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How long do you keep house sale documents

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You should hold onto your Closing Disclosure, deed and promissory note as long as you have a mortgage loan. These documents tell you important information about your loan and property – you may want to refer to them later.

How long should you keep documents relating to real estate?

Keep Home Sales Records for as Long as You Own the Property + 3 Years
HOME SALE RECORDS
Home sale closing documents, including closing statementAs long as you own the property + 3 years
Deed to the houseAs long as you own the property
Builder's warranty or service contract for new homeUntil the warranty period ends

Should I keep old mortgage documents after paying off?

Generally speaking, it's safe to toss out the monthly statements from your lender, but you'll want to hold onto anything relating to the original mortgage contract and terms (the promissory note or deed of trust, the closing disclosure) for at least as long as you own your home.

What papers to save and what to throw away?

Although they're not necessarily financial documents, you should retain Social Security cards, ID cards, passports, shot records, birth and death certificates, marriage licenses, business licenses, and adoption papers indefinitely. Also, keep these financial documents: Records of paid mortgages and deeds.

What documents should be kept for 7 years?

KEEP 3 TO 7 YEARS Knowing that, a good rule of thumb is to save any document that verifies information on your tax return—including Forms W-2 and 1099, bank and brokerage statements, tuition payments and charitable donation receipts—for three to seven years.

How long do you have to keep your paperwork?

To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.

What papers should you keep for 7 years?

Supporting Tax Documents (Keep 3-7 Years) For businesses, supporting tax documents might include invoices, receipts, deposit slips, and payroll records. For individuals, supporting documents might include W-2 forms, charitable donation receipts, and tuition payments.

Frequently Asked Questions

Is there any reason to keep old mortgage papers?

Mortgages come with a lot of documentation. Much of it is useful for tax, accounting and maintenance purposes, so hang onto it.

How long do you have to keep personal receipts?

3 TO 7 YEARS KEEP 3 TO 7 YEARS Knowing that, a good rule of thumb is to save any document that verifies information on your tax return—including Forms W-2 and 1099, bank and brokerage statements, tuition payments and charitable donation receipts—for three to seven years.

How long should you keep documents relating to the purchase and sale of real estate?

Seven years Real estate sale documents should be kept for at least seven years after the date of the sale. I keep my documents forever in the cloud.

FAQ

How long should I keep bank statements?
One year Most financial experts say you should keep your bank statements in either digital or hard copy for at least one year. Once they've been in the filing cabinet (or your computer hard drive) for one year, you can finally shred the paper or press the delete button.
How long should I keep mortgage statements?
To play it safe, you should plan to keep important documents for three to seven years. However, know that you don't typically have to keep every single document. For example, your loved one should have received mortgage statements on a monthly basis. If you find more than one, you only need to keep the most recent one.

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