8948E.OldSpanishTrail Tucson,AZ85710
WIRE FRAUD ALERT THINK DIFFERENTLY
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.
YOU SHOULD BE AWARE OF PRECAUTIONS IN THE REAL ESTATE CLOSING PROCESS
DO NOT TRUST EMAILED INSTRUCTIONS
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.
For more information please contact your First American representative. www.firstam.com
01100180621
First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates. ©2023 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF
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.
Subject Property
8948 E Old Spanish Trl
Tucson
AZ 85710
APN: 134-04-0400
Data Provided By:
First American Title Ins Co
© 2024 CoreLogic. All rights reserved
Data Provided By:
Disclaimer
This REiSource report is provided "as is" without warranty of any kind, either express or implied, including without limitations any warrantees of merchantability or fitness for a particular purpose. There is no representation of warranty that this information is complete or free from error, and the provider does not assume, and expressly disclaims, any liability to any person or entity for loss or damage caused by errors or omissions in this REiSource report without a title insurance policy.
The information contained in the REiSource report is delivered from your Title Company, who reminds you that you have the right as a consumer to compare fees and serviced levels for Title, Escrow, and all other services associated with property ownership, and to select providers accordingly. Your home is the largest investment you will make in your lifetime and you should demand the very best.
First
American Title Ins Co
© 2024 CoreLogic. All rights reserved
Subject Property : 8948 E Old Spanish Trl Tucson AZ 85710
Owner Information
Owner Name : Perrin Colleen L
Mailing Address : 8948 E Old Spanish Trl, Tucson AZ 85710-6252 C049
Owner Occupied Indicator : O
Location Information
Legal Description : Blue Ridge Estates Lot 4 (qcd: D 5998 P 1096 4/3/79)
County : Pima, Az
APN : 134-04-0400
Census Tract / Block : 40.49 / 1 Subdivision : Blue Ridge Estates
Township-Range- Sect : 14S-15E-15
Map Reference : 15-14S-15E
Legal Book/Page : 17-54 School District : Tucson Unified
Legal Lot : 4
Market Area : 91
Last Market Sale Information
Recording/Sale Date : 01/02/1975
Document # : 4925-340
Prior Sale Information
Prior Rec/Sale Date : 12/01/1974
Prior Sale Price : $41,830
Property Characteristics
Gross Area : 1,886
Living Area : 1,886
Total Rooms : 7
Year Built / Eff : 1970
# of Stories : 1
Parking Type : Carport
Property Information
Land Use : Sfr
County Use : Single Fam Resurban Subd
Munic/Township : Tucson Unified
Deed Type : Deed (reg)
Prior Deed Type : Deed (reg)
Garage Capacity : 2 Patio Type : None
Roof Material : Built-up Air Cond : Refrigeration
Heat Type : Forced Air Quality : Fair
Cooling Type : Forced Air Condition : Excellent
Exterior wall : Slump
Zoning : R-1
Lot Acres : 0.27
Bath Fixtures : 6
Lot Size : 11,974
State Use : Single Fam Resurban Subd
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Tax Information
Total Value : $222,962 Property Tax : $2,163.45
Total Taxable Value : $18,598
Assessed Year : 2023
Tax Year : 2022
Tax Rate Area : 0150
Market Value : $222,962
Current Assessed Year : 2024
Current Year Total Value : $26,914
Current Year Improvement Value :
$26,863
Current Year Land Value : $50
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Sales Analysis Criteria Subject Property Low High Average Sale Price $158,500 $412,000 $333,100 Bldg/Living Area 1886 1612 2161 1844 Price Per Square Foot $93 $246 $181.80 Year Built 1970 1961 2020 1972 Lot Size 11,974 4,361 51,401 11,397 Bedrooms Bathrooms 2 1 3 2 Stories 1 1 1 1 Total Assessed Value $222,962 $195,060 $279,028 $236,077 Distance From Subject 0 0.07 0.59 0.36 Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Map Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Details of Comparables
Subject Property: 8948 E Old Spanish Trl Tucson Az 85710
Owner Name: Perrin Colleen L /
APN / Alternate APN: 134-04-0400 / Deed Type: Deed (reg)
Subdivision / Tract: Blue Ridge Estates / Lot Size: 11,974
Rec. Date / Price: 01/02/1975 / $ Living Area: 1,886
Document #: 4925-340
#1 748 S Front Royal Dr Tucson Az 85710
Owner Name: Crocker Teens /
Bedrooms:
Bath(F/H): /
APN / Alternate APN: 134-04-3410 / Deed Type: Warranty Deed
Subdivision / Tract: Blue Ridge Estates 3 / Lot Size: 8,069
Rec. Date / Price: 09/15/2023 / $341,000
Document #: 2580331
#2 8936 E Harborage Dr Tucson Az 85710
Owner Name: Ratzlaff Megan E /
Living Area: 1,890
Land Use: Sfr
Year Built / Eff: 1970 /
# of units:
Pool:
Land Use: Sfr
Year Built / Eff: 1971 /
# of units:
Bedrooms: Pool: Pool
Bath(F/H): /
APN / Alternate APN: 134-04-0050 / Deed Type: Warranty Deed
Subdivision / Tract: Halcyon Ridge
Estates /
Rec. Date / Price: 04/06/2023 / $240,000
Document #: 960299
#3 8860 E Harborage Dr Tucson Az 85710
Owner Name: Wylie Michelle /Wylie Ted
Lot Size: 15,966
Living Area: 1,911
Bath(F/H): /
APN / Alternate APN: 134-04-0090 / Deed Type: Warranty Deed
Subdivision / Tract: Halcyon Ridge
Estates /
Rec. Date / Price: 02/23/2023 / $405,000
Document #: 540389
Total Tax Value: $279,028
#4 650 S Woodstock Dr Tucson Az 85710
Owner Name: Bassett Kathleen /
Lot Size: 15,169
Living Area: 1,963
Land Use: Sfr
Year Built / Eff: 1962 /
# of units:
Land Use: Sfr
Year Built / Eff: 1970 /
# of units:
Bedrooms: Pool:
Bath(F/H): /
APN / Alternate APN: 134-04-0930 / Deed Type: Warranty Deed
Subdivision / Tract: Blue Ridge Estates / Lot Size: 8,065
Rec. Date / Price: 12/29/2023 / $305,000
Document #: 3630594
Living Area: 2,005
Land Use: Sfr
Year Built / Eff: 1968 /
# of units:
Bedrooms: Pool: Pool
Bath(F/H): / Customer
Total Tax Value: $222,962
Total Tax Value: $242,851
Value:
Bedrooms: Pool: Total Tax
$255,787
Total Tax Value: $252,120
Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
#5 9040 E Millett Dr Tucson Az 85710
Owner Name: Hiner Caleb / APN / Alternate APN: 134-04-2870 / Deed Type: Warranty Deed
Subdivision / Tract: Estes Park / Lot Size: 8,666
Land Use: Sfr
Year Built / Eff: 1970 / Rec. Date / Price: 08/30/2023 / $400,000
Document #: 2420582
#6 9017 E Millett Dr Tucson Az 85710
Living Area: 2,090
Bedrooms:
Bath(F/H): /
Owner Name: Bellantoni John A Jr /Skolnik Jade I
APN / Alternate APN: 134-04-2820 / Deed Type: Warranty Deed
Subdivision / Tract: Estes Park / Lot Size: 7,800
Rec. Date / Price: 06/07/2023 / $410,000
Document #: 1580496
Living Area: 1,756
# of units:
Pool: Pool
Land Use: Sfr
Year Built / Eff: 1969 /
# of units:
Bedrooms: Pool: Total
#7 8816 E Old Spanish Trl Tucson Az 85710
Owner Name: Ehman Arthur /Ehman Lori
APN / Alternate APN: 134-04-1220 / Deed Type: Warranty Deed
Land Use: Sfr
Subdivision / Tract: Blue Ridge Estates / Lot Size: 10,567 Year Built / Eff: 1970 /
/
230176 Bedrooms:
/
#8 8734 E Wallen Ridge Dr Tucson Az 85710
Owner Name: Jonas Sandra L / APN / Alternate APN: 134-04-0600 / Deed Type: Warranty Deed Land Use: Sfr
Subdivision / Tract: Blue Ridge Estates / Lot Size: 10,074
Rec. Date / Price: 04/06/2023 / $385,000 Living Area: 1,751
Document #: 960286
Total Tax Value: $233,899
#9 8939 E Millett Dr Tucson Az 85710
Bedrooms:
Bath(F/H): /
Owner Name: Schlecht Nathanael R /Schlecht Nicole M
APN / Alternate APN: 134-04-2750 / Deed Type: Warranty Deed
Subdivision / Tract: Estes Park / Lot Size: 8,157
Year Built / Eff: 1970 /
# of units:
Pool: Pool
Land Use: Sfr
Year Built / Eff: 1969 /
Rec. Date / Price: 03/15/2023 / $345,000 Living Area: 1,757 # of units:
Document #: 740384 Bedrooms:
/
#10 715 S Gollob Rd Tucson Az 85710
Owner Name: Goff Family Trust / APN / Alternate APN: 134-02-003C / Deed Type: Warranty Deed
Subdivision / Tract: Halcyon Acres Annex / Lot Size: 51,401
Land Use: Sfr
Year Built / Eff: 1972 / Rec. Date / Price: 09/20/2023 / $412,000 Living Area: 1,674
Document #: 2630111
Bedrooms: Pool:
Total Tax Value: $261,460
Tax Value: $221,536
Bath(F/H): /
Rec.
