What to Keep

Closing Documents You Should Keep

On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here’s a list of the most important documents you should file for future reference.

Master Settlement Statement

Master Settlement Statement

Itemizes all the costs — commissions, loan fees and other closing costs, pro-rated items such as taxes, HOA capital contributions if applicable, etc. that are associated with the closing.

Truth in Lending statement

Truth in Lending statement

Summarizes the terms of your mortgage loan, including the annual percentage rate and recision period.

Mortgage and note

Mortgage and note

Spells out the legal terms of your mortgage obligation and the agreed-upon repayment terms.

Deed

Deed

Transfers ownership to you.

Affidavits

Affidavits

Binding statements by either party. For example, the sellers will often sign an affidavit stating that they haven’t incurred any liens since the agreement was made.

Riders

Riders

Amendments to the sales contract that affect your rights. Example: The sellers won’t move out until two weeks after closing but will pay rent to the buyers during that period.

Insurance policies for the property

Insurance policies for the property

Provide a record and proof of your coverage.

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