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Video Guide on Real Estate Transaction Legal Documents management

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Commonly Asked Questions about Real Estate Transaction Legal Documents

Youll need a variety of documents in order to sell your home. Some of the most important include your mortgage loan documentation, mandatory disclosures and the deed.
The common law has for decades imposed duties on sellers of real estate, particularly residential real estate such as homes, condominiums, etc., to disclose to the buyer any material facts known to the seller affecting the value or desirability of the real estate being sold.
A real estate sale involving financing typically contains at least three main documents; the loan agreement, a promissory note, and a mortgage instrument or deed of trust.
The deed includes the name of the buyer and seller and a detailed description of the property. Most importantly, the deed must contain proper legal language that conveys the transfer of 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.
Transaction documents refer to records that log every transaction you make in your business. This includes purchases, deals, and contracts. It is recognized by the law as any agreement made between two parties or more. It has many types, and the most common one that many people know is an invoice.