1116
Buyer: _____________
Buyer: _____________
Seller: _____________
Seller: _____________
**Exhibit A obtained from document recorded under recording number 202209220154 subject to change upon title examination**
Q: What is title insurance?
A: An opinion of the condition of title to real property, backed by an Insurance policy.
Q: Why do I need title insurance?
A: When you buy a home, or a property for that matter, you expect to enjoy certain benefits from ownership. For example, you expect to be able to occupy and use the property as you wish, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell or pledge your property as security for a loan. Title insurance is designed to cover these rights.
Q: What if I have a problem? Do I have to lose my property to make a claim?
A: Not at all At the mere hint of a claim adverse to your title, you should contact your title insurer who issued you policy Title insurance includes coverage for legal expenses which may be necessary to investigate, litigate or settle an adverse claim
Q: What does this cost?
A: The cost varies, depending mainly on the value of your property The important thing to remember is that you only pay once, and then the coverage continues in effect for so long as you have an interest in the covered property If you should die, the coverage automatically continues for the benefit of your heirs. If you sell your property, giving warranties of title to your buyer, your coverage continues. Likewise, if a buyer gives you a mortgage to finance a purchase of covered property from you, your coverage continues to protect your security interest in the property.
Q: If my lender gets title insurance for its mortgage, why do I also need a policy?
A: The lender’s policy covers only the amount of its loan, which is usually not the full property value. In the event of an adverse claim, the lender ordinarily wouldn’t be concerned unless its loan became non-performing and the claim threatened the lender’s ability to foreclose and recover its principal and interest. And, in the event of a claim there is no provision for payment of legal expenses for an uninsured party.
The Title Company begins the process of preparing a preliminary report once they have received an order for title services. Our search experts assemble various public records relating to both the property being purchased and the people involved in the transaction
After examining the information gathered, an examiner prepares the preliminary report, which shows
current ownership of that specific parcel of land any liens and encumbrances the title company will not cover under the subsequent title policy.
The preliminary report gives the conditions for The Title Company to issue a particular type of policy. It lists title defects, liens and encumbrances that would not be covered if the title policy were issued as of the date of the report. The preliminary report provides an opportunity to request that actions be taken to remove the objectionable items listed in the report.
If the objectionable items are not eliminated or released prior to the closing and transfer of title, they will be listed as exceptions on the final policy, meaning they will not be covered. For example, the seller could be required to pay a contractor who placed a lien on the property so that the lien would be removed.
No The preliminary report provides the statement of the conditions needing to be addressed in order for a title policy to be issued. The preliminary report offers no representation of the condition of the property’s title. It does not create a contract of liability, which means it provides no protection to the recipient. An actual title policy must be issued in order to provide protection and prevent parties other than the policy recipient from claiming the benefit of owning the property.
(continued on next page)
What key points should one look for in a preliminary report?
You will want to pay particular attention to:
the extent of ownership rights, including any possible ownership interest on the part of parties other than the seller items listed as being excluded from coverage, including liens, restrictions and interest of others (listed numerically as exceptions) interest of third parties. For example, easements limiting use of the property granted by a prior owner.
A list of standard exceptions and exclusions of items not covered by your title policy may be attached to your report; if so, you should review this as well.
Who can best explain a preliminary report?
Your title agent, your real estate agent or, should you have one, your attorney can help explain the specifics of your preliminary report. Don’t hesitate to ask any one of them to discuss the report with you.
Does the preliminary report contain the complete condition of the property’s title?
It does not. The preliminary report is merely an offer to insure upon the terms and conditions stated therein. It details matters that the title company would exclude from coverage were they to issue a policy at a later date.
1.Homeowner’s insurance
Prior to closing, please provide us with your choice for homeowners insurance and your insurance agent’s name and phone number.
2.Certified funds
Check to see if your state requires certified funds at closing. If so, your closing cost must be in the form of a cashier’s check, certified check or wired funds.
3.Wired funds
If you wish to wire your closing cost from your account directly to Stewart Title’s escrow account, please inform us prior to the closing, so that we may assist you in making the arrangements.
