Arizona Home Buyer’s Guide

Table of Contents

Your Investment

1. Benefits of Working with a Professional Real Estate Agent 2. Your Home Team 3. The Process of Buying a Home 4. Identify Your Needs 5. House Hunters Scorecard 6. What Will Your Payment Be?

The Process

8. Understanding the Offer Process 9. The Life of an Escrow at Chicago Title 10. Common Types of Loans 11. Information Needed at Loan Application 12. Why Do You Need Title Insurance? 13. Chicago Title Branch Map and Zip Codes 14. Branch Number Key 15. Glossary of Terms 17. About Home Inspections 18. Ways to Take Title in Arizona 19. Closing Costs 20. Estimated Cost Sheet

References 23. Checklist for Moving 25. Arizona Area Codes 26. Maricopa County School Districts 27. Helpful Telephone Numbers 28. Notes

Our Symbol Since 1847, we’ve been standing behind American property owners, ready to defend them swiftly and firmly. Our corporate symbol is inspired by that age-old aphorism, “A man’s Home is his Castle.” Just as medieval castles survive to this day, the men and women of Chicago Title Insurance Company deliver the kind of protection that ensures our clients’ real estate investments will endure for many years to come. The castle conveys what we stand for: strength. The turret motif of our logo is modeled after the old Chicago Water Tower, one of the few edifices to survive the Great Chicago Fire. But the ring around the castle is of even greater significance – it is emblematic of a moat. As a moat protects a castle’s walls, so our title insurance protects our customers’ properties. As you know, the deeper and wider the moat, the more it safeguards the castle. At Chicago Title Insurance Company, we boast unsurpassed resources as the #1 Title Insurance Company in America, spanning the Country with offices in 2,097 counties Nationwide.

Your Investment

1

Benefits of a Real Estate Agent

A professional Real Estate Agent or Broker will direct, guide and represent you through the complex and exciting home-purchase process. 1. Educate you through the entire home-buying process and understand all of the paperwork

2. Handle any problems which may arise during the transaction

3. Properly prepare forms, contracts and disclosures required and see that those items are legally correct

4. Provide comparable sales data to help assure that you are paying the proper price for the home

5. Help you find the right home in the right neighborhood

6. Screen homes before your inspection to make sure the property meets your needs

7. Help you to negotiate the best price available for all costs and fees related to the transaction

8. Guide you with regard to repairs that should be made

9. Negotiate all facets of the transaction in your best interest

10. See that all required disclosures are made

11. Suggest which professional inspections should or must be made on the property

12. Advise you as to when you should seek the advice of an attorney

13. Make sure that the appraisal process is handled properly

14. Handle the walk-through process with you prior to the final closing

15. See that any repairs or requirements are met prior to the closing

16. Advise you as to any contractual changes which might be necessary prior to the closing

Real Estate Designations:

(ABR) Accredited Buyer Representative

(CBR) Certified Buyer Representative (CRS) Certified Residential Specialist (GRI) Graduate REALTOR® Institute

2

Your “Home” Team

Real Estate Agent

Phone #

Mobile #

Fax #

Loan Officer

Company

Phone #

Fax #

Title Company Chicago Title Insurance

Escrow Officer

Escrow #

Phone #

Fax #

Address

Insurance Company

Agent

Phone #

Policy #

Home Warranty Co.

Phone #

Home Inspection Co.

Phone #

Other

3

WE’VE MOVED!

The Process of Buying a Home

1. Talk to your Real Estate Agent

2. Make an appointment with a Lender

3. Gather all financial data for loan application

4. Get conditional loan approval from Lender

5. Decide what kind of home you want

6. Find the right neighborhood

7. Begin house hunting

8. Compare houses

9. Make an offer

10. Submit accepted contract to Lender

11. Open Escrow with Chicago Title

12. Pack & schedule utilities

13. Close Transaction

4

House Hunters Scorecard Track Your Process! Start with your priorities first and keep track of your top three picks on this sheet.

