Buying A Home: Hey save all those purchase documents!

If you are going to buy residential real estate then you need to become as familiar with the process as you can. You also need to get organized and that means learning how to create a paper file that will support your side of the deal if after the deal is done it becomes undone. Paper is what will help protect you in the event you bought a house of cards or the proverbial money pit. So let’s discuss how to get organized.

Whenever you purchase a home you should start off organized and even after the sale is indeed done, stay organized by saving all the sale-purchase documents in a file folder.

Figure out which of you is better at organization and make it their job to keep the documents complete and available. That way there is no discussion later on about thinking the other was saving "those documents". Here are the tools you need.

1. Create a file folder with the address or name of your neighborhood.
2. The file folder should have multiple sections so you can divide the contents.
3. One section should be for what your agent gave you and another for what the sellers handed out.
4. Using a 3-ring binder, save all the owner manuals for the appliances and systems in the house.
5. In the home owner’s folder save all those purchase documents you were given, and especially the Iowa Residential Real Estate Disclosure Form.
6. Save the home inspection.
7. Save the real estate agent's business cards.
8. Pick up any business cards left on the counter, because they could later on become witnesses in your case.
9. Before closing make sure all the documents were signed and dated. Don't leave the closing without signed documents.
10. Keep a copy of the offer and acceptance forms that are exchanged.
11. Keep a copy of the sale’s brochure and materials.
12. At the closing require not just keys but owner manuals and if available copies of the purchase invoices for the various appliances.
13. At the closing require a list of vendors who have regularly serviced the real estate. (The plumber, pool company, heating & cooling company, roofer, siding, gutters, lawn irrigation company, electrician, etc.) You want to know who knows your home’s systems and how they work.

So get organized and stay organized. 

HOW TO CONTACT US

The Lombardi Law Firm

5000 Westown Parkway, Suite 440

West Des Moines, Iowa 50266

Telephone: 515-222-1110

Fax: 515-222-0718

Write to Steve or Katrina

Email: sdlombardi@aol.com  or katrina.schaefer8@gmail.com