Before sending any money electronically, verify all wiring instructions with your agent by phone. Don’t rely on emails or other forms of communications. Know that Stewart uses CertifID to protect against wire fraud.
5.Identification
Don’t forget to bring your driver’s license or other U.S. issued form of official picture ID to closing.
If you wish to examine your loan documents prior to closing, please request that the mortgage company provide them to the title company at least one day early.
All bills for inspections, repairs or other items to be paid at closing must be provided to us prior to closing.
X If you will not be present at closing to sign documents and intend to use a power of attorney, you must provide the original power of attorney to your closing officer prior to closing for approval and recording of the document. (The lender will also need to approve the power of attorney.) On the day of closing, we will need to contact you and verify that you have not revoked the power of attorney.
X If you are unable to attend the closing and will sign the papers by overnight mail, please provide Stewart Title with the forwarding address, including ZIP code. Also, please provide us with a contact number in case we need to reach you. You will need to sign the papers in front of a notary. Some states can arrange for a mobile notary. We will provide you with a return overnight mail packet. Please send the signed and notarized closing papers back to us the same day you receive them.
1. Purchase Agreement is provided to escrow and reviewed by the escrow team.
2. Buyer’s deposit is received. Preliminary report/ title commitment is requested.
3. Preliminary report/title commitment is received, reviewed and distributed.
4. Escrow instructions and documents are prepared and distributed as per local practice.
5. Information and signatures from principal(s) are requested. This includes payoff of underlying loans and Statements of Information from sellers.
6. Demand(s) are requested and received.
7. Data entries are made for payoffs, commissions, etc.
8. If financing is involved, loan approval is received, and loan documents arrive from the lender.
9. Escrow prepares estimated closing statements for buyer and seller review and approval, together with seller’s CD, if required.
10. Buyer’s signing appointment is scheduled, documents are prepped for signing. Escrow paperwork is added. Appointment with seller is made, if required.
11. Funds are requested and received from buyer and seller, if required. Upon receipt of buyer and seller funds as may be required, loan funds are requested from lender.
12. Upon receipt of all funds required to close, recordable documents are forwarded to county recorder’s office with authorization to record.
13. Disbursements are made and closing packages are released.
So, you’ve decided to buy a home. Congratulations. However, making the decision to purchase is just the first of many steps. To help you better understand the homebuying process, we’ve listed everything that happens between the time you decide to buy a home and when it’s time to move in.
Whether it’s your first home or one of many, this is an exciting time, and you can always count on Stewart Title to be here to assist you with your real
no matter what stage you are in on your home
There’s a lot that happens between the time a buyer finds a house and the day they own it. To help you better understand what happens after the Sold sign is posted, we’ve listed the seven basic steps of transferring a land title.
1
Earnest Money
An escrow contract (an agreement to close) starts the process.
2
Title Search Copies of documents (surveys, deeds, encroachments, restrictions, assessments, liens, wills, divorce settlements, etc.) are gathered from various public records.
3
Examination
Legal owner, debts owed and encumbrances on the land are verified.
4
Nonpublic Record Check Taxes, assessments, liens, bills and other nonpublic information are reviewed.
5
Document Preparation
Forms are prepared for settlement and transfer of title.
6
Settlement or Closing
7
Recording of Legal Documents
Please contact me for more information.
Either an escrow officer or a closer will oversee the closing of the transaction. Seller signs the deed; buyer signs note and new mortgage. Old loan is paid off; new loan is recorded. Seller, real estate agents, attorneys, title company and others are paid. Owner’s and lender’s policies are issued.
Documents are recorded with the county to show transfer of ownership.
In Washington, the Stewart T itle escrow staff is ready to consistently provide you and your customers with the best closing experience possible. For a speedy transaction, we recommend following the six steps below to ensure a successful escrow process.
Step One
Recommend Stewart T itle for your customers’ title insurance and escrow settlement. Ask for their escrow or title reference number to use for all future communications.
Step Two
Read and understand the preliminary report. If there is an item you don’t understand, contact your escrow or title officer.
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Inform your escrow officer if any changes occur. All changes should be noted in writing. Remember, escrow only acts on mutual instructions except with rare exceptions.
