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6845 MOUNTAIN TOP LANE

COLORADO SPRINGS, CO 80919

Property Details

Maps

Local Schools

Community Utilities & Resources

Title & Escrow

The information contained is provided by WFG’s Customer Service Department to our customers, and while deemed reliable, is not guaranteed.

PROPERTY DETAILS

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919

63074-02-098 EL PASO COUNTY CO

Owner Information

Owner Name: KING D JEFFREY / Vesting:

Mail Address: 6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919

Owner Status:

Location Information

Legal Desc:

CONDOMINIUM UNIT NO 72 BLDG NO 9 IN DISCOVERY AT RAVENCREST CONDOMINIUMS PHASE III IN ACCORDANCE WITH THE CONDOMINIUM DECLARATION RECORDED JAN 24, 1983 IN BK 3664 AT PG 162 AND CONDOMINIUM PLAT RECORDED FEB 18, 1983 IN PLAT BK 3 AT PG 33 EL PASO COUNTY RE

County: EL PASO

Census/Block: 003705 / 3018

Tsp-Rng-Sec: T13-R66-S07

Lot / Block: Lot: 72 Block:

Housing Tract: RAVENCREST CONDO PHASE II

Last Market Sale

Date: 2024-03-01/2024-03-01

Sale Price: 295000

Document #: 2024.14922

Alt Parcel #

School District: ACADEMY 20

Municipality:

Parcel #: 63074-02-098

Lender:

Loan:

Document #:

Doc Type: GENERAL WARRANTY DEED Loan Type:

$ Sqft: $297.38

Prior Sale Information

Date: 2020-11-03/2020-10-29

Loan Term:

Lender: Price: 237000

Document #: 2020.176784

Doc Type: GENERAL WARRANTY DEED

Loan: 222000

Document #:

Loan Type: CONVENTIONAL

The above is believed to be accurate, but is not guaranteed. Copyright © 1995-2024 CDS Marketing, Inc.

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919

63074-02-098 EL PASO COUNTY CO

Property Characteristics

Gross Area: 992

Living Area: 992

Above Grade: 992

Bedrooms: 2

Bath (F/H): 1/1

Garage Area:Interior Wall

Roof Shape: GABLE/HIP Porch Type: COVERED PORCH

Foundation: CONCRETE Patio Type: TERRACE

Roof Material: COMPOSITION SHINGLE

Air Cond: YES

Construction: FRAME Fixtures:

Fireplace: FIREPLACE Heat Type: FORCED AI Floor:

Year Built: 1982

Parking Type: Garage

Cooling Type: YES

Equipment:

Exterior Wall: WOOD SIDING Stories: 1

Units: 1 Rooms: 4

Pool: No

Basement:Quality: AVERAGE Condition:

Property Information

MAPS

ASSESSOR MAP

This map/plat is being furnished as an aid in locating described land in relation to adjoining streets, natural boundaries and other land, and is not a survey of the land depicted. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the company does not insure dimensions, distances, location of easements, acreage or other matters shown thereon.

STREET MAP

This map/plat is being furnished as an aid in locating described land in relation to adjoining streets, natural boundaries and other land, and is not a survey of the land depicted. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the company does not insure dimensions, distances, location of easements, acreage or other matters shown thereon.

AERIAL MAP

This map/plat is being furnished as an aid in locating described land in relation to adjoining streets, natural boundaries and other land, and is not a survey of the land depicted. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the company does not insure dimensions, distances, location of easements, acreage or other matters shown thereon.

CITY BOUNDARY MAP

This map/plat is being furnished as an aid in locating described land in relation to adjoining streets, natural boundaries and other land, and is not a survey of the land depicted. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the company does not insure dimensions, distances, location of easements, acreage or other matters shown thereon.

