Saturday, December 2, 2000

Greenwich Neighborhoods - Byram

Byram, settled in 1660, is located in the extreme southwestern corner of Greenwich. Originally a farming and fishing community, industry came to the area in the nineteenth century. The Hendroth Brothers foundry built furnaces and stoves here, employing over 700 workers. The factory occupied two blocks from the Mill Street Bridge to Willett Avenue. Proximity to the Byram River was ideal since the docks could receive barges carrying iron and coal. During the 1800's Byram was home to Slovaks, Italians, Scandinavians, Germans and Poles who came here to work in area foundries and factories.

Only one square mile in size, Byram is defined by narrow streets and homes built in the early twentieth century by entrepreneurial builders. These enterprising businessmen bought inexpensive farmland for less than $300 an acre and built hundreds of homes near the Byram River for local workers. Many of these homes are occupied today by third generation families.

There are two legends as to how Byram got its name. One is that the Siwanoy Indians and colonial settlers went to this part of town to 'buy rum' from smugglers' boats resting just offshore. The other is that a rich nineteenth century landowner fell in love with his Irish maid, Mary Bridge, or Mary B. Since he was already married, he knew she could never be his wife, so he called the area Byram, in her honor, which is her name spelled backwards.

Byram has strong neighborhood bonds and is defined by churches, social clubs, its New Lebanon Elementary School, Dorothy Hamill Skating Rink and Byram Shubert Library. Over the past century, Byram had been known as New Lebanon, Hawthorne and East Port Chester. The name New Lebanon was given by resident Milo Mead who compared the large red cedar trees of the area to the Cedars of Lebanon mentioned in the Bible.

At the end of the nineteenth century, old Byram farm families such as the Lyonses and Meads began selling off their extensive landholdings to affluent New Yorkers. Byram Shore Road then developed into a luxury estate section with breathtaking homes overlooking the Long Island Sound. Initially these estates were strictly summer residences. When the railroad and Connecticut Turnpike made travel to and from New York more accessible, these properties became year-round homes. The residents of this affluent section have been characteristically known for their dedication to philanthropic causes. The building of the Connecticut Turnpike in the 1950's cut Byram across from east to west and created a physical separation between the expensive waterfront estates of Byram Shore Road and the middle-class neighborhoods in the downtown area.

Byram Park is nestled on the Long Island Sound in the western end of town. The thirty-acre park has a harbor with 300 slips for small boats. The beach accommodates over 40,000 residents each year and has the only public swimming pool in Greenwich. The Park has lighted tennis courts and the only lighted ball field in town. The granite walls surrounding the softball diamond were part of the Ritch family quarry in the 1840's. It is said that some of this stone was used to build the Brooklyn Bridge and the Statue of Liberty. Byram Beach also has a clambake area with a beautiful view of the Sound and a pavilion for family and corporate gatherings.

Today, Byram remains economically and ethnically diverse. With its busy downtown area filled with shops, restaurants and its own firehouse, Byram remains a self-sufficient little village with a community spirit that keeps it one of the least transient communities in Greenwich.

Friday, November 3, 2000

Greenwich Neighborhoods - Cos Cob

Cos Cob, inhabited in the seventeenth century by the Siwanoy Indians, was originally known as Mianus, after the Siwanoy Chief, Myanos. The Siwanoy harvested clams, oysters and scallops on the Long Island Sound. Later, Cos Cob was home to Dutch and English colonists. It got its present name from an early English settler, Joe Coe. Coe owned the land around the mouth of the Mianus River and built a stone seawall to protect his shoreline. The wall was referred to as a "cob" and it ultimately became known as Coe's Cob. When Coe moved away in 1659, the name remained but the "e" was dropped over time.

Cos Cob remained an active seaport during the eighteenth and nineteenth centuries. A Dutchman named Justus Bush bought land with a small structure on it in 1738. He expanded this structure into what is now known as the Bush-Holley house. A dam and bridge were built across Strickland Brook in 1763 by Justus' son, David Bush. He owned a gristmill below the dam. The Lower Landing became a port where market vessels docked bringing supplies in and out of the harbor. Sea captains began building large homes along Strickland and River Roads. Horse-drawn wagons would bring fresh produce from Greenwich Farms to be loaded onto these boats, bound for New York. The area prospered, making it a target economically and strategically in the Revolutionary War. In February 1779, the British raided Cos Cob and destroyed the Lower Landing with its store houses and supplies.