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Step Four
It’s important to understand the fiscal tax year, debits, credits, prepaid interest, impounds, due dates and delinquent dates in order to ensure that this information will be easily understood by your client. Familiarize yourself with normal buyer and seller closing costs.
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Check each signature for accuracy. Review purchase agreement to ensure it is complete and includes buyers’, sellers’, and agents’ phone numbers and email addresses. Make sure all of the required documents are signed and notarized when applicable.
Step Six
Double-check all papers and documents before retur ning them to your escrow officer for verification.
715 Bay St
Port Orchard
That One Place
1397 Olney Ave SE
Port Orchard Bay Street Bistro
834 Bay St
Port Orchard
Puerto Vallarta
1599 SE Lund Ave
Port Orchard
Brickhouse 714 Bar and Grill
714 Bay St
Port Orchard
Restaurants
920 Bay St
Port Orchard
Everybody’s American Cookhouse
4215 SE Mile Hill Dr
Port Orchard
Cosmo’s Ristorante
1821 SE Lund Ave
Port Orchard
Golden Grill On the Bay
1014 Bay St
Port Orchard
Holy Water
537 Dekalb St
Port Orchard
1948 SE Lund Ave
Port Orchard
Thai Orchard
2505 SE Mile Hill Dr
Port Orchard
Simon’s
1541 SE Piperberry Way
Port Orchard
La Palapa Mexican Grill
150 Harrison Ave
Port Orchard
Family Pancake & Dinner House
1034 Bethel Ave
Port Orchard
1640 Jackson Ave SE
Port Orchard
Ruby Slipper Bar and Grill
3995 Bethel Rd SE
Port Orchard
Blue Agave Mexican Grill
4800 Jackson Ave SE
Port Orchard
Whiskey Gulch Coffee Pub
2065 Bay St
Port Orchard
King’s Fish & Chips
1044 Bethel Ave
Port Orchard
Bill Bloomquist Rotary Park
3044 Madrona Drive SE, Port Orchard
Son Willie Bloomquist became a great local ballplayer and part of the South Kitsap local color When he made it to the major leagues he captured the hearts of Mariners fans, and now plays for the Arizona Diamondbacks.
Port Orchard Rotary, working with the County’s Parks Department, has generously donated funds for the renovation of the two ballfields, repair and replacement of fencing and gates. The Rotary also funded improvements to the parking lot. Long range plans may include a batting cage, team benches, bleachers, storage facility, and expanded parking.
On June 30, 2012, Kitsap County and Port Orchard Rotary honored Bill Bloomquist with the dedication of the Bill Bloomquist Rotary Park. The recently renovated fields, funded by the Port Orchard Rotary, will serve as the home of South Kitsap Girls Softball Association. Bill Bloomquist, a long time Port Orchard Rotary member, recognized for his commitment to the community. Local Rotarians searched diligently to find a fitting project that recognizes his leadership and involvement – and his love for baseball.
Field #1: Grass field for Youth Baseball, Softball, Soccer
Field #2: Grass field for Youth Baseball, Softball, Soccer
https://spf.kitsapgov.com/parks/Pages/BillBloomquistRotaryPark.aspx
Horseshoe Lake Park
15931 Sidney Road SW, Port Orchard
Size: 39 Acres
Region: South District
Features: Lake access, swimming area, walking trails, picnic areas, BBQ, playgrounds, ball field, restrooms and life jacket kiosk. The ball field and picnic tables are first come, first served and do not require reservations.
Note: Horseshoe Lake Park is closed beginning the second week of October through the April 1st. Access gates to the parking lots and park areas are closed and locked during these times.
Fishing and Boating: This lake has a public access through the WDFW boat launch and along the shoreline at the county park.
https://spf.kitsapgov.com/parks/Pages/HorseshoeLakePark.aspx
Howe Farm Park
1901 Long Lake Road SE, Port Orchard
Size: 83 Acres
Region: South District
Features: Historic farm, walking trails, off-leash dog area, restrooms and parking lot
https://spf.kitsapgov.com/parks/Pages/HoweFarmPark.aspx
5100 Long Lake Road SE, Port Orchard
Size: 27 Acres
Region: South District
Features: Lake access, swimming area, fishing pier, picnic areas, volleyball court, ball field, restrooms, fishing pier, community building, parking lots and life jacket kiosks.