SCHOOLS

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919

63074-02-098

EL PASO COUNTY CO

Academy, School District No. 20, In The County Of El Paso An

Elementary Schools

Rockrimmon Elementary School719-234-5200

194 W Mikado Drive COLORADO SPRINGS CO 80919

Grades: KG to 05

Charter School: N

Magnet School: N

Area Desc:

Distance: 0.56 Miles

Title One: NO

Foothills Elementary School719-234-4500

825 Allegheny Drive COLORADO SPRINGS CO 80919

Grades: KG to 05

Charter School: N

Middle Schools

Eagleview Middle School

Magnet School: N

1325 Vindicator Drive COLORADO SPRINGS CO 80919

Grades: 06 to 08

Charter School: N

Mountain Ridge Middle School

Magnet School: N

9150 Lexington Drive COLORADO SPRINGS CO 80920

Grades: 06 to 08

Charter School: N

High Schools

Village High School

Magnet School: N

1110 Chapel Hills Drive COLORADO SPRINGS CO 80920

Grades: 09 to 12

Charter School: N

Rampart High School

Magnet School: N

8250 Lexington Drive COLORADO SPRINGS CO 80920

Grades: 09 to 12

Charter School: N

Magnet School: N

Area Desc:

Distance: 1.18 Miles

Title One: NO

719-234-3400

Area Desc:

Distance: 1.73 Miles

Title One: NO

719-234-3200

Area Desc:

Distance: 3.47 Miles

Title One: NO

719-234-1970

Area Desc:

Distance: 2.37 Miles

Title One: NO

719-234-2000

Area Desc:

Distance: 3.02 Miles

Title One: NO

Your assigned school should be the first school in each category, but it is recommended you check with the district or school. The above is believed to be accurate, but is not guaranteed. Copyright © 1995-2024 CDS Marketing, Inc.

ACADEMY 20 SCHOOL DISTRICT

ROCKRIMMON ELEMENTARY

EAGLEVIEW MIDDLE

VILLAGE HIGH

COMMUNITY

CITY OF COLORADO SPRINGS

478,961

POPULATION

2010 Census Data

$45,081

MEDIAN INCOME

2000 Census Data

34.00

AGE

Census Data

Colorado Springs is the second-most populous city and the most extensive city in the state of Colorado, and the 39th-most-populous city in the United States. It is the principal city of the Colorado Springs metropolitan area and the second-most prominent city of the Front Range Urban Corridor. It is located in east-central Colorado on Fountain Creek, 70 miles south of Denver.

SCHOOL DISTRICTS

 Colorado Springs

 Academy

 Falcon

 Widefield

 Harrison

 Cheynne

 Fountain-Fort Carson

HOUSING

2010 Census Data

 65.20% of homes owner occupied

 34.80% of homes rented

POPULATION DENSITY

2000 Census Data

 1,942.9 inhabitants per sq. mile

 148,690 housing units at an average density of 1,989.4 per sq. mile

AGE DEMOGRAPHIC

2010 Census Data

 26.5% under age 18

 10.3% between ages 18 to 24

 32.8% between ages 25 to 44

 20.8% between ages 45 to 64

 9.6% above age 65

CITY QUICK FACTS

 2nd largest city in Colorado

 195 square miles

 6,035 feet elevation



The Ute, Arapaho and Cheyenne peoples were the first recorded inhabiting the area which would become Colorado Springs. Part of the territory included in the United States' 1803 Louisiana Purchase, the current city area was designated part of the 1854 Kansas Territory. In 1859, after the first local settlement was established, it became part of the Jefferson Territory on October 24 and of El Paso County on November 28.

EL PASO COUNTY BASE MAP

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919 63074-02-098 EL PASO COUNTY CO Animal - Services

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919 63074-02-098 EL PASO COUNTY CO Grocers and Supermarkets

Vitamin Cottage Natural Groce1780 E Woodmen Rd719-536-96061.59 Mi Sam's Club1850 E Woodmen Rd719-277-04071.64 Mi

Cracker Barrel Old Country St8355 Razorback Rd719-260-77211.82

Contours Ladies Fitness Cente491 E Woodmen Rd719-260-00800.24

Colorado Springs Dietetic Ass6660 Delmonico Dr719-522-94970.51 Mi I Love Kickboxing Classes in207 W Rockrimmon Blvd719-388-20200.56 Mi

Academy1587

Penrose-st Francis Hlth Servs2215 N Cascade Ave719-776-50004.48

U S Air Force Academy Hospita4102 Pinion Dr719-333-51025.63 Mi Cedar Springs Hospital2135 Southgate Rd719-633-41148.83 Mi