Priority House A House B House C Asking Price Neighborhood School District Overall Square Footage Move- In Ready Custom Home Garage Age of Home Single Level Two Story Real Estate Taxes Utility Expenses Wood Frame Brick & Wood Frame Overall Exterior Condition Gas Heat Electric Heat Central Air/ Age Number of Bedrooms Number of Bathrooms Living Room Size Closet Size/s Eat-in Kitchen Kitchen Cabinets/Storage Separate Dining Room Refrigerator Gas Stove Electric Stove Disposal Dishwasher Washer/Dryer Laundry Space Adequate Water Heater Basement Attic Storage Fireplace/s Carpeting Tile/ Wood Flooring Modern Electric Wiring Overall Sewage System Backyard Fencing Landscaping

5

What will your payment be? Use this chart as a principal and interest payment guide. Talk with your lender for your actual financing calculations. To qualify for most mortgages, it is generally suggested to structure your mortgage payment based on a maximum of 26%–28% of your gross monthly income. Actual total monthly payment will often include: Principal, Interest, Taxes and Insurance (PITI).

Loan Amount 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% $120,000 644 681 719 758 798 839 881 923 968 $140,000 752 795 839 885 931 978 1027 1076 1126 $160,000 859 908 959 1011 1064 1118 1174 1230 1287 $180,000 966 1022 1079 1138 1198 1258 1321 1384 1448 $200,000 1074 1136 1199 1264 1331 1398 1468 1538 1609 $220,000 1181 1249 1319 1391 1464 1538 1614 1692 1770 $240,000 1288 1363 1439 1517 1597 1678 1761 1845 1931 $260,000 1396 1476 1559 1643 1730 1818 1908 1999 2092 $280,000 1503 1590 1679 1770 1863 1958 2055 2153 2253 $300,000 1610 1703 1799 1896 1996 2098 2201 2307 2414 $400,000 2147 2271 2398 2528 2661 2797 2935 3076 3218 $450,000 2416 2555 2698 2845 2994 3146 3301 3460 3621 $500,000 2684 2839 2998 3160 3327 3496 3669 3845 4023 $550,000 2953 3123 3298 3477 3660 3845 4036 4230 4425 $600,000 3221 3407 3597 3792 3992 4195 4403 4613 4828 $650,000 3490 3691 3898 4108 4324 4545 4770 4998 5230 $700,000 3758 3975 4197 4424 4657 4895 5136 5382 5632 $750,000 4026 4258 4496 4740 4990 5244 5503 5766 6035 $800,000 4295 4542 4796 5056 5322 5593 5870 6151 6437 $850,000 4563 4826 5096 5372 5655 5943 6237 6537 6839 $900,000 4831 5110 5396 5688 5987 6292 6603 6920 7241 $950,000 5099 5394 5695 6004 6320 6642 6970 7304 7643

$1,000,000 5368 5678 5995 6320 6653 6992 7337 7689 8046

What can you afford? Ask your Real Estate Agent | Estimates are available through the ChicagoAgent tool! Ideal Monthly Payment $ ____________

Interest rate ____________%

Yr. loan ____________

Taxes ____________

Insurance 0.35 Avg.

Loan Estimate $ __________

Loan Amount

5% down ____________

10% down ____________

15% down ____________

20% down ____________

The Process

8

Understanding the Offer Process

In all states in the United States, as well as every province in Canada, all real estate contracts must be in writing. This includes the offer to purchase and receipt for deposit, which will be used in making an offer on a property. Even if you have given your agent permission to bargain for a property on your behalf, that agent must have a signed Purchase Contract before they can actually present your offer (only if an agent has a signed Power of Attorney to act for you can they make written offers in your name).

When you have found a home you wish to buy or when you have decided to sell your current home, the offer process will go something like this:

1. The Buyer’s agent may prepare an Estimated Closing Cost form that will give an estimate of what it will cost the Buyer to purchase. This will include all closings costs and the down payment (based on the amount which you have decided to offer for the home).

2. The Buyer and their agent will prepare the actual Purchase Contract which is the offer to

purchase and will be presented to the Seller. There is a standard form in Arizona which is nine pages and there are other forms, such as the Agency Disclosure, which the Buyer will also need to sign.