At the turn of the nineteenth century, Cos Cob was a sparsely-populated picturesque community with many acres of inexpensive, undeveloped land. Because of its location on the harbor, it became a popular summer resort for New Yorkers. Cos Cob was becoming an artistic community, drawing talented writers and gifted artists. Cos Cob has been home to such artists as Jean Webster, Willa Cather, Eugene O'Neill, Walter Lippman and Anya Seton. Anya's father, Ernest Thompson Seton, owned one hundred acres along Bible Street and was the founder of the Boy Scouts of America.

In the early twentieth century, the Post Road was being developed with electric lines, water lines and trolley service. Because of its central location, this Cos Cob business district became known as The Hub. Construction of new stores at The Hub continued through the 1940's as sidewalks and gas lines were added. In 1967 the Mill Pond Shopping Center was built on the south side of the Post Road. As The Hub was being developed in the early 1900's, back country Cos Cob farmers began selling their land to New Yorkers seeking to relocate. When bus service arrived on the Post Road in 1925, it was so successful that trolley service was discontinued. Soon after, of course, automobiles became the major means of transportation. In 1938, the opening of the Merritt Parkway began to relieve traffic on the Post Road but since trucks were not permitted on the Parkway, there was still significant congestion. On August 25, 1958 the Connecticut Turnpike opened when the Mianus River Bridge was completed.

Today, Cos Cob is a small village with a mix of private residences, condominiums, its own post office, school and railroad station, the shops and restaurants of The Hub and a harbor still active with marinas.

Wednesday, October 4, 2000

Greenwich Neighborhoods - Glenville

Glenville was a tiny mill town founded in 1774 by Baptist settlers seeking land on which to establish a church. The area was originally called Sherwood's Bridge, named for the Sherwood family who settled here in 1634. During the nineteenth century, the name Sherwood Bridge was changed to Glenville because, history tells us, a glen was formed by the tree-covered hills that dipped toward the Byram River.

The Sherwood family owned a farm on Glenville Road that provided 1,400 dozen eggs per week and 1,000 turkeys per year. The Sherwood family began farming in 1756 and continued for nine generations. The farm, one of the oldest in New England, closed down in 1978. The Sherwoods were veterans of every American war and some of the family members are buried in the small cemetery which fronts Glenville Road.

Glenville has always been home to industry because of the power of the Byram River that flows through the area. Mill work brought many Irish workers to the neighborhood during the nineteenth century, followed by Polish immigrants during the early twentieth century. In 1790, a mill was opened for grinding Peruvian bark, used as fever medication. From the mid-eighteenth century until the early twentieth century, still another mill ground wheat and corn for area farmers. Glenville is best known, however, for the American Felt Company, a producer of piano felts and felt for cars and aircraft. The American Felt Company closed in 1979 but has always been considered an important part of the Industrial Revolution. Also known in Glenville was Russel, Fursall and Ward, a manufacturer of nuts and bolts for use in assembling stoves. Eventually, this company became a major supplier of metal fasteners. The waterfall that gave power to the mill industries still flows today. The Mill remains the heart of Glenville, consisting of upscale restaurants, condominiums, offices and retail stores.

After World War II, homes were being built on previously undeveloped land, as Glenville developed into a residential community. The neighborhood began to flourish. The original Glenville School was built in 1921 and is now the Western Greenwich Civic Center. The Glenville fire house was built in 1951 and the Glenville Post Office in 1962. Soon after, the Glenville Shopping Center opened for business. As the area population increased, the need for a bigger school became apparent. The current Glenville School on Riversville Road opened its doors in 1975 and is one of the largest elementary schools in Greenwich. In the 1930's the Rockefeller family, through their Indian Spring Land Company, began buying up land on Glenville Road, including part of Sherwood Farm. In December 1979, the remaining portion of Sherwood Farm was sold to Indian Spring Land Company for $300,000. The Indian Spring Land Company has since developed this property into a residential community of multi-million dollar estates.

