HOME & COMMUNITY
5512 S BLUERIDGE DRIVE SPOKANE, WA 99224

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


The information contained is provided by WFG’s Customer Service Department to our customers, and while deemed reliable, is not guaranteed.
5512 S BLUERIDGE DR SPOKANE, WA 99224
OWNER INFORMATION
OWNER NAME: Marcelli, Kevin & Ingrit
VESTING:
MAILING ADDRESS: 4324 S Scott Spokane WA 99203
OWNER STATUS: Non-owner occupied
LOCATION DESCRIPTION
COUNTY: Spokane
CENSUS / BLOCK: 013500 / 2014
TSP - RNG - SEC: 24N - 43E - 06
LOT / BLOCK: 6 / 7
HOUSING TRACT: Eagle Ridge 8th Add
ALT PARCEL #:
SCHOOL DISTRICT: Cheney
MUNICIPALITY: Eagle Ridge 8th Add
PARCEL #: 34062.5106
LAST MARKET SALE
DATE: 05/04/2021
SALE PRICE: $595,000
DOCUMENT #: 7070426
DOC TYPE: Deed
SQUARE FOOT $: $294.85
LENDER: HOME ST BK
LOAN: $595,000
LOAN TYPE: VA
LOAN TERM: 30 Y
PRIOR SALE
DATE: 05/04/2021
SALE PRICE: $595,000
DOCUMENT #: 7070425
DOC TYPE: Deed
LENDER:
LOAN: $0
LOAN TYPE:
GROSS AREA: 2,018
LIVING AREA:
ABOVE GRADE:
BEDROOMS: 3
BATHROOMS (F/H): 2 / 0
FIREPLACE: 0
YEAR BUILT: 2014
PARKING TYPE: Attached
UNITS: 1
BASEMENT:
GARAGE AREA: 772
ROOF SHAPE: Gable
FOUNDATION: Concrete
ROOF MATERIAL: Comp sh medium
CONSTRUCTIONS:
HEAT TYPE: Forced Hot Air-Gas
COOLING TYPE:
EXTERIOR WALL: Wood Frame
ROOMS: 6
QUALITY:
INTERIOR WALL:
PORCH TYPE:
PATIO TYPE:
AIR COND: N
FIXTURES:
FLOOR:
EQUIPMENT:
STORIES: 1
POOL:
CONDITION: Very Good
LAND USE: Single Unit
ZONING: Residential Single-Family
COUNTY USE:
LOT ACRES: 0.3438
STATE USE:
LOT SQ FT: 14,974
LEN / WID:
ASSD YEAR: 2022
ASSD VALUE: $447,700
TAXABLE VAL:
TAX YEAR: 2022
LAND VALUE:
MKT VALUE:
TAX AREA: 0050
IMP VALUE:
EXEMPTIONS:
PROPERTY TAX: $4,807.80
IMPROVED %:
DISTRICT:
C O M M U N I T Y
Central Valley
Cheney
Deer Park
East Valley
Great Northern
Freeman
Liberty
Mead
Medical Lake
Newport
Nine Mile Falls
Orchard Prairie
Reardan-Edwall
Riverside
Rosalia
Spokane
St. John
Tekoa
West Valley
POPULATION DENSITY
3,526 inhabitants per sq. mile
94,291 housing units at an average density of 1,591.4 per square mile
AGE DEMOGRAPHIC
22.4% under age 18
12.3% between ages 18 to 24
27.6% between ages 25 to 44
25.1% between ages 45 to 64
12.8% above age 65
CITY QUICK FACTS
69.50 square miles
1,843 feet elevation
Highest Average Temperature 87
Lowest Average Temperature 25.6
Emergency Police/Medical/Fire
911
Poison Control (800) 222-1222
www.aapcc.org
United States Postal Service
(800) 275-8777
www.usps.com
Xfinity (800) 266-2278
www.xfinity.com
Frontier Communications
(800) 921-8101
www.frontier.com
Verizon (800) 483-4100
www.verizon.com
AT&T (800) 288-2020
www.att.com
CenturyLink (866) 963-6665
www.centurylinkcom
Dish Network
(800) 318-0572 www.dish.com
DIRECT TV (800) 531-5000 www.directtv.com
The Spokesman-Review (509) 747-4422
www.spokesman.com
Inlander
(509) 325-0634
www.inlander.com
Spokane Journal of Business
(509) 456-5257
www.spokanejournal.com
Spokane Transit (509) 328-7433
www.spokanetransit.com
Northwest Natural Gas (800) 422-4012
www.nwnatural.com
City of Spokane Water Provider (509) 625-7800
www.my.spokanecity.org/water
