The 8 Documents San Diego Homeowners Have to Keep Or They Will Regret It Later

New San Diego homeowners may be overwhelmed with the amount of paperwork they have.  From information on the many houses they viewed to paperwork on their loan, there is no shortage of documents to sift through.  The trick is learning which documents are important and which ones can be tossed in the bin.

With that in mind, there are eight documents that San Diego homeowners must keep or they could be in hot water down the road.

Real Estate Agent Documents

Any buyers that used a real estate agent to buy their San Diego home will have a buyer’s agent agreement.  This agreement outlines what the agent has helped the buyer with and shows that they were representing the buyer during the sale.  

There are different pieces of information that are found in this agreement that are important.  It shows who is responsible for paying commission. Many times this is the seller’s responsibility unless discussed otherwise.  It also shows how long the agreement is good for and what happens if the buyer backs out of the agreement.

Agreements With the Seller

Buyers should always know what is being agreed on when buying a San Diego house.  This comes in the form of a real estate purchase agreement. This agreement is between the buyer and seller and it shows what price they are purchasing the home for, when the purchase will close, and other specifics to the sale.

Keeping this agreement will help a buyer if a seller changes any specifics of the sale without first checking with the buyer.  If anything in the purchase agreement is not followed, the seller could be in legal trouble.

Changing the Agreement

Few people get it right the first time.  During an inspection or an appraisal, it is likely something will come up that a buyer wants the seller to fix or alter.  In this instance, there must be an addendum or amendment on the purchase contract.

Disclosed Information

Every buyer’s nightmare is missing a major problem that should have been disclosed to them at the beginning of the process.  When a seller discloses a piece of information to the buyer like past pest infestations, the presence of lead paint, or any other major problems they will have a seller’s disclosure. This disclosure should be kept handy in case there is a problem after moving in.  

For example, a seller may claim there is no lead paint in the San Diego house and later the buyer finds out this is not true.  This paperwork will prove any bad intentions on the part of the seller to trick a buyer into making a purchase.

The Inspection

A home inspection report is a great tool.  It outlines the problems that can be found in a house, big and small.  San Diego homeowners should reference this inspection report when they are deciding what to fix on the home.  

The Closing Disclosure

This is one of the most important pieces of information a buyer will get from their lender.  A closing disclosure has all of the information about their mortgage that San Diego homeowners will need.  This outlines what type of loan they will have, for how long, what interest rate they will be paying, and other financial details that surround closing the loan.

Protecting the Title

There is title insurance that San Diego homeowners should consider purchasing.  This insurance starts by searching for any problems that are tied to the title. Anything that comes up should be taken care of before closing on the loan to avoid problems in the future.  Without this insurance past owners may try to stake a claim on the house.

Deed

The final document that San Diego homeowners have to keep track of is the deed.  The deed is a document that shows who owns the San Diego home. This document is signed by the buyer and the seller at the time of closing.  Most San Diego homeowners have the deed mailed to them after the process is complete.