3,626,530
To cover your butt should you get sued. If it's not in writing it didn't happen. If it's not in writing it doesn't exist.
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John McCormack, CRS
Albuquerque, NM
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
1,661,836
James Dray nailed this one.
My tax gal loves me I keep up with everything for Uncle Sam.
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James Dray
Bentonville, AR
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Michael Jacobs
Pasadena, CA
5,104,806
Legal liability is one very good reason!
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John McCormack, CRS
Albuquerque, NM
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Michael Jacobs
Pasadena, CA
2,220,323
784,786
6,392,879
4,571,456
It improves time management - when you need to find something, you are not on a treasure hunt.
Reduces your exposure to legal liability.
Organization can be fun! Really.
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John McCormack, CRS
Albuquerque, NM
1,157,785
Depending on the type of records, it may be a legal requirement.
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Michael Jacobs
Pasadena, CA
2,759,812
Good Wednesday morning Spencer. Good records create a paper trail and paper trails are good to cover your assets in the event of litigation.
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Nina Hollander, Broker
Charlotte, NC
2,538,633
Good morning Spencer. I'm assuming one wants to know where they are financially, it would be important. If you don't keep good records and are involved in litigation, you better have good records.
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Nina Hollander, Broker
Charlotte, NC
1,683,912
2,486,205
921,504
There are two good reasons for good records
#1. To save you money
#2. To stay out of jail.
Staying out of jail will save you money.
There is only one good reason to keep good records.....
1,466,207
Spencer Coleman One reason is in the event a buyer or seller has a grievence against you and submits a formal complaint to the real estate commission. You will need not only the records, but factual data to support your rebuttal. Everything from signed paperwork to telephone calls with dates and times. Even if you are innocent with no back up data, you will probably lose.
3,164,119
you knew know when you might find yourself in court. Good notes are key.
4,881,462
Your state law probably dictates what must be kept and for how long. In addition you need a good paper trail (email, text, phone conversations) in case you ever get involved in a legal situation.