What documents should I keep when buying a home?

When buying a home in California, it is important to keep several documents in order to ensure that the transaction is legal and sound. The first document to keep is the purchase agreement, which outlines the terms of the sale and the responsibilities of each party. It should include the purchase price, date of possession, length of the closing period, and the manner in which the closing costs will be paid. Additionally, the agreement should specify who is responsible for obtaining any necessary inspections or repairs. The second document to keep is the deed to the property, which conveys legal title to the buyer. It should include the names of the parties involved in the transaction, the legal description of the property, and any restrictions that may be associated with the property. The third document to keep is the title insurance policy. In California, title insurance is typically obtained by the buyer in order to protect against potential liens, defects, or other problems with the title of the property. It should contain information about the title company, the liability limits, and the details of what is covered by the policy. Finally, the buyer should obtain a copy of the preliminary title report, which outlines any potential defects or liens on the property. This report should be kept on file in case any problems arise with the deed or title. By keeping all of these documents safely stored, the buyer can ensure that they are legally and financially protected throughout the purchase process.

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What documents should I keep when buying a home?

What documents should I keep when buying a home?

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