Email-based, real estate fraud schemes are on the rise. One common scenario is altering wiring instructions with the intention of rerouting funds.
Keeping this in mind, First American Title is changing the way we receive payment information. It is imperative that we are familiar with the people in our transactions.
RELYING ON EMAIL ALONE IS NO LONGER AN OPTION.
Fraudsters often use email to send falsified wire instructions to unsuspecting victims. Please warn your buyers and sellers to only follow wire instructions they receive personally from First American Title.
Additionally, we will not accept disbursement instructions for seller or buyer funds via email OR from any third party (attorney, real estate agent, etc).
ALTERNATIVE INSTRUCTIONS?
If your buyer or seller receives alternative wiring instructions that appear to be from First American Title, make sure they contact their escrow officer at a trusted phone number for confirmation.
Know that our wiring instructions do not change so any communication is suspect. Our banking institution is First American Trust.
IN SHORT – wire instructions will not be accepted by email. New wire instructions must be hand-carried or uploaded to the First American Secure Portal.
Thank you for joining First American Title in fostering a secure real estate transaction process. Have questions or concerns? Please contact our office or your escrow officer.
LIMITATION OF LIABILITY FOR INFORMATIONAL REPORTS
IMPORTANT -- PLEASE READ CAREFULLY:
This report is not an insured product or service or a representation of the condition of title to real property. It is not an abstract, legal opinion, opinion of title, title insurance commitment or preliminary report, or any form of Title Insurance or Guaranty. This report is issued exclusively for the benefit of the Applicant therefor and may not be used or relied upon by any other person. This report may not be reproduced in any manner without First Americans prior written consent. First American does not represent or warrant that the information herein is complete or free from error, and the information herein is provided without any warranties of any kind, as-is, and with all faults. As a material part of the consideration given in exchange for the issuance of this report, recipient agrees that First Americans sole liability for any loss or damage caused by an error or omission due to inaccurate information or negligence in preparing this report shall be limited to the fee charged for the report. Recipient accepts this report with this limitation and agrees that First American would not have issued this report but for the limitation of liability described above. First American makes no representation or warranty as to the legality or propriety of recipient's use of the information herein.
OWNER: MCMANUS STEVE & CAROL AFFIDAVIT 2021 1390539 05/19/2021
SITUS: 11457 E SPEEDWAY BL PC
MAIL: 11411 E SPEEDWAY BLVD
LEGAL: PTN LOT 10 LYG S OF & ADJ TO TANQUE VERDE RIVER 3.31 AC SEC 6-14-16
CURRENT TAXES INFORMATION THROUGH 02/28/2026
STANDARD LAND USE: SFR
JD
END SEARCH
Covenants, Conditions & Restrictions
Thank you for the opportunity to be of service.
Restrictions indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin are hereby deleted to the extent such restrictions violate 42 USC 3604(c).
This information is furnished without fee and without benefit of a complete title search. No liability is assumed by First American Title. If it is desired that liability be assumed, you may apply for a policy of title insurance with First American Title Insurance Company.
SHATS OF ARITOA
GOUNTY O PINA
y hand nd ClcalMe
Puged Motted N CORDRD MAIL TO.
I herehy cestil tht the was tid tue round bPdy Matel Ariaesa
CAWVERS TITLE OF ARIZONA
Jotut Tenanry Beed
Yer the eorkderotion of Ten Dollars, and other valuabls coneideretiens, I (or we)
EDWARDJ. DROMTAN MARCARET F. PROAWN, huaband unl wifo, de heveby CONVRY Wnte
RICHARD P.UNYON And LOS ANNIRUNYON, huntand and wile, met as lonants of survivershs, the follewing deseribe resl propriy sltusted In Hamon and not as a community property eetate, bt lolnt tenans with ri Couny, Arisona SEE LROAL DESCRUTION ATTACHD
BECT TO
Tusen for the second haff of thu yonr 1072 ond subsequent thoreto, Esteblleod ana/ar oxlating rouds, rondwaya and Ilghwnyn.
Hight of wag ensernent for Ingross and ogrena over the Nouth 30 feet of 1nt 177.0 feet of the Wast 731, 6 feet of 1ot 10, as resorved in Book 801 of onds ( Page 186. Right of way ensement lo T'uoson thas, Floctre tight und ower Compuuy fo eleotrio Inen ovor umlefined portkin of enptlon and other proporty mi set forth in mmrument reoordel in 1meket Hook 9 at Page 108. Eraement to Thenon Cins, Rlootrde lignt and Powor Companny rot orded in Book 2470 of okels at Poge 97 for olectrie Iines over the Wext 5 feet uf the Northensd quurtor of the Southwent querter of Seotton 0, Township 14 South, Ronge 10 Mast, All mittore arising by rensca of te inelusion In Snbunro Forvst improvomont Oistrlel. Reirvatlons tn the Patond from the Unted States of Amer lon racordod in Hook 80 of Deods it PPag .
Deted thie. th day of Novemhor 10
The ebove deed is scespted and approved by the Crentees. I being uelr istention to aequire anid premises as joint tenanta with, the rlight of survivorship, and not as community property or a ten aate in common.
