TSA 2-Sided Buyer Book 2011 new logo - Title Security · Application interview and lender obtains...

REALTOR Phone#: __________________ Mobile#: __________________ Fax#: __________________

LOAN OFFICER Company: ____________________ Phone#: ____________________ Mobile#: ____________________ Fax#: ____________________

TITLE AGENCY Escrow Officer: _________________ Phone#: _________________ Fax#: _________________ Address: _________________ Escrow#: _________________

INSURANCE COMPANY

Agent: ___________________ Phone#: ___________________ Policy#: ___________________

HOME WARRANTY COMPANY Company: __________________ Phone#: __________________

HOME INSPECTION COMPANY Company: ___________________ Phone#: ___________________

HOMEBUYING PERSONNEL

TABLE OF CONTENTS 1. Why Use REALTOR®? a. Real Estate Agency Disclosure & Election b. Buyer—Broker Exclusive Employment Agreement 2. Loan Information a. Maximize Your Chances b. Loan Process c. Loan Information d. LSU e. Pre-Qualification Form 3. Finding The Perfect Home a. Home Comparison Checklist b. MLS Abbreviations c. Making an Offer d. Get Protection e. Home Warranty f. Home Warranty Companies 4. AAR Forms a. Buyer Broker Exclusive Agreement b. Real Estate Agency Disclosure c. Attention Buyer d. Buyer Advisory e. Residential Resale Real Estate Purchase Contract f. Lead Based Paint Disclosure g. What is Lead Based Paint? h. Environmental Hazards i. Residential Pool Safety

5. Escrow & Title a. What is Escrow? b. Opening Escrow c. Closing Costs d. What Do I Pay For? e. Closing the Deal f. Closing Escrow g. What to Expect at Closing h. Life of an Escrow i. Title Insurance j. What You Don’t Know Can Hurt You k. It Can Happen l. Holding Title m. Owner Policy Comparisons 6. Moving Tips a. Helpful Hints for Moving b. 6 Week Checklist for a Good Move c. Final Steps to Ownership d. Important Phone #’s e. Tucson Information f. Helpful Websites g. Glossary of Terms 7. Maps a. Tucson Map b. Area Boundaries c. School District Map 8. Resources a. Public Schools b. Private Schools

1. WHY USE A REALTOR®?

Buying a home calls for your informed deci-sion based on the knowledge, judgment and guidance of a real estate broker or agent -- particularly on who is a REALTOR®. Unlike many real estate agents who are sim-ply licensed by their state to do business, REALTORS® have taken additional steps to become members of their local Board of REALTORS® and have agreed to act under and adhere to a Code of Ethics. This membership obligates them to be fair to all parties involved in the transaction, be it the buyer, seller or cooperating agent. Be sure your real estate agent is a REALTOR®.

REALTORS® do more… much more…than you think.

· A REALTOR® can help you determine how much home you can afford. Often a REALTOR® can suggest ways to accrue the down payment and explain alternative financing methods. · A REALTOR®, in addition to knowing the local money market, also can tell you what personal and financial data to bring with you when you apply for a loan. · A REALTOR® is already familiar with current real estate values, taxes, utility costs, municipal services and facilities, and may be aware of local zoning changes that could affect your decision to buy. · A REALTOR® can help familiarize you with the closing process.

WHY USE A REALTOR®

· A REALTOR® can usually research your housing needs in advance through the Multiple Listing Service -- even if you are relocating to another city. · A REALTOR® shows you only those homes best suited to your needs -- size, style, features, location, accessibility to schools, transportation, shopping, and other personal preferences. · A REALTOR® often can suggest simple, imaginative changes that could make a home more suitable for you and improve its utility and value. · A REALTOR®, though generally acting as an agent for the property owner, is bound and obligated by the Code of Ethics to give fair treatment to all parties in the transaction. · A REALTOR® is sensitive to the importance you place on this major commitment you are about to make. Count on this real estate professional to facilitate negotiation of an agreement satisfactory to both seller and

Working with a REALTOR® - Buying a Home

If you see a home as one of your most important invest-ments, the REALTOR® you work with could be one of your most valuable resources. As a home buyer, you can expect the commitment, integrity and expertise that you’ll find in REALTORS®. It is the business of a REALTOR® to work with you by understanding your home buying needs and showing you properties that fit your lifestyle and budget.

2. LOAN INFORMATION a. Maximize Your Chances b. Loan Process c. Loan Information d. Pre-Qualification Form e. LSU Form

With inventory diminishing daily and multiple offers becoming common, it is of great importance that you position yourself to have the “BEST CHANCE” to get your offer accepted. You enhance your chance of getting the home of your choice by doing the following: GET PRE-QUALIFIED FOR YOUR PURCHASE: This takes very little time and is based on unverified information. This identifies the price range for which you qualify and which fits your lifestyle. GET PRE-APPROVED FOR THE PURCHASE: This takes a bit more time but is of great value. This is based on verified information and credit approval. SUBMIT A STRONG COMPETITIVE OFFER: Submit the offer as if there will be multiple offers in an escalating market. INCLUDE SUBSTANTIAL EARNEST MONEY DEPOSIT: Acceptance of an offer is sometimes determined by the amount of the deposit. A larger amount may signify a bigger commitment to the seller. MINIMIZE OR ELIMINATE CONTINGENCIES: The fewer contingencies, the stronger the offer. MAKE A BUYER PROFILE AVAILABLE: Time on the job, flexibility, reason for purchasing the seller’s home, etc. BE PREPARED TO PREVIEW A NEW PROPERTY QUICKLY: Homes sell sometimes in hours. Be prepared to make decisions quickly and be accessible to change the terms instantly.

MAXIMIZE YOUR CHANCES

PREQUALIFICATION/INTERVIEW Application interview and lender obtains all

pertinent documentation.

ORDER DOCUMENTS Order credit report, appraisal on property, verification of employment,

mortgage and/or rent, and funds to close, landlord ratings, and commitment of title insurance.

LOAN SUBMISSION

The loan package is assembled and submitted to the underwriter for approval.

DOCUMENTATION

Supporting documents come in. Lender checks on any problems. Requests for any additional items are made.

LOAN APPROVAL

Parties are notified of loan approval and conditions.

DOCUMENTS ARE DRAWN

Loan documents are completed and sent to Title Security Agency. Borrowers come into Title Security Agency

for final signatures.

FUNDING Lender reviews the loan package. Funds are transferred by wire or check

to Title Security Agency.

Title Security Agency records the Deed and Deed of Trust with the County Recorder’s Office.

DISPERSAL OF FUNDS

ESCROW IS NOW OFFICIALLY CLOSED!!!!!!!!

THE LOAN PROCESS

The following information will be needed at your loan application: • Copy of accepted earnest money contract. • Residence addresses for past 2 years (landlord addresses if applicable). • Name and address of employers for past 2 years with W-2’s, 1099’s, etc. • Pay stubs showing gross monthly salary and all deductions, for 1 month period. • Names, addresses, account numbers, and balances of all checking and saving accounts. • Last 2 statements on all checking, savings, investments, IRA’s, etc., accounts. • Names, addresses, account numbers, balances, and monthly payments on all open charge accounts. • Addresses, loan information, and lease agreements on all other real estate owned. • Estimated value on all furniture, clothing, jewelry, and other personal property. • Face value and cash value of life insurance, retirement accounts, and profit sharing accounts. • Certificate of Eligibility and/or DD214 for VA loans. • Money for credit report and appraisal. • If self-employed, 2 years tax receipts with all schedules, YTD P&L statement with balance prepared by a CPA. • If incorporated, 2 years corporate tax returns. • Divorce decree, if applicable. • Complete bankruptcy papers, if applicable.

LOAN INFORMATION

PRE-QUALIFICATION FORM

LOAN STATUS UPDATE (LSU)

LOAN STATUS UPDATE

3. FINDING THE PERFECT HOME

a. Home Comparison Checklist b. MLS Abbreviations c. Making an Offer d. Get Protection e. Home Warranty f. Home Warranty Companies

Deciding on Your Dream Home While your real estate agent will offer professional assistance, only you can determine your home purchase priorities. Taking the following into account may help in selecting the right home for you. What features are you looking for?

Do you have the design of a house in mind, such as traditional, southwestern, or modern? What is the least amount of bed and bathrooms you will need? Are amenities such as garage space or pool a priority? Is low-maintenance landscaping a concern?

The price is right…or is it?

Most buyers’ first consideration is price. As you begin to view homes, make sure you can comfortably manage the monthly payments and that you will have enough cash to pay transaction costs and moving expenses.

Location, Location, Location!

Your decision on the neighborhood should depend largely on the size and age of your family, your income, and your personal preferences. Also, how accessible are major roads and highways? Are public services such as street cleaning, garbage collection, police and fire protection without charge? How does the cost of municipal taxes compare to similar municipalities? What is the standing of area schools?

Condition & Comfort

While a thorough home inspection will reveal the home’s integrity, considerations such as a new roof, electrical and plumbing upgrades, and efficiency of heating and cooling systems should weigh significantly in your selection of a property.

Does it Have Resale Potential?

Since most first-time homebuyers expect to purchase a bigger and better home someday, resale value should be an important factor in decision-making. Consider the following purchase and resale tips before buying:

• It's best to buy a modest home in the nicest neighborhood you can afford, rather than the most expensive home in a modest neighborhood.

