The Paper Work

There is plenty of "paper work".  From start to finish there are details to be kept track of.  A trail of action with all the paperwork, emails, phone calls, and faxes to keep buyers and sellers informed throughout the home sale process. 

Agency Relationships

Your Realtor is your trusted guide.  We have built their professional career building trust and rapport with our clients. We are focused on your needs and offer you service and experience.

In Connecticut, real estate licensees are required to disclose how they intend to work with buyers and sellers in a real estate transaction. (In rental transactions, the terms "buyers" and "sellers" would be "tenants" and "landlords," respectively.).  All agency representation must be in writing. 

Most of your questions can be answered at The Connecticut Associations of Realtors Agency Relationships and Contracts ( in Acrobat  Reader file format)

The Listing Agent, the Buying Agent, Dual Agency and Designated agency. 

The listing agent and buyer's agent sign a contract with you.  Each agent represents either the seller or the buyer. You are their client and they are devoted to your interests.  They are charged with the responsibility of negotiating the best price and terms for you.  As your Realtor, they will assist you helping you avoid many of the risks that can happen when you work alone. 

Dual Agent and Designated Agents.  "Designated Agency," means that at any time, in a given transaction, a real estate company may have one agent who solely represents the seller and another agent who solely represents the buyer.  "A Dual Agent", however, is an agent who represents both parties at the same time. 

Your Realtor must disclose and explain to you the agency relationship and fiduciary duties in each of these agency relationships.

You may obtain legal advice about these business relationships from you own attorney.

Agency Policy in Connecticut

Make sure that the Seller's Disclosure and the federally mandated Lead Paint Title X Disclosure are part of your contract (if the house was built before 1978).  Remember that these disclosures are not a substitute for inspections. So be sure to include an inspection contingency. 

The following links will assist you:

Lead Paint Title X Disclosure:  Lead Paint Disclosure

The Seller's Disclosure: Seller's Disclosure Form

The Contract and Contingencies

Because a home sale involves an array of both personal and business concerns, it's important to get it done right.  The purchase offer you submit, if accepted as it stands, will become a binding sales contract known in our area as a Purchase and Sales Agreement.  It is important, therefore, that it contains all the items that will serve as a "blueprint for the final sale".  Please note this information provides a general outline and should not be relied upon as legal guidance.  As a buyer or seller you should be advised that it is a legal transaction, you may want to hire a real estate attorney early in the transaction process.  See your attorney.

The Purchase and Sales Agreement items may include such things as:

·            The Seller’s and Buyer’s name and address

·            Address and legal description of the property

·            Sales price

·            Personal property including the kitchen appliances, any window drapes, light fixtures, etc.

·            Amount of earnest money deposit accompanying the offer. The deposit checks are made out to the listing broker’s office (or seller’s attorney as escrow agent)

·         A mortgage contingency giving the buyer the ability to obtain financing. The contingency includes the amount of the mortgage, the interest rate, term, commitment date for the written approval, and type of financing (conventional or government insured loan).  Most buyers will require this mortgage contingency. It can take anywhere from two to four weeks for the lender to approve their mortgage.

·         A home inspection contingency including the time to perform the inspections by a trained and independent observer and the notification time period to communicate your findings to the seller.

·            Date for the closing.

·            A contingency that seller promises to provide clear title (ownership) to the buyer.

·            Method by which real estate taxes, rents, fuel, water bills and utilities are to be adjusted (prorated) between the buyer and seller.  Our tax adjustment paid in advance or by the “Uniform Fiscal Year” basis (except for the towns of Meriden and Wallingford). 

·            For common interest property and condominium purchases the Resale Certificate and Condominium Documents will be required.  (Note: Some management companies only issue resale certificates on certain days)

·         Other requirements specific to our state including:  The Lead Paint Title X Disclosure, Connecticut Property Condition Disclosure Form (Seller’s Property Disclosure).  Dual Agency Consent Agreement or Dual Agency Disclosure when applicable.

·         A provision that the buyer may make a last-minute walk-through inspection of the property just before the closing. This usually occurs within 48 hours of the closing.

·         A time limit (generally a short period of time) after which the offer will expire.

·         Other contingencies, such as a "Hubbard Agreement"  (or the Contingency of The Sale of Home).  In this case the purchase is subject to the sale of the buyers home.  Most "Hubbard Clause" contingencies are also conditional upon the buyers home inspection and mortgage contingencies.  Generally speaking, Hubbard Agreement contingencies run a period of anywhere between 30 to 60 days from the date of the purchase contract.

From a practical standpoint, closings tend to be 30 to 60 days following the date that the purchase contract is signed by all parties.  A contract is fully executed when it and any attachment and addenda are accepted and signed by both the buyer and seller.

Realistic considerations usually determine how long it will take to close. Most home purchase contracts include contingencies that must be satisfied before the closing. The most common are contingencies for the buyer's financing, inspections of the property and examination of title to the property.

Go to The Closing