After Home Closing, Which Documents Should Be Kept?
Elizabeth Weintraub is a nationally recognized expert in real estate, titles, and escrow. She is a licensed Realtor and broker with more than 40 years of experience in titles and escrow. Her expertise has appeared in the New York Times, Washington Post, CBS Evening News, and HGTV’s House Hunters.
Homebuyers sign an enormous, intimidating pile of documents at closing. The loan paperwork alone can total hundreds of pages or more. Many of these documents are for the lender’s benefit. They want to avoid potential future lawsuits.
You might not have room to store all this paperwork after closing, but you really should maintain a completed file. This means collecting copies of all the paperwork was signed during your transaction with the seller, from beginning to end.
You’ll want to keep these documents for future reference-for your own review, or in the event that you have to file a legal claim against the seller, your professional representation team, or contractors.
You don’t necessarily have to have originals, but you should at least have copies of fully-executed documents with all parties‘ signatures.
Where to Get Copies?
Your real estate agent should be able to give you copies of the transaction documents because brokers are required to keep a file on each buyer and seller.
But closing documents are typically kept by the closing agent or escrow officer. This paperwork is separate from the paperwork associated with contract negotiations, and it will include financial and legal documents.
The deed and mortgage documents are filed with the county recorder and these become public record. You can always obtain copies of these from the recorder’s office or from a title company.
Most documents are digitized in some form, especially those related to the transaction. Weiterlesen →
