Due to significant increased costs in doing business, namely when it comes to regulatory compliance, Connecticut Attorneys Title Insurance Company (CATIC®) recently requested and have been approved for a rate change on title insurance on real estate in Connecticut. This will be only their second rate increase since 1992. The new rates on title insurance […]
Also Increases Conveyance Tax On Expensive Homes First-term Governor of Connecticut, Ned Lamont, is introducing a new bill – to implement his proposed budget – that would expand the sales tax on services in Connecticut to legal and real estate related services. The bill also increases the conveyance tax on homes over $800,000.00. You can […]
FHFA Announces Increase in Maximum Loan Amounts for Conforming “FHA” Mortgages There is some good news for those people looking to buy a home in 2017. The Federal Housing Finance Agency, or FHFA, has announced that for the first time since 2006, they will be raising the maximum conforming loan limits for FHA mortgages. FHA […]
What is a real estate conveyance tax? A real estate conveyance tax is a tax paid by the “Transferor” in a real estate transaction, typically this is a Seller. However, there are some clever Sellers that put the burden of paying the conveyance tax on the Buyer in the real estate purchase and sale contract. […]
About the Real Estate Binder What is a Binder? A real estate binder is an agreement that is commonly drafted by real estate agents. It is a document that contains all the terms of a proposed real estate transaction and usually contains the names of both parties, who their real estate agents are, who their […]