3. The Buyer’s agent will then contact the Seller’s agent and set an appointment to present the

offer. In Arizona, it is permissible for the Buyers’ agent to present the offer to the Seller (in the presence of the Seller’s agent).

4. The Seller will then usually take a short period of time to evaluate the offer, discuss the

information and decide if they wish to accept what the Buyer has offered. The Seller’s agent may also prepare a Net Proceeds Statement for the Seller which will detail the estimated costs to sell the home and how much the Seller will actually receive under the terms of the offer.

5. The Seller will then either accept the offer or prepare a counter offer.

6. If the Seller accepts the offer, the closing process will begin. If the Seller gives a counter offer,

the ball is back in the Buyer’s court and the Buyer must decide if they will accept, reject, or counter the counter offer.

7. Since the Buyer wants to gain the right to buy the home before other offers are presented, this

process often moves along quickly. It is important to be available to your agent!

9

The Life of an Escrow at Chicago Title The following explains the sequence of events involved in an escrow/closing process and what party involved is responsible. Your Escrow Officer is a “neutral third party”. Her/his job is to gather all the documents and information from all involved parties to prepare for the transfer of the property.

Start Escrow Officer

Receives Purchase Contract with earnest money check, opens escrow and orders title commitment

Buyer Has all inspections completed

Lender Begins processing: Orders credit report, appraisal, deposits and verification of employment

Escrow Officer

Receives Title Commitment for review and distributes to all parties

Escrow Officer

Orders any statements for items requiring payoff per Title Commitment

Lender Receives loan approval and orders loan documents to be sent to Escrow

Escrow Officer

Prepares a preliminary settlement statement for review by parties

Seller Signs deed and other related sale documents

Buyer Signs loan documents and deposits funds required

Escrow Officer

Returns signed loan documents to Lender

Escrow Officer

Receives loan funds from Lender

Escrow Officer

Orders recording of Deed and Deed of Trust

Escrow Officer

Completes file by paying the Seller, agents and all bills in escrow and sending final documents to all parties

Title Company Issues title policies to Owner and Lender

Finish

10

Common Types of Loans Adjustable Rate Loan Adjustable or variable rate refers to the fluctuating interest rate you’ll pay over the life of the loan. The rate is adjusted periodically to coincide with the changes in the index on which the rate is based. The minimum and maximum amounts of adjustment, as well as the frequency of adjustment are specified in the loan terms. An adjustable rate mortgage may allow you to qualify for a higher loan amount but maximums, caps and time frames should be considered before deciding on this type of loan. Balloon payment loan A balloon loan is amortized over a long period of time but the balance is due and payable earlier in the life of the loan. Example: Loan is amortized over 30 years but the payment is due after 5 years. The loan also may be extendable or it may roll into a different type. This could be an option if you expect to refinance before the loan is due or you plan to sell the home before the balloon date. Conventional Loan A mortgage loan program where the interest rate does not change for the life of the loan. Also called Fixed Rate Mortgage. Conforming Loan A mortgage program for up to and including $417,000 in the continental United States. Interest Only Loan A non-amortized loan in which interest is due at regular intervals until maturity, when the full principal on the loan is due. Jumbo Loan A mortgage loan program for $417,001 or more in the continental United States. These limits are set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because Jumbo Loans cannot be funded by these two agencies, they usually carry a higher interest rate. Second Mortgage A mortgage on real estate which has already been pledged as collateral for an earlier mortgage. The second mortgage carries rights which are subordinate to those of the first. Two Step Mortgage An adjustable rate mortgage which has one interest rate for the first part of the mortgage (usually five or seven years), and a different interest rate for the remainder of the mortgage.