Spokane Solid Waste Management (509) 343-9652
www.my.spokanecity.org/ solidwaste
Spokane School District (509) 354-5900
www.spokaneschools.org
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://wfgwashington.updater.com/sign-up
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 $100 charge to your credit or debit card
Email confirmation at the end of registration of your change of address
* Must have valid email address and credit card to register online
AUTO REGISTRATION AND DRIVER LICENSING
Below is the website if you would like to change your address online or you can visit your local department of licensing
Department of Licensing
Spokane County Motor
Vehichle Licensing
1116 W Broadway Ave 1st Floor
(509) 477-2222
dol.wa.gov
AIRWAY AUTO LICENSING
13101 W 14th Avenue (509) 244-1763
AUTO LICENSING PLUS
328 N Sullivan Road, Suite 7 (509) 927-4177
DEER PARK
222 W Crawford (509) 276-2177
DOWNTOWN
628 S Washington (509) 455-8320
MARKET STREET
4011 N Market Street (509) 290-5527
NORTH SPOKANE
10208 N Division, Suite 109 (509) 464-2294
SOUTH HILL 2727 S Mount Vernon, Suite 3B (509) 534-6022
SPOKANE VALLEY 9405 E Sprague Avenue (509) 928-7981
A citizen of the USA
A Legal Resident of Washington State at least 18 years of age on or before the next election
In the State of Washington, you do not have to register by political party or declare a political party membership to vote in the state’s regular primaries or general election
Washington citizens have access to several convenient methods of signing up to vote, including registration by mail and Motor Voter registration.
Mail-in registration forms are available from your county auditor or county elections department as well as other government offices, public libraries, and schools.
Motor Voter registration is offered when you renew or apply for your driver’s license. In most instances, it takes less than a minute.
You may register to vote at any time, but you must be registered at least 30 days before an election, if you want to vote on election day
You may also register between 15 and 30 days before an election, but you must do so at a location designated by the county elections office, and you will be required to vote by absentee ballot
If you move to a new county, you must complete a new voter registration, otherwise you must request a transfer of your registration.
Voter Information Hotline: (800) 448-4881 TTY (800) 422-8683
Spokane County Voter Registration: (590) 477-2320
UTILITIES
Electric
NWNaturalGas
WaterDistrict
SewerDistrict
GarbageProvider
Cable/Satellite
Fuel(Propane)
PhoneServices
Internet
BanksandCreditUnions
CreditCardCompanies (includingdepartmentstorecreditcards)
Lenders
(Mortgage,HomeEquity,Auto,StudentLoans)
InsuranceCompanies
(Health,Renters,Auto,Home,Medical,Dental,Disability,Life)
Retirement
(Pensionplans,401K,SocialSecurity,VeteransAffairs)
Investments(InvestmentAgenciesandBrokers)
OnlineBillPayer
Paypal
USPostOffice
DepartmentofMotorVehicles
(Obtainyourdriver’slicenseandchangevehicleregistration)
IRS
PassportOffice
VeteranAffairs
UnemploymentOffice
(Ifyouarecurrentlyreceivingunemploymentbenefits)