• Two-bedroom/one-bath homes usually have less appeal; three and four bedroom houses are most popular among buyers

• Curb appeal is very high on a buyer’s list. Homes with a charming, well-maintained “street-view” appearance are easiest to resell.

FINDING THE PERFECT HOME

COMPARISON CHECKLIST

The House

Roof Condition ____________ ____________ ____________

Overall Exterior Condition ____________ ____________ ____________

Garage Size ____________ ____________ ____________

No. of Bathrooms ____________ ____________ ____________

No. of Closets ____________ ____________ ____________

No. of Bedrooms ____________ ____________ ____________

Central Air Conditioning

Living Room

Fireplace

Separate Dining Room

Family Room

Kitchen Eating Area

Refrigerator

Stove/Oven (Gas/Electric)

Home Buyer Checklist 1 2 3

Property Address ____________ ____________ ____________

Asking Price $___________ $___________ $___________

RESIDENTIAL LISTING ABBREVIATIONS

MAKING AN OFFER How much?

To ensure your offer is based on local market conditions, your agent will provide you with comparable sales information as well as comparable listings. A second criteria in making a sensible offer is determin-ing how fast homes are selling, and whether they are selling for close to the asking prices. In hot mar-kets, otherwise known as a 'seller's market' --well-priced homes sell for very close to the list price -- usu-ally within five percent. In slower-paced markets where prices are flexible, the gap between the list and sale price could be more than five percent.

Once you make your offer, one of three things will happen:

1) It will be accepted,

2) It will be rejected, or 3) you will receive a counteroffer.

If all goes well and the offer is accepted, you’ll want to then proceed with a Home inspection. If it's re-jected, you can still come back with a higher offer if you're really interested in the house. Fortunately, your agent is a professional negotiator and will work earnestly to bargain the deal in your favor.

Contingencies A contingency is a specified condition that must be met before a contract is legally binding. The two most common contingencies in home purchasing are 1) the house must pass the home inspection, and if not, the contract could become void, and 2) the borrower must obtain specific financing from a lending institution, but if the loan can't be procured, the buyer won't be bound by the contract. Essentially, a contingency protects you, the buyer, from being obligated to purchase a house based solely on an accepted offer. Earnest money Once an offer and its contingencies are agreed upon, the next step is to provide earnest money, proving the buyers commitment to purchasing the home. Also known as money given by a buyer to a seller as part of the purchase price, it binds a transaction and assures payment. Your escrow officer at your Title Company usually holds the deposit, and the amount will become part of your down payment. Withdrawing an offer Once you make an offer, can you take it back? In most cases the answer is yes, right up until the moment it is accepted, or even in some cases, if you haven't yet been notified of acceptance. However, ask your Realtor for professional advice on this matter.

Got Protection? To protect owners in the event of catastrophe, real estate insurance can be the best buy of a lifetime. There are varied insurance categories associated with home ownership, including these major types:

• Title insurance: Protecting owners in the event that title to the property is found to be invalid, coverage includes two types of policies; "lenders" policies, which protect buyers up to the mortgage value of the property, and "owners” policies, which protects owners up to the purchase price.

• Homeowners' insurance: Required when you take ownership,

coverage provides fire, theft and liability protection for the home as well as its contents.

• Flood insurance: Issued by the federal government and

generally required only in high-risk flood areas, this insurance provides as much as $250,000 in coverage for a single-family home, plus an added $100,000 for its contents. Your agent will explain which locations require such coverage.

How do you get insurance? It’s never too soon to shop around and compare insurance quotes. Be

sure to ask your agent about limitations, costs, and deductibles, and most importantly, if your homeowner’s insurance plan incorporates a guaranteed replacement cost policy. Since the Insurance company requires a couple of days to secure the policy, you should take care of this during the inspection period.

THE HOME INSPECTION

THE HOME INSPECTION

Your Home Inspection The AAR Residential Resale Real Estate Purchase Contract is intended to be a binding contract; therefore, the importance of performing your own inspection of a home before you decide to purchase it cannot be understated. Remember that while this is only a precursor to the professional inspection that will soon follow, your personal inspection allows you to pinpoint first-hand any potential problem areas that could cause you to change your mind about whether or not you buy the house.

In general, you are looking for such details as: structural cracks; musty smells; rotting floor-boards; roof leaks; peeling paint; cracked windows; broken appliances (including air conditioning and heating units); quality of tile, carpeting, and other flooring material; and/or any aesthetic (such as floor plan convenience, landscaping, or general home maintenance). In particular, you will want to make note of any serious flaws about which you will want to notify the professional home inspector.

Professional Home Inspection The purchase contract gives you the right to make any inspections of the property/premises for defects of any kind. Buying a home without having it professionally inspected first is about as risky as engaging in a game of Russian roulette. A professional inspection gives you more detailed information than an appraisal; information you need to make a wise decision. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to: (1) evaluate the physical condition (structure, construction, and mechanical systems); (2) identify items that need to be repaired or replaced; and (3) estimate the remaining useful life of the major systems, equipment, structure, and finishes. The inspection gives a detailed report on the condition of the structural components, exterior, roofing, plumbing, electrical, heating, insulation and ventilation, air conditioning, and interiors.

It is your responsibility to be an informed buyer!

Buyer’s Reasonable Disapproval After any/all desired inspections have been performed, your Realtor may ask you to complete an AAR Buyer Inspection Notice and Seller’s Response. You have three options on this form: (1) Premises Accepted- No Repairs Requested; (2) Repairs Requested; or (3) Cancellation. Remember, a professional home inspection report is not necessarily a “fix-it” list for the seller. However, if you determine repairs are deemed necessary, you and your Realtor should submit all reasonably disapproved items to the seller. The seller has the option to either repair those items or to refuse to do so. If the seller refuses to do so, you may cancel the contract or proceed without any obligation on the part of the seller to make the repairs. Your Realtor will be your greatest asset in handling all the negotiations for you in regard to reasonably disapproved items. Home Warranty Unlike home owner’s insurance, which is only used in the event of a catastrophe such as fire or storm damage, a home warranty is a renewable contract that combines the best characteristics of an insurance policy and a service contract. A home warranty plan covers home owners against unexpected failures of built-in mechanical systems and appliance failures due to normal wear and tear. A home owner need only notify the warranty company of a problem. The warranty company selects a local, licensed and bonded service technician to di-agnose and do the repair. The home owner merely pays a small deductible ($50-$100) for the service. The initial policy period is for one year; however, renewals are available. Ask your Realtor for specific information and read the policy for coverage and limitations.

THE HOME INSPECTION

4. AAR FORMS a. Buyer Broker Exclusive Agreement b. Real Estate Agency Disclosure c. Attention Buyer d. Buyer Advisory e. Residential Resale Real Estate Purchase Contract f. Lead Based Paint Disclosure g. What is Lead Based Paint? h. Environmental Hazards i. Residential Pool Safety

SAMPLE CONTRACT

BUYER ADVISORY

For a complete copy of the Buyers Advisory please go to www.aaronline.com

SAMPLE CONTRACT

WHAT IS LEAD-BASED PAINT? Effects of Lead-Based Paint Lead poisoning can cause permanent damage to the brain and many other organs and causes reduced intelligence and behavioral problems. Lead can also cause abnormal fetal development in pregnant women.

Background To protect families from exposure to lead from paint, dust, and soil, Congress passed Title X directing HUD and the EPA to disclose known information on lead-based paint and its hazards before the sale or lease of most housing built before 1978.

What is Required Before ratification of a contract for housing sale or lease:

• Sellers and landlords must disclose known lead-based paint and lead-based paint hazards and provide available reports to buyers or renters.

• Sellers and landlords must give buyers and renters the pamphlet, developed by EPA, HUD,

and the Consumer Product Safety Commission (CPSC), titled Protect Your Family from Lead in Your Home.

• Home buyers will get a 10-day period to conduct a lead-based paint inspection or risk

assessment at their own expense. The rule gives the two parties flexibility to negotiate key terms of the evaluation.

• Sales contracts and leasing agreements must include certain notification and disclosure

language. Sellers and real estate agents share responsibility for ensuring compliance.

(Note: This rule does not require any testing or removal of lead-based paint by sellers or landlords. )

For More Information For a copy of Protect Your Family from Lead in Your Home (in English or Spanish), call the National Lead Information Clearinghouse (NLIC) at (800) 424–LEAD, or TDD (800) 526–5456 for the hearing impaired.

GUIDE TO ENVIRONMENTAL HAZARDS Although it is unlikely that any home you purchase will contain substances that pose a health threat, it’s important to ask the question, “Is this a safe, secure home, free from potential hazards?” In recent years, new concerns have been raised regarding the natural environment, and substances such as radon gas and asbestos have provoked new questions about how and where we build homes and manage their upkeep.

What is Radon & Where is it Found? Radon is a colorless, odorless, tasteless gas that occurs worldwide in the environment as a byproduct of the natural decay of uranium present in the earth. Hence, radon that is present in surrounding soil or in well water can be a source of radon in a home.

Entering through small spaces and openings, such as cracks in concrete, floor drains, sump pump openings, wall/floor joints in basements, and the pores in hollow block walls, it can also can seep into ground water and remain entrapped there.

Therefore, if a home is supplied with water taken from a ground water source (such as a well), there is greater potential for a radon problem. The likelihood of radon in the water supply is greatly reduced for homes supplied with water from a municipal water supply.

Because testing is the only way to know whether a home has a radon problem, if you are buying a home, the EPA recommends:

• Having it tested for radon.

• Knowing its indoor radon levels, and asking the seller for their radon test results.

