5 Most Important Documents to Keep After Buying a House

Buying a house can become overwhelming when trying to keep track of all the paperwork. The following are the 5 most important documents to keep and have handy after buying a house.

1. Deed: A document giving the holder the title to property. More generally, any document sealing an agreement, contract, etc. Deeds are used to determine who owned a property at a certain time.
 

2. HUD: The HUD-1 is a form used by the settlement agent (also called the closing agent) to itemize all charges imposed upon a borrower and seller for a real estate transaction. It gives each party a complete list of their incoming and outgoing funds.

3. Plat Map: A map representing a piece of land subdivided into lots with streets, boundaries, easements and dimensions shown. It is usually recorded and made part of the public record.

4. Deed of Trust: a document which creates a security interest in real property, usually used as collateral for a debt or loan. If the borrower fails to repay the debt as promised, the Deed of Trust can be foreclosed on to repay the debt.

5. Home Warranty Information: A Home warranty is a service contract that covers the repair and replacement costs of home appliances. The warranty generally covers equipment and appliances such as dishwashers, plumbing systems, electrical systems etc. that fail due to normal wear and tear.