- Acute Care

Centura Health-penrose St Fra2222 N Nevada Ave719-776-50004.48

Memorial Hospital Central1400 E Boulder St719-365-50006.37 Mi

Mount St Francis Nursing Cent7550 Assisi Hts719-598-13363.17

Center At Centennial, The3490 Centennial Blvd719-685-88883.69

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919

63074-02-098 EL PASO COUNTY CO

Nursing Homes

NameAddressTelephoneDistance

Colonial Columns Nursing Cent1340 E Fillmore St719-473-11053.99 Mi

Springs Village Care Center110 W Van Buren St719-475-86864.26 Mi

Pikes Peak Care And Rehabilit2719 N Union Blvd719-636-16764.35 Mi

Offices and Clinics of Chiropractors

NameAddressTelephoneDistance

Holliger, Maria V DC - Caring4975 Austin Bluffs Pky719-574-82784.75 Mi

Ohrdorf, Ronald T DC - Weber1220 N Weber St719-635-30855.44 Mi

Garrison, John C DC - Crossin627 N Weber St, #2719-471-73336.00 Mi

Williams, Danny C DC - Willia1819 W Colorado Ave719-635-35556.31 Mi

Lowenstein, MARC T DC - Accid1310 S 21st St719-630-70326.84 Mi

Offices and Clinics of Dentists

NameAddressTelephoneDistance

Roger N Meyer6665 Delmonico Dr719-599-57000.46 Mi

James A Burgess6685 Delmonico Dr719-598-28000.48 Mi

Philip T Bird7222 Commerce Center Dr719-593-04030.53 Mi

Allen Noel Benning415 W Rockrimmon Blvd #100719-598-77000.70 Mi

Kelly Donald O' Neal415 W Rockrimmon Blvd719-599-53400.70 Mi

Offices and Clinics of Medical Doctors

NameAddressTelephoneDistance

Salvaggione, Ronald G DC - Al405 Windchime Pl719-598-69550.12 Mi

Baker, Paul C MD - Access Fam6760 Corporate Dr, #270719-528-88220.40 Mi

Rockrimmon Animal Hospital6636 Delmonico Dr719-599-44380.49 Mi The above is believed to be accurate, but is not guaranteed. Copyright © 1995-2024

6845 MOUNTAIN TOP LN COLORADO SPRINGS CO 80919 63074-02-098 EL PASO COUNTY CO

UTILITIES & RESOURCES

UPDATER

Organize and complete all your moving-related tasks! WFG National Title has partnered with Updater, a time-saving free tool geared to simplify and ease the process of moving. Look for a personalized Updater invitation after we complete your Title Report. Registration is totally optional!

Use Updater to:

Forward USPS mail

Reserve a mover online

Update your accounts

Connect utilities

Hook up home services

Search move-in special offers

Share moving announcements with friends & family

For more information on Updater, visit; https://wfgtitle.updater.com/sign-up

CHANGE OF ADDRESS

USPS

Below is the website if you would like to change your address online or you can visit your local post office, they will provide you with the change of address packet.

https://moversguide.usps.com

Benefits you will receive when you change your address online are:

♦ Exclusive mover savings coupons

♦ Safe and secure with identity verification by a simple $1.00 charge to your credit or debt card

♦ Email confirmation at the end of registration of your change of address

* Must have valid email address and credit card to register online.

Colorado Department of Transportation

Below is the website if you would like to change your address online or have any questions.

Region 1 and Headquarters

Denver/Central Colorado 2829 W Howard Place Denver, CO 80204 (303) 759-2368

www.codot.gov

VOTER REGISTRATION

Below is the website if you would like to change your address online or you can fill out the paperwork provided and mail it back to your County Elections Office listed below.

sos.state.co.us/voter/pages/ub/home.xhtml

County Elections Office Contacts

Denver County 200 W 14th Ave Denver, CO 80204 (720) 913-8683

El Paso County 1675 W Garden of the Gods Rd Suite 2201 Colorado Springs, CO 80907 (719) 520-6202

Douglas County 125 Stephanie Place Castle Rock, CO 80109 (303) 660-7444

MOVING CHECKLIST

UTILITIES

Electric

NW Natural Gas

Water District

Sewer District

Garbage Provider

Cable/Satellite

Fuel (Propane)

