A reader asks: "After closing the deal on purchasing my new home, what documents should I keep? Should they be originals and certified or are photocopies OK? Currently I have only photocopies of everything, but some of the signatures were not even completed. Should I be worried and start collecting all of my original paperwork such as my owner's policy, deeds, affidavits, etc? I don't know what I might need in the future."
Answer: You should maintain a completed file after closing on your home, which means collecting copies of every document that was signed during your transaction with the seller. You don't really need originals, but you should have fully executed documents with all parties' signatures. You should consider keeping these documents for at least a few years after you eventually sell your home. For some who will never sell, that means indefinitely.
Your real estate agent should be able to give you a copy of the transaction documents because real estate brokers are required to keep a file on each buyer and seller. However, closing documents are typically kept by the closing agent, lawyer or escrow officer. This paperwork is separate from the documents associated with contract negotiations and will include financial and legal documents.
The deed and mortgage documents are filed at the county recorder and become a public record, meaning you can always obtain a copy of those documents from the recorder's office or from a title company.
Closing Documents to Keep as Photocopies After Home Buying
The main reasons to keep the following documents are for future reference -- meaning for your own review -- or in the event you need to file a claim, either against the seller, your professional representation team or contractors.
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