Often when I meet with a home seller and ask for specific documents, I find they threw some or all out after closing. I personally have kept the paperwork on every house I've purchased even if I don't own it anymore. Below is a list of what the home buyer should keep after closing:
1. HUD-1 also called the settlement statement. It's the balance sheet that itemizes what the buyer pays for and what the seller pays for. Some of the buyers costs may be deductible from your income tax. Check with a tax specialist or consult the IRS Web site - http://www.irs.gov
2. Truth in Lending Statement. This comes from your lender and includes the terms of your loan.
3. Note. This is the mortgage obligation and terms for repayment.
4. Deed. This is the instrument that transfers the title (ownership) to you.
5. Riders. Amendments to the sales contract. These may effect your rights.
6. Title Insurance Policy. This is the document that insures the title to the property is free and clear. An attorney told me this is the document you should keep even after you sell a home in case there is a dispute about ownership at some point after you sell.
7. Survey. This is the certified line drawing of the property from bird's-eye view showing where the property lines are, where the home is on the property, easements, building setbacks, fences, etc. In Texas buyers are allowed to reuse a survey if nothing has been changed that would effect the survey and pending approval from the title company.
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