How to Sell a House By Owner in Connecticut
When the time comes to move, some enterprising homeowners in Connecticut decide to take control of their home sale and figure out how to sell a house by owner.
While millions of homes are sold annually, only about 7% of sellers choose the “For Sale By Owner” (FSBO) route. Interestingly, nearly 60% of these sellers already knew the buyer, according to the National Association of Realtors (NAR).
In this guide to selling FSBO in Connecticut, we’ll explore the challenges you might face selling by owner in the Constitution State. We’ll also provide a comprehensive overview of the entire process of preparing, marketing, and closing the sale of your home without the help of a real estate agent.
Editor’s Note: If you’d like to consult with an expert to discuss your options, HomeLight would be happy to introduce you to a highly-rated real estate agent in your Connecticut city. Top agents know the local market and can typically get you a top-dollar sale and provide a better selling experience.
How does selling by owner (FSBO) work in Connecticut?
Disclaimer: This post is intended for educational purposes. HomeLight recommends you research your area’s real estate regulations and consult a trusted advisor.
FSBO is a method of selling your house without hiring a listing agent. In a FSBO transaction, the seller assumes the responsibilities that would normally fall to their real; estate agent, such as pricing the home, marketing it to potential buyers, arranging showings, and negotiating the final sale agreement.
In an agent-assisted sale, the seller traditionally pays a Realtor fee or commission amounting to about 6% of the property’s sale price, which is then most typically split 50/50 with the buyer’s agent. That 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can remove the expense of the listing agent’s commission (which is about 3%), though they may still need to offer a buyer’s agent commission.