The residential and commercial development of Glenville, combined with the natural beauty of the area, has made it a highly-desirable section of Greenwich. In spite of the tremendous growth that Glenville has seen in the past decades, the familiar neighborhood ambiance still thrives throughout the area.

Tuesday, September 5, 2000

Greenwich Neighborhoods - North Mianus

North Mianus, a small community on the Mianus River north of the Post Road was known as Dumpling Pond in the early 1900's. It was one of Greenwich's first commercial districts with large ships picking up fresh produce from local farms. Immigrants moving into the area were largely of Italian descent, many settling near the Community Center which then housed part of the North Mianus School. North Mianus was a close-knit community of hard-working families placing great importance on the education of their children. Unfortunately, it was not uncommon for many of the children to leave school in the seventh or eighth grade to help earn money for their families. Early on, the facilities of the North Mianus School were scattered, with the Community Center housing the upper grades and various nearby buildings holding classes for the lower grades. The new North Mianus School opened on Palmer Hill Road in 1926.

Today, North Mianus is a quiet residential community with an abundance of natural parkland and many homes enjoying direct frontage and activities on the Mianus River.

Monday, August 7, 2000

Greenwich Neighborhoods - Pemberwick

Pemberwick, a small residential section located just north of the Post Road on the western edge of town, borders New York State in the southern-most portion of the greater-Glenville area. Many of the homes in Pemberwick lie on the banks of the beautiful Byram River which runs along Pemberwick Road.

The community prides itself on its own Pemberwick Park, the popular site of many local sporting events. The 8-acre facility consists of a baseball diamond, tennis, basketball and bocci courts, a playground and picnic area. Other sections of the Park include a conservation area with winding trails, flowers and tall native grasses, and a heavily-wooded 21-acre area. Town legend tells us that a cave in this wooded section was the dwelling of a mysterious "Leatherman" who roamed the woods late in the nineteenth century dressed in animal skins and surviving on food given to him by local residents.

Today, Pemberwick is a great little community, sharing local amenities with its Glenville neighbors. Proximity to New York makes Pemberwick an extremely desirable location for those working in and around Westchester and Manhattan.

Sunday, August 6, 2000

Greenwich Neighborhoods - Old Greenwich

Old Greenwich, the eastern-most section of town, is where the story of Greenwich begins. Unlike other New England communities, Old Greenwich was not settled by church-going Puritans. It was first settled by English nonconformists on the run from the highly puritanical Massachusetts Bay Colony. On July 18, 1640, two such agents for the New Haven Colony, Captains Daniel Patrick and Robert Feake, landed at Greenwich Point, then called Monakewego, and purchased from the Siwanoy Indians the land between the Asamuck and Patomuck rivers. The boundaries of this land are the stream that runs through Binney Park and a creek that runs through the Innis Arden Golf Course on the Greenwich/Stamford border. Greenwich Point became the special purchase of Elizabeth Feake, wife of Robert Feake, and the name was changed from Monakewego to Elizabeth Neck. The price paid to the Siwanoys for all this land was twenty-five English Coats. One of the witnesses of this purchase was an Englishman, Jeffrey Ferris, who named the new settlement after the place of his birth, Greenwich, England.

Organized religion did not begin in Greenwich until 1658, when the town held its first religious services in settlers' homes. In 1662, Greenwich and neighboring Stamford came under the jurisdiction of the Connecticut Colony. The first recorded Greenwich Town Meeting took place in 1664. Seven men petitioned the General Assembly to become independent from Stamford and create their own government. These seven proprietors were Jeffrey Ferris, Joshua Knapp, Joseph Ferris, Jonathan Reynolds, Angell Husted, John Mead and John Hobbe. Greenwich then became known for its New England orthodox religion, Congregationalism. This independently-run Protestant congregation chose their own religious leaders and governed the secular community as well. At that time, there was no separation of church and state.

