At the end of your home closing, a large stack of papers sits in front of you. How do you know which ones to file away for future use?
To make your job of sorting through the papers a little easier, here are a few "be sure to save" items.
1. Truth in Lending statement: This handy paperwork helps to summarize the details of your mortgage, including your percentage rate.
2. Insurance: Not only does it serve for proof of coverage, but just in the case you need to make a claim, you will have contact and coverage information on hand.
3. Deed: This paperwork proves that the property has "indeed" been transferred to your ownership.
4. Riders: These are sale contract changes (amendments) that affect you directly.
5. HUD-1 Settlement Statement: This is a great itemized list of your closing costs. It will be especially important for when it comes time to pay income taxes.
Be sure to keep all of your paperwork in an organized filing system and in a fire-proof safe.
For a more in-depth list of items to keep, talk with your lender and real estate agent.
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Michigan Land Brokers is the premier brokerage specializing in waterfront, vacation homes, residential homes, camps, cottages, and vacant land of all types throughout Northern Michigan’s Upper Peninsula. Visit our website www.NorthernMichiganLandBrokers.com for a preview of the services we offer.
This item was created by the source, which is solely responsible for its content.
Northern Michigan Land Brokers is the premier brokerage specializing in waterfront, vacation homes, residential homes, camps, cottages, and vacant land of all types throughout Northern Michigan’s Upper Peninsula. Located in Marquette, we buy and sell real estate and can help you buy or sell real estate. As the premier land company in the region, we provide buyer and seller representation in addition to the sales of our own property. If you dream of Lake Superior, wild rivers, pristine lakes, rolling hunting and timberland, log cabin homes, or beautiful building sites, our professional agents will assist you from start to finish. As a full service brokerage with Multiple Listing Service membership we also have agents who specialize in residential, commercial, investment and land consultation.
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