• If the home has a radon-reduction system, ask the seller for all information regarding the component

• For a new home, asking if radon-resistant construction features were used and if the home has been tested.

For further information on this environmental hazard, contact your local Radon Office.

State Radon Offices- Arizona (602) 255- 4845

RESIDENTIAL POOL SAFETY To educate residential pool owners on proper pool safety and the legal requirements of pool ownership, the Arizona State Legislature has passed A.R.S. § 36-1681 to prevent children from gaining unsupervised access to residential swimming pools. Pool Enclosure Requirements A.R.S. § 36-1681 requires that all residential swimming pools are enclosed by a barrier. Unless a local code** provides otherwise, the barrier must:

• Entirely enclose the pool area & be at least 5 feet high • Not have openings, handholds, or footholds that can be used to climb the barrier • Have no openings through which an object 4 inches in diameter can pass • Be at least 20 inches from the water’s edge & prevent direct access from the house to the pool.

If the wall of the residence forms part of the pool enclosure, there must be:

• A barrier at least 4 feet high between the residence and the pool

• A motorized safety pool cover that requires a key switch and meets the ASTM standards in F1346-91 (www.astm.org)

• Self-latching devices on all doors with direct access to the pool, and self-latching devices at least 54

inches above the floor on all emergency or rescue windows with direct access to the pool

• For all other open able windows with access to the pool or pool area: screwed in place wire mesh screens or a keyed lock that prevent opening a window more than 4 inch, or self-latching devices at least 54 inches above the floor.

Gate Requirements A.R.S. § 36-1681(B)(3) requires that all gates for the pool enclosure be: self-closing & open outward from the pool. The latches must be located at least 54 inches above the ground, or if on the pool side with a release mechanism:

• Located at least 5 inches below the top of the gate & so that no opening greater than ½ inch is within 24 inches of the release mechanism

• Secured at any height if secured by a padlock or similar device that requires a key, electronic opener,

or integral combination.

Above Ground Pools A.R.S. § 36-1681 (C)(4) requires that the exterior sides of an aboveground pool are non-climbable and a minimum of 4 feet high. Any access ladder or steps must be secured and locked or removed when the pool is not in use.

5. ESCROW & TITLE a. What is Escrow? b. Opening Escrow c. Closing Costs d. What Do I Pay For? e. Closing the Deal f. Closing Escrow g. What to Expect at Closing h. Life of an Escrow i. Title Insurance j. What You Don’t Know Can Hurt You

Webster’s vest pocket dictionary defines ESCROW as: “Deposit to be delivered upon fulfillment of a condition.”

As an escrow holder, Title Security Agency’s duty is to act as the neutral third party. We hold all documents and all funds, pursuant to the purchase contract and escrow instructions, until all terms have been met and the property is in insurable condition; then, we make the final exchange. We do not work for the seller or for the buyer; however, we are employed by ALL parties and act only upon MUTUAL WRITTEN INSTRUCTION.

OPENING ESCROW

“Opening Escrow” occurs when your REALTOR® brings in a contract with your earnest money deposit. The escrow officer needs to have all signatures on the purchase contract and related documents. We will accept the contract with final signatures of a party to be forthcoming. We will make arrangements to get signatures if a REALTOR® is unable to do so. Your escrow officer reviews the contract, receipts in the earnest money, orders the Commitment for Title Insurance, and prepares the documents required to close escrow. All of the documents are double checked by your escrow officer; however, it is the final responsibility of your REALTOR® to review the documents, explain them to you, and make any necessary changes or submit approval. We do our best to understand the contract as presented, to take all calls or return them promptly, and to send out documents in a timely manner. During the last few days of the month we are extremely busy closing escrows already in progress; there-fore, sometimes we are not quite as responsive . . . but your transaction is important to us and we will get back

WHAT IS ESCROW?

Any questions pertaining to loan fees and charges should be directed to your loan officer. Your Escrow Officer will review and explain your settlement statement at closing. The following is designed to help you understand some of the costs associated with closing and to show you cost saving policies offered through Title Security Agency of Arizona.

SOME TYPICAL CLOSING COSTS

TITLE INSURANCE PREMIUM Fee paid by an individual to insure the

buyer has a marketable title and the lender is in lien position.

REAL ESTATE COMMISSION

Fee paid to real estate broker for services rendered in listing, showing, selling, and consummating the transfer of property.

TRANSFER/ASSUMPTION CHARGES

Fee charged by the lender to allow a new purchaser to assume the existing

loan. Recording fees are assessed by the County Recorder’s Office to record document of a real estate transaction.

LOAN FEES

Fees charged by a lender in connection with the processing of a new loan. These may include points, origination fee, credit

report, appraisal, etc.

ESCROW FEES Fees charged by an escrow agent for

services rendered in preparing documents and collecting/disbursing funds necessary to consummate a real estate transaction.

ADDITIONAL SETTLEMENT CHARGES

Taxes, insurance, impounds and interest

CLOSING COSTS

SELLER

• Owners Title Insurance Policy • Real Estate Commission • 1/2 Escrow Fee • Escrow Fee for New VA Loan • Payoff Loans of Record and Required Fees • 1/2 Homeowners Association Transfer Fees • Homeowner Association Inspection Fee • Home Warranty • Judgment Lien(s), Tax Lien(s), etc. • Recording Charges to Clear Title • 1/2 Assumption/Change Records Fees

for Assumptions • Prorations for Unpaid Items • Unpaid Associations Dues, Mortgage

Payments, Accrued Property Taxes, etc.

BUYER

• Lenders Title Insurance Policy • 1/2 Escrow Fee (except on VA) • Recording Charges for Deed and New

Loan Security Instruments • 1/2 Homeowners Association Transfer Fees • All New Loan Charges, except those

required of the seller, including Interest from day of funding to first of next month

• Termite Inspection • 1/2 Assumption/Charge Records • Fees for Assumptions • Prorations for Prepaid Items • Next Association Dues, Mortgage Pay-

ment, etc. • Settlement Charges including Property

Insurance (fire and extended coverage) • 14 Months of Property Insurance

YOUR CUSTOMARY GUIDE TO CLOSING COSTS

• Appraisal Fee: By Agreement

Various fees charged by a lender for a new loan may be negotiated unless mandated by government regulations. Please check with your REALTOR® and/or loan officer for clarification.

WHAT DO I PAY FOR?

CLOSING THE DEAL

Prior to closing, make sure the following things are in place: • Most lenders require

homeowner’s insurance, so be ready to verify you’ve got it.

• The day before closing, you’ll want

a final walk-through of the property. Carefully inspect the premises and make certain all repairs and contract conditions are satisfied.

• Review the “Uniform Settlement

Statement” prepared by your title company itemizing the costs of all services you must pay at closing, then…..

Be prepared to provide a cashier’s or

certified check for your share of expenses on closing day.

One Step Closer to Ownership Also called "settlement" or "escrow," the closing process is the official transfer of ownership from seller to buyer. At this stage (except for cases of fraud) all seller commitments end, and the property legally becomes the responsibility of the purchaser. Involving the release of a deed, the signing of notes, and the disbursement of funds necessary to complete the sale, settlement is a synchronized effort of many groups. An impartial third party is entrusted with the job of seeing that the transfer of ownership takes place according to the terms of the written contract, then the closing agent holds any funds or documents until all the details have been settled and disburses them to the proper parties. Opening escrow simply involves visiting the office that handles closings, then handing over the deposit money and giving instructions for the transaction. Customarily, each party completes their papers separately, which typically takes one to two hours. When setting the closing date, some things to consider are: • Plan it near the end of your lease to prevent paying

unnecessary rent. • Does the time of year pose any tax implications? • Give yourself enough time to move

How much will the closing costs be? Generally, your closing costs, which include title searches, government taxes, notary fees, loan fees, escrow fees, recording fees, reconveyance fees, prorations and sales commissions, will range between 4 and 5 percent of your purchase price.

CLOSING ESCROW Your escrow officer will call you to make an appointment for you to sign your lender’s package as well as your deed, affidavit, and all other required documents. You should allow a minimum of 60 minutes for this process. If you would like, ask your REALTOR® and/or your loan officer to be present in case you should have questions. Bring the following items to your appointment.

• Identification. You must have a photo ID, which can be in the form of a current driver’s license or a current passport, and one other form of identification. Identification must be presented in order for your signatures to be notarized.

• Good Funds. Please plan ahead so that the necessary funds will be available at the time of closing. Your escrow officer will prepare a pre-audit for you prior to your signing, which will indicate the amount of funds required by you to close. The law requires us to have Good Funds, which consist of a Cashier’s Check or Certified Check drawn on an Arizona banking or savings institution or a Wire Transfer.

• Insurance. Proof of homeowner’s insurance on the property must be provided for your lender. Bring in the name, company, address, and phone number of your insurance agent.

If a new loan is being obtained, generally the signed loan package must be re-turned to the lender for review and subsequent funding of the loan. Upon the es-crow holder’s receipt of all GOOD FUNDS, including but not limited to the buyer’s closing funds, loan proceeds, and fulfillment of conditions and contingencies, the documents are then released for RECORDATION. Upon confirmation of recorda-tion, all funds are disbursed and closing packages provided to all parties.

LIFE OF AN ESCROW

1. Opening the Escrow- Items needed to Open Escrow ▪ Fully executed Purchase Contract ▪ Earnest money check ▪ Copy of listing ▪ New lender information ▪ Existing loan payoff/assumption information ▪ Cost estimate sheet

2. Processing the Escrow

▪ Escrow deposits earnest money check ▪ Escrow orders Preliminary Title Report from Title Department ▪ Escrow requests payoff or assumption information, homeowner’s association information, etc.