11

Information Needed at Loan Application

• Picture ID with proof of Social Security Number

• Residence Address – past 2 years

• Names and Addresses of each Employer – past 2 years

• Gross Monthly Salary. Base Only: Overtime & Bonus list separately

• Names, Addresses, Account Numbers & Balances of all Checking & Savings accounts – last 2 months of bank statements

• Names, Addresses, Account Numbers, Balances and Monthly Payments of all Open Loans

• Names, Account Numbers, Balances and Monthly Payments of all Credit Cards

• Addresses of other real estate owned

• Loan information on other real estate owned

• Estimated Value of Furniture and Personal Property

• Certificate of Eligibility and DD214’s (V.A. only)

• Money for Credit Report and Appraisal

• W2’s (2 years) and current check stub

• Full divorce decree, if applicable

Tips on Credit to Help Buyers Avoid making large credit purchases until after you have closed escrow and the transaction has been recorded. This includes the purchase of cars, boats, furniture, etc. The large payment obligation may PRECLUDE you from QUALIFYING for your home loan. Always be aware of your credit balances. Do not skip payments. If you cannot make payments consistently, seek professional assistance to help you get on track. If you have a problem, contact your creditors immediately. Save money on a regular basis. It is wise to have at least three to six months income put away in case of a financial emergency.

12

Why do you Need Title Insurance?

pro·tec·tion: the act of protecting against risk or harm; preservation from injury or harm.

in·sur·ance: protection provided against risks or a risk, the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies

A Lender goes to great lengths to minimize the risk of lending you the money you need to buy a home. First, your finances, past and present are checked to ensure your ability to re-pay. Then, your lender goes a step further. He or she makes sure that the quality of the Title to the property you are about to buy and which you will pledge as security for the loan is satisfactory. The lender does this by obtaining a lender’s policy of Title insurance (often referred to as the ALTA policy). Who does the Lender Policy protect? The lender’s policy protects the lender against loss due to unknown Title defects at the time of the sale and in the future. This policy only protects the lender’s interest. It does not protect you. That’s why you need an Owner’s Policy, which will be issued at the same time as the lender’s policy for a one-time fee. How can there be a Title defect if the Title has been searched and a loan policy issued? Title insurance is issued after a careful examination of copies of the public records. Even the most thorough search cannot absolutely assure that no Title hazards are present, despite the knowledge and experience of professional Title examiners. In addition to matters shown by public records, other Title problems may exist that cannot be disclosed in a search.

What Title Insurance Protects against? Here are just a few of the most common hidden risks that can cause a loss of Title or create an encumbrance on Title:

• False impersonation of the true owner of the property

• Forged deeds, releases of wills • Undisclosed or missing heirs • Mistakes in recording legal documents • Deeds by persons of unsound mind • Deeds by minors • Deeds by persons supposedly single, but

in fact married • Liens for unpaid inheritance, income of

gift taxes • Fraud

What protection does Title Insurance provide against defects and hidden risks? Title insurance will pay for defending against lawsuits attacking your Title as insured, and will clear up Title problems or pay the losses. By combining expertise in risk elimination at the time of issuing a policy, and protection against hidden risks as long as the policy remains in effect, your Title insurance protects against title loss.

15

Glossary of Terms

Appraisal An opinion of value based upon a factual analysis.

Amendment An alteration, addition, or correction to an agreement that does not change the principal idea or essence of the original agreement.

Chain of Title A summary or digest of the conveyances, transfers, and any other facts relied on as evidence of title, together with any other elements of record which may affect the marketability of the title.

Amortized Loan

A loan that is completely paid off, interest and principal, by a series of regular payments that are equal or nearly equal. Also called a Level Payments Loan.

Appreciation An increase in value of real estate.

C.C. & R’s The Covenants, Codes, and Restrictions of a sub-division or master planned community. These regulations grant the association the right to enforce certain aspects of the community. (Example: Exterior colors or plantings)

Closing The final settlement of a real estate transaction between the Buyer and Seller.

Condominium A system of individual fee ownership of units combined with joint ownership of common area of the structure and the land.

Conventional Mortgage

A mortgage securing a loan made by investors without governmental underwriting.

Counter Offer A rejection of an offer by a Seller along with an agreement to sell the property to the potential Buyer on terms differing from the original offer.

Deed Written instrument which, when properly executed and delivered, conveys title.

Deed of Trust An instrument used in Arizona in place of a mortgage to secure the lenders rights.

Discount Points

Additional charges made by a lender at the time a loan is made. Points are measured as a percent of the loan, with each point equal to one percent. These additional interest charges are paid at the time a loan is closed to increase the rate of return to the lender so as to approximate the market level.