Pool:
Tax Value: $198,395 Bath(F/H):
Date / Price: 01/23/2024
$245,000 Living Area: 1,612 # of units: Document #:
Total
Pool: Pool
Total Tax Value: $233,207 Bath(F/H):
# of units:
Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Total Tax Value: $254,258 Bath(F/H): / Customer
#11 901 S Desert Steppes Dr Tucson Az 85710
Owner Name: Joyce Ian /Cohen Haley
APN / Alternate APN: 134-08-2330 / Deed Type: Warranty Deed
Subdivision / Tract: Desert Steppes Estates / Lot Size: 8,856
Rec. Date / Price: 02/06/2023 / $325,000
Document #: 370432
#12 9215 E Calle Maria Tucson Az 85710
Living Area: 1,718
Bedrooms:
/
Owner Name: Willis Clinton /Devoucoux Catherine
APN / Alternate APN: 136-07-490A / Deed Type: Warranty Deed
Subdivision / Tract: Hermosa Highlands 04 / Lot Size: 6,368
Rec. Date / Price: 12/19/2023 / $349,000
Document #: 3530291
#13 9234 E Calle Maria Tucson Az 85710
Owner Name: Fleck Nicholas /Fleck Jessica
Living Area: 1,686
Bedrooms:
APN / Alternate APN: 136-07-457E /136-07-457B Deed Type: Warranty Deed
Subdivision / Tract: Hermosa Highlands 04 /
Rec. Date / Price: 08/31/2023 / $349,000
Document #: 2430711
Total
#14 700 S Santa Ana Dr Tucson Az 85710
Owner Name: Domine Steve L /
Lot Size: 10,807
Living Area: 1,832
Bedrooms:
Bath(F/H): /
APN / Alternate APN: 134-05-0670 / Deed Type: Warranty Deed
Subdivision / Tract: Hermosa Hills Estates / Lot Size: 9,663
Rec. Date / Price: 04/07/2023 / $345,000
Document #: 970305
Total Tax Value: $236,258
Living Area: 1,951
Bedrooms:
Bath(F/H): /
#15 9008 E Chickamauga St Tucson Az 85710
Owner Name: Tucson Premiere Properties /
APN / Alternate APN: 133-31-0500 / Deed Type: Warranty Deed
Subdivision / Tract: Centennial Park 03 / Lot Size: 8,430
Rec. Date / Price: 09/07/2023 / $158,500
Document #: 2500258
Total Tax Value: $225,206
Living Area: 1,709
Bedrooms:
Bath(F/H): /
Land Use: Sfr
Year Built / Eff: 1969 /
# of units:
Pool:
Land Use: Sfr
Year Built / Eff: 1987 /
# of units:
Land Use: Sfr
Year Built / Eff: 1991 /
# of units:
Pool:
Land Use: Sfr
Year Built / Eff: 1961 /
# of units:
Pool:
Land Use: Sfr
Year Built / Eff: 1965 /
# of units:
Pool: Pool
Total Tax Value: $207,864 Bath(F/H):
Value:
Pool: Total Tax
$199,300 Bath(F/H): /
Tax Value: $195,060
Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Customer
#16 9116 E Palm Tree Dr Tucson Az 85710
Owner Name: Wong Rosalina /Morley Russell
APN / Alternate APN: 136-07-0300 / Deed Type: Warranty Deed
Subdivision / Tract: Hermosa Highlands / Lot Size: 8,166
Rec. Date / Price: 01/12/2024 / $265,000
Document #: 120285
#17 8955 E Maple Leaf Dr Tucson Az 85710
Living Area: 1,965
Bedrooms:
Owner Name: Lsg Investments Llc / APN / Alternate APN: 136-05-366A / Deed Type: Warranty Deed
Subdivision / Tract: Rolling Hills 05 / Lot Size: 9,297
Rec. Date / Price: 08/29/2023 / $305,000
Document #: 2410364
#18 8517 E Kenyon Dr Tucson Az 85710
Living Area: 2,161
Bedrooms:
Owner Name: Pool John R /Ruiz Amaris C N
APN / Alternate APN: 134-07-1890 / Deed Type: Warranty Deed
Subdivision / Tract: Desert Steppes
Estates / Lot Size: 9,327
Rec. Date / Price: 11/17/2023 / $365,000
Document #: 3210193
Living Area: 1,639
Bedrooms:
Land Use: Sfr
Year Built / Eff: 1965 /
# of units:
Pool
Land Use: Sfr
Year Built / Eff: 1973 /
# of units:
Land Use: Sfr
Year Built / Eff: 1961 /
# of units:
Pool: Pool Total
#19 8553 E River Reserve Dr Tucson Az 85710
Owner Name: Sink Brittany A /
APN / Alternate APN: 134-08-5240 / Deed Type: Warranty Deed
Subdivision / Tract: Arroyo Reserve / Lot Size: 4,361
Rec. Date / Price: 07/14/2023 / $362,500
Document #: 1950231
#20 1401 S Brown Ave Tucson Az 85710
Living Area: 1,740
Bedrooms:
Bath(F/H): /
Owner Name: Schaffer Helen /Schaffer Chad
APN / Alternate APN: 136-07-0130 / Deed Type: Warranty Deed
Subdivision / Tract: Hermosa Highlands / Lot Size: 8,723
Rec. Date / Price: 11/16/2023 / $350,000
Document #: 3200289
Total
Land Use: Sfr
Year Built / Eff: 2020 /
# of units:
Pool:
Living Area: 2,069
Bedrooms:
Land Use: Sfr
Year Built / Eff: 1965 /
# of units:
Pool: Pool
Pool:
Total Tax Value: $242,613 Bath(F/H): /
Tax Value: $251,974 Bath(F/H):
Pool: Total
/
Tax Value: $212,695
Bath(F/H): /
Total Tax Value: $272,658
Tax Value:
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
$245,370 Bath(F/H): /
Subject Property : 8948 E Old Spanish Trl Tucson AZ 85710 Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
8954 E OLD SPANISH TRL Distance 0.02 Miles
Owner Name : Edwards Matthew D
Sale Date : 12/01/2016
Total Value : $212,591
Bed / Bath : / 2
Land Use : Sfr
Stories : 1
Subdivision : Blue Ridge Estates
Recording Date : 12/07/2016
Sale Price : $164,200
Property Tax : $2,050.18
Lot Acres : 0.25
Living Area : 1,740
Yr Blt / Eff Yr Blt : 1970 / APN : 134-04-0390
8942 E OLD SPANISH TRL Distance 0.02 Miles
Owner Name : Mamad Roberto M
Sale Date : 08/17/2022
Total Value : $285,877
Bed / Bath : / 3
Land Use : Sfr
Stories : 1
Subdivision : Blue Ridge Estates
Recording Date : 08/18/2022
Sale Price : $419,000
Property Tax : $2,141.96
Lot Acres : 0.23
Living Area : 2,172
Yr Blt / Eff Yr Blt : 1970 / APN : 134-04-0410
8936 E OLD SPANISH TRL Distance 0.03 Miles
Owner Name : Withers Dwight A
Sale Date : 10/27/1988
Total Value : $229,671
Bed / Bath : / 2
Land Use : Sfr
Stories : 1
Subdivision : Blue Ridge Estates
Recording Date : 10/27/1988
Sale Price : $75,000
Property Tax : $2,198.12
Lot Acres : 0.19
Living Area : 1,886
Yr Blt / Eff Yr Blt : 1970 / APN : 134-04-0420
8960 E OLD SPANISH TRL
Distance 0.03 Miles
Owner Name : Barker Kathleen Subdivision : Blue Ridge Estates
Sale Date : 09/00/1980
Total Value : $203,708
Bed / Bath : / 3
Land Use : Sfr
Stories : 1
Recording Date : 09/15/1980
Sale Price : $72,500
Property Tax : $1,989.55
Lot Acres : 0.23
Living Area : 1,655
Yr Blt / Eff Yr Blt : 1970 / APN : 134-04-0380 Customer
Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
8939 E HARBORAGE DR Distance 0.04 Miles
Owner Name : Denker Family Subdivision : Halcyon Ridge Estates
Total Value : $304,592
Recording Date : 02/17/1966
Bed / Bath : / 2 Property Tax : $2,501.76
Land Use : Sfr
Lot Acres : 0.31
Stories : 1 Living Area : 2,763
Yr Blt / Eff Yr Blt : 1962 / APN : 134-04-0350
8955 E HARBORAGE DR Distance 0.04 Miles
Owner Name : Ross Larry E
Sale Date : 05/00/1993
Total Value : $310,143
Subdivision : Halcyon Ridge Estates
Recording Date : 07/14/1993
Sale Price : $89,000
Bed / Bath : / 3 Property Tax : $2,711.17
Land Use : Sfr
Stories : 1
Lot Acres : 0.40
Living Area : 2,541
Yr Blt / Eff Yr Blt : 1976 / APN : 134-04-0360
8930 E OLD SPANISH TRL Distance 0.04 Miles
Owner Name : Somogyi Daniel Joseph Subdivision : Blue Ridge Estates
Sale Date : 07/02/2018
Total Value : $212,850
Bed / Bath : / 2
Land Use : Sfr
Stories : 1
Recording Date : 07/18/2018
Sale Price : $189,200
Property Tax : $2,078.45
Lot Acres : 0.31
Living Area : 1,489
Yr Blt / Eff Yr Blt : 1971 / APN : 134-04-0430
8924 E OLD SPANISH TRL Distance 0.05 Miles
Owner Name : Noble Anne M
Sale Date : 02/25/2010
Total Value : $235,996
Bed / Bath : / 2
Land Use : Sfr
Stories : 1
Subdivision : Blue Ridge Estates
Recording Date : 03/02/2010
Sale Price : $203,000
Property Tax : $2,296.83
Lot Acres : 0.29
Living Area : 1,843
Yr Blt / Eff Yr Blt : 1971 / APN : 134-04-0440 Customer
Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
8966 E OLD SPANISH TRL Distance 0.05 Miles
Owner Name : Sasiadek
Total Value : $259,848
Bed / Bath : / 3
Land Use : Sfr
Stories : 1
Subdivision : Blue Ridge Estates
Recording Date : 07/24/1970
Property Tax : $2,507.01
Lot Acres : 0.29
Living Area : 2,184
Yr Blt / Eff Yr Blt : 1970 / APN : 134-04-0370
8913 E HARBORAGE DR Distance 0.06 Miles
Owner Name : Denker John S
Sale Date : 10/00/2002
Total Value : $299,373
Bed / Bath : / 3
Land Use : Sfr
Stories : 1.5
Subdivision : Halcyon Ridge Estates
Recording Date : 10/21/2002
Sale Price : $140,000
Property Tax : $2,689.82
Lot Acres : 0.38
Living Area : 2,395
Yr Blt / Eff Yr Blt : 1961 / APN : 134-04-0340
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Census Tract / block: 40.49 / 1 Year: 2020 Household Population Population by Age Count: 3,066 0 - 11 Estimate Current Year: 3,290 12 - 17 Estimate in 5 Years: 4,364 18 - 24 15.43% Growth Last 5 Years: 17.68% 25 - 64 44.52% Growth Last 10 Years: -82.19% 65 - 74 11.81% 75+ Household Size Household Income Current Year: 1,437 0 - $25,000 22.13% Average Current Year: 2.13 $25,000 - $35,000 7.79% Estimate in 5 Years: 2,399 $35,000 - $50,000 10.79% Growth Last 5 Years: 19.49% $50,000 - $75,000 20.25% Growth Last 10 Years: 14.61% $75,000 - $100,000 13.5% Male Population: 50.62% Above $100,000 25.54% Female Population: 49.38% Average Household Income: $53,696 Married People: 42.68% Unmarried People: 57.32% Housing Median Mortgage Payments Home Values Under $300: 1.02% Below $100,000: 4.35% $300 - $799: 38.8% $100,000 - $150,000: 7.94% $800 - $1,999: 50.7% $150,000 - $200,000: 23.3% Over $2,000: 9.48% $200,000 - $300,000: 40.85% Median Home Value: $219,800 $300,000 - $500,000: 22.54% Unit Occupied Owner: 54.35% Above $500,000: 1.02% Median Mortgage: $912 Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Rent Payments Year Built Unit Occupied Renter: 45.65% 1999 - 2000 Median Gross Rent: $951 1995 - 1998 Less Than $499 1.22% 1990 - 1994 $500 - $749 14.33% 1980 - 1989 11.42% $750 - $999 42.68% 1970 - 1979 23.23% $1000 and Over 41.77% 1900 - 1969 35.55% Education Enrollment Public Pre-Primary School: 0% Not Enrolled in School: 80.29% Private Pre-Primary School: 0.45% Not A High School Graduate: 6.93% Public School: 17.69% Graduate Of High School: 12.6% Private School: 2.03% Attended Some College: 38.25% Public College: 6.32% College Graduate: 26.81% Private College: 1.13% Graduate Degree: 15.41% Workforce Occupation: Manager/Prof: 37.68% Private Worker: 68.41% Technical: Government Worker: 19.67% Sales: 20.22% Self Employed Worker: 0% Administrative: Unpaid Family Worker: 4.43% Private House Hold: Farming: 10.69% Service: 28.03% Skilled: Protective Services: Blue-Collar: 14.07% Commute Time Less Than 15 Min: 20.65% 15 min - 28 min: 44.56% 30 min - 57 min: 26.06% Over 60 min: 8.73% Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Customer Name : Lisa Mrazek Customer Company Name : First American Title Insurance Company Prepared On : 02/05/2024 © 2024 CoreLogic. All rights reserved