Margarl F. Browt
Richare Runyon
( COUNTY OF PINA(
Tia Innttunent wwn acknowledged before the thi by EIMARD , OW &MARCARIET F. sROW, huelund and wie
My condon capiron
dily of 1972 NOTAK? BI
That portlon of Lot 10.In Rection 6, Township 14 Aouth, Nanga 16 BA id Balt Kiver Bane and Mebidian, Flma Gomiy, An ikona dekertbed as follow o
SOINNING al phe Houthwt ornar of bot 101 run theuce Falt atong the southt boundacy of hot 10, a dlatance of 731.5 Ceet to b palnt on the South hoeadary of Lo1 10 thin Thence Northocly atong a lhne powsiled wirh and dINtlest 231.5 fset Gart of Keat houndary of Lot 10, a distener of 30 feet to a potni iunce Woat and paratiel wilh the naid Seith boundary, 67.04 fust to a pofnt In Airaight. line ronning Horth and Soutl equldlaisut. from the Fast hdundary aiid the Wast hoindary of Lot 101 thence Horthat ly slong aasd utright Line aqdintast flon thejtas! bondary and the Wesl bounilarp o Lot 10 to a polnt where the strafght Uine faternects t Norchwrly bomadary of duld Yot 10 thoner Southeeft orly wling he Northerly bomdary of hot 10 tothe Northiwet cornor of satd bot; theger. Somth alonk Thy Woet boundary of 1ot 10 to the southwent corner of Lor 10, the Potnt'of Begtaniog.
XCEIT All thaf gart of the above denertbod parcel byln; Southerly of the folloving decertbed ITn
SEDINNIND at a point on the Went Ifne of sald pareel betud 685.0 foet North the douthwost eotner of seid pareels chesee goutly 89. defres 56 mimuten 15 soconds fasi a diatance of 664.05 feat to d pelnt on the East Tine of wald parvel.
TOGETHER withh an wampment iremeih with all ether pervong of,like cigt, FurLagrogs and egr nnd alung the Seuth 10 leet of hop 10
EKCEPT the West 731.5 foat tuereof, and the Smith 30 feat of ttn Mas 690 Feel of the Northwent Quarier of Che Southeast Qnarter, and thn Kant Sti feet of thn Weal 690 reet of the gouthtixt quarier of ihe fontheunt Quarter, ali In ma Secliton.6.
AND TOIETIEK WITH Sl ennenent for fngres es over thit Barl 30 fent of he Nouth 655 fant and the South 30 feal of the Kast 97.04 feet of that purtion af he ftras donerthed paratl lying Southerly of nuid lino.
By..
DECLARATIO RESTRICTIONS AND COVENANIA kL... WITH THE LAND
Fog:
KNOW ALI. MEN BY TH)
PRESENTS:
THAT RICHARD P. RUNYON & LOIS ANN RUNYON, husband and wife
, owners of those certain lands subject to a Floodplain Uwe Permit, being the following deacribed real property, to-wit:
Do herehy certify and declare that they have esrablishad, and do hereby establish, all of the followiug conditions, restrictions a.d covenante upon and suhject to which said nde phall be used, improved, occupied, owned, sold and cunveyed, to wit: That since the :otisequence of the unes arising from the granting of the sbove permit my Rive rise to drninage, flood or flowage condition which may damag, impair or injure the sforasvid landa or structures, improvements, locsted th reon nov or in the future, therefore, the mderegned owners do place a restriction upon the wxe and occupancy of said lands requiring themselves, their successors and assigns to save Pima County, its successors and aseigns, thair amployees, officers and agents harmiess from any and all claim for damage related to the wee of said irnds now and in the future by reason of floodins, flowege, erosion or damage caused by water, wtother surface, flood or rainfall. That the occupancy of said land is restricted to che condi' on the user or occupant shall undertake to save Pima County, its successrre and assigne their officers and agents, harwiess from any and all claims for damego as hereinbefore set forth. The aforesaid provinions, conditions, restrictions and covenants are improssed and imposed upon al11 of the property dascribed hereia, and avery portion thereof as a servitude in favar of each and every portion of the property which is not in the ownership of any pub).ic body as the dominant tenante.
IT IS FURTHAZ AGREKD AND UNDERBTOOD:
a. That no use other than as descrihed within the Ploodp' Una Pormir: Application received by the Piwa County Highwiy Departmevt ane 14, 1976, on kile at the officn of samo, will be exercieed without the appliuation for an additional permit.
b. That this wse will be located as showr, on the plot plan attached to the Ploodplain Use Permit Application, which is co be comidered a part of ssid application.
at
C. That any and al.l woning regulationn to witch the prapovty de muitjact to the time of issuance of a Plsodplain Use Permit shall be observed.
d. That the ares within the 100 year flood prone line presents an ures which is subject to flooding from a 100ysar frequency flood and all lad in thta 'eraa shall be restricted to nsas thar are compatible wit', Ploodplain Management etate Pima County Ordinance No. 1974-96. in
.That the utructure shall be placed with the longitudinal axis parallel to the directio of frow.
of
f. That the structure hall be raised to a minimum finishad floor elewation M.S.L., as ceruified by a igiatered Professional Engineer or Land Surveyor.
B. That the structure shall be firmly anchored to provent flotation.
h. That no chain-link or other closed-type fancing, which may impede, retard, or change the direction of flow of water, either in itself or by catching or collecting debris carrtad by such water, shall be placed on the property.