3. Title Examination

▪ Property is searched ▪ Property and parties are researched by the Title Examiner ▪ Preliminary Title Report is typed and sent to Escrow Officer, Agents, Sellers & Buyer

4. Escrow Closing Preparation

▪ Preliminary Title Report received by Escrow Officer and is reviewed for any surprises, I.e. tax liens, judgments, unknown liens of record, discrepancies in legal description, delinquent taxes, access problems, etc.

▪ Escrow advises Agents if additional information is needed to clear any surprises revealed by the Preliminary Title Report

▪ Escrow prepares for closing ▪ Escrow follows-up on receipt of the following if needed, per Purchase Contract: -Termite Report -Home Protection Plan -Buyer’s Hazard Insurance -New Loan Package -Payoff Information -Assumption Information -Repair Bills -Warranties ▪ Time for closing– loan documents are received and Escrow Officer ‘works’ the file to reflect

closing and advises agents of funds (if any) that are needed for closing ▪ Closing appointment times are set for Seller and Buyer with Escrow Officer ▪ Advise all parties executing document to bring a valid government issued picture, I.e. license, passport,

etc. ▪ Advise Buyer to bring in a cashier’s check or wired funds for closing ▪ Advise seller that pursuant to the Purchase Contract, they shall supply escrow with their Social

Security No.

LIFE OF AN ESCROW

5. Execution of Documents

▪ Buyer & Seller meet with Escrow Officer and execute all documents

6. Lenders Funds ▪ After all parties have executed the necessary documents, escrow returns loan package to

new lender for review and funding ▪ Lender funds the loan and lenders check or wired funds are sent to escrow for processing

7. Recordation

▪ After escrow receives all funds needed and have ascertained that all funds are ‘Collected”, original documents are sent to the Recorder’s office for recordation

▪ Once documents are recorded, escrow notifies Agents

8. Disbursement of Funds ▪ All Disbursements are made in accordance with the Settlement Statement

9. Policies Issued

▪ Purchaser receives Owner’s Title Insurance Policy ▪ New Lender receives ALTA Loan Policy

WHAT IS TITLE INSURANCE?

DEFINITION: A contract where by the Insurer for valuable consideration agrees to indemnify the Insured in a specified amount against loss through defect of title to real estate wherein the latter has an interest either as a purchaser or otherwise. PURPOSE: Title Insurance services are designed to afford real property owners, lenders, and others with interest in real estate, the maximum degree of protection from adverse title claims or risks. The financial assurance offered by a Title Insurance Policy from the Title Company is, of course, the primary aspect of title protection. The Policy affords protection both in satisfying valid claims against the title as insured and in defraying the expenses incurred in defending such claims.

THE TITLE SEARCH

Title companies work to eliminate risks by performing a search of the public records or through the title company’s own plant. The search consists of public records, laws and court decisions pertaining to the property to determine the current recorded own-ership, any recorded liens or encumbrances or any other matters of record which could affect the title to the property. When a title search is complete, The Title Com-pany issues a Commitment for Title Insurance (pre-lim) detailing the current status of title.

TITLE INSURANCE

WHAT YOU DON’T KNOW CAN HURT YOU!

When you buy an ordinary article like a coat, a radio, or a watch, you do not need to know whether the former owner is married, single, or divorced. You may buy stocks or bonds without caring whether the seller has a tax bill due. You may buy an automobile without worrying about whether there are any suits or judgments against the owner. But when you buy real estate, all of these things and many, many others can cause you untold trouble.

WHY IS BUYING REAL ESTATE DIFFERENT?

No other property has a useful life that compares with the life of land. Owners die, new ones succeed, but land goes on forever. Owners of goods may change their location at will, but land is immovable. Being both permanent and immovable, land lends itself to the absorption of innu-merable rights. Over the ages, this so impressed lawyers and jurists that they formed a separate body of laws for land. These laws, creating many types of rights in land, are so numerous and so complex that it is impossible in the very nature of things for there to be a mathematical certainly of ownership. For example, every lawyer is aware that there may be hidden defects in titles to land of which they cannot take cognizance in their opinion: defects arising from fraud, forgery, insufficiency of deeds, persons of unsound mind, demands of missing heirs, widow’s/widower’s dower, rights of divorced persons, rights of a child born after the making of a will, and many other circumstances that are liable to cause se-rious financial loss to the buyer of real estate.

WHEN YOU BUY REAL ESTATE

Tom Rowe was amazed to learn that his title examiner had missed a substantial sum in old taxes which had to be paid. Sam White had to move his garage because it was partly built on his neighbor’s property. The surveyor had made a mistake. Bob Smith saw a small fortune spent defending the title to his home when a man who only thought he had a better title carried his fight to the Supreme Court. Art Green was shocked to hear that there was an old mortgage outstanding on his home. A clerk had indexed it improperly. Fred Page handed over a substantial check because the man from whom he bought his home said he was single; however, when he died, it was discovered he was secretly married.

THE SECURITY OF YOUR HOME IS NO BETTER THAN THE TITLE TO THE PROPERTY.

There are many title troubles that can arise to cause the loss of your home . . . or your business property . . . or your mortgage investment. Title troubles not disclosed by the most careful search of the public records — called hidden hazards — are most dangerous. Because of them, your abstract may be perfect, but your title worthless. Owner’s title insurance protects you as well as your heirs from financial loss caused by title troubles. And the title insurer, without expense to you, will defend you against any attack on the title to your property as insured.

The ONE-TIME premium is small. The protection is GREAT!

IT CAN HAPPEN!!!

HOLDING TITLE

This document is intended for information purposes only. Each particular method of taking title has certain legal and tax consequences, thus you are encouraged to obtain advice from your Attorney and/or Certified Public Accountant to determine which way is best for you.

OWNER’S POLICY COMPARI-

6. MOVING TIPS

a. Helpful Hints for Moving b. 6 Week Checklist for a Good Move c. Final Steps to Ownership d. Important Phone #’s e. Tucson Information f. Helpful Websites g. Glossary of Terms

HELPFUL HINTS FOR MOVING The following is a list of items that will help you in preparation of your moving day!

⇒ Defrost and empty refrigerator ⇒ Have adequate funds available for the move (cash and checks) ⇒ Prepare transportation for pets and children ⇒ Notify post office of forwarding address (forms are available at the post office). ⇒ Notify your bank ⇒ Inform all subscriptions/magazines ⇒ Notify all credit card companies With the following utilities make sure to check for refund once all utility companies have been notified of moving date at the old residence. After this has been done, notify utility companies at new residence. ⇒ Telephone ⇒ Electric ⇒ Gas ⇒ Water ⇒ Cable ⇒ Garbage Pickup Obtain the following records before your move date. ⇒ Medical Records ⇒ Dental Records ⇒ Veterinary Records ⇒ School Transcripts Register the following items before your move date ⇒ Register to vote ⇒ Register children for school ⇒ Register vehicle ⇒ Apply for new drivers license (address change can be done online)

SIX-WEEK CHECKLIST FOR A GOOD MOVE

• Plan on spending entire day at house with movers. Don’t leave until movers

have gone. • Record all utility meter readings (gas, electric, water). • Stay with moving van driver oversee inventory of goods. • Give moving van driver directions to new home and numbers where you can

be reached prior to delivery. • Get routing information from moving van driver. • Review carefully and sign bill of lading and inventory, and keep your copy in a

safe place until all charges have been paid and all claims (if any) have been settled.

• Make final walk-through of house, including basement, attic and closets, to make sure it’s empty.

MOVING DAY

FINAL STEP…. OWNERSHIP Congratulations! Now that you’ve looked at properties, made an offer, obtained financing, and gone to closing, the home is officially yours. Yet, you’re probably wondering, “Is there any more to the homebuying process? “ First, the settlement papers you received at closing are extremely valuable, so hold on to them! In the short-term they can help establish tax deductions for the year in which the property was purchased, and in the future, if the property is sold, such papers will be important for tax purposes. Next, determine the status of the property utilities such as water, sewage, gas, electric and telecommunications. As of closing, you will want utility bills to be paid in full by the owners so without delay they can be transferred to your name for billing. Listed below are the areas major utility and service suppliers.

• Cable- Cox Communications (520) 748-1378 Comcast Cable (520) 744-1900 People's Choice TV (520) 917-3600

• Phone- Qwest Communications. 1-800-244-1111

• Motor Vehicle Division (520) 882-6245

• Solid Waste Management Department (Recycling) (520) 791-3175

• Tucson Electric Power Company (520) 623-7111

• Tucson Water Department (520) 791-4331

• Southwest Gas Corporation 1-800-766-9722

• Sun Tran-City Bus System (520) 792-9222 • Voter registration (520) 791-4213

Finally, make sure you change your address with the United States Postal Service. Should you want to avoid a trip to your local station, you can access their Mover’s Guide online at http://www.usps.com/moversguide/.

Ask the seller for the property’s equipment information; i.e. instruction booklet for the washing machine; information on how that timer-light above the front door works; how you re-code the

automatic garage door opener; how-to manuals for the refrigerator and the food disposal.

