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STOP - Don't Pack to Move Without Setting Aside Important Paperwork

By
Real Estate Agent with Long & Foster Real Estate, Inc.

Your real estate connection for Anne Arundel County, Maryland - Home of Fort George G. Meade, Northrop Grumman, BWI and the U.S. Naval Academy

 

Stop - Don't Pack Yet

 

 

Maryland home buyers, this is one of those lessons learned from The School of Hard Knocks:  Find and set aside important paperwork and financial information BEFORE you start packing to move!  I've seen firsthand the unnecessary pressure and tension some of my relocating clients experienced when they failed to do this.

Yes, financing a home is so much easier today than it was a decade ago.  In many cases, through an automated underwriting process, home buyers receive their "ok" within hours of making application.  Sometimes, however, this loan approval requires follow-up with hard copies of documentation before the loan is actually funded.  You don't want to discover this AFTER your important paperwork is packed in one of those 50 boxes in the garage. 

 

Just to be safe, here's a list of important documentation and information* you should find and set aside before you pack or move: 

 

1.  Packing to moveSocial Security number and birth date of each applicant.

2.  Income verification for each applicant (2 most recent pay stubs with year-to-date earnings).  If you are active-duty military, this includes basic pay and all allowances.

3.  Tax information for each applicant (W-2's and tax returns for 2 most recent years).

4.  Employment verification for each applicant (Employers names, addresses, phone numbers and email addresses).

5.  Bank account information for each applicant (2 most recent statements for all bank accounts).

6.  Assets for each applicant (2 most recent statements for IRA's, 409K's, CD's, Stocks and Bonds; if you have individual investments, bring a brokerage statement with name of the stock, number of shares and the amount per share).

7.  Personal property information for each applicant (cars, furniture, retirement accounts, jewelry, valuable collections and life insurance).

8.  Credit information for each applicant (2 most recent statements for all creditors).

9.  Current housing information for each applicant (If you own: address, market value, original loan amount, balance due, monthly payment amount, copy of listing if property is currently for sale; if you rent: copy of lease).

10.  New home information (Receipt for earnest money deposit, copy of purchase contract and listing information).

11.  Gift letter, if applicable (Letter from donor stating amount of gift and that money does not have to be repaid).

12.  Self-employment information for each applicant (2 most recent years profit and loss statements and balance sheets), if applicable.

13.  Divorce/separation information for each applicant (Copy of the divorce decree or maintenance statement and any amendments, 12-month history of child support and/or alimony payments), if applicable.

14.  In-school/student verification (If you don't have 2 years of employment history, you will need transcript and/or diploma to verify student status) for each applicant, if applicable. 

15.  Rental property information for each applicant (For all rental property, you must provide addresses, copies of leases, account numbers, mortgage lenders' names, addresses, and phone numbers), if appicable.

* Source of List:  Freddie Mac

16.  Medical records for each member of the family.

17.  School records for each of your children. 

The last two items were added to this checklist at the suggestion of Mary Ellen Harvley.  John Walters mentioned, in his comment to this post, that he took these items with him when he evacuated for Katrina.  Now that is some food for thought - perhaps we all should gather together our important documents, whether we are moving or not!  Thank you both.

I strongly recommend that you put originals of all this paperwork in a safe place where you and your movers won't pack it accidentally - preferably a fire-proof lockbox.  Additionally, I suggest you bring on your house-hunting trip either photocopies OR a digital record on a CD or DVD, in case your lender needs it.  Then, be sure to keep your original documents with you during your move.

 

RELATED LINKS:

 

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This infoMargaret Wodarmation was provided to you by Margaret Woda, an Associate Broker with Long & Foster Real Estate in Crofton Maryland. Contact Margaret today for general real estate information or to learn how she can help you buy or sell a home in Annapolis, Bowie, Crofton, Davidsonville, Gambrills, and Odenton. 

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Comments (9)

John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana
I did the same thing when I evacuated for hurricane Katrina.  I sure am glad I had my paperwork.
Dec 29, 2007 01:35 AM
Linda Futral
Newnan, GA
Great list and reminder to all.
Dec 29, 2007 01:40 AM
Mary Ellen Elmore
Nunnelly, TN

Another important set of papers that need to be st aside is medical records.

Also, school records for your children.

 Both of these have even more importance if you have a child with specila needs.

I keep all of these papers in a seperate lock box that is fireproof with a set of pictures of all me children (at least one of each birthday portrait) and my grandchildren.

Makes it easy to grab if there ever were an emergency or in a move that goes in the trunk of the car, not the moving van.

Dec 29, 2007 01:43 AM
Nancy Pav
Century 21 Redwood Realty - Ashburn, VA
Nancy Pav, Your "GottaHave" Realtor
You've covered everything a buyer needs to keep handy. Thanks!  There's nothing worse than having to rummage through your stuff last minute.  You've taken the stress out of a potentially stressful situation.
Dec 29, 2007 01:48 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!
Margaret- Welcome back! This is a great post about making a list and keeping your important docs to close on that next home- applies to all states! Thanks! Katerina
Dec 29, 2007 01:54 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Margaret,

Often enough it has occurred that important docs needed to close are in a moving van somewhere!!! No fooling! Thanks,   Fran

Dec 29, 2007 02:15 AM
Julie Neerings~Lifting Hearts ♥ Building Dreams~
Agent Referral - Salt Lake City, UT
Margaret-It's great to see you back.  I have to say, I did miss you.  This post is truly fantastic.  I'm running into this particular situation with a client who wants to sell now and can't seem to find their paperwork.  So now we have to make a run down with everybody to get them on the next step.  It is sooooooooooo important to keep those docs out in the move.  Happy New Year to you and your family!
Dec 29, 2007 04:15 AM
Carol Spengel
Prudential Rubloff - Wheaton, IL
Wheaton IL
Even if your lender says you are approved, don't pack important papers deep in the moving truck.  A client of mine needed their W-2s right before closing and had to pile through a moving van to get to the right box - extra stress during an already stressful time. 
Dec 29, 2007 04:29 AM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

John, what an important thought - Really, everyone should get together important documentation and have it where they could grab it in the event of an emergency, such as you experienced with Katrina or even a house fire.

Linda - Thanks for commenting.

Mary Ellen - You are so right!  If you don't mind, I'd like to edit this post and add those items.

Nancy - Goodness, "rummaging" would barely describe the process, if I had to do it in my house.  My personal things are not nearly as well organized as my business records.

Nestor and Katerina - 'Funny how some of these posts come about - I was writing another "Welcome to..." for relocation buyers and wanted to link to a checklist like this one.  I didn't find what I wanted in a quick blog search on AR, so I had to create this.  Now I can go back and finish the original post.  lol.

Fran, Don't you hate it when that happens?

Julie, My daughter was in town for 5 days, and we spent a lot of time on the road together.  It's going to take me a while to catch up with reciprocating comments but I do want to promptly let you know I appreciate your warm "welcome back."  

Sherry, I can picture it now.  It's so easy to "trust" you loan approval as the last word, when the last word doesn't occur 'til settlement is over!

Dec 29, 2007 04:39 AM