Arizona Schools For detailed information and statistics on Arizona schools please go to https://azreportcards.azed.gov/ First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates. ©2021 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF 05117910421
COUNTY
05249570321 TUCSON INT'L AIRPORT Air Force WSilverbellRd SSantaRitaRd N M t L emmon Hwy ESascoRd NF38 W Avra Valley Rd E Grand Va ey Dr NAguirre R d N L u c k e R d N W e n t z R d N Wa terman Mounta i n R d N Anway Rd W El Tiro Rd N Trico Rd W Tucker Rd W Rudas l Rd W Manvi e Rd SSanJoaquinRd WBopp Rd W Snyder H l Rd S M a r s e a r R d W Park Rd W Hermans Rd W Hermans Rd W Guy St W Bush Rd S G a v e y R d N C a e R i n c o n a d o S W m o R d S Shaw Rd S Sierrita Mountain Rd S K o b R d W TwinButtes Rd W Mcgee Ranch Rd S E s t a n c a D r EDesertDove E Hemlock Dr N Bea r C a n y o n R d W E Camino Del Cerro E Fairmount St S Swan Rd NFrontageRd W Emigh Rd W Fort Lowe Rd N P u m p S t a t ion dR E Nona Rd Ch efButteRd Lo al Ave N Trico Rd S Cattle Tank Rd Evalyn Rd SOwlHead R a n c h Rd GasLineRd S P ec a n R d N T r c o R d W Bayard Rd S S a n d a r o R d W i l l owSpri n gsRd N Dove Mountain Blvd SHelvetiaRd WAnamax Mine Rd W G a c i a R a n hc R d Road424 WRagged Top Rd W Ruby Star Dr WBritten RanchRd W Pima Mine Rd S Mcgee Ranch R d E Edw n Rd SGuildRd 8 0 NKINNEYRD S PICACHO HWY E BAUMGARTNER RD N S A N D A R I O R D N ANWAY RD W VALENCIA RD W MOORE RD W INA RD N 1 S T A V E E SUNRISE DR E SNYDER RD NSILVERBELLRD N S O L D I E R T R L E RIVER RD E PRINCE RD E SPEEDWAY BLVD S FREEMAN RD E 22ND ST E 22ND ST W IRVINGTON RD S N O G A L E S H W Y W VALENCIA RD SMISSIONRD W SPEEDWAY BLVD S O L D S P A N I S H T RL W NARANJA DR W TWIN PEAKS RD W PICTURE ROCKS RD W MANVILLE RD SKINNEYRD W MILE WIDE RD E SAHUARITA RD N TRICO RD S S A N D A R O R D PARK LINK DR S OLD N O G ALES HW Y S H O U G H T O N R D S L A C A N A D A DR W HELMET PEAK RD WAJOHWY N S W A N R D S KOLB RD S HOUGHTON RD W TANGERINE RD E GRANT RD S H O U G H T O N R D 9 5 WAJOHWY E VALENCIA RD NORACLE R D I10 I-19 77 77 77 86 86 286 10 19 10 10 Corona de Tucson Casas Adobes Catalina Green Valley Oracle Picture Rocks Three Points Vail Summit Tanque Verde Tucson Sahuarita Red Rock Saddlebrooke Marana Oro Valley Rillito Summerhaven Willow Canyon Oracle Junction Cortaro Continental Littletown 20 30 13 15 51 39 12 01 01 08 10 16 11 06
map is provided for general location only. Please contact school districts for actual street boundaries SCHOOL DISTRICTS 15 AJO UNIFIED 111 N. Well Road, Ajo, AZ 85321 520.387.5618 51 ALTAR VALLEY ELEMENTARY 10105 S. Sasabe Road, Tucson, AZ 85736 520.822.1484 10 AMPHITHEATER UNIFIED 701 W. Wetmore, Tucson, AZ 85705 520.696.5000 16 CATALINA FOOTHILS UNIFIED 2101 E. River Road, Tucson, AZ 85718 520.209.7500 39 CONTINENTAL ELEMENTARY 1991 E. Whitehouse Canyon, Green Valley, AZ 85614 520.625.4581 08 FLOWING WELLS UNIFIED 1556 W. Prince Road, Tucson, AZ 85705 520.696.8800 06 MARANA UNIFIED 11279 W. Grier Road, Marana, AZ 85653 520.682.3243 11 PIMA COUNTY JTED 2855 W. Master Pieces Dr, Tucson, AZ 85741 520.352.5833 30 SAHUARITA UNIFIED 350 W. Sahuarita Road, Sahuarita, AZ 85629 520.625.3502 12 SUNNYSIDE UNIFIED 2238 E. Ginter Road, Tucson, AZ 85706 520.545.2000 13 TANQUE VERDE UNIFIED 2300 N. Tanque Verde Loop, Tucson, AZ 85749 520.749.5751 01 TUCSON UNIFIED 1010 E. 10th Street, Tucson, AZ 85717 520.225.6000 20 VAIL UNIFIED 10701 E. Mary Ann Cleveland Way, Tucson, AZ 85747 520.879.2000 First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates. ©2021 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF
PIMA
School District Information This
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.
PIMA,AZPage1of2Printedon2/5/20243:42:58PM
Document:SUBDIVISION_MAP17.54
Branch:FC0,User:LMRAComment:StationId:RL13
PIMA,AZPage2of2Printedon2/5/20243:42:59PM
Document:SUBDIVISION_MAP17.54
Branch:FC0,User:LMRAComment:StationId:RL13
DECLjVRATIOH OF
COVENAl-iTS, CONDITIONS AND RESTRICTIONS FOR
BLUE RIDGE TERR/iCE HORIZONTAL PROPERTZ REGIME
c.Y7-^7r
'ZONA ) .'.vr'-rj tlKl ll'.c v.'itJiln - :! I. No.'-, ii \ " .● 5^ - LA ●'O ●: ;a If'' i;.' ●. D--' iiv.O oil Sc-iUi t/. L T Fue: V-i- u n.
pme647 .7 i ■V*-'f] ‘>r i / !« / > »● . r ●( \ in ‘>1 -t.
Bira«446‘l
DECLARATION OF
COVENANTS, CONDITIONS AND RESTRICTIONS FOR
BLUE RIDGE TERRACE HORIZONTAL PROPERTI REGIME
WHEREAS BLUE RIDGE TERRACE, INC., an Arizona Corporation is the sole ov/ner of that real property sometimes herein referred to as the land, located in the City of Tucson, County of Pima, State of Arizona, described as follows:
BLUE RIDGE TERRACE - Block 1, bclnE a resubdivision of Blue Ridge Terrace Block 1, as recorded in Boole 22 of maps and plats at page 7^ thereof in Pima County, Arizona.
WHEREAS Blue Ridge Terrace, Inc., the sole owner of the above-described land desires to submit the above-described land to a Horizontal Property Regime pursuant to Title 33, Chapter ^1.1, Article I, Arizona Revised Statutes, and does hereby further declare said land subject to tlie following express conditions, covenants, restrictions, and stipuln1;lons as to the use and enjoyment thereof:
1. WAKE: mean as follov/s :
The name of this Horizontal Property Regime is Blue Ridge Terrace Horizontal Property Regime.
2. DEFINITIONS: The following terms, as used herein,
Apartment" means one or more rooms occupying all or a part of a floor or floors in a building of one or more
A. floors or stories, but not the entire building.
Building" or "Buildings" Includes the principal B. strunture erected or to be erected upon the land vjhich determines the use to be made of the improved land v/hether or not such improvement is composed of one or more separate buildings of one or more floors or stories. -2-
b(J0'k4464 ?;ibi648 r T -f .‘■I
C.
"Co-ov.Tier" means a person, corporation, part nership, or other legal entity capable of holding or o-vv-ning any interest in real property who owns all or an interest in an apartment within the building.
"Co-owner's interest" means the fractional percentage interest ascribed to each apartment,
D. or E. of the building.
F.
"Council of Co-owners" means all the co-owners
"General common elements" shall have the meaning set forth In Paragraph 5 hereof.
"Limited common elements" includes those ele ments designed for use by the owners of more than one but less than all of the apartments included in the building.
Majority of co-owners whose collective interest in the entire Regime as established by Paragraph 7 of this Declaration exceed 50^ of the interest of all co-owners in the entire Regime.
I. II Horizontal Property Regime in fee raents located thereon
) belonging thereto.
G. II H. II means those co-owners property" includes the land committed to the the building, all other improveand all easement, right, and appurtenances
II Regime" means the horizontal property regime J. established by this Declaration.
Declaration" means this Declaration of Covenants K. 5 Conditions and Restrictions.
L. II
Apartment occupant" means anyone vdio occupies an apartment, but who is not a co-owner.
M.
"Board of Governors" means that group of three persons elected by the Council of Co-owners shall be respon sible for the management and administration of the property with in the Horizontal Property Regime on behalf of the Council of Co-owners.
Biin«4464 PAGE049 -3f f 4.; / I, !
3. ENTIRE REGIME! The entire Horizontal Property Regime shall be composed of 92 apartments, numbered as follows:
BUILDING NO, 1: Apartment Nos. 1 and 2
BUILDING
3 and 4
5 and 6
7 and 8
9 and 10
11, 12, 13, 14, 15, 16
17, and 18
19, 20, 21, 22, 23, 24, 25, and 26
27, 28, 29, 30, 31, 32
33 and 34
35, 36, 37, 38, 39, 40
41 and 42
^3, 44, 45, 46, 47, 48
49 and 50
51, 52, 5:
57, and 5^
59, 60, 61, 62, 63, 64
65, and 66
67 and 68
69 and 70
71 and 72
73 and ?4
75 and 76
77 and 78
79 and 80
81 and 82
83 and 84
85 and 86
8 and 88
89 and 90
91 and 92
All as indicated on Exhibit "A" attached hereto and by
reference made a part hereof.