IMPORTANT PHONE NUMBERS

SHUTTLE & CHARTER Allstate Transportation Service ................................. 520-293-2233 Arizona Shuttle Service ...... 520-795-6771 Arizona Stagecoach ............ 520-881-4111 Catalina Limousine & Transportation Svc. ............ 520-710-8994 Convention & Group Services, USA ..................... 520-529-3900 Gray Line Tours .................. 800-276-1528 Mountain View Tours, Inc. .. 520-292-1183 MS Transportation .............. 520-327-4674 Sportsman Bus Company, Inc. ...................................... 520-574-2818 COLLEGES University of Arizona .......... 520-621-2211 Pima Community College ... 520-206-4500 University of Phoenix, Tucson ................................. 520-881-6512 LIBRARIES Columbus, 4350 E. 22nd St ................... 520-791-4081 Dusenberry - River Center, 5605 E. River Rd. ................ 520-791-4979 El Pueblo, 101 W. Irvington ................. 520-791-4733 El Rio, 1390 W. Speedway .............. 520-791-4468 Green Valley ........................ 520-625-8660 Himmel Park, 1035 N. Treat Ave. .............. 520-791-4397 Kirk - Bear Canyon, 8959 E. Tanque Verde ......... 520-791-5021 Main Library, 101 N. Stone Ave. ............... 520-791-4393 Miller - Golf Links, 9640 E. Golf Links Rd. ....... 520-791-5524 Mission, 3770 S. Mission Rd. ............ 520-791-4811 Nanini, 7300 N. Shannon Rd. .......... 520-791-4626 Sam Lena, South Tucson, 1607 S. Sixth Ave. ............... 520-791-4791 Valencia, 202 W. Valencia Rd. ............ 520-791-4531 Wilmot, 530 N. Wilmot Rd. .............. 520-791-4627 Woods Memorial, 3455 N. First Ave. ............... 520-791-4548 HOSPITALS El Dorado Hospital & Medical Center, 1400 N. Wilmot Rd. ............ 520-886-6361

Kino Community Hospital 2800 E. Ajo Way ................. 520-294-4471 Northwest Hospital 6200 N. La Cholla Blvd. ..... 520-742-9000 St. Joseph’s Hospital 350 N. Wilmot Rd. .............. 520-296-3211 St. Mary’s Hospital 1601 W. St. Mary’s Rd. ....... 520-622-5833 Tucson Medical Center 5301 E. Grant Rd. ............... 520-327-5461 University Medical Center 1501 N. Campbell Ave. ....... 520-694-0111 Veterans Administration Hospital 3601 S. Sixth Ave. ............... 520-792-1450 TUCSON PARKS AND RECREATION ........ 520-791-4877 YMCA-East ........................ 520-791-4877 YMCA-Central ................... 520-795-9725 YMCA-North ...................... 520-888-7716 YMCA-Northwest ............... 520-229-9001 ATTRACTIONS Arizona State Parks ............. 602-541-4174 Arizona-Sonora Desert Museum............................... 520-883-2702 ASARCO Mineral Discovery Center ................ 520-625-7513 Bird Cage Theatre ............... 800-457-3423 Boothill Graveyard & Gift Shop ............................. 800-457-3423 Bureau of Land Mgmt Tucson Field Office ............. 520-258-7240 Colossal Cave Mountain Park ..................................... 520-647-7275 Columbia University’s Biosphere 2 Center .............. 520-896-6200 DeGrazia Gallery in the Sun ...................................... 520-299-9191 Flandrau Science Center & Planetarium ......................... 520-621-7827 Gadsden Coffee Company .. 888-514-5282 International Wildlife Museum............................... 520-629-0100 Kitt Peak National Observatory ......................... 520-318-8200 Mission San Xavier del Bac ............................... 520-294-2624 VOTER INFORMATION InsideTucson.com/Voters Information Page Chamber of Commerce ....... 520-792-1212 Convention & Visitors Bureau 800-638-8350 Better Business Bureau ....... 520-888-5353

Mt. Lemmon Ski Valley ...... 520-576-1400 O.K. Corral .......................... 520-457-3456 Old Town Artisans/ La Cocina Restaurant .......... 800-782-8072 Old Tucson Studios ............. 520-883-0100 Pima Air & Space Museum . 520-574-0462 Queen Mine Tours ............... 866-432-2071 Reid Park Zoo ..................... 520-791-3204 Sabino Canyon Tours, Inc. .. 520-749-2327 Saguaro National Park East ...................................... 520-733-5153 Saguaro National Park West ..................................... 520-733-5158 The Tombstone Epitaph ...... 520-457-2211 Titan Missile Museum ........ 520-625-7736 Tohono Chul Park ............... 520-742-6455 Tombstone’s Historama ...... 520-457-3456 Trail Dust Town .................. 520-296-4551 Tucson Botanical Gardens .. 520-326-9686 Tucson Children’s Museum............................... 520-792-9985 AMUSEMENT PLACES AAA Free Games Galore 2374 S. Polaris Way ............ 520-883-4422 Aarons Family Billiards 3150 E. Ft. Lowell Rd. ........ 520-327-2990 Amazing Video & Redemption 3720 S. Park Ave. ................ 520-903-1423 Bedroxx Bowling ................ 520-744-7655 Brunswick Camino Seco Bowling 114 S. Camino Seco ............ 520-298-2311 Cactus Bowl 1630 S. Alvernon Way ........ 520-327-6561 Casino of the Sun 7406 S. Camino De Oeste ... 520-879-5443 Convention & Group Services 6262 N. Swan ...................... 520-529-3900 Craycroft Hobbies 1618 S. Craycroft Rd. ......... 520-748-1611 Desert Diamond Casino ...... 520-294-7777 Family Skate Center ............ 520-572-7528 Fiesta Lanes 501 E. River Rd. .................. 520-887-2695 Funtastics 221 E. Wetmore Rd. ............ 520-888-4653 Gameworks Studio Foothills Mall ...................... 520-297-4458 Gateway Ice Center 7333 E. Rosewood St. ......... 520-290-8800 Golf N Stuff 6503 E. Tanque Verde Rd. .. 520-885-3569 Justins Water Worlds & RV Park 3551 S. San Joaquin ............ 520-883-8340


Lucky Strike Bowl 4015 E. Speedway Blvd. ..... 520-885-3691 Magic Carpet Golf 6125 E. Speedway Blvd. ..... 520-885-3691 Paintball Headquarters 1097 W. Prince Rd. ............. 520-293-5850 4889 E. Speedway Blvd. ..... 520-320-0333 Pinnacle Peak 6541 E. Tanque Verde Rd. .. 520-296-4551 Santa Cruz Lanes 3665 S. 16th Ave. ................ 520-622-2186 Skate Country East 7980 E. 22nd St. .................. 520-298-4409 Skate Country North 2700 N. Stone Ave. ............. 520-622-6650 Sweet Celebrations 8712 E. Baker St. ................ 520-733-7013 Tilt, Tucson Mall ................. 520-887-6310 Trail Dust Town 6541 E. Tanque Verde Rd. .. 520-296-4551 Tucson Bowl 7020 E. 21st St. ................... 520-747-1363 Vantage Bowling Center 501 W. River Road .............. 520-887-2695 GOLF Arthur Pack Desert Golf Course 9101 N. Thornydale Rd. ...... 520-744-3322 Canoa Ranch Golf Club 5800 Camino del Sol, Green Valley ........................ 520-393-1966 Canoa Hills Golf Course 1401 Calle Urband, Green Valley ........................ 520-648-1880 Country Club of Green Valley 77 Paseo de Golf ................. 520-625-8831 Del Urich Golf Course 600 S. Alvernon Way .......... 520-791-4161 Dorado Country Club Golf Course 6601 E. Speedway Blvd. ..... 520-885-6751 Del Lago Golf Club 14155 E. Via Rancho Del Lago, Vail ...................................... 520-647-1100 Desert Hills Golf Course 2500 Circulo de Laslom’ Green Valley ........................ 520-625-5090 El Conquistador Resort 10000 N. Oracle Rd. ........... 520-544-1800 Forty-Niner Country Club 12000 E. Tanque Verde Rd. 520-749-4000 Fred Enke Golf course 8521 E. Irvington Rd. .......... 520-791-2539

Westin La Paloma Resort & Spa 3800 E. Sunrise Dr. ............. 800-663-4230 Ventana Canyon Golf & Racquet Club 6200 N. Club House Lane ... 520-577-1400 ARTS PROGRAMS Pima Community College Center for the Performing Arts 2202 W. Anklam Rd. ........... 520-206-6988 Summer Arts Department of Art ............... 520-621-7570 School of Music and Dance Music ....................... 520-621-1655 Dance .................................. 520-621-4698 Department of Summer Session ................................ 520-626-8200 Department of Theater Arts ...................................... 520-621-7008 University of Arizona/UA Presents Information ......................... 520-621-3364 Centennial Hall Box Office . 520-621-3341 DANCE Ballet Arts Foundation ........ 520-623-3373 Ballet Folklorico Arizona Ballet Folklorico San Juan .. 520-544-9543 Southern Arizona Dance Theater 3661 N. Campbell Ave, #586..................................... 520-690-7260 Tucson Regional Ballet ....... 520-886-1222 MUSIC Arizona Opera 3501 N. Mountain Ave. ....... 520-293-4336 Tucson Pops Orchestra North of 22nd St. on Country Club Rd. ................ 520-722-5853 Tucson Symphony Orchestra 2175 N. 6th Ave. ................. 520-882-8585 Borderlands Theater ............ 520-882-7406 The Players Children’s Theatrical Troupe ................................. 520-751-6419 ............................................. 520-721-9582 THEATER Arizona Theater Company, 40 E. 14th Street Box .......... 520-622-2823 Borderlands Theater ............ 520-882-7406 The Players, Children’s Theatrical Troupe ................................. 520-751-6419 ............................................. 520-721-9582