Restrooms: Park restrooms are closed annually for the winter season from October 1st through March 31st. Please plan accordingly when planning to visit a Kitsap County Park during the winter season.
Parking: From October 1st through March 31st the parking by the fishing pier will be closed. The general parking lot will remain open.
Fishing and Boating:
Fishing is allowed on the lake only between April 1st and September 30th
Fishing is allowed on the lake by canoe, kayak or small boats with no motors, at the NON-TRAILERABLE Boat Launch. The WDFW access along the western shore has a boat ramp and boat dock. The northern shore of the lake has a fishing pier and plenty of shoreline access.
Fishing is allowed at the fishing pier, located along the northern shore
Fishing from the swimming area is prohibited.
Swimming from the fishing prier is prohibited.
For more information regarding boating and fishing to visit Washington RDepartment of Fish and Wildlife (WDFW).
https://spf.kitsapgov.com/parks/Pages/LongLakePark.aspx
Jackson Ave SE & SE Lund Ave, Port Orchard
Size: 209 Acres
Region: South District
Features: 3 ballfields (baseball, softball and multi-use), biking trails, playground, horseshoe pits, picnic area, hiking trails, walking trails, skate park, interactive Forest Explorer Trail (adjacent to the playground), large parking lot and restrooms. The Forest Explorer Trail is a 1/3-mile, semi-loop that features a series of stations challenging the trail user to see more, do more, and learn more. Children of all ages will learn about the forest environment, perform simple activities for exercise and movement, and develop observation skills to explore the local "NeighborWoods." Find your way through with the Forest Explorer Map.
Scale Outdoor Railroad: run by Kitsap Live Steamers, Entrance at 3101 SE Marbeth Lane, Port Orchard
Batting Cages: run by Casey's Batting Range, Entrance at 2841 SE Lund Ave, Port Orchard
Park Rules & FAQs
Restrooms: The restroom located by the skate park will be open year round. The restroom located by the playground will be closed annually for the winter season from October 1st through March 31st Please plan accordingly when planning to visit a Kitsap County Park during the winter season.
https://spf.kitsapgov.com/parks/Pages/SouthKitsapRegionalPark.aspx
985 Retsil Road SE, Port Orchard
Size: 48 Acres
Region: South District
Features: 6 ball fields (soccer, baseball, little league), picnic area, restrooms and a parking lot
Restrooms: Park restrooms will only be open if reservations are made on the athletic fields. However, from October 1st through March 31st the restrooms will remain closed for winterizing. Please plan accordingly when planning to visit this park.
https://spf.kitsapgov.com/parks/Pages/VeteransMemorialPark.aspx
PUGET SOUND AREA:
The Puget Sound Region is full of dynamic and cosmopolitan cities framed by inspirational lakes, pristine ocean bays and rugged mountains. It is a virtual smorgasbord of possibility, from recreational opportunities in unrivaled natural settings to urban delights in the arts and culture offered in world-class museums, theatres and other venues. An area rich in history, from the Northwest Native American cultures and Alaska Yukon gold rush days, to Seattle’s iconic Space Needle and corporate giants in aviation and the dot-com. Whether you’re looking for fun, excitement, education or romance, this region offers an unrivaled choice of diverse activities.
Experience Washington is the official travel and tourism website for the state. Visit their site to discover and plan things to do in all regions of Washington. You can also contact them at 1-800-544-1800. www.experiencewa.com
For a listing of suggested attractions, coupons and other visitor’s resources check out: The Puget Sound Attractions Council website at: www.seattleattractions.com
The GoNorthwest Online Travel Guide offers a listing by Puget Sound City of attractions, accommodations, visitors information, activities and more. It can be found at: www.gonorthwest.com
VisittheWashingtonStateWinewebsiteat:washingtonwine.org
AbouttheWashingtonStateBeerCommission&Industry
TheWashingtonBeerCommissionwasratifiedbytheWashingtonState LegislatureonSeptember6,2006asanAgriculturalCommodityCommission, becomingthefirstcommoditycommissionforcraftbeerintheU.S.Through RCW15.89thestategrantedthecommissiontheopportunitytoproduceup to12beertastingfestivalsperyearandtousetheproceedstopromoteand marketWashington’scraftbreweries.Anassessmentoftencentsperbarrel producedbyeachbrewery(withacapassessmentof$1,000)wasalsoa partofthelegislation.Washingtonstatenowboasts240+breweriesandI sstilltheonlystateinthenationwithabeercommission.