1. That the natural drainage sha:l not be altered, dierurbed or obetructed without approval of the Pima County Floodplain Board.
but any
and the
Vaid provision, c nditiors, restxictions and covenantn are not paraonsl shall rut with the land nd whall be binuing on all petsons owning or occupying portion of the above described land huncatorward from te datu hareof for a period of ninety-nine years, or tntil such time that the property, through channel improvements, or refimemctn in the olevations and/or boundaries of the floodway regul tory floodplain, as approved hy the Ploodplain Bosrd, is placed outside lizitn of saxd regulatory flpodplain.
IN WITNESS WHEREOf, the underaigned has executed these presents thia day of 19
RICHARD P. RUNYON
LOE ANN RUNYON
STATE OF ARIZONA) COUNTY OF PIMA)
This inetrument was acknowledged before me thiai day 196
Commission Expires Wy Pommission Expires September 6, 1976
t portion of Lot 10 in Section 6, Township 14 8outh Hange 16 East. B. R. B. &M., Pima County, ARizcna, described a followa to-wit
BEGINNINGt the Southwest corner of I07 i1
RUN MENCE East along the south boundery of Lot 10, a distanca of 31. fert to a point on the South boundary of Lot .01
THEI E Northerly along a aine parailel with and di tant 731.5 feet East of the west boundary of Lot 10, distanca of 30.0 feat to a point THENCE West and parallel with the said Routh boun ary, 67.04 feet to a poin: in a straight lins xunnig North d Souti equidistant from the tast houndary and the West boundary of Lit 1, from the East THENCE Horthely along said traight. line equidi stant boundary ard the West boundacy of Lot in to a point where the straight line intersects the Northorly boundary of said 1ot 10; THINCE Southwesterly along the Northerly boundaiy of Lot. 10 to the Northwest corner of said Lot,
THENCE South along the West boundary of Lot 10 o the Southwest corner of Lot 10, the POINT OF BEGINN NG,
EXCEPT a1l chat part of the above described parel lying Southerly of the following descr bed line
BEGINHING at a point on we We. line of said parcel being 685.0 North of the Southwest: corner of said parcel, THENCE South 89 degtes 59' 1" East a distance of 664.05 feet to point on the East linw of said parcel.
STATE OP ARIZONA
COUNTY OF PIMA
Witnese my hand and (Offcial Seal
rtify that the within No. was filerd for record uy, State ofArizona Hook
AWAE SMYT
Indexed Paged Blotted County Reder
RIGHT OF WAY EASEMENT
RICHAND P. HUNYON AA LWIS AM UYON, usband ana
,herginafier called "Grantor," or goou and valuable considerstion, the receipt of which is hereby acknowiedged, hereby grants arad conveys uato TUCSON CAS & ELECTRIC COMPANY, an Arizona corporation, its suecessors and assigns, hereinaCter called "Grintee," an casement,and right of wa, to construct, t, operate, and malntain underground etectrlc lines and appurtenant facilities for the tranumisston and dist lbu- tlon of electiicity upon, through, over, under, and accoss the landa und any and all parcels and portions thereof hersinater descubed.
The lands in which said easement and right of way is hureby granted ate owned by Grantor in tee simple, are situated in the County of Pima, State of Arizona, and are panticularty desesilied as follows, to wit
That certain real property located in lot 10 of Section 6, Tomahip 14 Bouth, Range 16 East, OSKBAM, Pima County, Arizona, Said real property further desoribed and of record in the Pima County, Aritona acorder's Office in Book 4388 at pager 567-568 and pages 569-570 thersof.
The said casement and right of yay in the aforesaid land, as'shown ol Drawing N.767-0203-1)1-2, altached hereto and by this reference made a past hereof,shall b10 10 fox in wileith, being feet measured at right angles on each side of the center live thereof as shown on said draving: and unless otherwise Indicated on aid draving. an arca. 10 feet by 19 feet for each trarsformer fundation, X .. and thallinchude such other areas as desigmated on sald drawing.
Grantee shall have the right to excavate for, place, lay, construct, operate, use, maintain, sspair, replace, reconstruct, enlatge, alter, improve, add to, relocate, and/or remove at any time and from time to time,underground electric facilitiestherein consisting of conduits, manhole., handholes, pullboxes, and junction boxeswith wires and cables placed therein, and above ground structures consisting of transformer pads, transformers, seavice pedestals, riser poles with requlred overhead conductors, and appurtenances necessary for the operation of said underground facilities and all niscellaneous equlpment and materlal connected therewith. Grantee shall have the right of Ingress to and egrew from sald easement by a practical route or routes in, upon, over, and across the hereinbefore described lands or any postion or portions thereof, together with the right to clear and keep clear said easement and right of way, from explosives, materla)s, buildings or other structures, imptements, or obstructions, without limiting the gejerality of the foregoing.
Grantor shall not dig or drill any well, plant any tree, eract, place, or conetruct uct any pipeline, irrigation ditch, lake, pond, Suilding, wall, fence or other structure, nor impound or store fluids and/or materials within the boundarles of the ahove described ado store casement and right of way.
Grantor shali not increase or decrease the ground surface alevations within the boundaties ofthe above described easement and right of way wxdathng at the date of execution of this instrument, nor shall the sald ground curface be pemetrated to a depth In excess of 12 inches by any tool or implement, without the previnus written cousent of the Grantes, If subeequent to comperec tion, the clearance or grade lachanged in such way as to require relocation of the underground facilities, e cost of such relocstion shpll beborne by Grantor or subsequent owtier.
