Which Boston condo sales documents should you keep after buying a Beacon Hill condo? After all, you don’t want to have to file all of it if you don’t have to; but you also don’t want to throw out something crucial.Your closing company is required by law to keep a record of your closing documents, so that’s a good fallback in case you misplace yours. Still, it’s smart for you to keep important documents on hand—particularly if, later on, you need to file a claim against the seller or your professional representation team (i.e., your real estate agent, home inspector, or mortgage lender). Hopefully, that doesn’t happen, but it’s wise to be prepared.

So, of the hundreds of documents you’ll encounter during the home-buying process, here are the ones you should keep if you bough a Boston Beacon Hill condo.

1. Buyer’s agent agreement

When you choose a real estate agent, you sign a buyer’s agent agreement—a contract between you and the brokerage, stating that the agent represents you in the purchase of your Boston Beacon Hill condo.

This agreement outlines the terms of the relationship with your agent—including who pays the agent’s commission (in most cases, the seller), the length of the agreement (90 to 120 days is standard in most markets), and the terms for terminating the agreement.

2. Purchase agreement

Every Boston Beacon Hill condo sale starts with a real estate purchase agreement—a legally binding contract signed by home buyers and sellers that confirms that they agree upon a certain purchase price, closing date, and other terms.s.

3. Addenda, amendments, or riders

These types of documents alter or amend the terms of your purchase contract. For example, if a survey reveals that there’s an encroaching fence built by a neighbor, and you’d like the fence removed, the sales contract has to be formally amended.

4. Boston condo seller disclosures

Sellers are required by law to disclose certain problems with the Beacon Hill Boston condo, both present and past, that they’re aware of that could affect its value. While laws vary by state, these disclosures might include lead-based paint, pest infestations, and renovations done without a permit.

5. Boston condo home inspection report

After your Boston condo home inspection, your inspector should produce a report with detailed notes on the condition of the home and any potential problems.

6.  Boston condo closing disclosures

Mortgage lenders must provide borrowers with a closing disclosure (also called a CD) at least three business days before settlement. This document spells out things such as your loan term (typically 15 or 30 years), loan type (a fixed-rate or adjustable-rate mortgage), the interest rate, and closing costs, among other financials.

7. Boston condo title insurance

Title insurance offers protection against any competing claims to a home. As part of the process, the insurer will run a title search of public records, seeking loose ends such as liens against the property or fraudulent signatures on ownership documents.

8. Boston condo property deed

When you take title and become the sole owner of the property, you’ll receive a deed—a legal document that confirms or conveys the ownership rights to the home,

Typically, the property deed is mailed to you after the title transfer documents are recorded in your county’s public records office.

 

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