VisittheWABeerCommissionwebsiteat:washingtonbeer.com
DownloadtheWashingtonBeerMobileApp:
You will make more money. U.S. Housing and Urban Development reports that a staged house sells, on average, 17% higher than a non-staged house
The cost of staging doesn’t cost a dime. A Home Gain Survey of over 2000
Realtors discovered that sellers who spent up to $1,000 staging their home recovered almost 200% of the cost in the sale of their home
Most home sellers cannot view their house objectively. If you can’t see objectively, you can’t “package” effectively. Have a staging professional give you a detailed, step by step, “Action Plan” so you can do the work yourself. Less guesswork and “Do It Yourself”. A professional home stager can manage your projects from start to finish OR give you a detailed enough report based on their extensive knowledge and training to have you “do it yourself”.
Only 10% of homebuyers can visualize the potential of a home. That’s why staging a vacant home is critical! You don’t want the benefits of your beautiful home left up to the buyer’s imagination.
Studies show that the longer your home stays on the market the lower your selling price will be Don’t settle for less and lower your price have your house staged
Staging is designed to differentiate a house. Create emotion, which translates into more offers and more money. Staging is about the creativity, not the money. Staging helps with the vision. Buying a house is largely an emotional decision because people are not just purchasing a home; they are buying a dream...a lifestyle. When it comes to staging a home, the beauty lies not only in the art but in the numbers. Staging can transform a home from ugly duckling to swan.
Keep in mind what you’re selling is the home, not its contents. If you remove throw or area rugs, eliminate clutter and collections, and cut down on furniture and accessories, the room will appear to be more airy and spacious. It's all about flow.
By de-cluttering a home, you allow customers to see each space’s best features and full potential. Give customers the space to envision their own dreams within the home. Here are a few tips for staging a home properly with tips on staging mistakes to avoid:
• Give the property’s interior a fresh coat of paint to show prospective buyers the home is well kept and alive
• Whether you want to or not, be sure to disclose everything about the property
• Fix all running toilets – the sound of echoing pipes is a sound that could spook off customers
• Show the cozy places in the home, including the outside; if there’s a patio or a porch, show potential customers that the property’s outside is as attractive as the inside
• To get a feel for what spaciousness, simplicity, neutral colors and décor can do for your home sales, visit model homes to see how they do it
• To freshen up the kitchen area, cut one lemon in half and grind it in the garbage disposal
• Display foliage in moderation; be mindful to invest in quality plants that are either silken or easy to maintain
• Ask yourself if all of the decorative items in the home are really needed, or if they can be put away (for example, do you really need three statuettes of turtles on the kitchen counter? Perhaps just clear the counter off completely)
• Listen to the pros and hire an agent to assist you with your real estate needs
• Leave no section of your home un-staged – be prepared for potential buyers with a critical eye for details, including cleanliness
• If you’re going to add fragrance to the home, use a tad of neutral, fresh-smelling scents such as vanilla or lemon; refrain from using over-powering scents – it could smell like you’re trying to cover an odor
• Do not leave any family photographs, mail, documents or other personal information out on countertops –also, if you keep pictures or personal items tacked on your refrigerator, remove those as well.