Golf Club at Vistoso 955 W. Vistoso Highlands Dr. 520-797-9900 Golf Villas at Oro Valley 10950 N. La Canada Dr. ..... 520-877-8591 Golf Tucson, a premium golf guide .......... 520-577-5247 Haven Golf Course 110 N. Abrego Dr., Green Valley ........................ 520-625-4281 Heritage Highlands 4949 W. Heritage Club Blvd., Marana ................................ 520-579-7000 Mountain View Golf Club 38691 S. Mountain View Blvd. .......................... 520-818-1100 Omni Tucson National Golf Resort 2727 W. Club Drive ............ 520-575-7540 Quail Canyon Golf Course 5910 N. Oracle Rd. ............. 520-877-6161 Quail Creek Golf 1425 E. Quail Loop, Green Valley ........................ 520-393-5802 Randolph Golf Course 600 S. Alvernon Way .......... 520-791-4161 Arizona National 9777 E. Sabino Greens Dr. .. 520-749-3636 Rio Rico Resort & Country Club 1069 Camino Caralampi, Rio Rico .............................. 800-663-4230 San Ignacio Golf Club 4201 S. Camino del Sol, Green Valley ........................ 520-625-0112 Silverbell Golf Course 3600 N. Silverbell Rd. ........ 520-791-5235 Starr Pass Golf Resort 3645 W. Starr Pass Blvd. .... 520-607-0300 Torres Blancas Golf Club 3233 S. Abergo Dr., Green Valley ........................ 520-625-5200 Trini Alvarez El Rio Golf Course 1400 W. Speedway .............. 520-791-4336 Tubac Golf Resort Tumacacori, AZ .................. 800-848-7893 Tucson & Scottsdale Golf Vacations ..................... 888-465-3125 Tucson Golf Alliance .......... 866-888-2766 Turquoise Valley Golf & RV Naco, AZ ............................. 520-432-3091


ARIZONA FACTS: State flower - Saguaro cactus blossom; State gem - Turquoise; State bird - Cactus wren; State tree - Palo Verde. For more information about Arizona, visit www.arizonaguide.com CONVENTION CENTER: The Tucson Convention Center is located in the heart of Historic Downtown Tucson and is the home of many events, cultural activities and conventions throughout the year (260 S. Church Ave., 791-4101 or 791-4266) CURRENCY EXCHANGE: All forms of currency can be exchanged at Arizona Stamp & Coin, 4668 E. Speedway Blvd., 795-1594 or 327-8800. DESERT LIFE: The Sonoran Desert is a fragile eco-system teaming with a variety of plant and animal species that depend on each other for survival; and law protects many of them. Please leave the desert just as you find it. Purchase cactus and other native plants at Tucson’s established desert gardens or cactus nurseries. DRESS: Southern Arizonans take a relaxed approach to dress, and casual clothing is acceptable for most occasions. Summer wear includes wide- brim hats, sunglasses and lightweight fabrics. In the warmer months, indoor air conditioning can get chilly for some, so be prepared with a lightweight jacket or sweater. Sunscreen to protect the skin is recommended year-round. In the winter, a lightweight coat or jacket will usually suffice, unless you’re planning to visit higher mountain areas where colder temperatures and snow are possible. NEWSPAPERS: The Arizona Daily Star, morning paper, 573-4220; the Tucson Citizen, afternoon paper, 573-4561; the Territorial, business news, 294-1200; Green Valley News, 625-5511; Explorer, 797-4384; www.arizonastarnet.com.

LIQUOR LAWS: Arizona law prohibits anyone younger than 21 to purchase or consume alcoholic beverages. The purchase, service or consumption of liquor is prohibited from 1 a.m. to 6 a.m. Monday - Saturday, and from 1 a.m. to 10 a.m. on Sunday. RADIO & TELEVISION: Radio -- 14 AM stations and 16 FM stations; Television -- Local channels are KVOA, 4 (NBC); KUAT, 6 (PBS); KGUN, 9 (ABC); KMSB, 11 (FOX); KOLD, 13 (CBS); KTTU, 18 (UPN); KHRR, 40 (Telemundo, Spanish); KUVE, 52 (Spanish); KWBA, 58 (WB). SALES TAX: State tax is 5.6%, city tax is 2%, county tax is 5%, and retail sales tax is 8.1% TICKET SALES · Tucson Convention Center Box Office 791-4266 · TicketMaster 321-1000 · U of A: Athletics 621-2287 · Fine Arts 621-1162 · Centennial Hall 621-3341 TIME ZONE: The State of Arizona is located in the Mountain Standard Time Zone (MST). Arizona is one of only two U.S. states that does not make an adjust-ment for Daylight Savings Time, during the months of April through October, Arizona time mirrors Pacific Daylight Time. METROPOLITAN TUCSON VISITOR AND CONVENTION BUREAU: Make your first stop the Tucson Metropolitan Visitor and Convention Bureau located in colorful La Placita Village within walking distance of the Tucson Convention Center and most of the historic downtown area. Hours are: Monday - Friday 8 a.m. - 5 p.m., Saturday & Sunday 9 a.m. - 4 p.m. Call 1-800-638-8350. Our mailing address is 100 S. Church Ave., Tucson, Arizona 85701.

TUCSON INFORMATION

HELPFUL WEBSITES Main Pima County Site www.co.pima.az.us City of Tucson www.ci.tucson.az.us Development Service www.dsd.co.pima.az.us Sub Plat Maps www.dsd.co.pima.az.us/subdevplans/ Plat Map Search www.dsd.co.pima.az.us/default.htm Dept. of Transportation Flood Control www.dot.co.pima.az.us The MapGuide GIS www.dot.co.pima.az.us/gis/maps/mapguide/ Maps www.mapquest.com Tucson Area Maps Online www.ci.tucson.az.us/maps.html City Limit Maps www.dot.co.pima.az.us/trafeng/citylim/ Assessor www.asr.co.pima.az.us Treasurer www.to.co.pima.az.us Property Search/Valuation www.asr.co.pima.az.us/apiq Recorder www.recorder.co.pima.az.us Recorded Documents Research www.recorder.co.pima.az.us/research.html Pima Association of Governments www.pagnet.org Orthophotography (aerial photos) www.pagnet.org/rdc/launch.html AZ County Government Links www.sosaz.com/election/2000/info/County.htm AZ Secretary of State www.sosaz.com AZ Revised Statutes www.keytlaw.com/az/ars.htm?source=Overture AZ State Corp. Commission www.cc.state.az.us AZ Dept. of Real Estate www.re.state.az.us/ FEMA www.fema.gov/ HUD www.hud.gov/ Pima County Flood Control www.dot.co.pima.az.us/flood/ AZ Department of Water Resources www.water.az.gov/adwr School Information www.greatschools.com Reverse Phone Directory www.reverseaddressdirectory.com/ School Directory www.greatschools.com Pima County School Test Scores www.azstarnet.com/public/packages/schooltest97/ City of Tucson Crime Statistics www.ci.tucson.az.us/police/Crime_Statistics/ crime_statistics.htm Tucson City Police www.cityoftucson.org/police Marana Police www.marana.com/police Oro Valley Police www.ovpd.org Oro Valley Crime Statistics http://www.ovpd.org/pd_stats/ police_activity_summary03-25.htm

ADDENDUM - Something added. A list or other material added to a document, letter, contractual agreement, escrow instructions, etc. (See also: Amendment). ADJUSTABLE MORTGAGE LOANS (AML'S) - Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan. Also called: Adjustable Rate Loans, Adjustable Rate Mortgages (ARM's), Flexible Rate Loans, Variable Rate Loans. (See also: Indexing, Rate Index). AGENCY - Any relationship in which one party (agent) acts for or represents another (principal) under the authority of the latter. Agency involving real property should be in writing, such as listings, trusts, powers of attorney, etc. AMENDMENT - A change, either to correct an error or to alter a part of an agreement without changing the principal idea or essence. AMORTIZED LOAN - A loan repaid in periodic (most commonly monthly) payments of principal and interest. See also: Amortize, Interest Extra Note, Interest Included Note. APPRAISAL - An opinion of value based upon a factual analysis. Legally, an estimation of value by two disinterested persons of suitable qualifications APPRECIATION - An increase in value to real property due to positive changes or the elimination of negative elements in the surrounding area. Although not within the original meaning, the word has been incorrectly used so often that it is now acceptable to describe an increase in value for any reason, including inflation. ASSESSED VALUE - Value place upon property for property tax purposes by the tax assessor. BALLOON PAYMENT - The final payment (balance due) of a balloon note CC&R'S (COVENANTS, CONDITIONS, AND RESTRICTIONS) - A term used in some areas to describe the restrictive limitations which may be placed on property. In other areas, simply called restrictions. CHAIN OF TITLE - The chronological order of conveyancing of a parcel of land, from the original owner (usually the government) to the present owner.

