CONNECTICUT

RLTY Law LLC is a boutique real estate law firm operating throughout Connecticut.

What We Do

We act as legal counsel for the purchase, sale, and refinance of residential real estate in Connecticut. This includes family homes, beach houses, apartments, condominiums, and country cottages. For new construction and renovations, we assist in negotiation with designers, architects and other professionals, as well as permitting. Additionally, the firm acts as an agent to provide title insurance which is usually required in land transactions.

Selling or purchasing real estate is most often one of the largest purchases and financial obligations one will carry during a lifetime. The challenges facing buyers and sellers of real property can be overwhelming. An experienced real estate lawyer can be of assistance in simplifying the process. We will protect your rights from the beginning of negotiations to the final closing.

We understand the excitement and anxiety involved in buying or selling a home and help walk our clients through every step of the transaction. Our team is dedicated to helping you achieve your ownership dreams!

RLTY Law will negotiate, prepare, and review all documents necessary to complete your transaction which may include:

We will also attend the closing on your behalf, provide an accounting of funds, and handle all post-closing matters including any necessary payoffs and recording of documents.

We also offer commercial real estate services to developers, owners, investors, purchasers, sellers, landlords, and tenants. We have handled matters involving residential subdivisions, office buildings, apartment complexes, industrial facilities, shopping centers, restaurants, and retail businesses. This includes the formulation of entities to develop, hold, and operate said properties.

Our clients value our expertise in construction law when navigating agreements involving construction contractors, architects, and other related professionals.

Guide

Buying and selling real estate has become more complex in recent years. Owning a home is not only a large financial investment, but an emotional one as well. Having the right team on your side is imperative to ensure a smooth transaction.

RLTY Law has developed the following guides for people looking to buy or sell real estate in Connecticut:

Buyer Guide

Step 1: Find a Connecticut licensed real estate agent

Whether you are actively property hunting or just starting to consider ownership, it is never too early to find a Connecticut real estate agent to guide you in your search. In addition to finding and showing you properties, it is the responsibility of your real estate agent to protect your interests as a buyer. An experienced agent will help you make offers, negotiate contracts, and navigate the closing process.

The NAR Settlement of 2024 has had major implications in the buying and selling process. It is now legally required that buyers must sign a representation agreement in advance of any property showing that outlines commission responsibility and amount.

Step 2: Get pre-approved for a mortgage

Mortgage pre-approval is a lender’s conditional offer to lend you money to buy a property. It’s a good idea to get pre-approved for a mortgage about ninety (90) days before buying a home, giving you enough time to find a home, make an offer, and start the closing process.

Many sellers in Connecticut will ask for a mortgage pre-approval letter before showing you their property. It demonstrates that you are financially qualified to make an offer and can give you an advantage over buyers who do not have one.

Pre-approval can be as simple as a short phone call or Zoom meeting with your lender or mortgage broker, a credit check, and sending them your proof of funds.

Step 3: Offer

The first step in any real estate transaction is to find the property of your choice and make an offer. In Connecticut, a contract for the purchase and sale of real estate must be in writing; thus, a verbal offer creates no binding obligation upon either party. If your offer is accepted, it is time to hire RLTY Law. If your offer is rejected, you can either make a counteroffer or move on to a different property.

Everything is negotiable in an offer; it will speak to who is responsible for paying commission.

Step 4: Hire RLTY Law as your real estate lawyer

Once your offer is accepted, it is time to hire a real estate lawyer. In Connecticut, buyers and sellers of real estate always retain an attorney to oversee the transaction; the attorney’s job is to guide the parties and handle the legal paperwork.

RLTY Law strives to make each client’s closing as seamless and successful as possible. Our attorneys and paralegals have handled thousands of real estate closings. The principals and predecessors of RLTY Law Partners have been practicing real estate law for over fifty (50) years. This experience allows us to anticipate and successfully resolve a myriad of issues that can arise during the closing process.

We have multiple offices to best meet the needs of our clients. We believe in a hands-on approach, and we work with clients to ensure that their rights are protected during the course of real estate transactions. We are committed to helping our clients.

We are also title insurance agents and provide our clients with a full range of title services including title searches and title insurance. From contract negotiation to title review and, ultimately, the closing, our job as your attorney is to make your real estate transaction smooth and efficient in every aspect.

Step 5: Inspections

If you are buying a single-family home, it is highly recommended that you hire a licensed home inspector to inspect the house for any defects (i.e., potential exterior and internal structural or foundation issues, potential plumbing, HVAC, and electrical issues, etc.). The inspector should also search for termites and other wood-destroying insects. We can recommend a licensed home inspector for you.

Step 6: Review and Sign Contract

In Connecticut, the seller’s attorney or real estate agent usually prepares the Contract of Sale. At the time of signing, you also write a check to the seller’s attorney or broker for the down payment.