Earnest Money Deposit

Down payment made by a purchaser of real estate as evidence of good faith.

Easement Created by grant or agreement for a specific purpose, an easement is the right, privilege or interest which one party has in the land of another. (Example: rights of way, utility companies)

Equity The interest or value which an owner has in real estate over and above the liens against real property.

16

Escrow The deposit of instruments and funds with instructions (the Contract) to a third neutral party

(Escrow Agent) to carry out the provisions of an agreement or contract; when everything is deposited to enable carrying out the instructions, it is called a complete or perfect escrow.

FHA Loan A loan which has been insured by the federal government similar to FHA loan usually used for residential properties in rural areas.

Impound Account

Account held by the lender for payment of taxes +/ or insurance against the real property.

Legal Description

A description of land that complies with government surveys to thoroughly identify a specific parcel so that it, and its boundaries, cannot be mistaken for any other.

Lien A form of encumbrance which usually makes property security for the payment of a debt or discharge of an obligation. (Example: Judgments, taxes, mortgages, deeds of trust, etc)

Mortgage An instrument recognized by law by which property is hypothecated to secure the payment of a debt or obligation; procedure for foreclosure in the event of default is established by statute.

Origination Fee A fee charged the borrower by the lending institution.

Personal Property

Any property which is not real property, e.g. money, appliances, cars, boats, furniture, etc. In real estate, anything not permanently attached to the building is considered personal property.

PITI A payment that includes Principal, Interest, Taxes, and Insurance.

Power of Attorney

A legal “instrument” whereby a principal gives authority to another to act for them. A specific form must be used in Arizona to create a Power of Attorney.

Promissory Note

Following a loan commitment from the lender, the borrower signs a note promising to Repay the loan under stipulated terms. The promissory note establishes personal liability for its repayment.

Quit Claim Deed

A deed operating as a release.

Recording The official filing of documents with the County Recorder, making the transfer of property official.

Special Assessment

Legal charge against real estate by a public authority to pay cost of public improvements such as: Street lights, sidewalks, street improvements, etc.

S.P.D.S. Also referred to as “SPUDS”, is the Seller’s Property Disclosure Statement. Sellers are required to disclose any problems that they are aware of that affect the property.

Sub-Division A parcel of land that has been divided into smaller parts.

VA Loan A loan guaranteed by the Veteran’s Administration.

Warranty Deed A deed used to convey real property which contains warranties of title and quiet possession, and the grantor agrees to defend the premises against the lawful claims of third persons.

1031 Exchange A method enabling property owners to trade an investment property for another investment property (or properties) without paying capital gains taxes on the transaction.

17

Other Inspections & Tests to consider • Lead Paint • Wood destroying insects (termites) • Air quality (radon gases) • Fungi, mold and allergens • Urea Formaldehyde Insulation

About Home Inspections A standard home inspection is a visual examination of the physical structure and major interior systems of a residential building consisting of one to four dwelling units. An inspection can be likened to a physical exam by a physician; however, it should be clearly understood that a home inspection is not to be confused with an appraisal, a building code inspection, a guarantee of any kind, and/or an insurance policy on the condition of the property. During an inspection, the inspector will review the readily accessible exposed portions of the structure of the home, including the roof, the attic, walls, ceilings, floors, windows, doors, basement, and foundation as well as the heating/air conditioning systems, interior plumbing and electrical systems for potential problems. Home inspections are not intended to point out every small problem or any invisible or latent defect in a home. Most minor or cosmetic flaws, for example, should be apparent to the Buyer without the aid of a professional.

Selecting a Home Inspector

Good referral sources for home inspection services are friends, neighbors, or business acquaintances who have been satisfied with a home inspector. In addition, lawyers and mortgage brokers may also recommend a home inspector. The names of local inspectors can be found by searching the Division of Professional Licensure website at www.mass.gov/dpl/boards/hi, or in the Yellow Pages where many advertise under "Building Inspection Service" or "Home Inspection Service."

Real estate brokers and salesmen may not directly recommend a specific home inspection company or home inspector unless representing the Buyer as a Buyer's broker. Brokers, however, may provide assistance to Buyers in accessing information on licensed home inspectors.