HEALTH
Physician Pharmacies
SERVICE PROVIDER
Childcare
Housecleaning Services
Delivery Services
Lawn Care Services
Veterinarian Pool Service
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
Book or Music Clubs
OTHER
Friends and Family
Employers(typically notify the HR Department)
InventorySheets:Createaninventorysheetofallyour belongingswhichneedtobemoved
ResearchMovingOptions:You’llneedtodecideifyoursisa do-it-yourselfmoveorifyou’llbeusingamovingcompany
RequestMovingQuote:Solicitmovingquotesfromasmany movingcompaniesandmoversaspossible Therecanbea largedifferencebetweenratesandserviceswithinmoving companies
DiscardUnnecessaryItems:Movingisagreattimefor riddingyourselfofunnecessaryitems Haveayardsaleor donateunnecessaryitemstocharity
PackingMaterial:Gathermovingboxesandpacking materialforyourmove
ContactInsuranceCompanies:You’llneedtocontactyour insuranceagenttocancel/transferyourinsurancepolicy
YourChangeofAddress:Changeyouraddresswiththe USPS,DMV,FinancialInstitutions,Utilities,Government Offices,HealthCareServiceProviders,Memberships, SubscriptionsandInsuranceProvisions
BankAccounts:Transferorclosebankaccountsifchanging banks Makesuretohaveamoneyorderforpayingthe movingcompany
ServiceAutomobiles:Ifautomobilesaretobedrivenlong distance,you’llwanttohavethemservicedsoyouhavea trouble-freedrive
CancelServices:Notifyanyremainingserviceproviders (newspapers,lawnservices,etc)ofyourmove
TravelItems:Setasideallitemsyou’llneedwhiletraveling
Makesurethesearenotpackedonthemovingtruck
ContactUtilityCompanies:Setutilityturnoffdate,seek refundsanddepositsandnotifythemofyournewaddress
StartPacking:Beginpackingallthingsdestinedforyournew location
ObtainYourMedicalRecords:Contactyourdoctor,physician, dentistandothermedicalspecialistswhomaycurrentlybe retaininganyofyourfamily’smedicalrecords Obtainthese recordsormakeplansforthemtobedeliveredtoyournew medicalfacilitiesifchanging Securityiscriticalofpersonal records
NoteFoodInventoryLevels:Checkyourcupboards, refrigeratorandfreezer Useupasmuchofyourperishable foodaspossible
SmallEngines:Servicesmallenginesforyourmoveby extractinggasandoilfromthemachines Thiswillreduce thatchancetocatchfireduringyourmove
ProtectJewelryandValuables:Transferyourjewelryand valuablestoasafetydepositbox;youdon’twantthemtobe lostorstolenduringyourmove
BorrowedandRentedItems:Returnitemsthatyoumay haveborrowedorrented Collectitemsborrowedtoothers
PlanYourItinerary:Makeplanstospendtheentiredayat thehouseoratleastuntilthemoversareontheirway Someonewillneedtobearoundtomakedecisions Make plansforkidsandpetstobeatasittersfortheday ReviewtheHouse:Oncethehouseisempty,checkthe entirehouse(closets,attic,basement,etc)toensureno itemsareleftornohomeissuesexist
DoubleCheckWithYourMover:Ensurethemoverhasthe newpropertyaddressandallofyourmostrecentcontact information,shouldtheyhaveanyquestionsduringyour move
VacateYourHome:Makesureutilitiesareoff,doorsand windowsarelockedandnotifyyourrealestateagentyou’ve vacatedtheproperty
QuestionsToAsk:Whereisthegaragedooropener?Where arethekeystothehouse,mailboxandotherlockablearea? Didyouretrieveallkeysfromneighborsandfriends?
