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Commonly Asked Questions about Home Purchase Documents

Closing costs are a complicated but important part of the real estate process, and its important you understand them to minimize stress and surprises. When you sell your home, you will need to hire a notary or lawyer to represent you in your transaction and facilitate completion.
Youll also want to keep the original documents in a safe place, as you might need to provide them when you later sell the house, have to make an insurance claim, or are in another situation where you need to prove ownership. The most important originals are the purchase agreement, deed, and deed of trust or mortgage.
A purchase agreement is a legal contract between a buyer and a seller. It describes the circumstances of the sale, including the property being sold and the agreed-upon purchase price. It fulfills three main purposes: It identifies the property the seller is selling.
These includes documents like: Offer Letter or Reservation Form. This is a document expressing interest by a buyer to purchasing a property. Sale agreement. This is the second document needed when purchasing land. Title transfer document.
A deed for a house sometimes known as a property deed is a written document, typically drawn up by a real estate attorney, that moves property ownership from the seller (grantor) to the buyer (grantee). House deeds are important because they show who has legal ownership interest in a property.
The most important originals are the purchase agreement, deed, and deed of trust or mortgage. In the event originals are destroyed, you might be able to get certified copies of these documents from the lender or closing company, but you dont want to rely on others recordkeeping systems unless you have to.
10 Documents Needed to Buy a House Personal identification documents: You will need to have a valid form of ID such as a drivers license or passport. Proof of income: Financial statements: Loan documents: Purchase agreement and related contracts: Property-related documents: Deed: Settlement statement:
However, the most important documents in real estate are offers, agreements, and contracts between the buyer and seller.