12 Things Every Transaction File Should

Here’s one practitioner’s list of items to include in every completed sales transaction file.

1. Listing agreement, including comparable market analysis

2. Signed or acknowledged agency disclosure form, if applicable

3. Property condition disclosure form, if applicable

4. All marketing materials, including newspaper ads and printouts of online listings

5. Relocation or referral information, if applicable

6. Correspondence and phone logs with buyers, sellers, and other parties to the transaction

7. Inspection reports, if applicable

8. Lead paint or other hazardous materials disclosure forms, if applicable

9. Copy of purchase contract and addenda

10. Copies of invoices for any repair work completed that was required for the sale

11. Settlement statement (HUD-1 Form), if available

12. Escrow account records relating to the transaction

TIP: To make it easier to retrieve documents from your transaction files, create individually labeled files for key items such as the listing agreement, purchase contract and inspections, plus separate ones for notes.

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