Selling your home is a big decision with a lot of other decisions that come along with it. One of the biggest decisions when selling your home is whether you should try to sell it For Sale By Owner
Home Ownership Documents to Keep
When you buy a home, a car, or anything else, you need to figure out which documents you need to keep. When you buy a home, there are so many documents and you can get confused figuring out what to save and what you can get rid of. Here are some documents you should hold on to in case you need them.
- Purchase Agreement: This document outlines everything that the buyer and seller agrees on for the purchase of the home. This includes the purchase price, anything that the sale includes, and other legally binding specifics. Keep this document because each party needs to stick to the agreed upon terms.
- Buyer’s Agent Agreement: This is an agreement you have with your agent. It outlines what the agent is going to do for you throughout the home-buying process. You should hold onto this document in case something turns up after the transaction is complete.
- Addenda, Amendments, and Riders: These are forms that get added onto the contract as the home-buying transaction processes. Sometimes it is something from the home inspection, sometimes it is for something like moving a fence line. Keep these in case something doesn’t get done like it should.
- Home Inspection Report: The home inspection is performed prior to closing. From outlets to roofing, this report determines everything that is wrong with the home. This is a great thing to keep for a few different reasons. First, if you ask for something to be done on the home, and it isn’t done, this document will be needed. Second, if there are items on the inspection you chose not to have completed, you can use this list to do the repairs yourself.
- Seller Disclosures: This is a form that can tell you anything the home seller thought was wrong with the home. If you don’t have this form, and you find something in the future that should have been disclosed, you won’t be able to take action against the seller.
- Closing Disclosures: This document tells you all about the home loan. It will lay out everything you need to know about your loan. If you misplace this, you will have a hard time filling out everything you need for your taxes.
- Title Insurance Policy: The title insurance policy protects you from any future issues with the title that may come up. The title will be examined prior to closing by the title company, and any issues should be found during this search. If anything does appear, you will need this document to make sure you aren’t responsible for any discrepancies.
Be sure to keep your documents after your home purchase! If you are considering buying a home, let me help you through the process. Call me at (301)529-9573.