The Connecticut Housing Market is Still a Seller’s Paradise

The housing market is still booming in Connecticut for those who want to sell their residence.  There continues to be a national shortage of properties for sale, thus allowing the seller to generally sell their property for well-above asking price right now.  However, if you are looking to quickly purchase a property, it may be an ideal market for you as well.  Most people involved in real estate transactions right now are moving as quickly as possible. This includes your mortgage lender, your real estate agent and attorney’s offices as it is imperative to move through the files as quickly and efficiently as possible.

What should you consider before listing your house in the Summer 2021 market?

  1. Is your real estate agent experienced in selling homes? Even though it is a seller’s market, you want your agent to help you highlight your home in the best possible way to make it move off the market quickly. You also will need to rely on your agent to explain different terms within the offers to you as agents have been getting creative with offers to ensure their own clients the most success possible.
  2. Do you have an attorney lined up? It may be beneficial to interview closing attorneys prior to, or simultaneously, to listing your property since your sale may go quicker than intended.
  3. Do you have a place to go? If you are buying and selling properties at the same time, you should consult with both your agent and your attorney to determine the best timing for you to alleviate additional burdens during the transition.

What should you consider before purchasing a new home in 2021?

  1. Have you found a real estate agent that is right for you? Make sure that you and your agent are on the same page and that he or she understands your goals. Also check with your agent on his or her schedule and how and when you are able to contact them. The summer market is hot and offers need to be submitted right away.
  2. What can you do to make your offer unique? Consider if writing a personal letter will help, or perhaps if you can afford a cash deal, a larger deposit, or even gap insurance.
  3. Will your attorney negotiate your contract for you? Often, negotiating real estate contracts is separate from the actual closing transaction. You should consult with your attorney in advance to determine how much assistance you need, and at what stage of the purchase.

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Are you looking for an experienced attorney to handle your real estate sale, purchase, or contract negotiation? Contact Wolf & Shore Law Group today to make your closing easier, not harder.

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