Organise Your Real Estate Documents For Maximum Clarity
Managing and organising property documents can be a humongous task. From legal documents to deeds and other paperwork, it can be overwhelming for a person to know how to best organise and store these documents. Yet, all these papers need to be stored carefully to prevent any legal issues in the future.
Now that you have bought your 1 BHK luxury home in Thane, we help you understand the best way to organise all your real estate documents.
1. Sort the Documents
At the start, you are likely to have a ton of documents. From the beginning of the purchase process and home loan till the time of possession, every stage involves paperwork. Initially, it is wise to keep everything but once you have bought your residential property in Mulund and taken possession, you need to start sorting the required documents from the extras. Here is what you should hold on to.
Policy of title insurance
Fee and agent agreements
Property purchase agreement and seller disclosure
Additional documents required by a particular state
2. Get an Organiser Folder
Once you know which documents you need to store, keep them in a separate folder with organised tabs and label each tab. In the case of multiple properties such as a 3 BHK residential apartment in Thane and a luxury 2 BHK in Mulund, make separate folders for each property to avoid any confusion. After a few years, you will not remember which document is located where and this will make it easier for you.
3. Make a Backup
You will need to store all physical documents that have been signed or notarised. It is advisable to get copies of each of these documents and make a complete backup folder of all your properties. Be sure to store the backup folder in a different location than the primary folder for additional safety.
4. Go Digital
A lot of your real estate documents will likely be in paper form. However, this does not mean you should not take advantage of this digital era. All documents should be digitised and stored online. A major advantage of digital storage is that you can manage organised folders easily and create multiple backups.
5. Organise Your Documents Timely
The best way to keep your documents in good order is to organise them at every stage. Instead of stockpiling all documents in a drawer where they can get mixed up, store all the documents of each phase in an orderly manner. Finally, once you have taken possession or sold your property, be sure to store all relevant documents timely.
Property documents need to be carefully stored to prevent any legal concerns in the future. Often, people either do not realise which documents are important to store or do not organise them efficiently. This makes it difficult to access the documents when needed or can even cause them to be thrown away or misplaced accidentally. By organising your real estate documents correctly, you can prevent any future legal concerns.