Phone Services

Internet

FINANCIAL INSTITUTIONS

Banks and Credit Unions

Credit Card Companies (including department store credit cards)

Lenders

(Mortgage, Home Equity, Auto, Student Loans)

Insurance Companies (Health, Renters, Auto, Home, Medical, Dental, Disability, Life)

Retirement (Pension plans, 401K, Social Security, Veterans Affairs)

Investments (Investment Agencies and Brokers)

Online Bill Payer

Paypal

GOVERNMENT OFFICES

US Post Office

Department of Motor Vehicles

(Obtain your driver’s license and change vehicle registration)

IRS

Passport Office

Veteran Affairs

Unemployment Office

(If you are currently receiving unemployment benefits)

HEALTH

Physician

Pharmacies

SERVICE PROVIDERS

Childcare

Housecleaning Services

Delivery Services

Lawn Care Services

Veterinarian

Pool Service

MEMBERSHIPS

Health Clubs

Membership Clubs (AAA or similar)

Community Groups (PTA, Neighborhood Associations, Civic Clubs)

Children’s Extracurricular Activities (Dance Classes, Music Lesson, Sports Clubs)

SUBSCRIPTIONS

Newspapers

Magazine (USPS will only forward 2 months)

Movie Subscriptions

(Netflix, Blockbuster, etc)

Book or Music Clubs

OTHER

Friends and Family Employers

(typically notify the Human Resources Department)

MOVING CHECKLIST

8 WEEKS BEFORE YOUR MOVE

Inventory Sheets: Create an inventory sheet of all your belongings which need to be moved

Research Moving Options: You’ll need to decide if yours is a do-it-yourself move or if you’ll be using a moving company.

Request Moving Quote: Solicit moving quotes from as many moving companies and movers as possible. There can be a large difference between rates and services within moving companies.

Discard Unnecessary Items: Moving is a great time for ridding yourself of unnecessary items. Have a yard sale or donate unnecessary items to charity.

Packing Material: Gather moving boxes and packing material for your move.

Contact Insurance Companies: You’ll need to contact your insurance agent to cancel/transfer your insurance policy.

4 WEEKS BEFORE YOUR MOVE

Start Packing: Begin packing all things destined for your new location.

Obtain Your Medical Records: Contact your doctor, physician, dentist and other medical specialists who may currently be retaining any of your family’s medical records. Obtain these records or make plans for them to be delivered to your new medical facilities if changing. Security is critical of personal records.

Note Food Inventory Levels: Check your cupboards, refrigerator and freezer. Use up as much of your perishable food as possible.

Small Engines: Service small engines for your move by extracting gas and oil from the machines. This will reduce that chance to catch fire during your move.

Protect Jewelry and Valuables: Transfer your jewelry and valuables to a safety deposit box; you don’t want them to be lost or stolen during your move.

Borrowed and Rented Items: Return items which you may have borrowed or rented. Collect items borrowed to others.

1 WEEK BEFORE YOUR MOVE

Your Change of Address: Change your address with the USPS, DMV, Financial Institutions, Utilities, Government Offices, Health Care Service Providers, Memberships, Subscriptions and Insurance Provisions.

Bank Accounts: Transfer or close bank accounts if changing banks. Make sure to have a money order for paying the moving company.

Service Automobiles: If automobiles are to be driven long distance, you’ll want to have them serviced so you have a trouble-free drive.

Cancel Services: Notify any remaining service providers (newspapers, lawn services, etc.) of your move.

Travel Items: Set aside all items you’ll need while traveling. Make sure these are not packed on the moving truck..

Contact Utility Companies: Set utility turnoff date, seek refunds and deposits and notify them of your new address.

MOVING DAY

Plan Your Itinerary: Make plans to spend the entire day at the house or at least until the movers are on their way. Someone will need to be around to make decisions. Make plans for kids and pets to be at a sitters for the day.

Review the House: Once the house is empty, check the entire house (closets, attic, basement, etc.) to ensure no items are left or no home issues exist.

Double Check With Your Mover: Ensure the mover has the new property address and all of your most recent contact information, should they have any questions during your move.

Vacate Your Home: Make sure utilities are o ff , doors and windows are locked and notify your real estate agent you’ve vacated the property.

