Connecticut, USA is one of those American states that have long been accustomed to replenishing their the local budget, while maximizing the financial capacity of such a tax instrument as the corporate income tax. According to the established tax tradition, the rate of such a tax for the state of Connecticut, USA is one of the highest in comparison with similar indicators for other states.
What should you understand for yourself initially regarding the peculiarities of the current mechanism for acquiring real estate in Connecticut, USA?
The contract form of work is what unites all intermediaries in the real estate market. This includes both the relatively few large title companies and the more widespread and more highly specialized real estate agencies. You will certainly come across at the final stages of your «epic» on buying real estate with the fact that the contract of sale and purchase of housing will stretch for at least fifteen pages, but commercial real estate (which, however, is quite logical) surpasses its aforementioned competitor, swinging already by dozens of contract pages. However, this leads the thoughtful buyer only to the idea that not a single detail will escape his attention. Therefore, choosing an intermediary for the sale and purchase of real estate is the highest security category.
It should be stipulated for clarity, in order to have a correct understanding, the functions of the real estate agent and the representative of the title company separately. If you want to find a suitable property for the purpose of purchasing it or complete any other actions classified as the property of that area of interest, which is commonly referred to as «product marketing (in our case, real estate)», then you should contact the agency for real estate trade. If you managed to do all of the above on your own, then you should contact the title company of Connecticut, USA for the final paperwork. The state, represented by local state bodies, will only be able to enter data on the transaction into its state register at the conclusion.
If your goal is a transaction to purchase real estate, but you do not have the opportunity to come to the territory of Connecticut, the United States (and is unlikely to be foreseen in the near future), then the option that you need is the option of a remote transaction, which is widely used in practice. True, to legitimize this event, you should pay a visit to the US embassy (as an option, consulate) in order to issue a power of attorney in advance for the agent who, according to your preliminary agreement with him, will assume the role of your authorized person.
As for the original form of the power of attorney itself, it can be obtained by mail. Cash settlements when using the remote transaction form should be carried out using an account such as a trust account. Resetting the trust account will mean the completion of the sale and purchase of real estate and the seller has received the amount due to him from you. How can all possible risks be minimized in the case of a remote transaction? Perhaps there is only one legally provided, but a very significant guarantee — you should make sure that your potential agent has the appropriate license. The essence of the issue, from the federal point of view of the US state, lies in the fact that in the event that an agent loses a license through mistrust, it is almost impossible to get a new license in return, since such a concept as reputation enters the legislative field.
We note for your information a potential investor that you will need to open an account in one of the banks in Connecticut, USA, not in any case, but only if you decide to use mortgage services. Since no one has canceled such an option as cash payment in the state, it is easy and simple to pay the seller of the property (if provided by the contract) in this way.
the amount that can, in the event of the successful completion of the transaction, cover the required deposit. Further, such a convenient mechanism as a bank transfer comes into play, and the procedure for paying for the transaction is considered closed by you. Therefore, take note of the fact that there is no need to import all the money that will go to complete the purchase of real estate. Moreover, let us briefly note that there is a slightly different need — the need to reckon with the requirements of anti-terrorism legislation (if you do not want to become a «hero» as a result of unnecessary financial interest shown in you by the US authorities).