• Keep personal items in a hidden, well-protected place; create a non-cluttered, neutral environment in which a potential buyer can picture themselves living there (not the family currently living there)
• Be sure the closet spaces are cleared out – you want your potential buyers to see how much storage space they may find handy
• If a DIY project has been left unfinished, either clean it up or clear it out
• Don’t forget that the yard should be just as neat as the inside of your home
• Not everyone is pet-friendly; when showing a home, please remove your furry friends during a showing
• Be sure the food pantry, laundry room and garage are well-organized and clean; only leave items in those storage spaces that pertain directly to the space itself; all other knickknacks or untidy items should be re-moved
Sources:
1 http://www.hgtv.com/real-estate/top-10-home-staging-dos/index.html
http://www.squidoo.com/homestagingmistakes#module13426482
2 http://www.squidoo.com/homestagingmistakes
http://www.hgtv.com/real-estate/top-10-home-staging-donts/ index.html
Every well-run household has its own unique solutions and quick fixes to keep it humming smoothly
Here are a few favorite and clever pearls of domestic wisdom to add to your collection
• Have you tried baby wipes on carpet stains? They work so well, you’ll be wondering why no one told you sooner!
• Keep candles in the refrigerator for several hours before you use to slow down dripping and make them last longer
• To eliminate cooking odors heat white vinegar in an uncovered pot on the stove. (don’t boil) Remove after 30 minutes. The light vinegar smell dissipates quickly, taking odors with it.
• The best way to attack cooked-on spatters in your microwave: Heat a half-cup of water for two minutes on high The steam will soften the food and the mess will wipe right out
• When run through your coffee grinder, a handful of dried rice will sharpen the blades
• After your next party, share flat, leftover beer with your garden The plants love the yeast
• Ants hate anything spicy Sprinkle ground pepper, cayenne, even cinnamon, in their path, and you’ll stop them in their tracks
• Your chimney will stay clean if you throw a handful of salt on the fire
• Fill nail holes with a paste made of cornstarch and water Works just as well as putty!
• When a wooden door or gate sticks, bring out the hair dryer By blowing hot air directly on the wood where it’s sticking, you’ll remove the moisture and the swelling will go down
• Squeaky doors? For a drip less solution, use petroleum jelly on the hinges instead of oil
• Simmer a sliced apple and a couple of cinnamon sticks in water on the stove. Your whole house will smell like apple pie.
• Place unusable remnants of soap in a ventilated plastic bag and pack it away with seasonal clothes This will keep the moths away, and your clothes will smell much better when you take them out of storage
• Leather needs to breathe, so never hang coats or jackets in plastic Instead, make a dust cover from a pil-lowcase by cutting a hole in the top for a hanger
❑ Pack all family records in a separate box and keep it with you (not in the moving van) when you move Include your family’s medical, dental, school, and financial records Although the moving company is insured, if it loses your irreplaceable records and other valuable, there is nothing they can do to get them back.
❑ Forward your mail. Make “We’re Moving” postcards to send to friends and relatives. Send change-ofaddress forms to magazines, service organizations, DMV/DOL and others Go to the post office and complete a mail forwarding form Also, consider sending electronic change-of-address cards to your friends. Check the Internet for sites that offer these cards for free.
❑ Say goodbye to your neighbors and give them your new address and phone number Hand out “We’re Moving” postcards as you say goodbye.
❑ Call the telephone and utility companies to close or transfer your accounts and let them know your new address Your final bills will arrive there
❑ Be sure that the new tenants (or property manager) have the code for the alarm system.
❑ Turn off and unplug all appliances. Check the refrigerator, air conditioner, clothes washer, dryer, and other appliances As a courtesy to the new tenants, leave the plugs and their wall sockets in plain view and accessible
❑ Turn off the automatic sprinkling system (or set it to automatic, if appropriate)
❑ Set the thermostat to 55 degrees If it’s winter, this will help ensure that the pipes won’t freeze before the new tenants arrive
❑ Close blinds and draperies and turn off all lights except one or two so that the house doesn’t seem unoccupied.
❑ Secure and lock all doors and gates Remove any locks to which you own a key or combination (or leave the key or combination for the new occupants).
Utilities & Services
Electric
Gas
Water
Garbage
Sewer
Recycle
Telephone/Mobile
Cable/Satellite
Internet
Fuel
Water Delivery/Water Treatment
Pool Services
Lawn/Garden Services
Housecleaning Services
Physicians/Dentists/Veterinarian
Attorney
Real Estate Broker
Lender
Pharmacy/Drug Store
Dry Cleaners
Subscriptions
Newspapers
Magazines
Book and Music Clubs
Family Schools
Children’s Organizations
Clubs (Athletic, misc )
Relatives, Friends, Business Associates
Don’t forget to submit your change of address with the U.S. Post Office online, mail-in form, or at a local branch and set your mail to forward.
