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Keep these home closing documents in case a legal issue arises

On Behalf of | Apr 26, 2023 | Tampa Real Estate Attorney

You will complete a mountain of paperwork by the time that you close on your home purchase in Florida. At the time, you will be focused on getting the keys, but you should store the records of the transaction in case you need to refer to them later during a legal dispute. Many concerns related to a property purchase will involve either an issue with the seller or a title problem.

Seller disclosures

The law obligates sellers to inform buyers about the condition of the property, including negative issues like lead paint. Your real estate agent will show you these disclosures. You may also receive other written warranties about the property. Keep all of these documents because they will be critical evidence if a problem emerges and you need to seek damages from a seller for failing to disclose a problem.

Purchase agreement and amendments

The original purchase agreement describes the terms of the transaction. As the transaction approaches closing, you and the seller might execute one or more amendments to fix typos or resolve additional issues. Your real estate agent can provide you with copies.

Title policy

Your title policy provides critical protection if a lien or other claim on your property comes to light after you become the owner. Keep your title policy for the duration that you own the property.

Home loan documentation

You will sign many documents at closing for the loan. Out of all of the documents, the closing disclosure, mortgage and promissory note hold the most importance.

You can request a copy of all completed closing documents from the escrow agent that settled the sale. The copies of executed documents normally come as a digital PDF file. You could store the records on a compact disc, or you could print them.