THE HOME DEPOT
(800) 466-3337
www homedepot com
E Vancouver (360) 254-6289
330 SE 192nd Avenue
Vancouver, WA 98683
Vancouver
(360) 253-3993
8601 NE Andresen Rd
Vancouver, WA 98665
Jantzen Beach
(503) 289-9200
1728 N Tomahawk Island Dr
Portland 97217
NE Portland
(503) 252-0188
11633 NE Glen Widing Dr
Portland 97220
LOWES
(800) 466-3337
www lowes com
E Vancouver
(360) 260-2120
18801 SE Mill Plain Blvd
Vancouver, WA 98662
Lacamas Lake
(360) 514-9660
11413 NE 76th St
Vancouver, WA 98683
Portland -Delta Park
(503) 737-3000
1160 N Hayden Meadows Dr
Portland 97217
DONATION FACILITIES
Goodwill (800) 741-0186 locator.goodwill.org
The Salvation Army (800) 958-7825
wwwsalvationarmyusaorg
MOVING TRUCK RENTALS
Budget (800) 462-8343
www.budgettruck.com
Penske (888) 996-5415
wwwpensketruckrentalcom
Ryder (800) 297-9337
wwwrydercom
U-Haul
(800) 468-4285
wwwuhaulcom
STORAGE COMPANIES
NW Self Storage
wwwnwselfstorage
Public Storage (800) 906-0879
wwwpublicstoragecom
Pods (888) 309-8967
www.pods.com
TRANSFER STATIONS
Garbage/Recycling
Central Transfer & Recycling
(360) 256-8482
columbiaresourcecompanycom
11034 NE 117th Avenue
Vancouver, WA 98686
Washougal Transfer Station
(360) 835-2500
columbiaresourcecompanycom
4020 S Grant Street
Washougal, WA 98671
West Vancouver (360) 737-1727
columbiaresourcecompanycom
6601 NW Old Lower River Rd
Vancouver, WA 98660
AIRPORT
Spokane International Airport (509) 455-6455
www.spokaneairports.net
AUTO & DRIVER REGISTRATION
DMV (360) 902-3900
wwwdolwagov
BUS SERVICE
Spokane Transit (509) 328-7433
wwwspokanetransitcom
Greyhound (800) 231-2222
wwwgreyhoundcom
Northwestern Stage Lines (509) 838-4029
wwwnorthwesternstagelinescom
CABLE TV & INTERNET
Verizon (888) 881-8161
wwwverizoncom
XFINITY (Comcast) (800) 934-6489
wwwcomcastcom
CITY CONTACT
Airway Heights (509) 244-5578
wwwcawhorg
Cheney (509) 498-9200
wwwcityofcheneyorg
Deer Park (509) 276-8801
www.cityofdeerparkwa.com
CITY CONTACT CONTINUED
Liberty Lake (509) 755-6700
www.libertylakewa.gov
Medical Lake (509) 565-5000
wwwmedical-lakeorg
Millwood (509) 924-0960
wwwmillwoodwaus
Spangle (509) 245-3260
wwwcitydirectoryus/townspangle
Spokane (509) 755-2489
wwwmyspokanecityorg
Spokane Valley (509) 720-5000
wwwspokanevalleyorg
Fairfield (509) 283-2414
wwwfairfieldwacom
Latah (509) 286-3471
www.latahwa.com
Rockford (509) 291-4716
wwwrockfordwacom
Waverly (509) 283-4122
wwwcitydirectoryus/townwaverly-washington
COUNTY CONTACT
Spokane (509) 477-2240
www.spokanecounty.org
Taxation (509) 477-3698
ELECTRICITY
Inland Power (509) 747-7151
www.inlandpower.com
Modern Electric Water Company (509) 928-4540
wwwmodernelectricwatercom
Avista (800) 227-9187
wwwmyavistacom
HOSPITALS
MultiCare Deaconess Hospital (509) 473-5800
www.multicare.org
MultiCare Valley Hospital (509) 924-6650
wwwmulticareorg
Providence Holy Family Hospital (509) 482-0111
wwwwashingtonprovidenceorg
Providence Sacred Heart Medical Center & Children’s Hospital (509) 474-3131
wwwwashingtonprovidenceorg
Shriners Hospital for Children (509) 455-7844
wwwshrinershospitalsforchildrenorg
NATURAL GAS
Avista Utilities (800) 227-9187
wwwmyavistacom
Cheney Free Press (509) 235-6184
www.cheneyfreepress.com
Spokesman-Review (509) 459-5000
wwwspokesmancom
The Tribune (509) 276-5043
wwwdptribunecom
Valley News Herald (509) 924-2440
Liberty Lake Splash (509) 242-7752
www.libertylakesplash.com
Inlander (509) 325-0634
www.inlander.com
RECREATION
Fair & Expo Center (509) 477-1766
wwwspokanecountyorg
Spokane Convention Center (509) 279-7000
www.spokanecenter.com
Mt Spokane Ski & Snowboard (509) 238-2220
wwwmtspokanecom
Mobius Discovery Center (509) 321-7121
wwwmobiusdiscoverycenterorg
