Buyers and Sellers Keep Copies

Whenever buying or selling property there will be a lot of paper generated during each transaction.  First, there will be paperwork generated between you and your realtor.  Some of this paperwork is required by your state in order to conform to the laws of the state.  Remaining paperwork between you and your real estate agent will be to define the agreement between you and your real estate agent.  Second, there will be paperwork generated by your agent concerning offers/contracts on properties.  All documents need to be fully completed, sign and dated, otherwise, there could be future problems develop from an incorrect document.  Third, closing the transaction is normally done at a title company or a lawyer's office; this will generate a large amount of paper.  Once all these papers are signed by both the buyer and seller, and the money has be received by the title company, ownership of the property is transferred.  Normally, the closure at the title company or lawyer's office will bind all the final papers for both the buyer and seller.  It is my recommendation; especially if you are the buyer, store this document in a safe for as long as you own the property.  At some point in time, you will need to access this document for information and proof.   It is imperative that both the client and real estate agent save a copy of all documents created during the transaction process.  Also, it is the real estate agent duty to provide a copy of all documents generated during the transaction prior to closing to their client.