Important Real Estate Documents to Keep in a Safe Place

As long as you own your home, here is a list of important real estate documents you’ll want to keep in a safe place:

1. Property deed: keep it for as long as you own the property.

2. Closing statements: keep statements for three years after your purchase to show capital gains.

3. Home improvement: some remodeling projects can reduce a potential capital gains hit when you sell your property, so save your receipts and consult your accountant.

4. Warranty information: keep until the warranty expires.

5. Loan papers: keep until paid off or refinanced, or in the case of mortgages that have tax-deductible interest, keep them for three years.

6. Insurance policies: keep until the policy expires.

7.Receipts or statements: save credit card receipts and/or checking account statements or cancelled checks for all major purchases such as appliances, furniture, antiques and art

When you sell your home, you’ll usually be required to submit a disclosure form. Receipts for major home improvements like a new roof or remodeling project can help you complete disclosure forms and substantiate the good condition of your home.

A bank safety deposit box or fireproof safe is the best place to store your important documents. Be sure to save an up-to-date household inventory, complete with appraisals, receipts and photos or a videotape for insurance purposes in case of loss.

Please call or send us an email if we can provide you with an updated home evaluation for insurance purposes.