All electrieal equipment installed by Grantee In and upon the dereln described easement ahall cemain the pernonal property of the Grantee and shall not be deemed a part of the realty.
Grantee shall e thall have the right to trim and cut trees, foliage, and roots upon und from wishin the above described easement und right of way whenever Ia Grantee's judgment the same shell be necemary for the convenient and sate exerctse of the riht herein granted.
Grantor shall nor grant or dedicare any other essement on, under, or over thhe above destribed sasement und iight of way withoul fiist ecuring Grantee's wrictenapperval, the right t tranafer and assign this casemest and right of way lu whole or in part being hereby panted to the Grontee.
Grantor does hereby grant and ronsey to Grantes the excluslve right to use and occupy sny trencher, coluls, risers, pull boxes, and/or transformer loundaiions instaled by Grantor as may be more partleulaely ses forth in the elecirical distribudan underground agreement hereinbefpre or hetein ser executed between Grantor and Grantee coveiing the resd property hevein deecribed.
Grantee shall have che righr durlng constiuction of GIrantee's initial faulites, to ure for the purposes incidental to sald conizuction, s strip of land. feet in width adjacent and contiguous to the herein granted easemont and righe of way, ssld strip to be in whole or in part on sither slde of sald casement and right of ray, naid right to ase sald atrip of land ceseing and belng terminated at such tlme as sald inltial contricslon is completed.
The terms, covenants nd conditions of this carement and right of way shall be binding upon and Inure to the benefht ofany heirs, executors, adnilaistrators, permiiters, licensees, agenty, or assigns of Grantan and the successors and aeigns of the Grantee.
The term "Grantor" shall ficlode the plural I ipplkable. All terms used in the slugulas or In the neuter gender shall apply to the plural or the sinpular or neuter gender at the cantext hereln requires.
y leun hnye
LOIS ANN RUKYOM
STATE OF COUNTY OF 2
"his inetrument was acknowledged befcie me, the undersigned notary public, by RIOHARD P. JUNTON and LOIS AN NYOM. Huabend and
Compdaslon expiresi fommission Expites Jo . 26 1929 on the 11 day of Lilgpin 19.. Natey
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Benefits from a professional REALTOR® .
Before you make the decision to try to sell your home alone, consider the benefits a REALTOR® can provide that you may not be aware of:
Understands market conditions and has access to information not available to the average homeowner.
Can advertise effectively for the best results.
Knows how to price your home realistically, to give you the highest price possible within your time frame.
Is experienced in creating demand for homes and how to show them to advantage.
Knows how to screen potential Buyers and eliminate those who can’t qualify or are looking for bargain-basement prices.
Knows how to go toe-to-toe in negotiations.
Is always “on-call,” answering the phone at all hours, and showing homes evenings and weekends.
Can remain objective when presenting offers and counter-offers on your behalf.
Maintains errors-and-omissions insurance.
Will listen to your needs, respect your opinions and allow you to make your own decisions.
Can help protect your rights, particularly important with the increasingly complicated real estate laws and regulations.
Is experienced with resolving problems to facilitate a successful closing on your home.
For sale by owner.
Many people believe they can save a considerable amount of money by selling their homes themselves. It may seem like a good idea at the time, but while you may be willing to take on the task, are you qualified? The following are some questions to help you realistically assess what’s involved:
Do you have the knowledge, patience, and sales skill needed to sell your home?
If your buyer is aggressive, can you negotiate a successful outcome for yourself?
Do you know how to determine the current market value of your home?
Are you aware of conditions in the marketplace today that affect value and length of time to sell?
Do you know how to determine whether or not a buyer can qualify for a loan?
Are you concerned about having strangers walking through your home?
Do you understand the steps of an escrow and what’s required of you and the buyer?
Are you familiar enough with real estate regulations to prepare a binding sales contract? Counter-offers?
Are you aware that every time you leave your home, you are taking it off the market until you return?
Have you made arrangements with an escrow and title company, home warranty company, pest-control service and lender to assist you with the transaction?
Do you need to hire a real estate attorney? If so, do you know what the cost will be and how much liability they will assume in the transaction?
Only you can determine whether you should attempt to sell your home—probably your largest investment—all alone. Talk with a REALTOR® before you decide. You may find working with a professional is a lot less expensive and much more beneficial than you ever imagined!
Do you know how to advertise effectively and what the costs will be?
Are you aware that prospective buyers and bargain hunters will expect you to lower your cost because there’s no REALTOR® involved?
Do you understand the various types of loans buyers may choose and the advantages and disadvantages for the seller?
Are you prepared to give up your evenings and weekends to show your home to potential Buyers and “just-looking” time wasters?
Key professionals involved in your transaction.
REALTOR®
A REALTOR® is a licensed real estate agent and a member of the National Association of REALTORS®, a real estate trade association. REALTORS® also belong to their state and local Association of REALTORS® .
Real Estate Agent
A real estate agent is licensed by the state to represent parties in the transfer of property. Every REALTOR® is a real estate agent, but not every real estate agent has the professional designation of a REALTORS®
Listing Agent
A key role of the listing agent or broker is to form a legal relationship with the homeowner to sell the property and place the property in the Multiple Listing Service.
