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If you sell a house worth $360,700 the median home value in Connecticut thats over $11,300, which is a huge chunk of your potential profits. Selling without a real estate agent, known as listing For Sale By Owner (FSBO), is a viable option for experienced home sellers who are willing to put in the time and effort.
Do you have to pay Mortgage Insurance (PMI) on a California 10% Down Payment Jumbo Loan? No, mortgage insurance is not required even though many jumbo lenders require it! 10% Down 90% Loan to Value Jumbo Financing available up to $3,000,000 loan amount! CLICK HERE to See Todays Mortgage Rates.
Steps to buying a home in Connecticut Assess your readiness. Saving for your down payment. Get preapproved for a mortgage. Research the market and determine where you would like to buy. Find a local Connecticut agent. Start shopping for homes in Connecticut. Make a strong offer. Send your earnest money deposit.
Conventional Financing With as Little as 3% Down A conventional mortgage loan does not receive any kind of government backing or insurance. That makes it different from the FHA loan program we talked about above. But these mortgage loans also allow California home buyers to buy a house with 5% down.
How much are realtor fees for a home buyer in California? Home buyers dont pay realtor fees in California. Instead, the seller covers both the listing agent fee and the buyers agent fee as part of the sale proceeds.
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Designated agency is not legal for any other profession. Even lawyers, who have received postgraduate training on how to manage conflicts of interest, cannot legally engage in designated agency.
Conventional loans (that are not insured or guaranteed by the government) allow borrowers to make a down payment as low as 3% in some cases. The FHA loan program requires home buyers in California to make a minimum down payment of 3.5% of the purchase price or appraised value.
In most cases, youll still need to offer a buyers agent commission. 2.8% is typical in Connecticut. Selling without an agent is best for experienced sellers or people selling to family or friends. For most sellers, there are better cost-saving options that will net you more money and provide professional support.
That means the agent is either representing the buyer or the seller. In a dual agency, the real estate agent has an opportunity to represent both sides of the transaction. Dual agency is illegal in some states, but in California, any real estate agent can do it.
Every state has its own laws regarding real estate sales. In some states, hiring a legal professional is optional for home buyers or sellers, but Connecticut is not one of those. In Connecticut, state law requires all home buyers and sellers to involve a real estate attorney in the process.

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