Fred Moore III, REALTOR®
Last updated
The main costs are agent compensation, Connecticut's state and town conveyance taxes, your attorney's fee, your mortgage payoff and any property tax adjustment at closing. Prep work, repair credits after inspection and moving come on top. Your net proceeds are what's left after all of them.
| Cost | Who usually pays | How it's figured |
|---|---|---|
| Agent compensation | Set in your listing agreement | Negotiated percentage or fee |
| State conveyance tax | Seller | 0.75% up to $800,000; 1.25% from $800,000 to $2.5M; 2.25% above $2.5M |
| Municipal conveyance tax | Seller | 0.25% of the price in all five towns covered here (up to 0.5% in 19 eligible towns elsewhere in CT) |
| Attorney fee | Seller (own attorney) | Usually a flat fee. Ask for a written quote up front |
| Mortgage payoff | Seller | Lender payoff letter, including interest to closing |
| Property tax adjustment | Either side, depending on what's been paid | Prorated to the closing date using your town's billing dates. Your attorney calculates it |
| Prep and repairs | Seller (optional) | Deep clean, declutter and depersonalize to start. Some sellers also get a pre-listing home inspection and make repairs as needed. It can cost a couple hundred dollars up front but save you thousands later |
| Moving | Seller | Quotes from movers |
Connecticut's conveyance tax is a seller-paid tax on the sale price. For homes, the state portion is 0.75% on the first $800,000, 1.25% on the portion from $800,000 to $2.5 million, and 2.25% above that. Towns add a municipal portion of 0.25%, or up to 0.5% in 19 eligible towns. Your attorney calculates the exact amount and files the conveyance tax return when the deed is recorded. Sources: CT Department of Revenue Services, CT Office of Legislative Research.
Example: on a $600,000 sale in a town with a 0.25% municipal rate, the state tax is $4,500 and the town tax is $1,500, for $6,000 total.
At closing, the attorneys prorate property taxes to the closing date. Depending on which tax bills have been paid, the seller may credit the buyer, or the buyer may reimburse the seller for taxes paid ahead. The exact amount depends on your town's billing dates and your closing date. Your attorney calculates it.
I'll run these numbers with a realistic sale price based on recent sales near you.
What's my home worth?Start with a realistic sale price based on recent sales near you. Subtract your mortgage payoff, agent compensation, state and town conveyance taxes, your attorney's fee and any tax adjustment, then set aside money for repairs and moving. What's left is a planning number, not a guarantee.
Sale price − mortgage payoff − agent compensation − conveyance taxes − attorney fee − tax adjustment − prep and moving = estimated net proceeds
The seller pays both the state and the municipal conveyance tax in Connecticut. It's paid at closing, when the deed is recorded, and your attorney files the return.
Yes. Agent compensation is negotiable and isn't set by law. It's set in writing in your listing agreement. There is no standard or required rate (NAR consumer guide).
Yes, in practice. Connecticut law requires a real estate closing to be conducted by an attorney admitted in Connecticut (CGS 51-88a), and sellers hire their own. Ask for the attorney's fee in writing up front.
Ask for a home value. I'll pull recent sales near you and walk through the costs on this page line by line, using your numbers.
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Email Fred to join the listNot legal, tax or lending advice. Tax rates and rules change. Confirm current figures with a Connecticut real estate attorney or tax professional.