After settlement, Which Documents Should I Keep?

Discussion in 'The Buying & Selling Process' started by vira17, 27th Feb, 2017.

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  1. vira17

    vira17 Member

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    Hi All,

    After settlement of my new home, what documents should I keep? Currently I have the contract of sale that the seller's agent provided during initial inspections, the loan papers and the final settlement letter from conveyancer. What all paperwork do you guys usually keep?

    Should I ask the conveyancer for the receipt of the stamp duty? What all documents should I collect from the conveyancer other than the final settlement letter? I understand that the title deed stays with the bank and the bank registers it in a month or two. Should I get a copy of the title deed from Land and Property Information?

    Regards.
     
  2. bunkai

    bunkai Well-Known Member

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    Slight segway but I like the idea of maintaining the title deed with the bank even when you have paid off the mortgage to reduce the chance of theft.
     
  3. tobe

    tobe Well-Known Member

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    That's about it. Pop it in the draw under the crap drawer in the kitchen or on top of the fridge.

    I've never seen a receipt for stamp duty. I think the settlement letter is as good as it gets.
     
  4. Perthguy

    Perthguy Well-Known Member

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    I keep all of it!
     
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Keep it all because you never know when something may bee needed for a legal dispute, for tax, to clarrify something - not many joint purchases know whether they own as joint tenants or tenants in common for example./
     
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  6. vira17

    vira17 Member

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    So, other than the final settlement letter from the conveyancer and the loan papers, there's nothing that important that I need to go after?
     
  7. Do Androids Dream

    Do Androids Dream Well-Known Member

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    Keep it all in a folder, it's good practice for business and tax filing purposes, or if you need to refer back to something. For example, how long your IO period is :D

    I'd also scan your documents to a portable drive and email yourself a back up copy in case of a fire.
     
  8. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    That's pretty much it.

    If you've got multiple properties then consider starting a hard copy folder for each.

    Cheers

    Jamie
     
  9. Stoffo

    Stoffo Well-Known Member

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    All great and recomended idea's
    I bought a 4hr fireproof safe also