II It BUILDING NO. 3: II It 4: BUILDING NO. II II BUILDING NO. 5: II II BUILDING NO. 6: 11 It , BUILDING NO. 7: II 11 BUILDING NO. 8: II II , BUILDING NO. 9? II M BUILDING NO. 10: II II BUILDING NO, 11 54, 55, 56 II II , , BUILDING NO. 12 II It , BUILDING NO. 13 BUILDING NO. l4 BUILDING NO. 15 BUILDING NO. 16 II II II ti II II II II BUILDING NO. 17 BUILDING NO. 18 II 11 It II BUILDING NO. 19 II ii BUILDING NO. 20 II II BUILDING NO. 21 It 11 BUILDING NO. 22 It BUILDING NO. 23 BUILDING NO. 24 It 11 It II BUILDING NO. 25
NO. 2;
II II
?m650 -4r ●●I’j ●:/ » i j.:.)
B(I0h4464
Ca) Apartment Nos. shall include an apartment, one patio, a storage area appurtenant to the parking area, all as described in the Exhibit "B" attached hereto, together with the exclusive right to use and occupy either one or two of the parking spaces as referred to in more particularity in Paragraph 9 hereof, and together with an undivided interest in and to the common elements in the proportions set out in Paragraph 7 hereof,
1 )
(b) Apartment Nos. 11, 12, 13, l4, 1?, 16, 17, 18 19, 20, 21, 22, 23, 24, 2?, 26, 27, 28, 29, 30, 31, 32, 33, 3‘i35, 36, 37, 38, 39, 4o, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50 51, 52, 53, 5^, 55, 56, 57, 58, 59, 6o, 61, 62, 63, 64, 65, and 66 shall include an apartment, one patio or one balcony, the exclusive right to use and occupy one or more storage area located near the parking space, all as described in the exliibit "C" attached hereto together with the exclusive right to use and occupy either one or tv/o of the parking spaces referred to in more particularity in Paragraph 9 hereof, and together with an undivided interest in and to the common elements in the proportions set out in Paragraph 7 hereof.
(c) Apartment Nos. 67, 68, 75, 7o, 79, 80, 81, 82 83, 84, 87, 88, 91, aiid 92 shall include an apartment, one patio a storage area appurtenant to the parking area, all as described in the Exhibit "D" attached hereto, together with the exclusive right to use and occupy either one or two of the parking spaces as referred to in more particularity in Paragraph 9 hereof, and together with an undivided interest in and to the common elements in the proportions set out in Paragraph 7 hereof,
5 1 area,
um44S4
I mn ! KM \
Ij 2, 3, 4, 5, 6, V, 8, 9, and 10
(d) Apartment Nos. 69, 70, 71, 72, 73, 7^, 85, 86 89 and 90 shall include an apartment, one patio area, one common a storage area appurtenant to the parking area, all as described in the Exhibit "E" attached hereto, together with the ?fl(ifS51 -5r
exclusive right to use and occupy either one or two of the parking spaces as referred to in more particularity in Paragraph 9 here of and together with an undivided interest in and to the conunon elements in the proportion set out in Paragraph 7 hereof.
4-. CUBIC CONTENT; The descriptions of the cubic content space of the buildings, with reference to their location on the above-described land, are attached hereto, made a part hereof, and marked Exhibit "A". The descriptions of the cubic content space of each apartment, patio area, and appurtenant storage area are attached hereto, made a part hereof, and marked Exhibit 3", "C" "D" and " E” .
5. GEl-fERAL COMMON ELEMENTS; The general common elements consist of the land and the buildings as shown on Exliibit "A" excepting therefrom the apartments and their appurtenances as shown on Exhibits ''B" "C" , D" and "E" . >
6. LIMITED COMMON ELEl-IENTS: There are no limited common elements.
7. CO-OwNER'S INTEREST: Each apartment shall have an interest in the entire Horizontal Property Regime based upon the approximate proportionate area of each apartment to the total area of all the apartments within the Regime. Expressed as a percentage the entire Regime equals ninety nine and ninety eight one-hundreth per cent (99.98;^) and the interest of each apartment to the entire Regime is as follows (the apartment number design ations below correspond to the apartment number designations on Exhibit
i !■
"A" 1.555^ 1.55% 1.55% 1.55% 1.55% 1.55% 1.55% 1.55% 1.55% 1.55% 0.97% 0.97% Apartment 1 Apartment 2 Apartment Apartment Apartment 5 Apartment 6 Apartment 7 Apartment 8 Apartment 9 Apartment 10 Apartment 11 Apartment 12 4464 ?aceG52 auoK -6r«» , ;l
Apartment 13 Apartment InApartment 1? Apartment 16 Apartment I'" Apartment 1 Apartment 19 Apartment 20 Apartment 21 Apartment 22 Apartment 23 Apartment 2HApartment 2? Apartment 26 Apartment 27 Apartment 28 Apartment 29 Apartment 30 Apartment 31 Apartment 32 Apartment 33 Apartment 34 Apartment 35 Apartment 38 Apartment 37 Apartment 38 Apartment 39 Apartment 40 Apartment 4l Apartment 42 Apartment 43 Apartment 44 Apartment 4? Apartment 46 Apartment 4y Apartment 48 Apartment 49 Apartment 50 Apartment 51 Apartment 52 Apartment 53 Apartment 5*+ Apartment 55 Apartment 56 Apartment 57 Apartment 58 Apartment 59 Apartment 60 Apartment 61 Apartment 62 Apartment 63 Apartment 64 Apartment 65 Apartment 66 Apartment 67 Apartment 68 Apartment 69 Apartment 70 Apartment 7I Apartment 72 Apartment 73 Apartment 74 Apartment 75 0.97)^ 0.97)^ 0.97^:^ 0.97J? 0.97^ 0.97i^ 0,^7% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0,37% 0.37% 0.37% 0.37% 0.97% 0.37% 0.37% 0.37% 0.97% 0.97% 0.97% 0.97% 0.97% 0.97% 0.97% 0.97% 0.37% 0.37% 0.37% 0.37% 0.37% 0.97% 1.00% 1.32^ 1.32^ 1.00% 1.32% 1.00% 1.32| 1.00^ 1.00% 4 7AGe653 -7i
The air conditioning and heating units for each apartment are partially situate within the general and each such air conditioning and heating unit For each corresponding apartment
AIR CONDITIONING; common elements j the services one apartment. co-owner thereof shall be entitled to the exclusive use of such air conditioning unit and heating unit despite the fact that a portion of the apartment is situate within the general common Each co-o\-/ner shall be responsible for the repair and maintenance of the heating and air conditioning
elements. replacement units servicing his apartment.
on Exhibits IIC" 5 > parking spaces that shall be exclusively used and occupied with each apartment. On or before April 1, 1973» Blue Ridge Terrace Inc., the declarant, shall record in the office of the County Recorder, Pima County, Arizona, aji instrument specifically referring to this Declaration, which instrument shall designate the location the number of parking spaces that shall be exclusively used with each apartment, and the cubic content thereof. On or before April 1, 1973, Blue Ridge Terrace, Inc., the declarant, shall record -8r V T‘ r .f—'
1 5 5 5
Apartment Apartment 77 Apartment 78 Apartment 79 Apartment 80 Apartment 81 Apartment 82 Apartment 83 Apartment 85 Apartment 85 Apartment 86 Apartment 87 Apartment 88 Apartment 89 Apartment 90 Apartment 91 Apartment 92 1.32-Ji 1.00^ 1.32^ 1.00>g 1.32% 1.00^ 1.32^ 1.00^ 1.3252 1.32^ 1.00-2 1.00^ 1.32^' 1.32;2 1.0052 1.0052 1.32-^ 99.98^
9. EXCLUSIVE USE; Each co-owner of a numbered apartment "D" and "E" shall have the exclusive right to use and occupy either one or two of the parking spaces located within the general common elements. Blue Ridge Terrace, Inc., the declarant, shall determine the location of and the number of
In the office of the County Recorder Pima County. Arizona, instrument specifically referring to this Declaration, which
an j instrument shall designate the location and cubic content of the storage areas to which each apartment shall have the exclusive right to use and occupy.
10. EASEhiENT: If any portion of another apartment storage area, or the limited or general common elements, encroached upon any co-owner's apartment or storage area, a valid easement for such encroachment shall, and does exist.
11. GENER>\L PLAN:
J All co-owners, apartment occupants, without limitation, who at any time have an interest and others of any nature whatsoever in the property, are bound by this Declaration and shall comply sLrictly with the bylaws, rules and regulations adopted by the Council of Co-owners, or declarant and all future bylaws, rules and regulations adopted pursuant thereto, as eitlicr of the same may be lawfully amended from time to time. Failure to comply with any of the same shall be grounds for injunctive relief or damages, or both, maintainable by the Board of Governors or the Council of Co-owners, or its agents on behalf or the Board of Governors or the Council of Co-owners, in a proper case by an aggrieved co-owner. Nothing contained herein shall preclude the Board of Governors or the Council of
j or Co-ovmers, or its agents, or an aggrieved co-owner, from pursuing any other remedy available in equity or at lav?. The covenants, conditions and restrictions imposed within this Declaration constitute a general plan for the benefit of all the co-owners and except as otherwise herein specified, all of such covenants, conditions and restrictions shall be binding upon benefit of, shall benefit, and shall be enforceable by every coAll covenants, conditions and restrictions in this
inure to the J owner.
Declaration are Intended to and shall constitute covenants running with the land or equitable servitudes upon the land Failure to enforce any condition as may be restriction, covenant proper. 5
ROOK 4464 ?ai;e655 -90?;. I< )
or charge herein contained shall not constitute a waiver of the right to do so thereafter.
12. APARTl-IENT USE: Each co-owner shall use his apartment
The co-owner shall as a private dwelling and for no other purpose, not permit or suffer anything to be done or kept in his apartment parking space or storage area insurance on the property, or which will obstruct or interfere with the rights of other co-owners and apartment occupants of the building, or annoy them by co-owner commit or permit a nuisance, iruaoral about the property.
which will increase the rate of 1
unreasonable noises or otherwise; nor shall a or illegal act in or »
An ovmer may lease his apartment or apartments but shall remain responsible for all actions of the tenants and all terms and conditions of this instrument, the by-laws, rules and regulations are fully enforcable against both the o'wner and the tenant, their employees, guests and any one on the premises with their consent.
13. APARTMENT INTERIORS: Each co-Owner, or his agent shall have the exclusive right and ob3igation at the co-owner's cost to maintain, repair and rrfinish and keep in good repair the interior surfaces of the apartments, including but not limited to the doors ●,*indows, ceilings, floors, and perimeter walls of his apartment and the interior surfaces of the bearing walls encompassed within his apartment, and the storage area assigned to the apartment, and shall v/ater and maintain the patio or balcony belonging to that apartment. This paragraph shall not be construed as permitting any interference with or damage to the structural integrity of the building.
improvements or fixtures therefrom. j his employees penditure is paid by insurance proceeds.
mmi 1 f) Li.
1^+. EXTERIOR ALTERATIONS. The co-owner shall not, wlth- ) out the written consent of the Board of Governors make any structural 1 alteration in the common elements or common facilities or remove any The co-o-v/ner shall pay upon demand of the Board of -Governors any expenditures incurred to repair any damage to the general or limited common elements caused by him invitees or guests, except to the extent that the ex'i 1!
15- COUNCIL OF CO-OWNERS: The Council of Co-o’,mers shall consist of all co-owners.
