#How to store house closing documents how to#

However, youвЂ™ll definitely want to keep proof of any loans, mortgages (also called deeds of trust), and deeds in your name that have been paid off and recorded among the land records in the state or county where the property was sold.ДЄ вЂњreleaseвЂќ or вЂњcertificate of satisfaction,вЂќ indicating that the paid mortgage was recorded properly, will suffice. вЂњEven Millennials, they still like having that paper copy as well.вЂќ At a high level, make sure youвЂ™ve got proof of any mortgage payoffsДЄside from what youвЂ™ll need for your taxes (weвЂ™ll get to those shortly), you donвЂ™t have to hold on to every record associated with a property indefinitely once you no longer own it. вЂњEven though a lot of our storage is cloud-based, I just find itвЂ™s really helpful for them because a lot of times, people donвЂ™t even remember where they catalog it in their cloud storage,вЂќ she added. вЂњWhen I have buyers or sellers, I do keep electronic records, and I send all documents to my clients electronically, but I also encourage people to keep paper copies,вЂќ said Randi Beard, a top-selling real estate agent with 10 years of experience in the Asheville, North Carolina, area. Source: (Allie Lehman/ Death to the Stock Photo) Are electronic records an option? The answer is yes, butвЂ¦

#How to store house closing documents how to#

Imagine: some real estate transactions call for roughly 180 sheets of paper, generating a sizable pile, plus hand cramps from all that signing.Д«ut how long should you keep records associated with a loan and your property once you sell? Three years? Ten years? Forever? Before you start your вЂњkeepвЂќ and вЂњtossвЂќ piles, hereвЂ™s an overview of which documents are essential and how to be smart about your home sale record storage. As society becomes more paperless, itвЂ™s hard to think about holding on to all the documentation that goes along with your home-especially once you sell your house.