Connecticut Real Estate Contract & Forms for Selling Your Home
Selling a home in Connecticut
Anyone who has played or is familiar with the game of Monopoly knows that properties on Connecticut command very good prices. Luckily, this is true not only in this immensely popular board game, but also in real life. Connecticut, said to be the home of the first hamburger, helicopter and television is a wonderful place to live in, and a great area to raise a family. It’s no wonder that properties in Connecticut are very much desired.
Thinking of Selling?
If you are thinking of selling your home, either to transfer to another place within Connecticut or to move out of state, you can do it on your own or with the help of a real estate agent. A real estate agent is there to facilitate every transaction and make the entire process easier for you. But if you are not averse to a little hard work and taking on some challenges, then go for it. Selling a home is not exactly rocket science. Anyone and everyone can do it.
The First Step
The minute you and your family decide to put your property up for sale, you should immediately go to a real estate lawyer and ask how one should go about the entire process. Selling a house, whether in Connecticut or elsewhere is, though easy, laden with paperwork. You should know what documents you need to prepare and which forms you need to complete. Of all these papers, you should know which ones to present to the prospective buyers, which one to present to the bank, and which ones you will retain.
And then …
Following your legal consultation, you may have to look for an estimator. This individual has been trained to give proper valuation to your property. He should tell you how much your house is worth and, if this is included in his services (and his level of expertise), may even tell you what you need to improve on. You have the option to call on the evaluator before, after or before and after you have done minor improvements and facelifts to your property. You call on him before so you would know what needs to be done, and you ask him to drop by after so he can give you another fair valuation, taking into consideration the changes or improvements you have completed. Ask your evaluator too, what aspects of your home, apart from the mandatory lead-based paint declaration, you need to disclose and which forms you need to complete.
Now the fun part
Once all the legalities have been finalized (all the pertinent forms have been completed and filed), the fun part begins. Putting up that sign on your front yard announces to all and sundry that your house is on the market. Don’t expect to be bombarded by calls the weekend after you’ve put your house up for sale. It takes time before people realize that you are selling your property, but once word gets out, you will receive calls, text messages and emails from people who are seriously interested in your property, and also those who are “just looking”. When you finally have a serious buyer, prepare yourself to deal with another round of paperwork.
Making the Sale
The first document you will receive from your serious buyer is an Offer to Purchase. This document will itemize all the proposals of your buyer: from the price, to the terms of payment. If you are amenable to the contents of this document, then the details are finalized and translated into a Purchase Agreement. This document will bind you and your buyer to the terms and conditions you have both agreed upon.
When the transaction has been completed, all the additional fees paid, and the keys handed over to the new owner, you can finally get in your car and drive off to your new home.
Your sources
In some instances, your real estate lawyer can provide you with the basic forms necessary to facilitate the sale of your home. In the eventuality that he does not have these documents, you don’t have to worry because all the forms needed for real estate transactions can be purchased from the internet. These forms conform to the required format of local and federal real estate governing bodies. And, although these are “generic”, these can be opened through any word processing program and you are at liberty to modify the contents (and possibly even the format) to your specifications.
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