As Greenwich began developing westward, Old Greenwich was renamed Greenwich Old Town to distinguish itself from the newly forming areas of central Greenwich. When the railroad came in 1848, the New Haven Railroad objected to having a Greenwich station and a Greenwich Old Town station, so the name Greenwich Old Town was changed to Sound Beach. In 1930, the village was officially renamed Old Greenwich. Today, the village's fire department and its main street still carry the name of Sound Beach.

In the late nineteenth century, a wealthy newcomer, J. Kennedy Tod, built a great home, a nine-hole golf course and a bird sanctuary on his one-hundred-forty-seven acre waterfront estate. After World War II the town bought the Tod estate which was willed to Presbyterian Hospital of New York upon Mr. Tod's death. The estate, in its entirety, was purchased for $550,000 and the beaches were open to the Greenwich public. Today, Tod's Point is known as Greenwich Point and it is the largest public beach in Greenwich.

Old Greenwich was originally a farming and fishing community. At the beginning of the twentieth century, the coming of the Greenwich Inn on the Long Island Sound attracted tourists and summer residents to the area. More and more summer homes were being built and were available for seasonal rentals. Guests at the Inn loved the waterfront area and would return to rent homes the following season. Ultimately, many of these families purchased or built residences for both seasonal and year-round use. This began the transformation of Old Greenwich into a modern, waterfront community.

In the late 1920's the site of today's Binney Park was a salt marsh, breeding beautiful wildflowers. At that time, little was known about the ecological importance of wetlands, and a development of homes was planned for the site. The two daughters of Edwin Binney, wishing to preserve the threatened meadow, suggested to their father that he buy the land and create a park for the town. Mr. Binney agreed that if the sisters arranged the purchase, he would supervise the landscaping of the property and donate it to the town. The beautiful 32-acre park was dedicated on September 28, 1933.

Today, Old Greenwich is a sought-after residential community. Homes on the Long Island Sound command extraordinary prices. Old Greenwich is best known for its excellent schools, Perrot Library, charming shopping village, picturesque Binney Park and, of course, its beautiful shoreline at Greenwich Point.

Friday, July 7, 2000

Greenwich Neighborhoods - Riverside

Riverside, known until 1870 as Mianus Neck, was a community known for fishing enterprises, orchards and farming. At that time, Riverside Avenue was called Potato Road because of the potato storage cellars near the cove. Legend tells us that the east bank of the Mianus River was named Dumpling Pond, for the colonial housewife during the Revolutionary War who threw her dumplings into the pond rather than having them taken by the British soldiers passing through after they destroyed the Lower Landing in Cos Cob. In 1870, the U.S. government approved a post office and the State of Connecticut changed the name of Mianus Neck to Riverside.

The Riverside Yacht Club, founded in 1888 was a strength which drew people from New York City and other parts of the country to settle into homes in Riverside. The shore of the Long Island Sound was extremely attractive to the wealthy in pursuit of property to build estates.

To maintain a strictly residential section of town, The Riverside Association was formed in the late 1920's. The Association was successful in shutting down several stores but they were unable to shut down the variety shop, Ada's, because it had pre-existing rights. Today, Ada's is a community landmark originally known for its penny candies. It is one of the only commercial entities in Riverside south of the Post Road.

Since the early 1900's Riverside has always been a community lacking ostentation. Its population consists of executives, plumbers, shop owners and employees of all levels, living together as neighbors. Riverside children originally attended school in Old Greenwich. In the 1930's the Old Greenwich School became extremely overcrowded. In 1933 Riverside got its own elementary school and in 1955 Eastern Junior High School was built across the street. Riverside continued to grow and develop and is now a sought-after and close-knit residential community.

Thursday, January 13, 2000

About Greenwich

On scenic Long Island Sound, just 30 miles from midtown Manhattan, Greenwich Connecticut is a vibrant cosmopolitan community considered among the most desirable in the nation.

Founded in 1640, this historic town retains its natural beauty and picturesque charm, encompassing some 50 square miles stretching from the rolling hills, woodlands and meadows of the backcountry to 32 miles of shoreline on the Sound.