A current home owner may also want to get a home inspection to identify any problems, especially if the owner plans to sell the home in the near future.

• A home inspector's license can be verified with the Board of Registration of Home Inspectors at its website or by calling the Board at (617) 727- 4459.

• The home inspection company that is retained should welcome the potential Buyer's presence at the home inspection. The home inspector should be willing to address all of the Buyer's questions and provide a full verbal and written report.

18

Ways to take Title in Arizona

Community Property

Joint Tenancy with the Right of

Survivorship

Community Property with the Right of Survivorship

Tenancy in Common

Sole and Separate

Requires a valid marriage between two persons.

Parties need not be married: may be more than two joint tenants.

Requires a valid marriage between two persons.

Parties need not be married: may be more than two tenants in common.

See Note at bottom of page

Each spouse holds an undivided one-half interest in the estate.

Each joint tenant holds an equal and undivided interest in the estate, unity of interest.

Each spouse holds an undivided one-half interest in the estate.

Each tenant in common holds an undivided fractional interest in the estate. Can be disproportionate. (ie: 20%-80% or 60%-40%)

See Note at bottom of page

One spouse cannot partition the property by selling his or her interest.

One joint tenant can partition the property by selling his or her joint interest.

One joint tenant can partition the property by selling his or her joint interest.

Each tenant’s share can be conveyed, mortgaged or devised to a third party.

See Note at bottom of page

Requires signatures of both spouses to convey or encumber.

Requires signatures of all joint tenants to convey or encumber the whole.

Requires signatures of both spouses to convey or encumber.

Requires signatures of all tenants to convey or encumber the whole.

See Note at bottom of page

Each spouse can devise (will) one-half of the community property.

Estate passes to surviving joint tenants outside of probate.

Estate passes to surviving spouse outside of probate.

Upon death the tenant’s proportionate share passes to his or her heirs by will or intestacy.

See Note at bottom of page

Upon death the estate of the decedent must be “cleared” through probate, affidavit or adjudication.

No court action required to “clear” title upon the death of joint tenant(s).

No court action required to “clear” title upon the first death.

Upon death the estate of the decedent must be “cleared” through probate, affidavit or adjudication.

See Note at bottom of page

Both halves of the community property are entitled to a “stepped up” tax basis as of the date of death.

Deceased tenant’s share is entitled to a “stepped up” tax basis as of the date of death.

Both halves of the community property are entitled to a “stepped up” tax basis as of the date of death.

Each share has its own tax basis.

See Note at bottom of page

NOTE: Arizona is a community property state. Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. If a married person acquires title as “Sole and Separate”, his or her spouse must execute a disclaimer deed to avoid the presumption of community property. Parties may choose to hold title in the name of an entity, e.g. a corporation, a limited liability company, a partnership (general or limited), or trust. Each method of taking title has certain significant legal and tax consequences. Therefore, you are encouraged to obtain advice from an attorney or other qualified professional.

19

Closing Costs Listed below are some typical closing costs you may incur as part of your loan transaction. When you apply for a loan, you will receive a Good Faith Estimate of closing costs and settlement charges, and a booklet that will explain these costs.

Appraisal This is a one-time fee that pays for an appraisal. The appraisal is made by an independent fee appraiser.

Credit Report A fee that covers the cost of the credit report. Document Preparation There may be a separate fee that covers the preparation of the

final legal papers. Loan Discount A fee used to adjust the yield on the loan to what market

conditions demand. It is often called “points”. Loan Origination The lender’s administrative costs in processing the loan. This fee

covers the loan. Title Charges The Title Company charges fees for a title search, title

examination, recording fees, endorsement fees, a settlement or closing fee and notary fees.

Prepaid Interest Depending on the time of the month your loan closes this per

diem charge may vary from a full month’s interest to that of a few days. If your loan closes at the end of the month, you will have to pay interest only for a few days or so.

Taxes & Insurance You may be required to reimburse the Seller for property taxes,

depending on the month in which you close. You will also need to pay a year’s hazard insurance premium up front. Also, you might be required to put a certain amount for taxes and insurance into a special reserve account held by the lender.