Eagles Ice Arena (509) 489-9295
wwweaglesicearenacom
Wonderland Family Fun Centre (509) 468-4386
wwwwonderlandspokanecom
Pattisons North Skating Rink (509) 466-8133
www.pattisonsnorth.com
Splashdown Family Waterpark (509) 924-3079
wwwsplashdownwaterparknet
Riverfront Park (509) 625-6600
wwwmyspokanecityorg/ riverfrontspokane
Mica Moon Zip Tours (509) 587-4020
wwwmicamooncom
The Blue Zoo (877) 425-8396
wwwbluezoous
Spokane Civic Theatre (509) 325-2507
wwwspokanecivictheatrecom
Spokane Valley Heritage Museum (509) 922-4570
wwwspokanevalleymuseumcom
Spokane Arena (509) 279-7000
wwwspokanarenacom
Indian Canyon Golf Course (509) 747-5353
The Creek at Qualchan Golf Club (509) 448-9317
Downriver Golf Course (509) 327-5269
Liberty Lake Golf Course (509) 255-6233
Latah Creek Golf Course (509) 448-1212
Nishinomiya Tsutakawa Japanese Garden (509) 363-5455
Cougar Crest Estate Winery (509) 241-3850
wwwcougarcrestwinerycom
Cheney Historical Museum (509) 850-0314
wwwcheneymuseumorg
Lilac Garden (509) 625-6624
Spokane Chiefs Hockey (509) 328-0450
www.spokanechiefs.com
Spokane County Raceway (509) 988-0106
www.spokanecountyraceway.com
Spokane Indians Baseball (509) 343-6886
wwwmilbcom/spokane
Spokane Symphony (509) 326-3136
wwwspokanesymphonyorg
Regal Cinemas (800) FANDANGO
wwwregalcinemascom
Silverbow Guided Fly Fishing (509 924-9998
wwwsilverbowflyshopcom
Lake Roosevelt Fishing Charters (509) 464-9657
www.lakerooseveltcharters.com
Row Adventure Center (866) 836-9340
wwwrowadventurecentercom
SHOPPING
Spokane Valley Mall (509) 926-5575
www.spokanevalleymall.com
NorthTown Mall (509) 482-0209
wwwnorthtownmallcom
River Park Square (509) 363-0304
wwwriverparksquarecom
Northtown Square (509) 951-9720
wwwnorthtownsquarecom
Silver Lake Mall (208) 762-2113
wwwsilverlakecenter
TELEPHONE SERVICE
Verizon (800) 483-4100
wwwverizoncom
AT&T (800) 288-2020
wwwattcom
TRANSFER STATIONS
Spokane County North (509) 477-6800
wwwspokanecountyorg
22123 N Elk Chattaroy Rd
Colbert, WA 99005
Spokane County Valley (509) 477-6800
wwwspokanecountyorg
3941 N Sullivan Rd
Spokane Valley, WA 99216
Spokane Waste to Energy Facility (509) 625-6580
2900 S Geiger Blvd
Spokane, WA 99208
Spokane County (509) 477-2320
COUNTY DEPARTMENTS
Sheriff (509) 477-2240
Fire
(509) 625-7000
Humane Society (509) 467-5235
Assessor (509) 477-3698
Auditor (509) 477-2217
Building & Planning
(509) 477-3675
District Court (509) 477-4770
Road Maintenance (509) 477-3600
Treasurer
(509) 477-4713
Veteran Services
(509) 477-3690
COLLEGES & UNIVERSITIES
Gonzaga University
(800) 986-9585
wwwgonzagaedu
Whitworth University (509) 777-1000
wwwwhitworthedu
Spokane Community College
(509) 533-7000
wwwsccspokaneedu
WATER BUREAU
Airway Heights (509) 244-5429
Cheney (509) 498-9293
Deer Park (509) 276-8801
Liberty Lake
(509) 922-5443
Medical Lake
(509) 565-5000
Millwood (509) 926-4563
Spangle (509) 245-3260
Spokane (509) 625-7800
Spokane Valley (509) 625-7800
Fairfield (509) 283-2414
Latah (509) 286-3471
Rockford (509) 291-4716
Waverly (509) 625-7800
g p , g 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:
In the escrow paperwork provided you will be asked to provide written instructions on how you want funds due you sent to you 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.
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://nationalwfgnationaltitlecom/2016/04/05/obsess-cyber-security/
claims or restrictions on the buyers property, other than the mortgage the buyer agrees to pay.
If the preliminary title search uncovers potential problems, a buyer can require that those problems are satisfactorily dealt with before closing on the home.
