I just closed on my home. Which documents should I keep?
Plan on keeping these documents forever, or until at least a few years after you eventually sell your home. If you ever need to reference the information or file a claim, having access to these documents can save you time and money.
Deed: This document is filed at the county recorder and becomes public record so you can always obtain a copy from the recorder's office or from a title company. However, you're better off making a copy for your own records to save you from the leg work of acquiring your deed if you ever need it. The Deed explains how you hold title, the name of the sellers giving you title and the property's legal description
Promissory Note and Mortgage: This is an especially important one because you won't have access to this information until the loan is paid in full unless you keep a copy for yourself.
Purchase Agreement: This is the contract to buy the home with all the terms and conditions signed by you and all parties in the transaction.
Seller Disclosures: Information on material facts of the home, the lead-based paint disclosure, the radon gas disclosure, the transfer disclosure statement, and any other written guarantees or disclosures the seller provides. If for whatever reason you have to file a lawsuit against the seller, these documents will be vital to your claim.
Home Inspection Summary: Outlines which items are in good condition and which are in need of repair or replacement. This document should include photos of the home before you purchased it. This may also include information on the termite (or other pest) inspection.
Home Warranty & Insurance Policy: Should include information on what is (and is not) covered under these policies. You can use this document to find contact information for the company issuing the policies.
Title Policy: Contains the name of the title company, the dollar amount of title insurance, date of issuance, exceptions to coverage and policy number.
Closing Statement: Contains all the official charges and credits of your home purchase including the sales price, your cash to close escrow, your loan amount, and all of the other costs paid through escrow to settle the sale, including credits and prorations. You will need this document to file your taxes because some items may be tax deductible. Give this document to your tax preparer.