(a) An annual meeting of the Council of Co-owners shall be held in the City of Tucson, State of Arizona, on the first Monday of October each year, with the first meeting to be held on the first Monday of November, 19?2, for the purpose of electing a Board of Governors and for such other business as may come before the meeting. If the day fixed for the annual meeting shall be a legal holiday, such meeting shall be held on the next succeeding business day.
(b) Special meetings of the Council of Co-owners for any purpose or purposes may be called to be held in the City of Tucson State of Arizona, by the Board of Governors, and shall be called by the Board of Governors upon, written request of voting owners represent ing not less than five apartments,
(c) It shall be the duty of the Board of Governors to mail or deliver a notice of each annual or special meeting stating the time and place it is to be held (and the purpose thereof, if a special meeting) to each voting owner, as hereinafter defined, at least five (5) but not more than ten (10) days prior to such meeting. The mailing or delivery of a notice in the manner provided in this section (c) shall be considered service of such notice. Unless a voting owner has filed with the Board of Governors a written statement setting forth his address at which notices to him shall be mailed or delivered, the Board of Governors shall send the notice to the apart ment in which the voting owner is the owner or part owner tnereof.
(d) Only voting owners shall be entitled to vote at any meeting of the Coiincil of Co-ovners. Voting owners representing not less than fifty (50) apartments shall constitute a quorm at a meeting of the Council of Co-owners,
(e) If any meeting cannot be organized because a quorum is not present by person or proxy, the voting owners who are present either in person or by proxy may adjourn the meeting to a time not less than 48 hours from the time the original meeting was BrnAm mSol -11
■■■■■■¥ 't: V i/f I -f.: ; \ t n
is advised of such sale transfer or convey- )
In the designation 5
called; provided that the Sscretary of the Board of Governors shall be notified of the time to which the meeting has been ad journed 30 that other voting owners may determine the time to which said meeting was adjourned by contacting the said Secretary, l6, VOTING OWNclRs Each apartment shall be entitled to one vote of equal weight in the Council of Co-owners. All of the co-owners of one apartoient shall designate a voting representative (herein called the voting owner) of such co-ovmers of said one apartment by written designation filed with the Board of Governors. Said voting ovrnier shall be entitled to vote for the apartment which he represents until all co-owners of such apartment have filed with the Board of Governors a written designation designating another representative of such apartment. A person may be the voting owner for more thaii one apartment. In the event of a sale assignment, sublease, transfer or other conveyance of all or an interest in an apartitient, or the death or jiidicial incompetence of a voting owner of such apartment which shall be made as herein established; provided, however, that until the Board of Governors assignment, sublease ance, or death or judicial incompetence, the existing designation of a voting owner shall be binding for voting purposes, event that all of the co-owners of one apartment fail to file a the co-owners of such apartment shall not be entitled to vote until such written designation is filed with the Board of A voting owner may cast his ballot in proxies must be filed in writing with the
Governors as aforesaid. person or by proxy.
Board of Governors before the appointed time of each meeting for In the event a voting owner is present which the proxy pertains, at the meeting, his proxy shall not be effective, be effective for so long a time as shall be set forth in said
A proxy shall proxy aiiQ if the time of the effectiveness of such proxy is not the proxy shall be effective until revoked by set forth therein the voting owner granting the proxy.
-12- 8odh4464 pm 858 '! I f
17 ● ANNUAL liEETING.
(a) At each annual meeting, the voting owners of the Council of Co-owners shall elect a Board of Governors consisting of five (?) voting owners. At the first annual meeting, two (2) members of the Board of Governors shall be elected for a term of one year, two (2) members of the Board of Governors shall be elected for a term of two years, and one (1) member of the Board of Governors shall be elected for a term of three years. At the e>:piration of the initial terra of each res pective member, his successor shall be elected to serve a term of three (3) years. Each member shall hold office until his successor has been elected.and qualified.
(b) Any member of the Board may be removed at any time with or without cause by the vote of voting owners represent ing not less than ?0 apartments at a meeting called for the purpose of effecting such removal.
(c) A vacancy on the Board because of death resignation, removal, disqualification, or otherwise, may be filled by the Board of Governors until the next annual meeting of the Council of Co-owiiers, at which time an election shall be held to fill the ’onexpired portion of the term, be unable to agree upon a replacement vathin fourteen (14) days after the creation of a vacancy, they shall call a special election of the Council of Co-o\jners to fill such vacancy for the balance of the unexpired term.
If the Board of Governors shall
Except as 5 Inc. voting owner. Except as aforesaid, at any time a member of the Board of Governors ceases to be a voting owner, he shall automatically be disqualified from serving on the Board. Rules of conduct of the
1.-
-13“
(d) The first Board of Governors shall consist of Yale Epstein, Mildred Epstein, Charles Bowf^n, Donald Y. Epstein and Ashby I. Lohse, who shall serve until the elections of their successors j at the first annual meeting of the Council of Co-owners, to the five aforenamed persons or any officer of Blue Ridge Terrace no person may serve on the Board of Governors vdio is not a <
affairs of the Board of Governors are established in the By-laws of this Regime which have been adopted pursuant to the Arizona Revised Statutes.
18, POV/BRS AND DUTIES OP BOARD OP GOVERNORS.- (a) The Board of Governors shall have the pov/or and duties necessary for the administration of the affairs of this Regime, including but not limited to the designation of a management agent and other personnel necessary for the maintenance and operation of the Regime. The Board of Governors shall be responsible for the management and administration of the property and shall make provision for the maintenance, repair and replacement of the general aJid limited common clenents and for obtaining fire and extended coverage insurance, and liability insurance as required herein,
(b) Not later than thirty (30) days prior to the beginning of each calendar year, the Board of Governors shall estimate the total amount necessary to carry out its responsib ilities for the next calendar year, including a reasonable reserve for contingencies and minus any expected surplus from the prior
The Co-owners of each apartment shall be assessed and shall year, pay one-ninety second of the total estimated annual assessment. The total annual assessment shall be divided into .twelve (12)
equal monthly installments. the 5
Each Co-ov/ner shall, on the first day of each calendar month, pay to the Board of Governors, or to such depository as may be designated by the Board of Governors monthly amount assessed, required to make any expenditure, the necessity for which was not foreseen at the commencement of the calendar year and for which there are not sufficient funds available, the Board may levy a
In the event the Board of Governors is
-lh~ b(!qk4484 pag^660 -W '●r.
special assessment which special assessfiient shall be charged to the Co-owners in the some proportion as regular assessments in
> accordance with the terms hereoi. The Co-owners shall pay such special assessment to the Board of Governors or to such depository as may be designated by the Board of Governors within thirty (30) days after the levy thereof.
(c) The Board of Governors shall establish a trust account to be maintained in a commercial bank doing business in Pima Cornty, Arizona, into which account the Board shall place all sums collected by assessment to be used and expended for purposes hereinafter set forth.
(d) The Board of Governors, its agents, employees or servants, shall have access to each apartment, storage area parking space, air conditioning and heating unit, during reasonable hours, as may be necessary to make emergency repairs for the main tenance, repair or replacement of any of the common elements or to prevent damage to another apartment or apartments. The co-owner shall be liable for all expenditure incurred for emergency repair of his apartment.
5
(e) The Board of Governors shall have the exclu¬ sive authority to pay out of the trust account for the benefit of all co-owners the following expenses, which are deemed common expenses:
(1) Water service for the general and limited common elements:
(2) Utility service for the general and limited common elements;
C3) All goods, materials, supplies, labor service, maintenance, repairs, alterations, land scaping, reconstruction, and other expenditures reasonable necessary for the convenient operation of the property exclusive of apartment interiors;
7; :^.:r .\ .1 1
-159^4464 rK' i
(^-) Vi'orkmGn's compensation insuranco;
(?) legal, accounting, management, and any other service contracted for by the Board of Governors if it is deemed necessary by them for the operation and maintenance of the property*,
(6) A Fidelity bond naming the Board of Governors as principal and the co-owners as obligees in an amount equal to;
(6)-a For the year 1972 and 1973 twice the estimated total receipts of the t:rust account;
(6)-b For all subsequent years, twice the total receipts of the trust account for the preceding calendar year;
(7) Maintenance and repair of any apartment if such maintenance or repair is necessary In the discretion of the Board of Governors, to protect the common elements, and the co-owners of said
) } apartment has failed or refused to perform such maintenance or repair within a reasonable time after written notice of the necessity of said maintenance or repair delivered or caused bo be delivered by the Board of Governors to said coo^mer. In such event, the Board of Governors 3 shall levy a special assessment against such apartment for the cost of said maintenance or repair;
(8) All costs of enforcing the provisions of this Declaration, including attorney's fees and court costs, provided that all costs incurred for the enforcement of the provisions of this Declaration against any co-owner shall be assessed specially against such co-owner; -16>
)
■f .1
(9) Insurance for the property, insuring it against loss or damage by fire and extended coverage risks, and such other hazards as they deem necessary in an amount sufficient to cover the full replacement cost of any repair or re construction work in the event of damage or destruction, and a public liability policy insuring all of the co-o\mers of the property and the Lessor and Lessee named in the Master Lease such policy to have limits of not less than C>500,000.00 in the event of injury or death to any one person, and t51,000,000.00 in the event of injury or death to more than one person from any single occurrence, and ^pl00,000.00 in the event of damage to any property, for such insurance shall bo common expenses. Nothing contained herein shall prejudice the right of each co-owner to procure insurance for his own benefit.
Premiums "If obtainable without any increase in the premium rate, any policy procured shall contain a provision prohibiting cancellation without first giving ten days notice thereof to all insureds named therein."
(f) The Board of Governors shall keep books with detailed accounts relating to the administration of the property and specifying the maintenance, repair and replace ment expenses of the common elements and any other expenses incurred. The books and the vouchers accrediting the entries made thereupon shall be made available for examination by any co-owner upon reasonable notice to the Board of Governors.
19. MONTHLY ASSESSI-ffiNTS: All co-owners shall pay all regvilar or special assessements imposed by the Board of and any other charges agreed upon by a majority of Governors > 8(in«4464 w;e663
-17r I J ●●
the Comcil of Co-owners. No co-owner may exempt himself from contributing toward such assessments by waiver, non-use or non-enjoyment of the general or limited common elements, or by the abandonment of the apartment belonging to him.