Upon receipt of the fully executed contract, you may begin your mortgage application process.

Step 7: Apply for a Mortgage

If you are obtaining a mortgage, submitting your loan application in a timely manner is the first critical step to having your mortgage approved. The loan application cannot be officially submitted until a fully executed contract is provided to the bank.

Selecting the right lender can have a crucial effect on your closing costs and closing date. Please ask us regarding our experiences with particular lenders.

Step 8: Schedule the Closing

In order to schedule your closing, the following conditions must be satisfied:

Your lender gives us a “clear to close”
The seller has cleared all title issues
All parties are available

Once the above conditions are met, we will schedule your closing at a time convenient for all parties involved.

Step 9: Final Inspection

Prior to attending the closing, you will schedule a “walk-through” to inspect the property. During the walk-through, you must ensure that the property is in the same condition that it was in when the contract was signed.

Step 10: Closing

The closing is a “meeting” where the deed and other legal documents are given to the buyer and money is given to the seller.
Typically, the buyer will meet with their attorney on the day of closing to execute the bank documents. The rest of the closing customarily takes place via courier and wire transfer.

On the rare occasion when there is an in-person closing, the following individuals usually attend: the buyer, the seller, RLTY Law for the buyer, the seller’s attorney and sometimes the real estate brokers.

After your closing, you become the official owner of the property.

Seller Guide

Step 1: Find a real estate agent in Connecticut

An experienced agent can help you navigate your local market, view your property with an unbiased eye, and provide you with the information you need to enhance marketability and maximize price.

In addition to finding you a buyer, your real estate agent will help you market the property for sale, field offers, negotiate contracts, and navigate the closing process. The NAR Settlement of 2024 has had major implications in the buying and selling process. It is now legally required that Buyers must sign a representation agreement in advance of any property showing that outlines commission responsibility and amount.

Step 2: Hire RLTY Law as your real estate lawyer

The first step in any real estate sale is to gather and eventually accept an offer. In Connecticut, a purchase and sale contract for real property must be in writing; thus, a verbal offer creates no binding obligation upon either party. Offers in today’s marketplace will articulate if the seller is paying part or all of the buyer’s agent commission.

Step 3: RLTY Law Partners, should be RLTY Law LLC

Once you accept an offer, it is time to hire a real estate lawyer. In Connecticut, buyers and sellers of real estate must retain an attorney; the attorney’s job is to guide the parties and handle the legal paperwork.

RLTY Law strives to make each client’s closing as seamless and successful as possible. Our attorneys and paralegals have handled thousands of real estate closings. The principals and predecessors of RLTY Law have been practicing real estate law for over fifty (50) years. This experience allows us to anticipate and successfully resolve a myriad of issues that can arise during the closing process.

We have multiple offices to best meet the needs of our clients. We believe in a hands-on approach, and we work with clients to ensure that rights are protected during the course of real estate transactions. We are committed to helping our clients.

Step 4: Buyer Due Diligence

If your buyer chooses to, they may elect to conduct a home inspection. After it is conducted, the buyer may find certain faults with the property and may ask you to make certain repairs prior to closing or issue them a credit. It is up to you and the buyer to then agree on which repairs you will and will not make.

Step 5: Sign the Contract

In Connecticut, the seller’s attorney or seller’s real estate agent usually prepares the Contract of Sale. Once you sign the contracts, RLTY Law deposits the down payment into our escrow account.

Step 6: Holding Pattern

After the buyer’s attorney receives the fully executed contract, the following conditions must be satisfied:

The buyer’s attorney orders a title search to ensure that title to the property is clean. A title search takes about 5-10 business days. If there are problems with title, we must work to clear the title problems.
If your buyer is obtaining financing, the buyer must apply to his lender to obtain a loan. Generally, it takes about 45-60 days for a lender to clear the loan for closing.

Assuming the title is clean, the buyer is able to get financing, and you have moved out or are ready to move out from the premises, we can schedule your closing.

Step 7: Schedule the Closing

Once the buyer and the buyer’s bank are ready to close, we can schedule your closing. You should plan in advance to determine when you will be able to move out of the premises to deliver the property vacant at closing.

Step 8: You move out

Unless otherwise agreed in the contract, the premises are to be delivered “vacant” and “broom clean” at closing. This means that all occupants must be off the premises and all personal belongings and furniture are removed unless otherwise agreed upon.

Step 9: Closing

The closing is a “meeting” where the deed and other legal documents are given to the buyer and money is given to the seller.

As the seller, you will typically pre-sign the closing documents with your attorney. The rest of the closing customarily takes place via courier and wire transfer.

On the rare occasion when there is an in-person closing, the following individuals usually attend: the buyer, the seller, buyer’s attorney, the RLTY Law for seller, and sometimes the real estate brokers.