GLOSSARY OF TERMS

CLOSING - (1) In real estate sales, the final procedure in which documents are executed and/or recorded, and the sale (or loan) is completed. (2) A selling term meaning the point at which the client or customer is asked to agree to the sale or purchase and sign the contract. (3) The final call in a metes and bounds legal de-scription which "closes" the boundaries of the property. CLOSING COSTS - Expenses incidental to a sale of real estate, such as loan fees, title fees, appraisal fees, etc. CLOSING STATEMENT - The statement which lists the financial settlement between buyer and seller, and also the costs each must pay. A separate statement for buyer and seller is sometimes prepared. CONDOMINIUM - A structure of two or more units, the interior space of which are individually owned; the balance of the property (both land and building) is owned in common by the owners of the individual units. The size of each unit is measured from the interior surfaces (exclusive of paint or other finishes) of the exterior walls, floors, and ceiling. The balance of the property is called the common area. CONVENTIONAL LOAN - A mortgage or deed of trust not obtained under a government insured program, (such as F.H.A. or V.A.). COUNTER OFFER - An offer (instead of acceptance) in response to an offer. For example: A offers to buy B's house for X dollars. B, in response, offers to sell to A at a higher price. B's offer to A is a counter offer. DEED - Actually, any one of many conveyancing or financing instruments, but generally a conveyancing instrument, given to pass fee title to property upon sale DEED OF TRUST - An instrument used in many states in place of a mortgage. Prop-erty is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary), and reconveyed upon payment in full. DEPRECIATION - (1) Decrease in value to real property improvements caused by deterioration or obsolescence. (2) A loss in value as an accounting procedure to use as a deduction for income tax purposes. (See specific types of depreciation). DEPOSIT - (1) Money given by the buyer with an offer to purchase. Shows good faith. Also called earnest money. (2) A natural accumulation of resources (oil, gold, etc.) which may be commercially recovered and marketed.

GLOSSARY OF TERMS

DISCOUNT POINTS - The amount paid to increase the yield. Example: A borrower receives a loan with an interest rate of seven percent but pays the lender three points in advance. The points raise the annual percentage rate of the loan. The lender may then sell the loan at less than face value and still make a profit. Each point equals one percent of the face value of the loan. EASEMENT - A right created by grant, reservation, agreement, prescription, or nec-essary implication, which one has in the land of another. It is either for the benefit of land (appurtenant), such as right to cross A to get to B, or "in gross", such as a public utility easement. ENCUMBRANCE, INCUMBRANCE - A claim, lien, charge, or liability attached to and binding real property. Any right to, or interest in, land which may exist in one other than the owner, but which will not prevent the transfer of fee title. EQUITY - (1) A legal doctrine based on fairness, rather than strict interpretation of the letter of the law. (2) The market value of real property, less the amount of existing liens. (3) Any ownership investment (stocks, real estate, etc.) as opposed to investing as a lender (bonds, mortgages, etc.). ESCROW - Delivery of a deed by a grantor to a third party for delivery to the grantee upon the happening of a contingent event. Modernly, in some states, all instruments necessary to the sale (including funds) are delivered to a third (neutral) party, with instructions as to their use. ESCROW OFFICER - An escrow agent. In some states, one who has, through experience and education, gained a certain degree of expertise in escrow matters. FAIR MARKET VALUE - Price that probably would be negotiated between a willing seller and willing buyer in a reasonable time. Usually arrived at by comparable sales in the area. HAZARD INSURANCE - Real estate insurance protecting against loss caused by fire, some natural causes, vandalism, etc., depending upon the terms of the policy. F.H.A. (FEDERAL HOUSING ADMINISTRATION) - A federal agency which in-sures first mortgages, enabling lenders to loan a very high percentage of the sale price.

GLOSSARY OF TERMS

IMPOUND ACCOUNT - Account held by a lender for payment of taxes, insurance, or other periodic debts against real property. The mortgagor or trustor pays a portion of, for example, the yearly taxes, with each monthly payment. The lender pays the tax bill from the accumulated funds. LEGAL DESCRIPTION - A method of geographically identifying a parcel of land, which is acceptable in a court of law. LIEN - An encumbrance against property for money, either voluntary or involuntary. All liens are encumbrances but all encumbrances are not liens. LOAN ORIGINATION FEE - A one time set up fee charged by the lender MORTGAGE - (1) To hypothecate as security, real property for the payment of a debt. The borrower (mortgagor) retains possession and use of the property. (2) The instru-ment by which real estate is hypothecated as security for the repayment of a loan. ORIGINATION FEE - A fee made by a lender for making a real estate loan. Usually a percentage of the amount loaned, such as one percent OWNER'S POLICY - Title insurance for the owner of property, rather than a lienholder. PERSONAL PROPERTY - Any property which is not designated by law as real property PITI (PRINCIPAL, INTEREST, TAXES AND INSURANCE) - Used to indicate what is included in a monthly payment on real property. Principal, interest, taxes and insurance are the four major portions of a usual monthly payment. POINT - (1) One percent of the amount of the loan. (2) A commission paid for arranging a loan. POWER OF ATTORNEY - An authority by which one person (principal) enables another (attorney in fact) to act for him. (1) General power - Authorizes sale, mortgag-ing, etc. of all property of the principal. Invalid in some jurisdictions. (2) Special power - Specifies property, buyers, price and terms. How specific it must be varies in each state. PROMISSORY NOTE - A promise in writing, and executed by the maker, to pay a specified amount during a limited time, or on demand, or at sight, to a named person, or on order, or to bearer.

GLOSSARY OF TERMS

QUITCLAIM DEED - A deed operating as a release; intended to pass any title, interest, or claim which the grantor may have in the property, but not containing any warranty of a valid interest or title in the grantor. RECORDATION - Filing instruments for public record (and notice) with a recorder (usually a county official. SEPTIC SYSTEM - A sewage system, whereby waste is drained through pipes and a tile field into a septic tank. Found in areas where city or county sewers have not yet been installed. SPECIAL ASSESSMENT - Lien assessed against real property by a public authority to pay costs of public improvements (sidewalks, sewers, street lights, etc.), which directly benefits the assessed property. SUBDIVISION - Commonly, a division of a single parcel of land into smaller parcels (lots) by filing a map describing the division, and obtaining approval by a governmental commission (city or county). The exception is a condominium, which is sometimes called a "one lot subdivision". SURVEY - The measurement of the boundaries of a parcel of land, its area, and sometimes its topography. TERMITES - Insects, similar to ants, which feed on wood, causing destruction to wooden structures. TERMITE INSPECTION - An inspection required in certain types of sales of property, to determine if termites are present within a building TITLE - The evidence one has of right to possession of land. TITLE INSURANCE - Insurance against loss resulting from defects of title to a specifically described parcel of real property. Defects may run to the fee (chain of title) or to encumbrances. WARRANTY DEED - A deed used in many states to convey fee title to real property. Until the widespread use of title insurance, the warranties by the grantor were very important to the grantee. When title insurance is purchased, the warranties become less important as a practical means of recovery by the grantee for defective title.

GLOSSARY OF TERMS

AREA MAP

7. MAPS

a. Tucson Map b. Area Boundaries c. School District Map

AREA MAP

1 Tucson Unified Schools 2 Oracle School District (Pinal Co.) 5 Red Rock Elementary School (Pinal Co.) 6 Marana Unified Schools 8 Flowing Wells Unified Schools

10 Amphitheater Unified Schools 12 Sunnyside Unified Schools 13 Tanque Verde Unified Schools 16 Catalina Foothills School District 20 Vail School District

30 Sahuarita Unified Schools 37 Empire School District 39 Continental Schools 40 Indian Oasis & Baboquivari Schools 44 Redington School District 51 Altar Valley School District

SCHOOL DISTRICTS

ZIP CODES

AREA MAP

8. RESOURCES a. Public School Districts b. Private Schools

PUBLIC SCHOOL DISTRICTS Ajo Unified School Districts

111 Well Road Ajo, AZ 85321 (520) 387-5618

www.ajoschools.org

Amphitheater School District 701 W. Westmore Tucson, AZ 85705

(520) 696-5000 www.amphi.com

Catalina Foothills School Districts

2101 E. River Road Tucson, AZ 85718

(520) 299-6446 www.cfsd16.org

Flowing Wells Unified School District

1556 W. Prince Road Tucson, AZ 85705

(520) 690-2200 www.flowingwells.k12.az.us

Marana Unified School District

11279 W. Grier Road Marana, AZ 85653

www.maranausd.org

Sahuarita Unified School District 350 W. Sahuarita Road Sahuarita, AZ 85629

(520) 625-3502 www.sahuarita.k12.az.us

Sunnyside Unified School District

2238 E. Ginter Road Tucson, AZ 85706

(520) 545-2000 www.sunnysideud.k12.az.us

Tanque Verde School District 11150 E. Tanque Verde Road

Tucson, AZ 85749 (520) 749-5751

www.edline.net/pages/tvusd

Tucson Unified School District 1010 E. 10th Street Tucson, AZ 85719

(520) 225-6000 www.tusd.k12.az.us

Vail School District

13801 E. Benson Highway #B Vail, AZ 85641

www.vail.k12.az.us

PRIVATE SCHOOLS Al Huda Islamic School

PK-5 901 E. 1st Street

Tucson, AZ 85719 (520) 624-8181

http://site.alhudatucson.org/

Ascension Lutheran School PK-5

1220 W. Magee Road Tucson, AZ 85704

(520) 742-6229 http://www.ascensiontucson.org/

Basis - Oro Valley 5-12

11155 N. Oracle Road Oro Valley, AZ 85737

(520) 308-5220 https://www.basisorovalley.org/

Basis Tucson

5-12 3825 E. 2nd Street Tucson, AZ 85716

(520) 326-6367 http://www.basistucson.org/

Basis - Tucson 5-12

3434 E. Broadway Blvd. Tucson, AZ 85716

Beginning School

(St. Philip's in The Hills Episcopal Church) PK-3

4440 N. Campbell Road Tucson, AZ 85701

(520) 299-6066 http://www.stphilipstucson.org/children.html

Calvary Chapel Christian PK-8

8725 E. Speedway Blvd. Tucson, AZ 85710

(520) 731-2100 http://www.calvarytucson.com/

Carden Christian Academy PK-8

2727 N. Swan Road Tucson, AZ 85712

(520) 318-3824 http://www.cardenchristian.com/custompage1.php

Casa Niño School of Montessori -

East Campus/PK-8 8655 E. Broadway Blvd.

