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Why it is important to maintain your real estate documents

Why it is important to maintain your real estate documents

We’ve all dealt with our fair share of leases, invoices, closing documents, and bills. The problem, however, is that at some point in life, you might need access to all of these files and documents – together. Be it for a mortgage application or for a property transfer, real estate documents are important. 

Below, we have compiled a list of reasons why you should organise your real estate documents.

Proof for Buyers

Buyers of a property are generally very sceptical about everything pertaining to the property they are considering. They need to know about even minute details pertaining to the property from renovations to leases. None of this is convincing enough verbally. It is, therefore, always a good idea to have a properly maintained set of documents as evidence to show to any buyers of your house or property. Following document for Ontario Gas Station Property should be kept for records

  1. Fuel Delivery/purchase receipts.
  2. All Conveneince Store purchase receipts 
  3. POS monthly records must be kept 2 copy at the end of te month.
  4. Tank maintinance documents.
  5. Record of Utilities bills.
  6. Insurance policy and other contracts.

Make an Impression on the Lenders

Lenders of mortgages are generally very critical when it comes to mortgage applications. To top it off, most people come with a pile of unorganised documents which often have important files missing. You need to more Organize For Ontario Gas Station Financing.

One of the easiest ways to make an impression on a lender is by bringing an organised folder of all of the documents you could possibly need for the approval of your mortgage application. Since lenders are looking for responsible individuals, bringing along a properly maintained set of documents is one of the best ways you can make a great first impression on your lender and substantially increase your chances of landing a mortgage.

Which documents should I organise?

Making a checklist is the most important step before you begin to organise your real estate documents. You must ensure that anything related to your property is in the same place. This means that all floor maps, leases, invoices, home inspection reports and payment receipts are properly maintained.


Why it is important to maintain your real estate documents

You can then use a separate folder to maintain all of your different types of documents. If it isn’t possible for you to separate all of your documents, you should ideally aim to put all of your taxation and acquisition documents in separate, well-maintained folders since they generally consist of a large number of files.


To learn more about real estate documents, contact Nav Sidhu.