Estimated Closing Costs: Ask your Real Estate Agent | Estimates are available through the ChicagoAgent tool!

Fixed Costs: $_____________ Pre Pay costs: $_____________ Total: $_____________ + Down payment: $_____________

Home Price: $ ____________ Money Down: $ ____________ Loan Amount: $ ____________ P.I.T.I.: $ _____________

20

Estimated Cost Sheet Cash CTM FHA/VA Conv Seller Buyer1 Down Payment X X X X $

2 Escrow Fee (charge Seller on VA) X X X X $ ½ $ ½

3 Owner’s Title Policy X X X X $

4 ALTA Loan Policy (combo rate based on loan amount) X X $$

4a Standard Loan Policy X $

5 Recording / Affidavit File Fees X X X X $ ½ $ ½

6 Home Protection Plan $ Negot $ Negot

7 Real Estate Commission X X X X $

8 Termite Inspection X X X X $

9 Home Owner’s Association Fees $ ½ $ ½

10 Tax Prorations X X X X $

11 Home Owner’s Insurance (fire/flood) X X X X $

12 Assessments-sewer, etc (payoff or prorate) $ or Prorate

13 Discount Points X X $ Negot $ Negot

14 Origination Fee – negotiable X X $

15 Appraisal Fee – negotiable X X $

16 Lender’s Document Preparation Fee X X $ (FHA/VA) $ Negot

17 Credit Report Fee X X $

18 Tax Service Contract X X $ (FHA/VA) $ Conv

19 Bringdown Endorsement / Underwriting $ (FHA/VA) $ Conv

20 VA Funding Fee X $

21 FHA MIP or PMI Premium X X $

22 Existing Loan Payoff (including unpaid interest) X X X X $

23 Payoff Demand Fee X X X X $

24 Reconveyance Fee X X X $

25 Impound / Reserve Account X $

26 Insurance Impound X X $

27 Tax Impounds X X $

28 MIP / PMI Impounds X X $

29 Prepaid Interest X X $

30 Loan Transfer Fee X $ ½ $ ½

31 Prepayment Penalty X X X $

32 Prorated Interest X $

33 Account Servicing Set Up Fee $ ½ $ ½

34 Repairs $

35 Home Inspection Fee $ $

21

References

23

Checklist for Moving Address Change

Give forwarding address to post office 2 to 3 weeks before moving Change charge accounts, credit cards Subscriptions: Notice requires 6 to 8 weeks Friends and relatives

Bank Transfer funds, arrange check-cashing in new city Arrange credit references

Insurance Notify company of new location for coverages: life, health, fire and auto Make sure home owners’ coverage for your new house is in place.

Utility Companies Gas, light, water, telephone, fuel, garbage Get refunds on any deposits made Return cable boxes

Delivery Service Laundry, newspaper, change over of service

Medical, Dental, Prescription Histories Ask Doctor and Dentist for referrals, transfer needed for prescriptions, eyeglasses, X-rays. Obtain birth records, medical records, etc.

Arrange for medical services: Doctor, Dental, Veterinarian, etc.

Pets Ask about regulations for licenses, vaccinations, tags, etc.

Schools Get school transcripts (some districts require that they be sent directly from the prior school)

24

Don’t Forget To: Empty freezer, plan use of foods Defrost freezer and clean refrigerator. Place charcoal inside to dispel odors Have appliances serviced before moving Clean rugs or clothing before moving. Have them wrapped Check with your moving counselor, insurance coverage, packing and unpacking labor, arrival day, various shipping papers, method and time of expected payment

Plan for special care needs of infants or pets Check with Agriculture Department of new area to see if they have restrictions on plants

On Moving Day:

Carry enough cash or traveler’s checks to cover cost of moving services and expenses until you make banking connections in new city

Carry jewelry and documents yourself, or use registered mail Plan for transporting of pets; they are poor traveling companions if unhappy Let close friends and relatives know route and schedule you will be traveling including overnight stops. Use them as message headquarters

Double check closets, drawers, shelves to be sure they are empty Leave old keys, garage door openers, broiler pans, landscape / house plans and instruction manuals needed by new owner with real estate agent

At Your New Address:

Obtain certified checks or cashier’s checks necessary for closing Real Estate Transaction (check with Escrow officer at Chicago Title for details)

Check on service of telephone, gas, electricity, water and garbage Check pilot light on stove, for water heater and furnace Ask mail person for mail he/she may be holding for your arrival Have new address recorded on driver’s license and car registration Visit city offices and register to vote Register car and get new license plates Obtain inspection sticker and transfer motor club membership Apply for state driver’s license Register family in your place of worship Register children in school

25

Arizona Area Codes

Area codes Selected Cities

(480) Chandler, Scottsdale

(520) Tucson

(602) Phoenix

(623) Sun City, Peoria

(928) Flagstaff, Yuma

26

Elementary School Districts 1. Phoenix 2. Riverside 3. Tempe 5. Isaac 6. Washington 7. Wilson 8. Osborn 14. Creighton 17. Tolleson 21. Murphy 25. Liberty 28. Kyrene

31. Balsz 33. Buckeye 38. Madison 40. Glendale 44. Avondale 45. Fowler 47. Arlington 49. Palo Verde 59. Laveen 60. Higley 62. Union 63. Aguila

Maricopa County School Districts

65. Littleton 66. Roosevelt 68. Alhambra 71. Sentinel 75. Morristown 79. Litchfield Park 81. Nadaburg 83. Cartwright 86. Mobile 90. Ruth Fisher 92. Pendergast 94. Paloma

Unified School Districts 4. Mesa 9. Wickenburg 11. Peoria 24. Gila Bend 41. Gilbert 43. Apache Junction 48. Scottsdale 69. Paradise Valley 80. Chandler 89. Dysert 93. Cave Creek 95. Queen Creek 97. Deer Valley 98. Fountain Hills

High School Districts 201. Buckeye Union 205. Glendale Union 210. Phoenix Union 213. Tempe Union 214. Tolleson Union 216. Agua Fria Union

University Sites 1. Arizona State University (ASU) 2. ASU East Campus 3. ASU West campus 4. Northern Arizona University, (NAU) Central 5. NAU, Estrella Mountain 6. NAU, Paradise Valley 7. NAU, Metro Tech 8. University of Arizona Extension Campus

27

Helpful Telephone Numbers

Utilities Automobile Information Arizona Public Service (APS) 602-371-7171 Emissions Testing 602-470-4646 Salt River Project (SRP) 602-236-8888 Motor Vehicle Division 602-255-0072 Southwest Gas 602-861-1999 Mesa Gas 480-644-2221 Consumer Services Better Business Bureau 602-264-1721

Water AZ Attorney General Consumer Line 602-542-5763

Apache Junction 480-982-8002 AZ Registrar of Contractors 602-542-1525 Avondale 623-333-1000 Buckeye 623-349-6100 Schools

Carefree 480-488-1471 Maricopa School Superintendent (info on district boundaries) 602-506-3866

Cave Creek 480-488-1400 Immunization 602-506-6767 Chandler 480-782-2280 El Mirage 623-933-1228 Transportation Fountain Hills 480-837-2003 Airport Express 480-836-9911 Gilbert 480-503-6800 Discount Cab 602-266-1110 Glendale 623-930-3190 Super Shuttle 602-244-9000 Goodyear 623-932-3910 Yellow Cab 602-252-5252 Guadalupe 480-730-3080 Litchfield Park 623-935-5033 Newspapers Mesa 480-644-2221 The Arizona Republic 602-444-1000 Paradise Valley 480-948-5410 The Tribune 800-887-4286 Peoria 623-773-7160 Phoenix 602-262-6251 Post Offices, Valley wide 800-275-8777 Queen Creek 480-987-9887 Scottsdale 480-312-2461 Voter Registration 602-506-1511

Surprise 623-583-1000

Tempe 480-350-8361 Waste Removal 602-243-1271

Telephone Recycling Hotline 800-CLEANUP

Telephone Directory Order 800-422-8793

Qwest 800-244-1111 Dog Licensing 602-506-7387 Cable Building Information 602-506-3301 Cox Communications 602-277-1000

28

Notes

29

Notes

30

Notes