The town is comprised of several villages or hamlets, each with its own unique character, and many with roots dating back to the pre-Revolutionary War era. Along with prestigious country clubs, yacht clubs, and magnificent real estate, Greenwich offers more than 1,500 acres of beautiful parklands including the Audubon Center, the splendid beaches and scenic nature trails of Greenwich Point and an 18-hole town golf course designed by Robert Trent Jones.

The main business district of Central Greenwich, with Greenwich Avenue as its signature street, offers a wide range of shops and restaurants. Extensive cultural attractions include the nationally recognized Bruce Museum, the Greenwich Library, and numerous performing arts organizations.

Greenwich public schools are consistently ranked among the finest in the nation, and the town is also home to excellent private schools. Greenwich is served by convenient commuter train service to Manhattan, less than an hour's ride away, and is situated minutes from Westchester County Airport and within easy reach of three major airports.

Tuesday, January 11, 2000

Greenwich Estates And Manors - About Our Firm

What sets Country Estates And Manors apart is our ability to listen carefully to the needs of our clients, zero in on their specific requirements and achieve outstanding results. When buying, we streamline a list of potential homes that are a perfect fit. The wisdom and experience with which we direct our clients can help build their personal wealth with sound investments in Greenwich real estate. When selling, we customize an advertising campaign and price the home to move quickly, while preserving the integrity of the investment. Additionally, Country Estates And Manors' agents are highly skilled at the art of negotiation and closing the deal. We ease you through the real estate transaction. Our small size and private ownership allow critical decisions to be made quickly and decisively in pivotal negotiations. The end result is a rewarding real estate experience with our clients very happy in their new homes.

Country Estates And Manors
operates as a team with a lively interaction and sharing of information among our experienced sales agents, marketing professionals and company principals. This exchange of ideas and knowledge energizes us as a firm as we look ahead to each new business week.

Country Estates And Manors' tradition is to maintain long-term relationships with our clients, remaining a source of professional expertise long after the real estate transaction has been completed. The network of referrals that our firm receives is a statement of the respect we have earned in the Greenwich real estate market. As a result, Country Estates And Manors has as its signature an enduring reputation for excellence and integrity.

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Greenwich Real Estate - Buying A Home - Find Homes In Greenwich At InsideGreenwichRealEstate.com

BUYING A HOME:


1. Making the Decision to Buy:
The decision to purchase a home is often driven by the need for more space, the need to move to a new location or simply the desire to change one's life style. If you are unfamiliar with the area to which you are moving, the REALTOR you choose must make an effort to introduce you to the characteristics of the community and help you decide if this is a good match for your needs. Within any community there are variations by neighborhood, and these should become clear to you as you are shown properties in the community. By giving your REALTOR feedback, you can make the search process more efficient. If your REALTOR learns that you do not want to buy in a particular neighborhood, he or she will not show you properties there and will concentrate instead on those areas which interest you.


2. Selection of a REALTOR:
The selection of a REALTOR in a community such as Greenwich is made easier by the presence of the Greenwich Multiple Listing Service. Almost every real estate agent in the community is a member of the Greenwich MLS, which gives each REALTOR access to every property listed by every office in the membership. Therefore, it is not necessary to seek the services of more than one REALTOR.

In your selection of a REALTOR, you should look for someone with whom you are compatible. When you initially meet with a REALTOR, whether this is someone to whom you have been referred or someone you have randomly chosen, you will be asked to sign a buyer authorization form. Required by state law in order for the REALTOR to show you properties, provide you with information, and negotiate on your behalf, this agreement will state the time frame during which the agreement is in effect, the kind of property it covers, and the area of Connecticut in which it is effective. If you are uncomfortable making a commitment to a REALTOR, ask that the time frame be limited to a day, a week, a month or any time frame which you feel you need to determine whether you would like to work with this person. When you ascertain that the relationship is compatible, you can sign an extension of the time frame.