Tucson, AZ 85710 (520) 751-1454

http://www.casaninos.org/

Casa Niño School of Montessori North Campus/1-4

1 W. Orange Grove Road Tucson, AZ 85704

(520) 751-1454 http://www.casaninos.org/

Casas Christian School in Oro Valley PK-8

10801 N .La Cholla Blvd.Tucson, Tucson, AZ 85742

(520) 297-0922 http://www.casaschristianschool.com/

Castlehill Country Day SchoolCraycroft PK-5

3225 N. Craycroft Road Tucson, AZ 85712

(520) 795-0008 http://www.castlehillschool.com/

Chapel in the Hills Preschool PK-4

5455 S. Westover Ave Tucson, AZ 85746

(520) 883-3281 http://chapelinthehills.net/

Cornerstone Christian Academy K-6

6450 N. Camino Miraval Tucson, AZ 85718

(520) 529-7080 http://www.cfcsmain.com/

Desert Christian Elementary Schools K-5


(520) 885-4800 http://www.desertchristianschools.org/

Desert Christian Schools K-12


(520) 901-5499 http://www.desertchristianschools.org/

Desert Trail KinderCare 8425 E. Old Spanish Trail

Tucson, AZ 85710 (520) 722-8190

http://www.kindercare.com/

Desert Valley Christian K-5, 7

1200 N. Santa Rosa Ave. Tucson, AZ 85712

(520) 795-0161 http://www.desert23.adventistschoolconnect.org/

Desert Willow Educational Services 7, 9, 11-12

3953 E. Paradise Falls Drive # 110 Tucson, AZ 85712

(520) 323-0401 http://desertwillowholistic.com/

Dove Christian School 2-7, 9-11

166 E. Roger Road Tucson, AZ 85705

(520) 696-0884

Faith Baptist Academy 11080 S. Brandywine Lane

Tucson, AZ 85736 (520) 822-1057

Faith Community Academy

PK-5 2551 W. Orange Grove Road

Tucson, AZ 85741 (520) 742-4189

Faith Lutheran School

PK-8 3925 E. 5th Street Tucson, AZ 85711

(520) 881-0670 http://www.faith-lutheran.org/

Family Life Academy K-3

7801 E. Kenyon Drive Tucson, AZ 85710

(520) 296-8989 http://www.ccctucson.org/

Fenster School 9-12

8500 E. Ocotillo Drive Tucson, AZ 85750

(520) 749-3340 http://www.fensterschool.org/

First Southern Christian School PK-6


(520) 624-9797 http://www.fsbctucson.net/

Fountain of Life Lutheran School PK-8

710 S. Kolb Road Tucson, AZ 85710

(520) 514-7688 http://follutheran.com/

Green Fields Country Day School K-12

6000 N. Camino de la Tierra Tucson, AZ 8574 (520) 297-2288

http://www.greenfields.org/

Highland Free School K-6

510 S. Highland Ave. Tucson, AZ 85719

(520) 623-0104 http://highlandfreeschool.org/

Immaculate Heart School

PK-12 410 E. Magee Road Tucson, AZ 85704

(520) 297-6672 http://www.immaculateheartschool.com/

Immaculate Heart High School 9-12

625 E. Magee Road Tucson, AZ 85704

(520) 297-2851 http://www.immaculateheartschool.com/

International School of Tucson

PK-5 1730 N. 1st Ave

Tucson, AZ 85719 (520) 406-0552

http://internationalschooloftucson.org/

Ironwood Hills Christian School 5-12

2245 W. Ironwood Hills Drive Tucson, AZ 85745

(520) 627-3896

Kids World Pre-School PK-8

321 E. Yavapai Road Tucson, AZ 85705

(520) 888-1465

Kino Learning Center PK-12

6625 N. 1st Ave Tucson, AZ 85718

(520) 297-7278

Lamb’s Gate Christian School PK-2

4700 N. Swan Road Tucson, AZ 85718

(520) 299-2151 http://www.lambsgate.org/

Mary-Joyce Private PK-1

8185 E. 22nd Street Tucson, AZ 85710

(520) 885-7711

Nellie P Covert School 1-12

2700 S. 8th Street Tucson, AZ 85713

(520) 622-7611

Our Mother of Sorrows School PK-8

1800 S. Kolb Road Tucson, AZ 85710

(520) 747-1027 http://www.omosschool.com/

Palo Verde Christian School K-8

2151 N. Palo Verde Blvd. Tucson, AZ 85716

(520) 327-6683

Precious Lamb Christian School PK-1

166 E. Roger Road Tucson, AZ 85705

(520) 270-4197 http://www.preciouslambchristianschool.com/

PRIVATE SCHOOLS Pusch Ridge Christian Academy

6-12 9500 N. Oracle Road Tucson, AZ 85704

(520) 797-0107 http://www.cfcsmain.com/

Redeemer Lutheran School PK-8

8845 N. Silverbell Road Tucson, AZ 85743

(520) 572-8136 http://www.redeemertucson.org/

Regina School Inc. 8-11

10410 E. Rita Ranch Road Tucson, AZ 85747

(520) 574-0971

River of Life Christian School PK-12

6902 E. Golf Links Road Tucson, AZ 85730

(520) 790-7082 http://www.tucsonriveroflife.com/

Saguaro Hills Adventist Christian School PK, 1-8

4280 W. Irvington Road Tucson, AZ 85746

(520) 325-1454

Salpointe Catholic High School 9-12

1545 E. Copper Street Tucson, AZ 85719

(520) 547-5878 https://www.salpointe.org/

San Miguel High School 9-12

P.O. Box 22199 Tucson, AZ 85706

(520) 294-6403 http://www.sanmiguelhigh.org/

San Xavier Mission School K-8

1980 W. San Xavier Road Tucson, AZ 85746

(520) 294-0628 http://www.sanxaviermission.org/

Santa Cruz Catholic School K-8

29 W. 22nd Street Tucson, AZ 85713

(520) 624-2093 http://santacruzschool.org/

Satori PK-8

3801 N. 1st Ave Tucson, AZ 85719

(520) 887-4003 http://www.satorischool.org/

St. Ambrose School PK-8

300 S. Tucson Blvd. Tucson, AZ 85716

(520) 882-8678 http://www.stambrosetucson.org/

St. Augustine Catholic High School 9-12

8800 E. 22nd Street Tucson, AZ 85710

(520) 751-8300 http://staugustinehigh.com/

St. Cyril of Alexandria Elementary School K-8

4725 E. Pima Street Tucson, AZ 85712

(520) 881-4240 http://www.stcyril.com/

St. Elizabeth Ann Seton Pre-School PK-5

8650 N. Shannon Road Tucson, AZ 85742

(520) 219-7650 http://www.school.seastucson.org/

St. Elizabeth Ann Seton School PK-7

8560 N. Shannon Road Tucson, AZ 85742

(520) 219-7650 http://www.school.seastucson.org/

St. Gregory College Preparatory 6-12

3231 N. Craycroft Tucson, AZ 85712

(520) 327-6395 http://www.stgregoryschool.org/

St. John the Evangelist School K-8

600 W. Ajo Way Tucson, AZ 85713

(520) 901-1975 http://www.stjohnscs.org/

St. Joseph Catholic School K-8

215 S. Craycroft Road Tucson, AZ 85711

(520) 747-3060 http://www.stjosephtucson.org/

St. Michael’s Parish Day School K-8

602 N. Wilmot Road Tucson, AZ 85711

(520) 722-8478 http://www.stmichael.net/

St. Odilia Catholic School PK-3

7570 N. Paseo Del Norte Tucson, AZ 85704

(520) 297-1123 http://www.st-odilia.org/schoolmain.html

Sts. Peter & Paul Catholic School K-8

1436 N. Campbell Ave. Tucson, AZ 85719

(520) 325-2431 http://sspptucson.org/

Tucson Academy of Excellence K-1, 6, 8, 11

1749 E. Broadway Blvd. Tucson, AZ 85719

(520) 882-5221

Tucson Christian School PK-8

2855 N. Craycroft Road Tucson, AZ 85712

(520) 326-2395

Tucson Hebrew Academy K-8

3888 E. River Road Tucson, AZ 85718

(520) 529-3888 http://www.tucsonhebrew.org/

Tucson Waldorf School PK-8

3349 E. Presidio Road Tucson, AZ 85716

(520) 325-5514 http://www.tucsonwaldorf.org/

Tuller School K-8

5870 E. 14th Street Tucson, AZ 85711

(520) 747-1142 http://www.tullerschool.com/

Places to get more information on private schools, please go to:

www.privateschoolreview.com www.schoolmatters.com www.greatschools.com

TSA 2-Sided Buyer Book 2011 new logo - Title Security · Application interview and lender obtains...

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