We Buy Houses for Cash in Connecticut

One Connecticut quirk shapes a lot of home sales: before a buyer signs anything, the seller has to hand over a Residential Property Condition Report, and that form asks directly about pyrrhotite, the mineral behind the crumbling concrete foundations found in the northeastern part of the state. If your house has a foundation question, a mortgage that has fallen behind, tenants in a two- or three-family, or just years of deferred maintenance, a conventional listing can stall on inspections and financing. Swifty Home Buyers buys Connecticut houses for cash, as-is, with no agent commissions and no repair requests, and you choose the closing date. Below is what Connecticut sellers should know about the tax, the paperwork and the foreclosure process before deciding how to sell.

We buy houses in all 50 states. This guide covers the rules that matter in Connecticut.

Connecticut's real estate conveyance tax is paid by the seller and has two layers. The state tax on residential property is 0.75% of the price up to $800,000, 1.25% on the part between $800,000 and $2.5 million, and 2.25% on any part above $2.5 million. The municipality then collects its own 0.25% of the price, and a legislative research report notes that certain designated municipalities can charge up to an additional 0.25%. On a $300,000 house that is $2,250 to the state and $750 to the town, about $3,000 in total, before any commission. Some transfers are exempt, such as transfers between spouses, and your attorney can tell you whether one applies. You will also have attorney fees, any loan or lien payoffs, and the prorated property taxes that are usually settled at closing. With a traditional listing, the agent's commission and any repairs a buyer asks for come on top. In a cash sale to Swifty there is no commission and no repair list, and we put the costs in writing before you commit.

Connecticut foreclosures go through the court. A lender sues in Superior Court, and the judge can order either a strict foreclosure, in which the owner is given a date (a law day) to pay off the debt before title passes to the lender, or a foreclosure by sale, in which the property is sold at auction. Which route a case takes can affect whether you keep any equity, so it is worth understanding early. Connecticut also runs a Foreclosure Mediation Program for owner-occupants of one- to four-family homes that they use as a primary residence; when an eligible owner files an appearance and asks for mediation, the lender must take part. The legislature has extended the program's sunset date since a 2020 legislative report described it, so confirm its current status with the Judicial Branch. The Connecticut Housing Finance Authority offers the Emergency Mortgage Assistance Program, a 30-year fixed-rate second mortgage that can bring a delinquent loan current for owner-occupants who meet its hardship, credit-history and asset rules. If you cannot realistically catch up, selling before a court-ordered sale or law day can pay off the loan and preserve any remaining equity. A Connecticut attorney or HUD-approved counselor can tell you where your case stands.

• Sell as-is
• Inherited house
• Foreclosure
• Tenants or rental property

Northeastern Connecticut and crumbling foundations

The Connecticut Department of Housing says upwards of 35,000 homes in a radius of Stafford Springs face the potential for a failed concrete foundation because of pyrrhotite, which slowly deteriorates concrete when exposed to oxygen and water, and its program pages describe eligibility for a captive insurer's assistance as homes within 20 miles of the J.J. Mottes Concrete Company in Stafford Springs. State law also requires specific language in the building structure statement telling buyers they may have a concrete foundation inspected (Public Act 18-179). If you own a home in that region, an honest report and a buyer who is not depending on a mortgage appraisal can make a sale far simpler. We buy homes with foundation concerns as-is.