Since every REALTOR has access to the same properties through the Greenwich Multiple Listing Service, there is no need to use the services of more than one REALTOR concurrently. In fact, doing so can cause confusion to you and your REALTOR. Be sure that you have specifically described what you are looking for in a property and ask your REALTOR to introduce you to properties which most closely meet your criteria. Give feedback on properties that you are shown, so that your REALTOR can continue to refine the picture of what you need. If your criteria changes, communicate this to your REALTOR. For example, if you decide that a particular style of house does not fit your needs, let your REALTOR know so that houses of that style are no longer shown to you.

It is a REALTOR's responsibility to inform you of any material facts about a property which he or she knows. These facts would be things such a condition of roof, presence of wetlands on a property, a known change to a road which will impact the property, etc. It does not include information about the seller's reason for selling, who the neighbors are, etc. Your REALTOR may not know everything about the property's condition; that is why you will have a building inspection done before signing the contract to purchase.

When you have developed interest in a particular property, your REALTOR will be able to provide information about comparable sales in the area to help you determine value. Your REALTOR can arrange for you to visit the local schools, obtain information about programs available in the area and help you select the appropriate property.


3. Mortgage Pre-Approval:
You will contact a mortgage company or banking institution to understand what purchase price might be correct for you. Further understanding of your financial situation will allow the lender to issue you a "Pre-Approval" letter which stipulates that you have been approved for a mortgage up to a specific dollar value. This is a valuable asset for you during the negotiation process. If you are not familiar with the names of lenders in Greenwich, your REALTOR will be able to provide you with that information.


4. Finding the Right Property:
The search for your new home is truly a joint effort between you and your REALTOR. Be as open with your REALTOR as possible about your likes and dislikes. It is very important to tell your REALTOR what you like about each house you visit so he/she will begin to understand what you are looking for in the home you wish to buy. Between your input and your REALTOR's professional skills, the search will narrow until you ultimately find the "right" property for you.


5. Making an Offer to Purchase:
Once you have focused on one or two properties, your REALTOR will be able to provide you with market data on recently sold properties. This information will help both you and your REALTOR formulate your offer. Working with your REALTOR, you will be able to determine where you would initially like to start with your offer price. You should then develop a set of strategies, each dependent upon how the seller responds to your offer, so you do not end up "reacting" to any counter offer made by the seller.
The offer may include, but is not limited to the following:
  1. The Opening Offer Price that you are willing to pay.
  2. Financial Contingency requirements, amount of your mortgage and date by which you will receive a written commitment.
  3. The Closing Date upon which you will take ownership of the property.
  4. Inspection Contingencies (building, radon, lead paint, termite, well, septic, survey, etc.) usually termed "all physical inspections".
  5. Other Contingencies, if any, that are to be identified and included in a Contract of Sale along with dates if appropriate.
  6. Identification of the Inclusion and/or Exclusion of any "personal property" (washer/dryer, etc.).
  7. The date you will sign the contract and give 10% of the purchase price as earnest money.

This complete offer is then presented by your REALTOR to the Listing Agent for the property. The seller may respond in any one of the following manners:
  1. The seller may totally reject your offer without giving any counter offer.
  2. The seller may counter your offer with one of their own.
  3. The seller may accept your offer as it was presented.

Once a verbal agreement has been reached, a written "Offer to Purchase" is prepared by your REALTOR outlining the terms agreed to by you and the seller. This document is then transmitted to the Listing Broker and the attorneys of record.


6. Finalizing your Financing:
After an offer has been accepted by the seller the lending institution you have chosen will require an appraisal on the property to be mortgaged. The institution will send one or sometimes two appraisers to do a thorough inspection of the property to determine whether the property will qualify for the desired mortgage. Once the institution agrees to finance a particular property, they will issue a commitment letter whereby they agree to provide a certain dollar mortgage at a specific rate for a specific time and the buyer is assured the financing is in place.


7. Utilities and other details:
Your REALTOR will remind you about two weeks prior to closing that the appropriate utilities and services need to be notified in order to transfer the accounts to your name. These include, electric, gas, oil, propane, telephone and refuse. They may also include pool services, yard maintenance and more. During the same period the seller will be contacting the same providers to discontinue the same services. This transition needs to go smoothly to protect you from having to pay a "connection or hook up fee" because the service was completely terminated. Your REALTOR can help you with this, but the companies now require the new homeowner to initiate requests for service.