In addition, owner’s title insurance protects buyers against a myriad of risks that not even the most careful title search can uncover, including things such as forged documents, undisclosed or missing heirs of a previous owner, fraud, will dispute, and unrecorded claims of many types.
Without the owner’s title insurance, the legal costs to resolve such title claims could easily be in the tens of thousands of dollars and would have to be paid out of pocket by the buyer - not to mention the stress that such situations would cause to the buyer
Owner’s title insurance is one of the most affordable insurance policies a person can ever buy Unlike other forms of insurance, there is only a one-time fee at closing for the policy, which financially protects the buyer’s investment for as long as the buyer or the buyer’s heirs own the home.
So, if someone tells the buyer that the owner’s title insurance is “optional”, that certainly does not mean that the buyer should not get it. Virtually every lender requires a lender’s title insurance, but that insurance does not protect the buyer.
In order to safeguard the buyer’s investment in the property, which is possibly the most important investment the buyer will ever make, owner’s title insurance is absolutely critical.
Why it's important
Both the buyer and seller rely on the escrow agent to carry out their written instructions relating to the transaction and to advise them if any of their instructions are not mutually consistent or cannot be carried out. If the instructions from all parties to an escrow are clearly drafted, the escrow officer can proceed on behalf of the buyer and seller without further consultation. This saves much time and facilitates the closing of the transaction.
The Seller/Agent
Delivers a fully executed Purchase Sale Agreement to the escrow agent. Executes the paperwork necessary to close the transaction
The Buyer/Agent
Deposits collected funds required to close (in 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 executed by the buyer
Deposits the loan proceeds
Directs 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 “HUD Statement” or ”Settlement Statement”) 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
In Summary
Escrow is the process that assembles 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, thus transferring ownership from the seller to the buyer
The escrow agent is a neutral third party acting
Title is a bundle of rights in real property. Protecting purchasers and lenders against loss is accomplished 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)
In short, the policy states that if the status of the title to a parcel of 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, up to the face amount of the policy, subject to exceptions and exclusions contained in the policy
Typically there are two policies issued. The Mortgagee’s Policy insures the lender for the amount of the loan. The Owner’s Policy insures the purchaser of the purchase price.
How is title insurance different from other types of insurance?
While the function of most other forms of insurance is risk assumption through the pooling of risks for losses arising out of unforeseen future events (such as 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 goal, title insurers perform an extensive search and examination of the public records to determine whether there are any adverse claims (title defects) attached to the subject property Said defects/claims are either eliminated prior to the issuance of a title policy
or their existence is excepted from coverage. Your 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 actually made up of three separate searches:
Chain of Title – History of the ownership of the subject property
Tax Search – The tax search reveals the status of the taxes and assessments
Judgment and Name Search – Searches for judgment and liens against the owners’ and purchasers’ names
Once the three searches have been completed, the file is reviewed by an examiner who determines:
Whether or not the Chain of Title shows that the party selling the property has the right to do so
The status of taxes for the subject property The Tax Search will also indicate the existence of any special assessments against the land and whether or not these assessments are current or past due
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 mechanic liens all may be prior claims on the property, ahead of the buyer’s or lender’s rights The title search will only uncover defects in title that are of public record, thus allowing the title company to work with the seller to clear up these issues and provide the new buyer with title insurance
After 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
Real estate commission
Owner’s title insurance premium
Escrow fee, one half (1)
Real estate excise tax (1.78%2 based on sales price)
Loan costs required under the FHA/VA provisions of the contract (4)
Payoff of all loans in Seller’s name (or existing loan balance if being assumed by Buyer)
Statement fees, reconveyance fees (including associated recording charges), and any loan prepayment penalties
Work orders, such as termite inspection or home repairs (1)
Home warranty (1)
Encumbrances (such as judgements and tax liens) against the seller
Tax pro-ration (for any unpaid taxes up to the time of transfer of title)
Delinquent taxes
Unpaid homeowner’s dues