Buyer’s Agent
A key role of the buyer’s agent or broker is to work with the buyer to locate a suitable property and negotiate a successful home purchase.
Multiple Listing Service (MLS)
The MLS is a database of properties listed for sale by REALTORS® who are members of the local Association of REALTORS®. Information on an MLS property is available to thousands of REALTORS®
Title Company
These are the people who carry out the title search and examination, work with you to eliminate the title exceptions you are not willing to take subject to, and provide the policy of title insurance regarding title to the real property.
Escrow Officer
An escrow officer leads the facilitation of your escrow, including escrow instructions preparation, document preparation, funds disbursement, and more.
Lenders
A financial institution that provides money to a borrower to purchase real estate, often in the form of a mortgage. Lenders play a vital role in the home buying process by assessing the borrower’s ability to repay the loan and setting the terms of the mortgage.
Inspectors
A licensed professional who evaluates the condition and safety of a property for a buyer or seller. They inspect the property from top to bottom, looking for defects that could be a financial burden or safety risk.
Appraisers
A professional who provides an unbiased estimate of a property’s value.
Preparing your home for sale.
First impressions have a major impact on potential buyers. Try to imagine what a potential buyer will see when they approach your house for the first time and walk through each room. Ask your REALTOR® for advice; they know the marketplace and what helps a home sell. Here are some tips to present your home in a positive manner:
Mow and edge the lawn regularly, and trim the shrubs.
Make your entry inviting: paint your front door and buy a new front door mat.
Paint or replace the mailbox, if needed.
If screens or windows are damaged, replace or repair them.
Repair or replace worn shutters and other exterior trim.
Make sure the front steps are clear and hazard-free. Make sure the doorbell works properly and has a pleasant sound.
Ensure that all exterior lights are working.
Check stucco walls for cracks and discoloration.
Remove any oil and rust stains from the driveway and garage.
Clean and organize the garage, and ensure the door is in good working order.
Shampoo carpeting or replace if worn. Clean tile floors, particularly the caulking.
Brighten the appearance inside by painting walls, cleaning windows and window coverings, and removing sunscreens.
Repair leaky faucets and caulking in bathtubs and showers.
Repair or replace loose knobs on doors and cabinets. If doors stick or squeak, fix them.
Make sure toilet seats look new and are firmly attached.
Repair or replace loud ventilating fans.
Replace worn shower curtains.
Rearrange furniture to make rooms appear larger. If possible, remove and/or store excess furniture, and avoid extension cords in plain view.
Remove clutter throughout the house. Organize and clean out closets.
Clean household appliances and make sure they work properly.
Air conditioners/heaters, evaporative coolers, hot water heater should be clean, working and inspected if necessary. Replace filters.
Check the pool and/or spa equipment and pumps. Make sure all are working properly and that the pool and/or spa are kept clean.
Inspect fences, gates and latches. Repair or replace as needed.
Staging your home for show.
To make the best impression, keep your home clean, neat, uncluttered and in good repair. Please review this list prior to each showing:
Keep everything clean. A messy or dirty home will cause prospective buyers to notice every flaw.
Clear all clutter from counter tops.
Let the light in. Raise shades, open blinds, pull back the curtains and turn on the lights.
Get rid of odors such as tobacco, pets, cooking, etc., but don’t overdo air fresheners or potpourri. Fresh baked bread and cinnamon can make a positive impact.
Send pets away or secure them away from the house, and be sure to clean up after them.
Close the windows to eliminate street noise.
If possible you, your pets, and your children should be gone while your home is being shown.
Clean trash cans and put them out of sight.
If you must be present while your home is shown, keep noise down. Turn off the TV and radio. Soft, instrumental music is fine, but avoid vocals.
Keep the garage door closed and the driveway clear. Park autos and campers away from your home during showings
Hang clean attractive guest towels in the bathrooms.
Check that sink and tub are scrubbed and unstained.
Make beds with attractive spreads. Stash or throw out newspapers, magazines, junk mail.
Terms you should know.
Appraisal
An estimate of value of property resulting from analysis of facts about the property; an opinion of value.
Annual Percentage Rate (APR)
The borrower’s costs of the loan term expressed as a rate. This is not their interest rate.
Beneficiary
The recipient of benefits, often from a deed of trust; usually the lender.
Closing Disclosure (CD)
Closing disclosure form designed to provide disclosures that will be helpful to borrowers in understanding all of the costs of the transaction. This form will be given to the consumer three (3) business days before closing.
Close of Escrow
Generally the date the buyer becomes the legal owner and title insurance becomes effective.
Comparable Sales
Sales that have similar characteristics as the subject real property, used for analysis in the appraisal. Commonly called “comps.”
Consummation
Occurs when the borrower becomes contractually obligated to the creditor on the loan, not, for example, when the borrower becomes contractually obligated to a seller on a real estate transaction. The point in time when a borrower becomes contractually obligated to the creditor on the loan depends on applicable state law. Consummation is not the same as close of escrow or settlement.
Deed of Trust
An instrument used in many states in place of a mortgage.
Deed Restrictions
Limitations in the deed to a parcel of real property that dictate certain uses that may or may not be made of the real property.
Disbursement Date
The date the amounts are to be disbursed to a buyer and seller in a purchase transaction or the date funds are to be paid to the borrower or a third party in a transaction that is not a purchase transaction.
Earnest Money Deposit
Down payment made by a purchaser of real property as evidence of good faith; a deposit or partial payment.