8. The Contract:
The seller will instruct their attorney to draw the Contract of Sale to include the terms agreed upon. Your agent will ensure that, at the same time, your attorney receives the necessary information so that he/she can begin their work and be prepared to receive and review the contract. Your attorney will review the contract from your perspective and insure that your interests are protected (such as including stipulations for delays, searching of Title, type of Title to be conveyed, cleanliness of the premises at the time of closing, etc.) The timing of this, dependent upon the complexity of the terms, should all take between five to ten days from accepted offer to signed contracts. You will normally be expected to submit an escrow check in the amount of 10% of the total purchase price (made out to the seller's attorney) with the signed contract.


9. Closing Day:
On the day of your closing, you and your REALTOR need to perform one last walk through of the premises. Together you will look to insure the property is in the condition is was when you signed the Contract of Sale. You will verify that the items to be included are present. You want to make sure the house and grounds are as specified within the contract and most important that there are no defects visible now which were previously hidden.

You (or in your absence, you power-of-attorney) will attend the closing - primarily to sign appropriate documents and deliver checks for appropriate amounts. If your situation dictates, you may actually meet with your lender immediately prior to the time of the closing to sign your mortgage papers. Between your REALTOR, your attorney and your lender you will be advised ahead of time of all the costs and fees associated with your closing.


10. Typical Home Purchase Costs:
  1. Points or loan origination fee.
  2. Adjustment of interest on loan from date of closing.
  3. Title Insurance (one-time fee required by banks).
  4. Credit check.
  5. Bank appraisal.
  6. Attorney's fee.
  7. Survey fee: If the property has not been surveyed, the lender to Title Insurance company may require a registered survey or plot plan showing the location of the dwelling(s) and the boundaries of the property, as well as easements and rights of way.
  8. Recording Fees: The buyer usually pays the fee for legally recording the new deed and mortgage.
  9. Homeowners Insurance: Proof of a current policy is necessary at closing. Adjustment costs paid to the seller at closing (where applicable)
    1. Buyer's share of pre-paid property taxes.
    2. Heating oil or gas remaining in tank(s).
    3. Association dues.
    4. Sewer service charge.
  10. Inspections made of the property (normally incurred prior to closing) which may have been performed at the request of the buyer, pest, structural, radon, lead based paint, well, septic, etc.
  11. Private Mortgage Insurance (PMI) if financing more than 80%. Tax escrow, if necessary.

Greenwich Real Estate - Selling A Home - Greenwich Homes For Sale At Inside GreenwichRealEstate.Com

SELLING A HOME:


1. Selecting a REALTOR:
Choosing a REALTOR is the first step in the home selling process. The selection of a REALTOR in a community like Greenwich is made easier by the presence of the Greenwich Multiple Listing Service. Almost every real estate agent in the community is a member of the Greenwich MLS, giving each REALTOR access to all properties listed in the MLS. You could start the search by asking your friends or your attorney to recommend a good candidate for you. Although a Real Estate company's reputation is important, your relationship will be with the Agent himself/herself. The REALTOR you choose should be a full time agent with broad experience and total knowledge of the market.



2. Preparing Your Home for Sale:
Everything in your home needs to be looked at through the "eyes" of the buyer. Your REALTOR should be able to help you with this. They will suggest things to be done to the property to ensure the highest price, such as painting (interior and exterior), removing valuable objects and "decluttering", having the windows washed, gutters cleaned and making other minor repairs that may be necessary. You should expect your Agent to be very frank with you about what your home may need to facilitate a timely sale.


3. Documents and Marketing Program:
Once you select a REALTOR you will be requested to sign a listing contract, a Greenwich MLS data input form, a State of Connecticut "Residential Property Condition Disclosure Form", and a U.S. Environmental Protection Agency Disclosure Form regarding lead based paint hazards (for properties built prior to 1978). Your Agent will review these documents with you, and if you care to seek legal advice, then do so before signing. Selling your house is disruptive and can be intrusive into your every day life, but your agent will work hard to minimize this.