20. LIEN; A lien is hereby established on each apartment to secure payment of the amount of any assessment, whether regular or special, charged to such apartment pursuant to the terras hereof, and for any other sum advanced by the Board of Governors upon behalf of the co-owners of any apartment to which such advance relates, which lien and the right to fore close the s£ime shall be in addition to, and not in substitu tion for, all other rights and remedies which the Council of Co-owners and the Board of Governors may have to enforce the provisions hereof. Such lien shall be inferior and subordinate to. and shall not affect the prior rights of the holders of j and prior recorded first mortgage, whether not existing or here after made and recorded. In the event of default by any co-owner in the payment when due of any assessment secured hereby the Board of Governors may foreclose such lien by suit in like manner as a mortgage on real property, foreclosure
j In any such such co-owner shall be required to pay a reason able rental for his apartment commencing with the date fore-
» closure is filed and the plaintiff in such foreclosure shall be intltled to said rents and to the appointment of a receiver
the same. such purchaser shall
The Council of Co-o^vners of the Board to collect the same. of Governors on behalf of the council shall have the power to bid on the apartment at the foreclosure sale and to acquire and to hold, rent, encumber and convey the same. Suit to recover a money jT^dgement for unpaid common expenses shall be maintainable without foreclosing or waiving the lien securing Where a mortgagee of record or other purchaser at a Sheriff s Sale obtains title to the apartment as a result of being the purchaser at a Sheriffs Sale -18tM :]
not be liable for any regular or special assessments levied by the Board of Governors prior to acquisition of title by Sheriff's Deed by such purchaser. Such unpaid assessments shall be deemed to be common expenses^ collectible from the co-owners of all of the apartments, including such purchaser; his heirs, successors and assigns. There shall be a lien on the interest of such purchaser, to include all assessments, whether regular or special, charged to the apartment purchased after the date such purchaser, his heirs, administrators successors or assigns, has foreclosed his lien, free and clear of any statutory right of redemption. Said lien shall have the same effect and be enforced in the same manner as provided herein. Upon request by any-co-owner, the Board of Governors shali furnish, for the benefit of any prospective purchaser or present or prospective encumbrancer of such co-owner's apartment, a statement showing all amounts then due which are secured by such lien.
21. RIGHT OP FIRST REFUSAL: Except for testamentary transfers, or transfers made as a result of the application of the laws of intesba!:(:> succession, or transfers made between a husband and wife or transfers made to the issue of any co-
j hereinafter referred to as the owner, before any co-owner "selling owner, rent his apartment or any interest therein sliall procure in v/riting from the person, herein called the
) shall sell, transfer, assign, sublease or such selling owner ) "offeror," to whom the selling owner desires to sell assign, sublease or rent his apartment or any interest therein, herein called the "proposal, setting forth the name and address of the offeror and the transfer
H thereof, to the Board of Governors together with a written offer i
SGQK
r X
The selling owner shall deliver ^/il-e665
transfer j tt a bona fide written offer price, terms and conditions of the proposed sale assignmeiit, sublease or rental, the proposal, not later than five (5) days after the date -19f
herein called the selling owner's offer, signed by the selling owner to sell, transfer, assign, sublease or rent his apart ment or any interest therein to the Board of Governors or its nominee, in accordance with the exact terras and at the same price as set forth in the proposal. The Board of Governors shall forthwith, upon receipt of the selling owner's offer call a special meeting of the Council of Co-owners, except the selling o\mer shall, for the purposes set forth in this paragraph, be excluded from the Council of Co-owners. Not later than the 20th day after the delivery of the selling owner's offer to the Board of Governors, the Council of Co-owners shall either (a) cause the Board of Governors, acting as Trustees for the co-owners of the Regime, save and except the selling owner, to accept the selling owner's offer, provided that voting owners representing fifty (1)0) apartments cast votes in favor of acceptance of the selling owner's offer, or (b) if said fifty (50) affirmative votes are not cast in favor of accepting the selling owner's offer, the Board of Governors shall nominate to accept the selling owner's offer such co-owners who desire to accept the selling owner's offer and unless such co-owners agree to the contrary, such co-owner shall be entitled to accept the selling owner's offer as tenants in common having equal un divided interests in the selling ovmer's apartment, or (c) the Board of Governors shall, if said fifty (50) affirmative votes are not cast in favor of accepting the selling owner's offer, and no co-owner elects to accept the selling ov/ner's offer
> deliver in writing to the selling owner an instrument duly executed and aclmowledged by not less than three (3) members of the Board of Governors which instrument shall state that the selling owner has complied v/ith the provisions of this Paragraph 21 of this Declaration, and that for a period of thirty (30) days from the date of said instrximent, the selling owner may accept only the proposal made by the offeror.
} In the event the
4484 %ii(668 BUOit
■!
-20
Board of Governors accepts the selling ov.Tier’s offer in its capacity as Trustee, then the Board of Governors shall hold the apartment bought, transferred, assigi^ed, subleased, or rented, for the benefit of each of the co-owners of the Regime except the selling owner, iii an undivided proportionate interest that the interest of each co-owner in the Regime bears to the interest of all of the co-owners of the Regime other than the selling owner, whereupon each co-ovmer, other than the selling owner, shall be specially assessed to fulfill the terras of the contract created by the acceptance of the selling owner's offer and to maintain the selling owner's apartment in accordance with this Declaration. Until the Board of Governors shall have no further interest as Trustee in the selling owner's apartment, all subsequent actions relating to the selling o'wner's apartment shall be decided by a decision of the majority of the Board of Governors acting
The provisions of^this Paragraph in their capacity as Trustee.
21 shall not apply to:
(a) Any mortgagee who is the purchaser at a sheriff s sale of any apartment; hov/ever, this provision does apply to any other purchaser at such sale and to all subsequent transferees of such mortgagee.
1
(b) Blue Ridge Terrace, Inc., but not any assignee thereof or sublessee therefrom.
phrase II } 5
I Notwithstanding anything to the contrary herein it is the intention of this Declaration that the the price, terms and conditions of the proposed sale transfer, assignment, sublease or rental" as used in this Paragraph 21 means a price to be paid in legal tender of the United States B[)nK4464 miSul -21T
Any sale, transfer, assignment, sublease, or rental of any apartment or interest therein, made except in strict compliance with this Paragraph 21 shall be void and in addition thereto all of the provisions of Paragraph 23 of this Declaration shall apply, contained
of America. 3y definition the said phrase does not include the right to accept any commodity or other property in trade in lieu of legal tender of the United States of America."
22. ALTERATIONSs A proposal for any structural altera tion or addition to a building may be made at any duly held regular or special meeting of the Council of Co-owners provided that such proposal shall be agreed upon by the affirmative vote of voting owners representing not less than sixty (60) apartments. Unless otherwise agreed by said voting owners representing sixty (60) apartments, the cost of the altera tions or addition agreed upon shall be paid from the trust account, and the Board of Governors shall levy a special assessment to cover said cost.
23. VIOLATIONS: Violation of any of the covenant conditions or restrictions herein contained or of the By-laws Rules and Regulations of this Regime shall give to the Board of Governors and/or the Council of Co-owners
j the right to 1 enter an apartment and abate or remove at the expense of the co-owner, any construction, thing or condition that may be or exist therein contrary to the provisions hereof or said By-laws Rules and Regulations without being deemed guilty of any manner
1 j of trespass. Every action or omission whereby any covenant, condition or restriction or any By-law, Rule or Regulation violated, in whole or in part, shall render it lawful for the Board of Governors or the Couricil of Co-owners
is to prosecute any proceedings at law or at equity against the person or persons violating or attempting to violate any such covenant condition or restriction and either to prevent him or them from 30 doing or to recover damages for such violation.
5 Should any such suit be instituted to enforce any provision of this Declaration or of rhe By-laws
Regime
Rules and Regulations of this the co-owner in violation of the provisions of this ) J
Declaration or of said By-laws
Rules and Regulations shall pay a reasonable attorney's fee for the plaintiff's attorney
il ^1 C r »
,-r> -22-
;F J ■vr. 'i
HOOK^
in the amount that is fixed by the Court of Jurisdiction.
2h. DESTEUCTION; In the event there shall be a partial destruction of the building by fire, or other hazard, the build ing shall be reconstructed or restored substantially in ac cordance with the plans and specifications used in connection with the initial construction of tne building and in the location set forth on Exhibits A", 11B", "C" and "E"; provided, however, the architect engaged by the Board of Governors to supervise such reconstruction or restoration may upon the approval of voting ov/ners representing sixty (60) apartments alter the plans and specifications in such manner as is approved by voting owners representing said sixty (60) apartments. In the event there shall be a total destruction of the building unless not later than ninety (90) days after the date of the
I'D" > } fire or other hazard creating the total destruction property has been withdrawn from the Horizontal Property Regime in accordance with Title 33i Chapter 4-.1, Arizona Revised Statutes, the building shall be reconstructed or restored substantially in accordance with the plans and specifications used in connection with the initial construction of the building and in the location set forth on ExJiiblts
the 1 "A" , tt B' "C" II D’‘ and "E" j provided, liowevcr of Governors to supervise such reconstruction or restoration
the architect engaged by the Board may upon the approval of voting owners representing sixty (60) apartments alter the plans and specifications, in such manner as is approved by voting owners representing said sixty (60) apartments,
2?. PAlUvGRAPH HE/lDIHGS: The Paragraph headings appear¬ ing in this Declaration are inserted as a matter of convenience only, and for reference purposes, and are not intended to be a part of thir- Declaration or in any way define, limit or describe the scope and intent of the particular paragraph to which they refer.
-23-
A 't 'X /. I
I
26: INDEPEITOENT PROVISIONS: The provisions hereof shall be deemed independent and severable and the invalidity or par tial invalidity or unenforceability of any one provision shall not effect the validity of enforceability of any other provision hereof.
27. CONSTRUCTION OF LAI^GUAGE: The language used herein shall be construed according to its fair and usual meaning. '<^enever the content of any provision shall require it singular number shall be held to include the plural number and vice versa.
the 1 All words used in any gender shall extend to and include all genders.
28. AMENDMENT: This Declaration may be amended in >/riting at any time by co-owners whose collective interest in the Regime exceeds oT collective interest of all of the co-owners of all of the apartments as set forth in the para graph 7 of the Declaration.
II Until and including December 3I II 5
1972, each person who may become a co-ovmer of any apartment within the Regime dees hereby irrevocable appoint Blue Ridge Terrace, Inc., as such co-owners's agent, to execute such amendment or amendments to this Declaration as Blue Ridge Terrace Inc., in its sole discretion, may deem to be in the best inter est of all of the co-owners of all of the apartments of the Regime. The agency created hereby is non-revocable ajnd consti tutes a power coupled with an interest so long as Blue Ridge Terrace, Inc., shall be a co-owner of any aparCmeht in the Regime. The agency hereby created shall be binding upon the heirs, executors, personal representatives, administrators successors and assigns of all co-owners of all apartments with in the Regime until and including December 13, 1972. Any amend ment to this Declaration shall specifically state the portions of this Declaration being amended, and the amendment hereof. Any amendment shall be executed, acknowledged and placed of record '¥r:i -24■VI /● I
in the County Recorder's Office of Pima County, Arizona.
29. SUCCESSORS: Except as otherwise herein set forth this Declaration shall be for the benefit of and binding upon the declarant and its successors and assigns.
j
ATTEST Secretary
STATE OF ARIZONA ) ss. ) County of Pima
BLUE RIDGE TERRACE, INC and Arizona Corporation.
DECLARANT; ●
By^ <r_. *1 Preside
before me ) , who acknowledged themselves j seal. I
On this tile / 7 day of January, 1973 personally appeared Yale Epstei.n and Mildred A. Epstein to be the President and Secretary, respectively, of Blue Ridge Terrace, Inc., a corporation, and that they, as such officers being authorized so to do, executed the roregoing instrument for the purposes therein contained, by signing the name of the corporation by themselves as President and Secretary.
