Now, Where Did I Put That Paper? The Importance of Documentation

September 4, 2012

A common obstacle buyers and Realtors® face at the closing table is that of improperly filled out or lost documents. Many lenders, through changing mortgage documentation, last-minute denials, contract cancellations, lost or misfiled paperwork and rating requirements have caused both buyers and Realtors® alike to lose faith in the organization of these institutions. Smart Realtors® and savvy buyers will take this into account and have a “Plan B” at the ready, in order to ensure expediency in closings.

Keep copies of all pertinent paperwork collected in one safe place where you can access it easily. If possible, make duplicates of each document and give them to your Realtor® for safekeeping. Know your credit rating and if possible, obtain pre-approval to keep your closing running as smooth as possible. With a little extra effort, someone else’s lost papers don’t have to be your problem!