Questions To Ask: Where is the garage door opener? Where are the keys to the house, mailbox and other lockable area? Did you retrieve all keys from neighbors and friends?

TITLE & ESCROW

CYBER SECURITY

Because of you… we obsess over cyber security!

Cyber fraud and email hacking is on the rise. Fraudsters may access individual email accounts and monitor the life of your transaction. At the time funds are due to the escrow, fraudsters intercept the information for wiring funds and the fraudsters change the information without the knowledge of the sender or recipient, resulting in the funds being sent to an outside account and never credited to the intended party.

To protect and reduce your risk, WFG has implemented the following procedures for outgoing and incoming wires:

Outgoing Wire from WFG to seller or borrower for proceeds

In the escrow paperwork provided you will be asked to provide written instructions on how you want funds dispersed at the close of escrow. If you choose to have the funds sent via wire transfer, WFG will contact you by phone to confirm the wire information provided.

Incoming Wires from buyer and/or lender to WFG bank account

For funds that are to be wired to WFG for your transaction, we will send specific wire instructions to the remitting person via an encrypted email. We recommend you reach out to your WFG contact to confirm the wire instructions prior to remittance.

We look forward to processing your escrow transaction for you. We know that this can be a stressful time and we are here to assist you in any way we can to make this a good experience.

http://national.wfgnationaltitle.com/2016/04/05/obsess-cyber-security/

WHY IS OWNER’S TITLE INSURANCE IMPORTANT?

The purchase of a home is likely going to be one of the most expensive and important purchases you will ever make. You and your mortgage lender want to make sure the property is indeed yours and that no individual or government entity has any right, lien, claim, or encumbrance to your property.

The title insurance company’s function is to make sure your rights and interests to the property are clear, that transfer of title takes place efficiently, and correctly, and your interests as a homebuyer are protected. Title insurance companies provide services to buyers, sellers, real estate developers and builders, mortgage lenders, and others who have an interest in the real estate transfer. Title companies issue two types of policies“Owners Policy” (which covers the homebuyer) and “Lenders Policy” (which covers the bank, savings and loan, or other lending institution over the life of a loan). Both are issued at the time of purchase for a one-time premium.

The title company conducts an extensive search of public records to determine if anyone other than you has an interest in the property before issuing a policy. The search may be performed by title company personnel using either public records, or more likely, information gathered, reorganized, and indexed in the company’s title “plant”. With such a thorough examination of records, title problems can usually be found and cleared up prior to purchase of the property. Once a title policy is issued, if for some reason any claim, which is covered under your title policy, is ever filed against your property, the title company will pay the legal fees involved in defense of your rights as well as any covered loss arising from a valid claim. That protection, which is in effect as long as you or your heirs own the property, is yours for a one-time premium paid at the time of purchase.

The title company works to eliminate risks before they develop. This makes title insurance different from other types of insurance. Most forms of insurance assume risks by providing financial protection through a pooling of risks or losses arising from unforeseen events, like fire, theft, or accident. The purpose of title insurance, on the other hand, is to eliminate risks and prevent losses caused by defects in title that happened in the past. Risks are examined and mitigated before property changes hands. Eliminating risk has benefits to both of you, the home buyer, as well as the title company. It reduces the chance adverse claims might be raised, and by doing so reduces the number of claims that have to be defended or satisfied. This keeps costs down for the title company and your title premiums low. With title insurance you are assured that any valid claim against your property will be taken on by the title company, and that the odds of a claim being filed is slim.

WHAT IS ESCROW

When your offer has been accepted and conveyed, escrow is opened. An escrow is an arrangement made under contract between a buyer and seller. As the neutral third party, escrow is responsible for receiving and disbursing money and/ or documents. Both the buyer and seller expect the escrow agent to carry out their written instructions associated with the transaction and also to advise them if any of their instructions are not being met, or cannot be met. If the instructions from all parties to an escrow are clearly set out, the escrow officer can proceed on behalf of the buyer and seller without further consultation.