IN VriTNESS V/HEREOF, I herejunto set my hand and official
Notary Public
My"Cbmmission expires:
I
{ /6- /●'/'7U y/-~ ^ ^ bgg«4464 %ue671 -25% ■S:-.
li I K y i.'k 1; f .) ri ? h V r i: \ mm V
OS fi ^I N id .1
;3HGiNi=!'l^i2i !'a;fi75-HlJ'33G
T<iVi 'sOO'^C f .r UrV35 X
●^cn-iT VS>'.
© 2 OO ■● C-:-**-.T- 35*> V
co*ai
●>C^;dV kV»^3SO J: ?riV,i^ TT r 1 c V L--_- ,-. r>.
>£»●■; ,i-,ii ^7“,< -jS ,0’.r \ 4* h
05
7A.'ZZ
●| rrr’^~T \- iC71 r r4 C ● ,*C1 I or. 3»- I,' 6'
E^©S>©^1 O) en ‘●S
It J
03: 8.x- i .OU' 9 :r Si B iP r**' i' I'SsDd'aVG’ X//& i ■; 0/-J Cr"- (f <i p^o^ '(-● C2 1 lr‘ T O' i;_i3 ;-r' ●● > r C^' I. i f. r pf l u .4 ? Jjf'n J ?5 r N (I).' '.I !i’ <T. «.
'DHINIO
12 O 2 T*
4- r 6 ‘e T-t g n t '(<) \ A iJ' r-v\ c-M-st;.-. n ,●^●^^^■J■Si.● nf.’ 1> i I l’"6
il /s .»> 'i- e> ‘Tl' ir '.V to <3 4 ●- '.i° I ●I I -V . r
t» ui *1^ I W 'J I a 3 K u u -Y 6. t-3-' r © i: J! i fwu‘
iiSit i..l ilfflBXT T ^1 ’■e .JJ ,t.-,c ,0-.4 .0*,S ,»J I ,va '.<=^ uSu iiaim
3 3inG=KDS MCPQNIM
r' r I 2>'-0
CJ t; ● s t rjTi c I. I ;i r_E f) r T1 W ( C:;^] n 2 w ] !“■ \' V-1 HI
I" 0 3 bJ Cl Cr=3
U' W r';.. f“ j I o > U 1 0 li. /●' Cr=3 15 I O (i^ r' ni p' Ir. \ o 1 o r 7. ●..T'J I 1:4 u IP !:>) ●{●2'-o- C y £.J- 'i\ S Ij T7V: ■. M M ( ,; ●I ' ■I .1. r q 0 c o «*● cn 0 ® in /i C‘
1 (j ( ;v l‘: © k: T I, L { I'l ru iX V4 tfl. 0 ,6 A
!?
●V—T"- r f" U' iics J". i. 5i to t 6 "●Q i- I ;'tcv 0-! n IP. HI ® f t NiQ -i I 11 p'i; i_. I 2^.. 7 , . \ -I ® '. ( I© r .'-o' ■■f- l- (P
C'.IjU If* Ali lO.'-.c- s f.t O'¬ '-S -rjij. -r\-. J- :.●'( I'ON’rAtiY WILLIA M M *3 c o L 0 t A t c M t c Tj .3 A a' A I U C 0 N A « I O N A M HI 3 tcl 3
imok4464 f*«cE674 I V I *>
a u, Kci - I* -.0 . I.UM :. r» nW" .u ''‘I^ '*'*■■■*■.' Api ^ C&'i f! n©'- V‘ <y i -rPZ t ; i'.’. .●. O' i > S1 i 11 M / .● J : .5,1,;.I,| »i.vi'.s'OXP'X? " V f i; vv - V u ;■, ..-j.i;'v v'v'i'i v'u'sVV'.-i’/';^ I'll "I.’ ;i:iJ!iJ
(f i H IP i ■. ft ii i!6S'5r< j 1 f ' ●* I ● ; !,w u ‘iui :r
4 r« !:● 5 Ml ! in ^ i* r Mr- i :-;;-iv.o ● - »● c Ml s: 5; ,r: ? j,u» iffr .1" 0 n C .5 ’ i I I ●● i'’ ? ~r fT 1 e i I (: .1 l‘i<ir ^5r '5 i t il 1 ;it IR
-1 0 Q' I I I 1 4) 1 Ci I- fi I II IH !> W ¥nl [- —ii !0 -1 r Jl ●t t or r > y a 'n u 2 -ii.
nm: zm G (gH H ( P) '1s^i *J f^:=r—I CO;/ 0 ]o i-j : 11 w i ‘]j C, \- IP C-i A’ 0-; ijlQlC
era ..._o d'i I'. ijV n"\ 'Hitt 0 (g5^ : ●i Pi H
./ l1. ■v/- ●, :~U 5- ●i-' 01 c 1 -V ^ --r—l.:.' M ,'i' l-r. ; ;;.H
●'.●fTT 3^~ j£- S' p X cfu \ cQ
VO- CT3 ■■-d-- ZD —cn ; ■-● ■;' I ;n '.u.-r ro I G- y ... tk $ n. vC J -i e V -n n. i. i i-rt- I J IXJ ●l ‘s; 3 I -● 'T’.n* 3 4; ●● i 11 O ■: .'● i: If ■■ 01 ●● '^;0 )● V M :'^i 1 --r\r r X 5. j-r- ●. l t K .Q,£
’u.' / l> f ....I.':,2 « r ri*J ? T a I®; 1 IL dl L.. i.-.i' { ● r:; 4* .. > ●-1 .1. z='-J K mm 7971 ; > l.< o -T7. IK i J. H Kl 4 O a i«m»ii464 ?*t675 ;
J
1 o CP 1 S O .\M X 3 cj: O N-V~.<d iOO -. ti a MOO I 1 .1 T I** ‘3 ■a I oi _j: / [;> “U t.' ■' ■47 ^C> 1-' 3 I'*- Or .f^i. ●■ 0 4 1<1 f .●● ii j-S r" I r* t U m s I / ‘sol:^ 91 ■x I ●-J o !l t (U r. i »— ini .*>1 .1 ' MV { 6 rj V cl w o d A j- 4\* n q £i 1, JC ); () ') ::c I' /■t- ■i Cl Li (7,. T C- Lil n ●1 I', I. 'o C: (t. l^ .4 »J.i M 8 1 n—n-*' v&» c-:' ;ll I i r Cl- ●J; .a> =ir
i 'I oriiN'C^P B it f “ II THT 3 j c u TC Cl ti > or !?- IL. .i. 1 j Hi. Jl. n '1 -J ●nassQ / I 9-- L
n CD 0. V (I O fr A X ;j V T ct 1 n'V o d A X H VI d A -s.a s
U 1 i.Ll; [LI > > X l.y ._Li T K, U rt u 1 It c. r; t i J1 L il . r 'I uOii ilfllHZS s ●a. i;i .●●●●» .1 ‘i.:r ●O*.
I
EZHIBir i; I D j ●:t u< ‘■SZ^ 0
'K SIEIBIT w * / 11 i'.o’ r* ;Xr lO r''. ac^-.n ●'.. 0 c \®y ,/ 35 .9 ●■-i- V- 9-4' — “1 “■ «-i »i STUDS snituit ?^iiC^'ac. w.w ^ SED?:CC?Vi C3 -TWO trti^KSO "-●T <●* ^ ta n ● :05&.0 SO M A<t(. O. * 5. STC^SV 4^ LA)TH.C
to the Title & Escrow Process in Arizona Home Seller’s Guide
Southwest Gas 1.877.860.6020 www.swgas.com Cox 602.277.1000 www.cox.com Direct TV 1.888.777.2454 www.directv.com Dish Network 1.800.823.4929 www.dishnetwork.com CenturyLink 800.366.8201 www.centurylink.com AT&T 1.800.222.0300 www.att.com Verizon 1.877.300.4498 www.connecttoverizon.com Salt River Project 602.236.8888 www.srpnet.com APS 602.371.7171 www.aps.com Your Escrow Number Your New Address City/State/Zip Real Estate Agent Name Email Assistant Email Company Phone Address Fax Insurance Previous Company Phone Previous Agent Policy No. New Company Phone New Agent Policy No. Home Warranty Company Policy No. First American Title Escrow Officer Email Escrow Assistant Email Address Phone City/State/Zip Fax 02 Quick Reference 03 Welcome 04 Benefits of Using a REALTOR ® 05 Key Professionals 06 Preparing Your Home for Sale 07 Staging Your Home for Show 09 Terms You Should Know 10 The Life of an Escrow 11 Closing Costs: Who Pays What 12 The Escrow Process 14 Understanding Title Insurance 16 Consider This 17 Closing Your Escrow 18 Planning Your Move Q uick Reference Table of Contents Utilities and Services
Count on First American Title
Welcome to the home-selling process. Throughout this process, you can count on First American Title to guide you smoothly through your transaction and provide expert answers to your questions. We are happy to serve you.
First American Title’s professionals are proud to provide the title insurance that assures people’s home ownership. Backed by First American Title Insurance Company, your transaction will be expertly completed in accordance with state-specific underwriting standards and state and federal regulatory requirements.
First American Title has a direct office or agent near you, offering convenient locations throughout Arizona. We also have an extensive network of offices and agents throughout the United States, and internationally.
First American Title is the principal subsidiary of First American Financial Corporation, and one of the largest suppliers of title insurance services in the nation. With roots dating back to 1889, we’ve served families for generations.
First American Financial Corporation offers more than title insurance and escrow services through its subsidiaries. Our subsidiaries also provide property data, title plant records and images, home warranties, property and casualty insurance, and banking, trust and advisory services.
AZ Sellers Guide | 3
On Us For Service
On Us For Stability
On Us For Convenience
On Us To Meet Your Needs
Count
Count
Count
Count
Benefits of using 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.
A
REALTOR ® :
› 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.
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!
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 skills needed to sell your home?
- know how to determine your home’s current market value?
- know how to determine whether or not a buyer can qualify for a loan?
- understand the steps of an escrow and what’s required of you and the buyer?
- 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?
- know how to advertise effectively and what the costs will be?
- understand the various types of loans buyers may choose and the advantages and disadvantages for the seller?
- have arrangements with an escrow and title company, home warranty company, pest-control service and lender to assist you with the transaction?
Are you...
- aware of conditions in the marketplace today that affect value and length of time to sell?
- concerned about having strangers walking through your home?
- familiar enough with real estate regulations to prepare a binding sales contract? Counter-offers?
- aware that every time you leave your home, you are taking it off the market until you return?
- aware that prospective buyers and bargain hunters will expect you to lower your cost because there’s no REALTOR® involved?
- prepared to give up your evenings and weekends to show your home to potential buyers and “just-looking” time wasters?
AZ Sellers Guide | 4
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 REALTOR.®
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.
AZ Sellers Guide | 5
PREPARING FOR SALE YOUR HOME
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.
First impressions have a major impact on potential buyers. Try to imagine what potential buyers 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:
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.
AZ Sellers Guide | 6
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.
AZ Sellers Guide | 7
AZ Sellers Guide | 8
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
AZ Sellers Guide | 9
The Life Of An Escrow
THE BUYER
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.