After the closing, the buyer is then the official owner of the property.

FAQ

If I am buying or selling real estate, at what point do I need to hire an attorney?

The earlier, the better. Because of our experience, we can help you with referrals to real estate agents and lenders who we know and trust.

If your contract is prepared by a real estate broker, it is important to hire your attorney to review the contract before you sign. In the alternative, be certain there is a provision allowing a certain number of days for your attorney to review the contract before you are obligated. We will review your contract and give important advice to protect you from issues you may not be aware of. In Fairfield County, it is customary for the Seller’s attorney to prepare the sale contract instead of the real estate broker.

What can a real estate attorney do for me?

Draft or review your sales contract
Review your lending documents
Prepare legal and tax documents in accordance with state and federal law
Research and clear title
Address questions related to easement, land use, zoning, permitting, and other restrictions
Work to resolve issues with the home inspection
Work with the realtor, mortgage lender, and opposing attorney to ensure all contract deadlines are met
Anticipate common issues and ensure they are resolved prior to closing
Monitor conditions on your commitment letter from lender to ensure mortgage processing
Order payoffs for any mortgages, judgment liens, water and sewer balances
Calculate any tax and utility adjustments
Conduct your real estate closing

How do contingency dates protect me?

Contingency dates are dates in the contract by which a buyer must get your mortgage commitment or inspections completed, such as building, well, septic, or radon inspections.

An inspection contingency gives the buyer the right to have the home inspected, and in some instances cancel the contract if the condition of the home is not satisfactory. If the buyer requires a mortgage to purchase the property, a mortgage contingency will give the buyer the right to terminate the contract if the buyer is unable to obtain the mortgage financing.

Unless notice is given to the seller prior to the contingency date that a buyer’s condition is not met, the buyer can no longer use the failure of the contingency as an excuse to cancel the contract.

What’s a Title Search?

It is a close examination of all public records that involve title (deed) to a piece of real estate. The person conducting the search looks at past deeds, wills, and trusts to make sure the title has passed correctly to each new owner. The examiner tries to verify that all prior mortgages, judgments, and other liens have been paid in full. A title search should uncover potential problems, such as rights others may hold (right of ways, view easements, power line easements, etc.), claims by prior undisclosed heirs, and pending legal actions.

What’s Title Insurance?

Title insurance ensures that you own your home free of any claim, lien, or encumbrance except those noted on the policy at the time it is issued. If this information is incorrect and a claim against your ownership is made, the title insurance company pays the costs of attorney’s fees to defend you against this claim and, if the claim is found to be valid, the title company will either pay the claim (up to the amount of the policy) or undertake to correct the defect in title, at their expense. Lenders will require you to purchase a Loan Policy which protects their interest in the property, but this policy does not protect you. An Owner’s Policy is purchased to protect the buyer’s interest in the property. Rates for title insurance policies are set by each state and are based upon the mortgage amount and purchase price of the home. In Connecticut, attorneys act as agents for title insurance companies, and we will arrange for the issuance of your title policy.

The buyer pays a one-time title insurance premium at closing.

These are just some of the hidden defects that a title insurance policy can protect against:

Fraud
Forged Deeds
Unknown Heirs
False Affidavits
Unpaid Judgments
Unfiled Liens
Forged Documents
Improperly Indexed Documents

What will my closing costs be when I buy my property?

Home inspection fees:
$1,000.00 for a general building inspection.

Underwriting:
$995.00

Title Search:
$300.00-$400.00

Appraisal:
$400.00-$600.00

Origination: based on loan type/amount

Title Insurance, Lender & Owner:
.35% of purchase price

Attorney’s Fees:
$850.00-$2,500.00, call or email us for a flat fee quote.

Recording Fees:
$200.00-$400.00

Prepaids:
You may be required to prepay interest on your mortgage, escrows, and seller adjustments.

What will my closing costs be when I sell my property?

Agent Commissions:
Typically 5-6% of the sale price

State Conveyance Tax:
.75% of the sale price up to $800,000.00,
1.25% of the sale price between $800,000.00 and $2.5m,
and 2.25% of the sale price over $2.5m.

Town Conveyance Tax:
usually .25% of the sale price though some towns charge more

Attorneys’ Fees:
$850.00-2,500.00, call or email us for a flat fee quote.

Recording Charges:
~$200.00

Must I attend the closing?

Sellers may choose not to attend the closing and typically pre-sign the closing documents. If the seller does not attend the closing, it is important seller is available in case unforeseen issues arise at the closing. It is more common for buyers to attend the closing since many lenders require a borrower to attend a closing. Exceptions can be made, but only if a lender gives prior permission. If there is no lender, then it is usually acceptable.

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