TYPICAL ROLES IN THE CLOSING PROCESS

The Seller/Agent

 Delivers Purchase Sale Agreement to the escrow agent

 Prepares the paperwork necessary to close the transaction

The Buyer/Agent

 Deposits funds required to close with the escrow agent

 Approves the commitment for title insurance, or other items as called for by the Purchase Sale Agreement

 Executes the paperwork and loan documents necessary to close the transaction

The Lender

 Deposits loan documents to be provided by the buyer

 Deposits the loan funds

 Informs the escrow agent of the conditions under which the loan funds may be used

The Escrow Agent

 Clears Title

 Obtains title insurance

 Obtains payoffs and release documents for underlying loans on the property

 Receives funds from the buyer and/or lender

 Prepares vesting document affidavit on seller’s behalf

 Prorates insurance, taxes, rents, etc.

 Prepares a final statement (often referred to as the Closing Disclosure or CD) for each party, indicating amounts paid in conjunction with the closing of your transaction

 Forwards deed to the county for recording

 Once the proper documents have been recorded, the escrow agent will distribute funds to the proper parties

Escrow is the process that gathers and processes many of the components of a real estate transaction. The sale is officially closed when the new deed is recorded and funds are available to the seller, in turn transferring ownership from the seller to the buyer. The escrow agent is a neutral third party acting on behalf of the buyer and seller.

WHAT IS TITLE

Title insurance insures against financial loss from defects in title, liens, or other matters. It protects both purchasers and lenders against loss by the issuance of a title insurance policy. Usually, during a purchase transaction the lender requests a policy (commonly referred to as the Lender’s Policy) while the buyers receive their own policy (commonly referred to as an Owner’s Policy).

It will protect against lawsuits if the status of the title to a parcel or real property is other than as represented, and if the insured (either the owner or lender) suffers a loss as a result of a title defect. The insurer will reimburse the insured for that loss and any related legal expenses.

How is title insurance different than other types of insurance?

While the purpose of most other types of insurance is to assume risk through the pooling of monies for losses happening because of unforeseen future events (like sickness or accidents), the primary purpose of title insurance is to eliminate risks and prevent losses caused by defects in title arising out of events that have happened in the past. To achieve this, title insurers perform a thorough search and examination of the public records to determine whether there are any adverse claims (title defects) attached to the subject property. These defects/claims are either eliminated prior to the issuance of a title policy or their existence is excepted from coverage. The policy is issued after the closing of your new home, for a one time nominal fee, and is good for as long as you own the property.

What’s involved in a title search?

A title search is made up of three separate searches:

 Chain of Title – History of the ownership of the subject property

 Lien & Encumbrance Search – Discloses liens and encumbrances on the subject property

 Exceptions from Coverage Search –Includes Easements, Covenants, Conditions and Restrictions, etc.

After the three searches have been completed, the file is reviewed by an examiner who determines:

 If the Chain of Title shows that the party selling the property has the rights to do so.

 Whether there are any unsatisfied judgments on the Judgment and Name Search against the previous owners, sellers, or/and purchasers.

Rights established by judgment decrees, unpaid federal income taxes, and mechanics liens all may be prior claims on the property, ahead of the buyer’s or lender’s rights. The title search will only uncover issues in title that are of public record and therefore allowing the title company to work with the seller to clear up these issues and provide the new buyer with title insurance.

Once the searches have been examined, the title company will issue a commitment, stating the conditions under which it will insure title. The buyer, seller, and the mortgage lender will proceed with the closing of the transaction after clearing up any defects in the title that have been uncovered by the search and examination.

WHO PAYS FOR WHAT IN COLORADO

The Seller

 Real Estate Commission

 Document preparation fee for Deed

 Payoff of all loans in the seller’s name (or existing loan balance if being assumed by Buyer)

 Interest accrued to lender being paid off

 Statement Fees, Reconveyance Fees, and any prepayment penalties to Payoff Lender

 Home Warranty (according to contract)

 Any judgments, tax liens, etc. against the seller

 Tax proration (for any taxes unpaid at time of transfer of title)

 Any unpaid Homeowners’ Association dues

 Recording charges to clear documents of record against seller

 Any bonds or assessments (according to contract)

 Any and all delinquent taxes

 Notary Fees

Personal Property vs. Real Property

The Buyer

 Title Insurance Premium for Lender’s Policy

 Escrow Fee (one half)

 Document preparation (if applicable)

 Notary fees

 Recording charges for all documents in Buyers’ names

 Tax proration (from date of acquisition)

 Homeowners’ Association transfer fee

 HOA proration (from date of acquisition)