Buyer consummates loan, executes settlement documents, & deposits funds via wire transfer.
Documents are recorded and the keys are delivered!
THE SELLER
Chooses a Real Estate Agent
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.
THE ESCROW OFFICER
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.
THE LENDER
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.
AZ Sellers Guide | 10
Closing Costs: Who Pays What
AZ Sellers Guide | 11 CASH FHA VA CONV 1. Downpayment BUYER BUYER BUYER BUYER 2. Termite (Wood Infestation) Inspection (negotiable except on VA) SELLER 3. Property Inspection (if requested by buyer) BUYER BUYER BUYER BUYER 4. Property Repairs, if any (negotiable) SELLER SELLER SELLER SELLER 5. New Loan Origination Fee (negotiable) BUYER BUYER BUYER 6. Discount Points (negotiable) BUYER BUYER BUYER 7. Credit Report BUYER BUYER BUYER 8. Appraisal or Extension Fee (negotiable) BUYER BUYER BUYER 9. Existing Loan Payoff SELLER SELLER SELLER SELLER 10. Existing Loan Payoff Demand SELLER SELLER SELLER SELLER 11. Loan Prepayment Penalty (if any) SELLER SELLER SELLER SELLER 12. Next Month’s PITI Payment BUYER BUYER BUYER 13. Prepaid Interest (approx. 30 days) BUYER BUYER BUYER 14. Reserve Account Balance (Credit seller / Charge buyer) PRORATE PRORATE PRORATE 15. FHA MIP, VA Funding Fee, PMI Premium BUYER BUYER BUYER 16. Assessments payoff or proration (sewer, paving, etc.) SELLER 17. Taxes PRORATE PRORATE PRORATE PRORATE 18. Tax Impounds BUYER BUYER BUYER 19. Tax Service Contract SELLER SELLER BUYER 20. Fire/Hazard Insurance BUYER BUYER BUYER BUYER 21 Flood Insurance BUYER BUYER BUYER 22. Homeowners Association (HOA) Transfer Fee BUYER or SELLER BUYER or SELLER BUYER or SELLER BUYER or SELLER 23. HOA/Disclosure Fee SELLER SELLER SELLER SELLER 24 Current HOA Payment PRORATE PRORATE PRORATE PRORATE 25. Next Month’s HOA Payment BUYER BUYER BUYER BUYER 26. Home Warranty Premium (negotiable) BUYER or SELLER BUYER or SELLER BUYER or SELLER BUYER or SELLER 27. REALTORS®’ Commissions SELLER SELLER SELLER SELLER 28. EAGLE Homeowners Title Policy SELLER SELLER SELLER SELLER 29. Lenders Title Policy and Endorsements BUYER BUYER BUYER 30. Escrow Fee (NOTE: Charge seller on VA Loan) SPLIT SPLIT SELLER SPLIT 31. Recording Fees (Flat rate) SPLIT SPLIT SPLIT SPLIT 32. Reconveyance/Satisfaction Fee SELLER SELLER SELLER SPLIT 33. Courier/Express Mail Fees SPLIT SPLIT SELLER SPLIT THIS CHART INDICATES WHO CUSTOMARILY PAYS WHAT COSTS Note: Prorated items will appear on Closing Statement as charges for one and credits for the other.
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.
AZ Sellers Guide | 12
Your Escrow Professional May:
Open escrow and deposit good faith funds into an escrow account
Conduct a title search to determine the ownership and title status of the real property
Review the title commitment and begin the process of working with you and the title officer to eliminate the title exceptions the buyer and the buyer’s new lender are not willing to take subject to. This includes ordering a payoff demand from your existing lender.
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 buyer and seller to sign documents and deposit funds
Review documents and ensure all conditions are fulfilled and certain legal requirements are met
Request funds from buyer and buyer’s new lender
When all funds are deposited and conditions met, record documents with the County Recorder to transfer the real property to the buyer
After recording is confirmed, close escrow and disburse funds, including proceeds, loan payoffs, tax payments, and more
Prepare and send final documents to all parties
AZ Sellers Guide | 13
Understanding Title Insurance
The Title Industry & 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.
AZ Sellers Guide | 14
Compare First American’s Eagle Policy® for Owners
Protection from:
1 Someone else owns an interest in your title
2 A document is not properly signed
3 Forgery, fraud, duress in the chain of title
4 Defective recording of any document
5 There are restrictive covenants
6 There is a lien on your title because there is:
a) a deed of trust
b) a judgement, tax, or special assessment
c) a charge by a homeowner’s association
7 Title is unmarketable
8 Mechanics lien
9 Forced removal of a structure because it:
a) extends on another property and/or easement
b) violates a restriction in Schedule B
c) violates an existing zoning law*
10 Cannot use the land for a Single-Family Residence because the use violates a restriction in Schedule B or a zoning ordinance
11 Unrecorded lien by a homeowners association
13
14
15
16
17
19
Compare First American’s Eagle Policy® for Owners
21 Post-policy prescriptive easement
22 Covenant violation resulting in your title reverting to a previous owner
23 Violation of building setback regulations
24 Discriminatory covenants
Other benefits:
25 Pays rent for substitute land or facilities
26 Rights under unrecorded leases
27 Plain language statements of policy coverage and restrictions
28 Compliance with Subdivision Map Act
29 Coverage for boundary wall or fence encroachment*
30 Added ownership coverage leads to enhanced marketability
31 Insurance coverage for a lifetime
32 Post-policy inflation coverage with automatic increase in value up to 150% over five years
33 Post-policy Living Trust coverage
* Deductible and maximum limits apply. Not available to investors on 1- to 4-unit residential properties. Coverage may vary based on an individual policy.
As with any insurance contract, the insuring provisions express the coverage afforded by the title insurance policy and there are exceptions, exclusions and conditions to coverage that limit or narrow the coverage afforded by the policy. Also, some coverage may not be available in a particular area or transaction due to legal, regulatory, or underwriting considerations. Please contact a First American representative for further information. The services described above are typical basic services. The services provided to you may be different due to the specifics of your transaction or the location of the real property involved.
AZ Sellers Guide | 15
EAGLE ALTA Standard or CLTA
12 Unrecorded easements
Building
permit violations*
Restrictive covenant violations
Post-policy forgery
Post-policy encroachment
Post-policy damage from extraction of minerals or water
Lack of vehicular and pedestrian access
18
Map not consistent with legal description
Post-policy adverse possession
20
EAGLE ALTA Standard or CLTA
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.
AZ Sellers Guide | 16
Closing Your Escrow
THE CLOSING DISCLOSURE
Once the loan is approved and all invoices and paperwork have been provided, the lender and escrow officer will collaborate on the preparation of the Closing Disclosure (CD). In order to close on time, all paperwork and invoices should be submitted at least 10 days prior to the expected close of escrow date. The borrower must receive the CD at least three days* prior to consummation of the loan (typically the signing date). The escrow officer will also prepare an estimated settlement statement and inform the buyer of the balance of the down payment and closing costs needed to close escrow. *For purposes of the Closing Disclosure“business day” is defined as every day except Sundays and Federal legal holidays.
THE CLOSING OR SIGNING APPOINTMENT
The escrow holder will contact you or your agent to schedule a closing or signing appointment. In some states, this is the "close of escrow." In some others, the close of escrow is either the day the documents record or that funds are disbursed. Ask your escrow holder if you would like clarification about your state's laws.
You will have a chance to review the settlement statement and supporting documentation. This is your opportunity to ask questions and clarify terms. You should review the settlement statement carefully and report discrepancies to the escrow officer. This includes any payments that may have been missed. You are responsible for all charges incurred even if overlooked by the escrow holder, so it's better to bring these to their attention before closing.
The escrow holder is obligated by law to have the designated amount of money before releasing any funds. If you have questions or foresee a problem, let your escrow holder know immediately.
DON'T FORGET YOUR IDENTIFICATION
You will need valid identification with your photo I.D. on it when you sign documents that need to be notarized (such as a deed). A driver's license is preferred. You will also be asked to provide your social security number for tax reporting purposes, and a forwarding address.
WHAT HAPPENS NEXT?
If the buyer is obtaining a new loan, the buyer’s signed loan documents will be returned to the lender for review. The escrow holder will ensure that all contract conditions have been met and will ask the lender to "fund the loan."
If the loan documents are satisfactory, the lender will send funds directly to the escrow holder. When the loan funds are received, the escrow holder will verify that all necessary funds are in. Escrow funds will be disbursed to the seller and other appropriate payees. Then, the REALTOR® will present the keys to the property to the buyer.
AZ Sellers Guide | 17
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 trouble-free 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 your 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.
AZ Sellers Guide | 18
Your Notes:
AZ Sellers Guide | 19
Your Notes:
AZ Sellers Guide | 20
Your Notes:
AZ Sellers Guide | 21
1
623.299.3644
13940
2
623.537.1608
20241
E
3
623.551.3265
39508
NE
4
480.515
N
5
480.575.6609
7202
NE
6
480.551.0480
6263
7
480.563.9034
18291
SE
8
480.777.0051
2121
SW
9
10
11
SE
12
6877
First American Title Branch Locator
1 4 3 2 6 12 10 5 8 7 11 9 CRISMON SIGNAL BUTTE GOLDFIELD OLDWESTHWY SKINGSRANCH
Central Arizona
SUN CITY WES
T
W. Meeker Blvd, #119
Sun City West, AZ 85375
Meeker
N of
Blvd W of R.H. Johnson
THE LEGENDS
N. 67th Ave, #A-2
Glendale, AZ 85308
side 67th Ave/N of 101
ANTHEM
Mountain Dr, #128
N. Daisy
Anthem, AZ 85086
corner Daisy Mtn Dr/Gavilan Peak Pkwy
TATUM RIDGE
4369
Blvd, #A150
11211 N Tatum
Phoenix, AZ 85028
of Shea, E side of Tatum
CAREFREE
E. Carefree Dr, Bldg 1, #1
AZ
Carefree,
85377
corner of Tom Darlington/Carefree Dr.
SCOTTSDALE FORUM
N. Scottsdale Rd, #110 Scottsdale, AZ 85250 E Side Scottsdale/S of Lincoln
DC CROSSING
N. Pima Rd, #145
Scottsdale, AZ 85255
corner of Pima/Legacy
CHANDLER PORTICO
W. Chandler Blvd., #215
AZ
Chandler,
85224
Corner Chandler Blvd./Dobson Rd.
GILBERT SAN TAN
E. Williams Field Rd. #101 Gilbert, AZ
corner of Williams Field Rd./Val Vista Rd.
480.777.0614 1528
85295 NW
MESA
S. Stapley Dr, #123 Mesa, AZ
N of Baseline / W of Stapley
480.401.3738 1630
85204
RED MOUNTAIN
N. Recker Rd, #103 Mesa,
480.534.3599 1135
AZ 85205
corner
Recker & Brown
of
GOLD CANYON
480.288.0883
South Kings Ranch Rd, #5 Gold Canyon, AZ 85118
of 60/South Side Kings Ranch Rd.
Sellers Guide | 22
E
AZ
05110280223 For more information please contact your First American representative. www.firstam.com First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates. ©2023 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF