Statute of Limitations
for Deals

How long do you need to retain your files for closed deals?

Barring fraud, the statute of limitations for raising a complaint following a transaction is two years.

So, it’s (well past) time to chuck paperwork and notes for those 2004 sales I’ve been hanging on to.

The one exception to the foregoing?


When a home I’ve sold is subsequently torn down — or remodeled down to the studs — there’s no reason to keep the paperwork (closing documents like the HUD-1, the Seller’s Disclosure, etc. are scanned in and available in Edina Realty’s online archive indefinitely).

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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