Easement
A right, privilege or interest limited to a specific purpose that one party has in the land of another.
Endorsement
As to a title insurance policy, a rider or attachment forming a part of the insurance policy expanding or limiting coverage.
Hazard Insurance
Real estate insurance protecting against fire, some natural causes, vandalism, etc., Depending upon the policy. Buyer often adds liability insurance and extended coverage for personal property.
Impounds
A trust type of account established by lenders for the accumulation of borrower’s funds to meet periodic payments of taxes, mortgage insurance premiums and/or future insurance policy premiums, required to protect their security.
Legal Description
A description of land recognized by law, based on government surveys, spelling out the exact boundaries of the entire parcel
of land. It should so thoroughly identify a parcel of land that it cannot be confused with any other.
Lien
A form of encumbrance that usually makes a specific parcel of real property the security for the payment of a debt or discharge of an obligation. For example, judgments, taxes, mortgages, deeds of trust.
Loan estimate (LE)
Form designed to provide disclosures that will be helpful to borrowers in understanding the key features, costs and risks of the mortgage loan for which they are applying. Initial disclosure to be given to the borrower three (3) business days after application.
Mortgage
The instrument by which real property is pledged as security for repayment of a loan.
PITI
A payment that includes principal, interest, taxes, and insurance.
Power of Attorney
A written instrument whereby a principal gives authority to an agent. The agent acting under such a grant is sometimes called an “attorney-in-fact.”
Recording
Filing documents affecting real property with the appropriate government agency as a matter of public record.
Settlement Statement
Provides a complete breakdown of costs involved in a real estate transaction.
TRID
Tila-respa integrated disclosures
The life of an escrow.
Chooses a Real Estate Agent
Gets pre-approval letter from Lender and provides to Real Estate Agent.
Makes offer to purchase. Upon acceptance, opens escrow and deposits earnest money.
Finalizes loan application with Lender. Receives a Loan Estimate from Lender.
Completes and returns opening package from First American Title.
Schedules inspections and evaluates findings. Reviews title commitment/preliminary report.
Provides all requested paperwork to Lender (bank statements, tax returns, etc.) All invoices and final approvals should be to the lender no later than 10 days prior to loan consummation.
Lender (or Escrow Officer) prepares CD and delivers to Buyer at least 3 days prior to loan consummation.
Escrow officer or real estate agent contacts the buyer to schedule signing appointment.
Documents are recorded and the keys are delivered!
Accepts Buyer’s offer to purchase.
Completes and returns opening package from First American Title, including information such as forwarding address, payoff lender contact information and loan numbers.
Orders any work for inspections and/or repairs to be done as required by the purchase agreement.
Escrow officer or real estate agent contacts the seller to schedule signing appointment.
Documents are recorded and all proceeds from sale are received.
Upon receipt of order and earnest money deposit, orders title examination.
Requests necessary information from buyers and sellers via opening packages.
Reviews title commitment/ preliminary report.
Upon receipt of opening packages, orders demands for payoffs. Contacts buyer or seller when additional information is required for the title commitment/preliminary report.
All demands, invoices, and fees must be collected and sent to lender at least 10 days prior to loan consummation.
Coordinates with lender on the preparation of the CD.
Reviews all documents, demands, and instructions and prepares settlement statements and any other required documents.
Schedules signing appointment and informs buyer of funds due at settlement.
Once loan is consummated, sends funding package to lender for review.
Prepares recording instructions and submits docs for recording.
Documents are recorded and funds are disbursed. Issues final settlement statement.
Accepts Buyer’s application and begins the qualification process. Provides Buyer with Loan Estimate.
Orders and reviews title commitment / preliminary report, property appraisal, credit report, employment and funds verification.
Collects information such as title commitment / preliminary report, appraisal, credit report, employment and funds verification. Reviews and requests additional information for final loan approval.
Underwriting reviews loan package for approval.
Coordinates with Escrow Officer on the preparation of the Closing Disclosure, which is delivered to Buyer at least 3 days prior to loan consummation.
Delivers loan documents to escrow.
Upon review of signed loan documents, authorizes loan funding.
The Buyer
The Escrow Officer
Chooses a Real Estate Agent
The Seller
The Lender
Closing Costs: Who Pays Whats
The Escrow Process
What is an escrow?
The escrow is the process of having a neutral party manage the exchange of money for real property. The escrow holder is known as an escrow or settlement officer or agent. The buyer deposits funds and the seller deposits a deed with the escrow holder along with all of the other documents required to remove all "contingencies" (conditions and approvals) in the purchase agreement prior to closing.
How is an escrow opened?
Once a purchase agreement is signed by all necessary parties, the agent representing the party who will pay the fee selects an escrow holder and the buyer's earnest money deposit and contract are submitted to the escrow holder. From this point, the escrow holder will follow the mutual written instructions of the buyer and seller, maintaining a neutral stance to ensure that neither party has an unfair advantage over the other. The escrow holder also follows the instructions of the Buyer's new lender, the seller's existing lender, and both parties' agents. The escrow holder ensures the transparency of the transaction, while carefully maintaining the privacy of the consumers.
Your escrow professional may:
Open escrow and, if instructed to do so, deposit your good faith funds in a separate escrow account.
Order a title search to determine ownership and status of the subject real property.