Financial & Personal Accounts
Employer/Benefits/401K
Banks
Loan Institutions
Financial Advisor/Investments
Major Credit Card Companies
Department Store Credit Cards
Insurance Agencies (Health, Home/Life & Auto)
Charge Accounts
Pension Plans
Air Miles Rewards Program
Accountant/Tax Consultant
Charities
Professional Memberships/Licensing Boards
Government & Public Offices
Post Office
Veteran Affairs
Income Tax/IRS
Family Support
Social Security
Pension Benefits
Unemployment Insurance
Vehicle Registration
Driving License
Voter’s Registration
Owning a home can be a dream come true. But without regular maintenance, your home can become a nightmare. Here is a handy fall-winter maintenance checklist to use to you can ensure your home remains your haven all winter long.
Show your home’s interior and exterior some much-needed TLC and take spring-cleaning to the next level. Don’t know where to start? this list to help you tackle spring maintenance like a pro.
The decision to purchase a new home brings a sense of stability. Whether you need a place to make your own, more space for a growing family or an investment opportunity, the home-buying process is an exciting time.
Buying a home often reflects a desire for financial security and can be a sound decision for number of reasons:
When you buy your house and pay your monthly mortgage, you can gradually accumulate what lenders call equity. Equity is an ownership interest in the property. It can be converted into cash by borrowing against it or by selling your house. Unlike owning a home, renting offers no opportunity to build equity.
Another advantage to homeownership is that mortgage payments can remain unchanged throughout the life of your mortgage. Renters may face an increase in rent payments year after year. With a fixed-rate mortgage, your monthly payments remain the same over the years as other costs of living increase over time due to inflation. As a homeowner with a fixed-rate mortgage, you have the advantage of knowing what your mortgage payment will be far into the future.
Houses typically increase in value, or appreciate, over time. It’s not unusual to find a house that sold for $150,000 15 years ago valued at a much higher price today. Appreciation is like money in the bank to you as the homeowner.
As a homeowner, you will enjoy significant tax breaks that are not available to renters. The most important tax benefit of homeownership is that interest paid on your home mortgage is usually deductible. This fact alone can save you a substantial amount each year in federal income taxes.
Stewart Title offers our residential customers various levels of coverage for your protection. The coverage provided by the ALTA Owner’s Policy (a standard coverage policy) covers you for defects and liens typically in the Public Records’ history of your title through the date and time your deed is recorded in the Public Records. The ALTA Homeowner’s Policy provides enhanced coverage and protects you from matters appearing in the Public Records and items not appearing in the Public Records, including some that might occur after the policy is issued.
Coverages Included Without Endorsement
Assumes compliance with Stewart Title Guaranty Company’s underwriting requirements for issuance of the applicable policy.
and repudiation of an invalid electronic signature
of the title
right of access to and from the land
covenants limiting your use of the land
Coverage (extending coverage from the closing to the recording of the deed)
continues as long as you own the property
insures anyone who inherits the property from you
insures the trustee of your estate-planning trust who receives a deed from you
Policy insures an affiliate who receives a deed from you
insures residential property only
Policy can only be issued to a natural person or estate planning entity
Extended Coverage
Parties in possession of the property that are not disclosed by the Public Records (e.g., tenants, adverse possessors)
easements affecting the property
Encroachments and boundary line disputes that would be disclosed by a survey
Mechanic’s liens (a lien against the property due to non-payment of work)
Taxes or special assessments that are not shown as liens by the Public Records
*Not included in the coverage
Coverages Included Without Endorsement
Assumes compliance with Stewart Title Guaranty Company’s underwriting requirements for issuance of the applicable policy.
