to accept a proposal from a first-time homebuyer who has been pre-approved for a mortgage versus an offer from a buyer who still needs to obtain a mortgage.

A homebuyer who has a mortgage likely won't have to wait too long to acquire a house. Conversely, a homebuyer who needs to apply for a mortgage after an offer has been submitted may need to wait many weeks or months to complete a home sale.

Clearly, there are many great reasons for a first-time homebuyer to receive pre-approval for a mortgage. For homebuyers who want to ensure the best results possible, it certainly helps to collaborate with an experienced real estate agent too.

An experienced real estate agent understands the ins and outs of the housing market and will do whatever it takes to help a homebuyer streamline the property buying journey. This housing market professional will set up home showings and negotiate with a home seller on a property buyer's behalf. Plus, he or she is happy to provide honest, unbiased recommendations to help a homebuyer make his or her homeownership dream come true.

Take the next step to acquire your dream residence – get pre-approved for a mortgage today, and a first-time homebuyer can get the necessary financing to purchase his or her ideal house.


22 Redwood Drive, East Haven, CT 06513  

Residential
$94,500
Price
4
Total Rooms
2
Bedrooms
2/1
Full/Half Baths
The Birches a townhouse condominium. This unit has numerous upgrades, new water heater & Furnace/ Compressor. Nothing to do but move in. Updated kitchen and baths. A wood burning stove to keep you warm in the winter and a pool for summer fun. Easy Commute to 95 and 91. Lovely balcony off the master suit. HOA fees Under $300 a month and reasonable taxes. Easy living for that special buyer.



This listing recently sold for $333,000.

1 Hughes Place, New Haven, CT 06511  

Residential
$333,000
Price
$333,000
Sale Price
5
Total Rooms
2
Bedrooms
1
Baths
This is the home you will enjoy for years to come! Light filled, modern, with views of Wooster Square and spring cherry blossoms right at your front door! This 2 bedroom condominium has an open floor plan and wonderful feng shui. It has a renovated, galley kitchen with high end stainless steel appliances, built in wall ovens and high quality granite countertops makes this kitchen a joy to cook in. The floor to ceiling windows stream in light. Upstairs, the large master bedroom has ample closet space. The renovated bathroom is enlarged to include double sinks with very modern finishes. An office area was created in the 2nd bedroom facing Hughes Place and the northwest corner of Wooster Square. You have a covered front porch and patio area off the kitchen of the home. The complex has a parking lot, common outdoor seating area, and beautiful grounds. Enjoy living in this walkable neighborhood - to the park, downtown, train station, farmers' market, museums, restaurants and festivals! In Yale Homebuyer Program!