More than just real estate

Buyer 101: Necessary Paperwork

Buying a home is one of the most exciting times in a person’s life. However, when it comes to the amount of paperwork that goes into searching for a property and securing a loan, it’s no surprise that process can be daunting. But, don’t get discouraged by your documents – from the initial listing documents, all the way to the closing contracts – keep all paperwork filed in an organized fashion to ensure a successful and manageable home purchase.

Buying a new home creates quite a paper trail, which can be overwhelming for first-time and repeat buyers alike. Enlisting the help of a Realtor, mortgage specialist and other professionals can make it easier to navigate and organize documents that really matter.

Consider the following pieces of paperwork advice:

  • Getting started. Much of the paperwork you will need to gather is personal information from the recent past. You’ll need tax returns or W2s from the past two years, a recent pay stub, asset statements, and employment history. Provide ample time to request documents from the source and check them for accuracy.
  • Streamline and simplify. Even before you start pounding the pavement, you will accumulate listing sheets, snapshots, and contact details, among other information on prospective new homes. Start a house hunting file that separates the material into easier-to-sample sections, such as “Need to Visit,” “Potential,” and “No.”
  • File it away. The process of filing for a loan brings a great deal of paperwork, from tax information to estimates to sundry mortgage documents. It is essential to make copies of everything while staying organized. Find a safe, yet accessible, place to store all the information over the short and long term.

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