Estimated Costs During the Buying and Selling Process

We help our clients successfully buy and sell homes every day. One of the keys to a smooth transaction is keeping our clients informed. As a current or future homeowner, we recommend getting familiar with the costs associated with both sides of the transaction.

Here are the most common costs associated with selling or buying a home in Fairfield County:

Estimated Costs When Selling Your Home

State Conveyance Tax.75% of the sales price up to $800k
1.25% of any amount above $800k
(1.25% for Non-residential properties regardless of price)
Municipal Conveyance Tax.25% of Sale Price (some exceptions)
Realtor's FeeALWAYS NEGOTIABLE
Attorney's FeeVaries; Usually around $1,200
Real Estate TaxesUnpaid Amount
(If you have prepaid taxes, the balance is usually reimbursed by the buyer)
Mortgage PayoffUnpaid Balance

Estimated Costs When Purchasing a Home

Lender FeesApplication: $200-$500
Appraisal: Usually included in Application Fee
Points: Varies
Attorney's FeeVaries; Usually around $1,200
Title Search$100
Deed Recording Fee1 Page: $10
2 Pages: $15
Real Estate Taxes - AdjustmentIf seller has prepaid taxes, adjustments made at closing
Tax Escrow (Usually required by lender)Varies by town; 6 months
Interest AdjustmentPro-rated to the date of your first mortgage payment
Miscellaneous AdjustmentsUtilities (Electric, Gas, Water): Varies
Oil: Adjustments made at closing for any remaining oil in tank
Common charges/Association Fees: Varies
Building Inspection$600-$800
Water Test$40
Radon$160-$200
Septic Cleaning/Inspection$400-$500
If Oil Tank Exists: Soil SamplesVaries
Pool Inspection$150
Termite Inspection (should be conducted by a licensed pest inspector; many home inspectors are also licensed pest inspectors)$125-$200
Additional Inspections as recommended by building inspector: Mold, Lead, Asbestos, Structural Engineer, etc.

Above prices are estimated costs based on collective experience. This information is deemed reliable but not guaranteed. We recommend always consulting your attorney when calculating these costs.


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© 2017 Denise Walsh, Realtor licensed in the state of Connecticut · Last modified: 03 October 2013 · Log in · IDX · real estate web: darrylo