Assessments or bonds (1)
Notary fees (if applicable)
Courier fees (if applicable)
1SubjecttoPurchaseandSale
Lender’s title insurance premium (if applicable)
Escrow fee, one half (1)
Recording charges for all documents in the buyer’s name
Inspection Fees (1)
Tax pro-ration (for any taxes from time of transfer of title to end of the tax payment period)
All new loan charges (except for those required by lender for seller to pay)
Hazard insurance premium for first year
Interest on a new loan from date o funding to 30 days prior to first payment
Document preparation (if applicable)
Home warranty1
Notary fees (if applicable)
Courier fees (if applicable)
Thisflyerisnotintendedtobeanall-inclusivelistoffeesand chargesoneverytransaction,butratheraguidetothemajor costsofbuyingorsellingrealproperty WFGwouldbehappyto reviewandexplainyourclosingcostpriortofinalizingthe transactions
2StateExciseTaxis128%plus050%forCountyTax(Mayvarybycounty,consultwithyourEscrowOfficer)
3FinancingAddendumtoPSA-$300maximumforanyfeesthatlendercanchargetoBuyer
4Upto$300FHA/USDA/VAloansandbuyer’sshareoftheescrowfeeforaVAloan
PARTIES DIVISION
JOINT TENANCY TENANCY IN COMMON COMMUNITY PROPERTY PARTNERSHIP
Any number of persons Any number of persons
Married persons and domestic partners Related or unrelated parties
Ownership interests must be equal
TITLE PURCHASER CONVEYANCE
There is only one title to the whole property
Purchaser will become a tenant in common with the other owners of the property
All owners must agree on use and disposition of property
DEATH
SUCCESSOR'S STATUS
Property passes to survivors without going through probate
Last survivor owns property
Ownership can be divided into any number of interests, equal or unequal
Each co-owner has a separate title to his or her undivided interest
Purchaser will become a tenant in common with the other owners of the property
Individual co-owners do not need the consent of the other to use or dispose
Individual's interest passes to designated heirs through probate
Devisees or heirs become tenants in common
Husband and wife’s or domestic partner’s interest must be equal
There is only one title to the whole property
Purchaser cannot acquire one owner’s interest and hold as community property
Husband and wife or domestic partners must agree to use and disposition of property
On spouse’s/ domestic partner’s death, surviving spouse/ domestic partner
Surviving spouse or domestic partner owns property
Ownership interest is in relation to interest in the partnership
Each co-owner’s interest is owned in partnership for partnership purposes
Purchaser can only acquire the whole title unless he or she becomes a partner
Partnership sets parameters for use and disposition of the property
Partnership interest passes to designated heirs who would become partners
Devisees or heirs have no rights in specific partnership property
Exhibit A
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.
This week the median list price for Spokane, WA 99224 is $769,450 with the market action index hovering around 70 This is less than last month's market action index of 74. Inventory has increased to 36
This answers “How’s the Market?” by comparing rate of sales versus inventory
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.
Each segment below represents approximately 25% of the market ordered by price.
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent upshift in the Market Action Index before we see prices move from these levels.
In the quartile market segments, we see most of this zip code is showing price weakness lately Notice however, that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.
While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
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.
Three of the four quartiles of this zip code are in the Seller’s Market zone with relatively low amounts of inventory given the current levels of demand. It’s not uncommon that the premium segment of the market takes longer to sell than the rest of the group.
The properties have been on the market for an average of 50 days. Half of the listings have come newly on the market in the past 9 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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TRANSACTION CLOSED
Notification sent one day after transaction is marked recorded.
Invitation to provide feedback and rate your experience. Sent 3 days after transaction closed.
CLOSE TO SIGNING
Notification is sent five days after Title is cleared.
Notification is sent to both Buyer and Seller.
All notifications include a link that can be used for registration and access to your MyHome® dashboard post registration.
UPDATER INVITATION
Notification is sent after Title Report is completed.
Notification is sent once all title curative items are received and ready for closing.
TITLE REPORT DELIVERED
Notification is sent after Title Report is completed.
MIDPOINT FEEDBACK
Notification is sent 15 days after Title Report is completed.
TRANSACTION STARTED
MyHome ® notifications start triggering to the Client once the order has been opened.
EARNEST MONEY
Notification is sent when earnest money is received by Escrow.
Contact us to schedule a demo or sign up for an account.
We believe these are the correct conditions and restrictions.
However, no examination of title has been made and WFG National Title assumes no liability.
R E S T R I C T I O N S