Issue a preliminary report and begin the process of eliminating the title exceptions you and your lender are not willing to take title subject to.
Request payoff information for the seller’s loans, other liens, homeowner’s association fees, etc.
Coordinate with the buyer’s lender on the preparation of the Closing Disclosure (CD).
Prorate fees, such as real property taxes, per the contract, and prepare the settlement statement.
Set separate appointments allowing the seller and you to sign documents and deposit funds.
Review documents ensuring all conditions and legal requirements are fulfilled; request funds from lender.
When all funds are deposited, record documents with the County Recorder’s Office to transfer the subject real property to you.
After the recordation is confirmed, close escrow and disburse\funds, including seller’s proceeds, loan payoffs, etc.
Prepare and send final documents to all parties involved.
Understanding title insurance.
The title industry and title insurance in brief.
Prior to the development of the title industry in the late 1800s, a home-buyer received a grantor’s warranty, attorney’s title opinion, or abstractor’s certificate as assurance of home ownership. The buyer relied on the financial integrity of the grantor, attorney, or abstractor for protection. Today, home-buyers look primarily to title insurance to provide this protection. Title insurance companies are regulated by state statute. They are required to post financial guarantees to ensure that any claims will be paid in a timely fashion. They also must maintain their own “title plants” which house duplicates of recorded deeds, mortgages, plats, and other pertinent county property records.
What is title insurance?
Title insurance provides coverage for certain losses due to defects in the title that, for the most part, occurred prior to your ownership. Title insurance protects against defects such as prior fraud or forgery that might go undetected until after closing and possibly jeopardize your ownership and investment.
Why is title insurance needed?
Title insurance insures buyers against the risk that they did not acquire marketable title from the seller. It is primarily designed to reduce risk or loss caused by defects in title from the past. A loan policy of title insurance protects the interest of the mortgage lender, while an owner’s policy protects the equity of you, the buyer, for as long as you or your heirs (in certain policies) own the real property.
When is the premium due?
You pay for your owner’s title insurance policy only once, at the close of escrow. Who pays for the owner’s policy and loan policy varies depending on local customs.
5
Compare First American Title’s Eagle Policy® for Owners
Consider This
One escrow transaction could involve more than 20 individuals, including real estate agents, buyers, sellers, attorneys, escrow officer, escrow technician, title officer, loan officer, loan processor, loan underwriter, home inspector, termite inspector, insurance agent, home warranty representative, contractor, roofer, plumber, pool service, and so on. And often, one transaction depends on another.
When you consider the number of people involved, you can imagine the opportunities for delays and mishaps. Your experienced escrow team can’t prevent unforeseen problems from arising; however, they can help smooth out the process.
Closing Your Escrow
What to do before the closing appointment.
Your escrow officer or escrow technician will contact you to schedule your closing appointment and inform you of the funds you need to bring with you. Obtain a cashier’s check for that amount made payable to First American Title. If a wire transfer is necessary, arrange for it in advance with your escrow officer.
First American Title is required by law to have funds deposited before escrow funds can be disbursed. Expect delays if you submit a personal check! If you have questions or anticipate a problem, contact your escrow officer immediately.
Don’t forget your identification.
You will need valid identification with your photo; a driver’s license is preferred. This is necessary so that your identity can be sworn to by a notary public. It’s a routine step, but it’s important for your protection.
What happens next?
During your signing appointment at First American Title, you will sign loan documents for the home you are purchasing and you will present your identification so the documents can be notarized. You will review the settlement statement and give the escrow officer your cashier’s check. (The seller will sign at a separate appointment.)
First American Title will confirm that all contract conditions have been met and ask the lender to “fund the loan.” If the loan documents are satisfactory, the lender will send funds directly to First American Title. When all necessary funds are received we will disperse escrow funds to the seller and other appropriate payees. The signed loan documents will be returned to the lender. We will record the deed at the county recorder’s office. At this time your escrow is closed.
After the Closing
We recommend you keep all records pertaining to your home together in a safe place, including all purchase documents, insurance, maintenance and improvements.
Loan payments and impounds. You should receive a statement from your lender before your first payment is due. If you have not been notified, or if you have questions about your tax and insurance impounds, contact your lender.
Home Warranty Repairs. If you have a home warranty policy, call your home warranty company directly for repairs. Have your policy number available when you call.
Title Insurance Policy. First American Title will deliver your policy and your recorded deed.
Property Taxes. You may not receive a tax statement for the current year on the home you buy; however, it is your obligation to make sure the taxes are paid when due. Check with your mortgage company to find out if taxes are included with your payment. For more information on your property taxes, contact your county treasurer’s office.
Planning Your Move
Six Weeks Before:
Create an inventory sheet of items to move
Research moving options You’ll need to decide if yours is a do-it-yourself move or if you’ll be using a moving company.
Request moving quotes Solicit moving quotes from as many moving companies and movers as possible. There can be a large difference between rates and services within moving companies.
Discard unnecessary items Moving is a great time for ridding yourself of unnecessary items. Have a yard sale or donate unnecessary items to charity.
Packing materials. Gather moving boxes and packing materials for your move.
Contact insurance companies (Life, Health, Fire, Auto) You’ll need to contact your insurance agent to cancel/ transfer your insurance policy. Do not cancel your insurance policy until you have and closed escrow on the sale.