4. Broker Open House:
The listing REALTOR of your property will schedule an Open House for the other REALTORS who are members of the Greenwich MLS so they may preview it. This helps REALTORS determine which of their customers might be interested in viewing your house. The Open House schedule in Greenwich is specific to certain times and sections of town allowing REALTORS to see as many Open Houses as possible in the given time frame. At the Open House the listing REALTOR will provide information, such as the listing itself and plot plans, and is available to answer questions about the properties.


5. Showing the Property:
The REALTOR will acquaint you with the various means by which a property can be shown. First, there is the installation of a keybox. This method allows the greatest access, because the only scheduling required is for the REALTOR showing the property to confirm with the homeowner that it is convenient to bring a prospective buyer over for a showing.

Somewhat more restrictive is the method by which the listing REALTOR alerts MLS members that a key to the property will be held at the listing office and a confirmed appointment would need to be made through the office.

The most restrictive method of showing is to require the listing REALTOR be present at the showing. This requires more scheduling between the homeowner, the listing REALTOR and the REALTOR who wishes to show the property to a client.


6. Considering an Offer:
When someone is interested in your property they will make an offer to purchase through their REALTOR. Your REALTOR will take you through this process. Some terms which may be included in the buyer's offer are:
  1. The offer price the buyer is willing to pay.
  2. The mortgage contingency requirements, amount of mortgage they are seeking and the date by which they will receive a written commitment removing the contingency.
  3. The closing date upon which Title and ownership of the property will be transferred to the buyer.
  4. A list of the inspection contingencies and when they will be lifted.
  5. Other contingencies (i.e. sale of home, etc.)
  6. Inclusions and/or exclusions of any "personal property" which may be a condition of the purchase.
  7. The date by which the contract will be signed and the buyer will provide 10% of the purchase price.
Once you and the buyer reach an agreement of the "terms and conditions" for the purchase, an "Offer to Purchase" is prepared by your REALTOR outlining the agreed upon terms. This document is then transmitted to the attorneys for buyer and seller.


7. The Contract Process:
The seller is responsible for having the attorney draw the Contract for Sale which will include the agreed terms and conditions. The buyer will normally be expected to submit an escrow check (made out to your attorney) with the signed contract, usually in the amount of ten percent of the total purchase price. The contract is typically a Greenwich Bar Association contract which will contain every detail and a schedule of inclusions and exclusions as agreed upon by both parties. The Seller Disclosure Form is also delivered as part of this package. After the buyers have signed the contract, it is returned to your attorney with the escrow check. Your attorney will then go over the contract with you and you will sign it.


8. Before Closing Day:
Near to the date of your closing the buyer's REALTOR and the buyer need to perform one last walk-through of the premises. Together they will ascertain that the property is in the condition it was when the Contract of Sale was signed. They will verify the items which were to be included are present. They will determine whether there are any defects visible now which were previously hidden. If any of these are found, you may need to be prepared to adjust for these costs at closing.


9. Closing Day:
You (or in your absence, your power-of-attorney) will attend the closing - primarily to sign appropriate documents and deliver checks for appropriate amounts. Between your REALTOR and your attorney you will be advised of all the costs and fees associated with your closing.


10. Costs Associated with Selling a Home:
Attorney's fee:
  1. Town of Greenwich Conveyance Tax ($2.50 per $1,000 of Sale Price). State of Connecticut Conveyance Tax ($5.00 per thousand up to $800,000 and $10.00 per thousand of $800,00).
  2. Survey Fee: If the property has not be surveyed, the Lender or Title Insurance Company may require a registered survey or plot plan showing the location of the dwelling(s) and the boundaries of the property, as well as easements and rights of way. This might fall on the seller's shoulders.
  3. Adjustment costs paid to the seller at closing (where applicable):
    1. Buyer's share of pre-paid property taxes.
    2. Heating Oil or Gas remaining in tank(s).
    3. Association Dues.
    4. Sewer Service Charge.