 All new loan charges (except those required by lender for seller to pay

 Interest on new loan from date of funding to 30 days prior to first payment date

 Assumption/Change of Record fees for takeover of existing loan (if applicable)

 Beneficiary Statement Fee for assumption of existing loan (if applicable)

 Inspection Fees (roofing, property inspection, geological)

 Home Warranty (according to contract)

 Fire Insurance Premium for first year

 Any bonds or assessments (according to contract)

The distinction between personal property and real property can be the source of difficulties in a real estate transaction. A purchase contract is normally written to include all real property; that is, all aspects of the property that are fastened down or which are an integral part of the structure. For example, this would include light fixtures, drapery rods, attached mirrors, and trees and shrubs in the ground. It would not include potted plants, free-standing refrigerators, washer/dryer, microwave, bookcases, lamps, etc. If there is any uncertainty whether an item is included in the sale or not, it is best to be sure that the particular item is mentioned in the purchase agreement as being included or excluded.

DISCLAIMER:

This information is provided for informational purposes only and no warranties are made.

TITLE VESTING

TENANCY IN SEVERALTY

Ownership of property vested in one person rather than held jointly with another.

JOINT TENANCY WITH RIGHT OF SURVIVORSHIP TENANCY IN COMMON

Parties need not be married; may be more than two persons.

Parties need not be married; may be more than two persons.

Also called sole tenancy.

The sole owner may use, encumber, rent, sell, and convey at their discretion.

The owner may transfer the property via a Will, Trust, or a Beneficiary Deed upon their death.

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

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

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

Each joint tenant holds an undivided fractional interest in the estate. May be disproportionate interest e.g. 20% and 80%; 40% and 60%; etc.

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

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

Requires signatures of all to convey or encumber the whole.

Estate passes to surviving joint tenants outside of probate.

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

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

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

DISCLAIMER – The foregoing contains informational examples only and is not to be construed as legal advice. Given the complexities involved in acquiring and holding legal title to real property, WFG strongly recommends that you seek legal advice from an attorney prior to doing so.

55 Madison Street, Suite 690

Denver, CO 80206 (720) 475-8325

NORTH

12050 N Pescos Street, Suite 110 Westminster, CO 80234 (720) 475-8350

8610 Explorer Drive, Suite 105

Colorado Springs, CO 80920 (719) 598-5355

7800 E Union Avenue, Suite 310

Denver, CO 80237 (720) 475-8300

3. DENVER TECH CENTER / COMMERCIAL

4.

METRO OFFICE

2. COLORADO SPRINGS OFFICE

1. CHERRY CREEK OFFICE

TABLE OF CONTENTS

Altos Market Report

WFG’s My Home

Talking House Tent Cards

CC&R’s (if applicable)

The information contained is provided by WFG’s Customer Service Department to our customers, and while deemed reliable, is not guaranteed.

Colorado Springs, CO 80919

This week the median list price for Colorado Springs, CO 80919 is $372,000 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has increased to 22.

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Real-Time Market Profile

Median List Price $372,000 Median Price of New Listings $399,450 Per Square Foot $220

Strong Seller's Market

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Market Segments

Strong Seller's Market

Each segment below represents approximately 25% of the market ordered by price.

Colorado Springs, CO 80919

Median List Price

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Segments

In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 is on a bit of an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.

Colorado Springs, CO 80919

Price Per Square Foot

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

Colorado Springs, CO 80919

Market Action Index

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Market Action Segments

Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

Colorado Springs, CO 80919

Median Days on Market (DOM)

The properties have been on the market for an average of 119 days. Half of the listings have come newly on the market in the past 77 or so days. Watch the 90-day DOM trend for signals of a changing market.

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

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CONSUMER EXPERIENCE TIMELINE

TRANSACTION CLOSED

GATHER UP

SIGNING SCHEDULED

CLOSE TO SIGNING

TITLE CLEARED

UPDATER INVITATION

TITLE REPORT DELIVERED

TRANSACTION STARTED

MIDPOINT FEEDBACK

EARNEST MONEY

Covenants, Conditions & Restrictions

We believe these are the correct conditions and restrictions.

However, no examination of title has been made and WFG National Title assumes no liability for any additions, deletions or corrections.

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