Seek employer benefits If your move is work-related, your employer may provide funding for moving expenses. Your human resources rep should have information on this policy.
Changing Schools If changing schools, contact new school for registration process.
Four Weeks Before:
Contact utility companies Set utility turnoff date, seek refunds and deposits and notify them of your new address.
Obtain your medical records. Contact your doctors, physicians, dentists and other medical specialists who may currently be retaining any of your family’s medical records. obtain these records or make plans for them to be delivered to your new medical facilities.
Note food inventory levels Check your cupboards, refrigerator and freezer to use up as much of your perishable food as possible.
Service small engines for your move by extracting gas and oil from the machines. This will reduce the chance to catch fire during your move.
Protect jewelry and valuables Transfer jewelry and valuables to safety deposit box so they can not be lost or stolen during your move.
Borrowed and rented items Return items which you may have borrowed or rented. Collect items borrowed to others.
One Week Before:
Plan your itinerary Make plans to spend the entire day at the house or at least until the movers are on their way. Someone will need to be around to make decisions. Make plans for kids and pets to be at the sitters for the day.
Change of address Visit USPS for change of address form.
Bank accounts Notify bank of address change. Make sure to have a money order for paying the moving company if you are transferring or closing accounts.
Service automobiles If automobiles will be driven long distances, you’ll want to have them serviced for a troublefree drive.
Cancel services. Notify any remaining service providers (newspapers, lawn services, etc) of your move.
Start packing Begin packing for your new location.
Travel items Set aside items you’ll need while traveling and those needed until your new home is established. Make sure these are not packed in the moving truck!
Scan your furniture. Check furniture for scratches and dents before so you can compare notes with your mover on moving day.
Prepare Floor Plan Prepare floor plan for your new home. This will help avoid confusion for you and your movers.
Moving Day:
Review the house Once the house is empty, check the entire house (closets, the attic, basement, etc) to ensure no items are left or no home issues exist.
Sign the bill of lading Once you are satisfied with the mover’s packing your items into the truck, sign the bill of lading. If possible, accompany your mover while the moving truck is being weighed.
Double check with your mover Make sure your mover has the new address and your contact information should they have any questions during your move.
Vacate your home. Make sure utilities are off, doors and windows are locked and notify your real estate agent you’ve left the property.
Central Arizona Branch Locator
1 Sun City West
623-299-3644
13940 W. Meeker Blvd, #119 Sun City West, AZ 85375 N of Meeker Blvd W of R.H. Johnson
2 The Legends
623-537-1608
20241 N. 67th Ave, #A-2 Glendale, AZ 85308 E side 67th Ave/N of 101
3 Arrowhead
623-487-0404
16165 N. 83rd Ave, #100 Peoria, AZ 85382
SE corner of N 83rd Ave and W Paradise Ln
4 Anthem
623-551-3265
39508 N. Daisy Mountain Dr, #128 Anthem, AZ 85086 NE corner Daisy Mtn Dr/Gavilan Peak Pkwy
5 Tatum Ridge
480-515-4369
11211 N Tatum Blvd, #A150 Phoenix, AZ 85028 N of Shea, E side of Tatum
6 Carefree
480-575-6609
7202 E. Carefree Dr, Bldg 1, #1 Carefree, AZ 85377 NE corner of Tom Darlington/Carefree Dr.
7 Scottsdale Forum
480-551-0480
6263 N. Scottsdale Rd, #110 Scottsdale, AZ 85250 E Side Scottsdale/S of Lincoln
8 Raintree
480-563-9034
8605 E. Raintree Dr, # 130 Scottsdale, AZ 85260 SW corner of E Raintree Dr and N 87th St
9 Chandler Portico
480-777-0051
2121 W. Chandler Blvd., #100 Chandler, AZ 85224 SW Corner Chandler Blvd./Dobson Rd.
10 Gilbert San Tan
480-777-0614
1528 E. Williams Field Rd. #101 Gilbert, AZ 85295 NW corner of Williams Field Rd./Val Vista Rd.
11 Mesa
480-401-3738
1630 S. Stapley Dr, #123 Mesa, AZ 85204 N of Baseline / W of Stapley
12 Gold canyon
480-288-0883
6877 South Kings Ranch Rd, #5 Gold Canyon, AZ 85118 E of 60/South Side Kings Ranch Rd.
Southern Arizona Branch Locator
1 Tanque Verde
6390 E Tanque Verde Rd Tucson, AZ 85715
phone 520-885-1600 / 520-202-2626
2 Broadway
3777 E Broadway, Ste 130 Tucson, AZ 85716
phone 520-747-1644
3 Cambric 1840 E River Road Ste 200 Tucson, AZ 85718
phone 520-577-8707 / 520-529-1944
4 Casa Grande
442 W Kortsen Road, Ste 101 Casa Grande, AZ 85122
phone 520-426-4600
5 Casas Adobes
6760 N Oracle Rd, Ste 100B Tucson, AZ 85704 phone 520-575-1900
6 Green Valley
210 W Continental Road, Ste. 248 Green Valley, AZ 85622 phone 520-625-1095
7 Oro Valley/La Canada 11165 N La Canada Dr, Ste 143 Oro Valley, AZ 85737 phone 520-877-9200
8 Oro Valley/Oracle 8500 N Oracle Rd, Ste 100 Oro Valley, AZ 85704 phone 520-297-2576 | 520-219-6451