Additional Coverages
Actual vehicular and pedestrian access based upon a legal right
Loss of your title resulting from a prior violation of covenant, condition or restriction
A limited amount of coverage is available if you are unable to obtain a building permit due to an existing violation of a subdivision law or regulation or you must correct an existing violation (subject to a deductible)
A limited amount of coverage is available if you must remedy or remove an existing structure because it was built without a proper building permit (subject to a deductible)
A limited amount of coverage is available if you must remedy or remove an existing structure due to an existing violation of a zoning law or zoning regulation (subject to a deductible)
A limited amount of coverage is available if you must remove your existing structures if they encroach into an easement or over a setback line
You cannot use the land as a single-family residence because such use violates an existing zoning law or zoning regulation
You are forced to remove your existing structures because they encroach into an easement or over a setback line
Damage to existing structures due to an exercise of an existing right to use any easement affecting the land
Damage to existing improvements due to an exercise of an existing right to use the surface of the land for the extraction or development of minerals, water or any other substance
Someone else tries to enforce a discriminatory covenant
taxes because of prior construction or change of ownership or use
Loss if the residence is not located at the address stated in the policy
Pays substitute rent and relocation expenses, if you cannot use your home because of a claim covered by the policy
policy amount up to 150% of policy amount over 5 years
*Not included in the coverage
Coverages stated above are merely examples. Please refer to the policy for actual coverages related to your transaction. Both policies identified above may contain certain exceptions, exclusions and conditions as set out by Stewart Title Guaranty Company and the American Land Title Association®. If you have any questions regarding your rights under the various policies seek legal, tax or other professional advice.
The information provided is for informational purposes and is subject to change without notice. Please contact me for more information.
As a homeowner, your property is one of your most valuable assets. That’s why you protect it with homeowner’s insurance. But does your homeowners insurance protect your home against all water damage? By understanding how insurance views water, you can protect yourself financially. Otherwise, you may find yourself drowning in debt.
Where water is concerned, there are two types of water-related insurance claims:
Flooding and water damage. This first type of water-related claim is flooding, also known as rising water. It’s a very common natural disaster and is only covered through a flood insurance policy.
The second type of water-related claim is water damage. With water damage, your home insurance policy potentially covers four different types. Those are:
X Sudden and Accidental – The kind of damage that occurs when a pipe suddenly bursts.
X Seepage and Leakage – The damage resulting from a slow, continuous water leak over time.
X Water Backup – Water that comes in the home through entry points such as sinks, toilets or bathtubs.
X Foundation water damage – Should one of the three previously mentioned types of water damage occur, resulting in the need to break into your foundation, you’ll want to have foundation water damage coverage.
Keep in mind that not all home insurance policies cover all four types of water damage. Verify your coverage with your insurance agent.
Let Stewart Insurance help you build an insurance plan you’re confident in. Call Stewart Insurance at 866-798-2827 today.
A home that is clean and tidy, and maximizes space will sell faster and at a higher price. Keep in mind that a small investment in time and money could make your home much more attractive to buyers.
Exterior OK As Is Needs Work
Does the house need fresh paint?
Are holes and cracks visible?
Are sidewalks, porches and decks swept and in good shape?
Is it inviting?
Do the windows and door screens need to be replaced?
Does the house trim need repair or paint?
Are gutters and downspouts secure and clean?
Landscape OK As Is Needs Work
Are shrubs and trees trimmed?
Is the lawn fertilized?
Are flowers planted?
Is the lawn mowed and edged?
Has the lawn been weeded?
Kitchen OK As Is Needs Work
Are the appliances clean and working?
Are cabinets neat and in good condition?
Are countertops clean and uncluttered?
Does the tile need regrouting?
Does the sink need recaulking, chips repaired or stains removed?
Do the faucets leak?
Is the oven clean?
Is the gas igniter working properly? (Be sure to leave the key.)
Bathroom OK As Is Needs Work
Do the faucets leak?
Does the tub need recaulking?
Do the shower tiles need new grout?
Are the shower doors clean?
Is the floor in good condition?
Roof OK As Is Needs Work
Are there any leaks or unlevel areas?
Are shingles or tiles missing?
Does the roof have any unlevel areas?
Are the floors swept and stain-free?
Are all items stacked against walls to maximize floor space?
Is the garage door opener operating correctly?
Is the garage organized, neat and well lit?
Attic
Is the attic organized and clean?
Are the stairs in good condition?
Is the attic well lit?
Are there any signs of insects or rodents?
Can items be removed in order to make the home appear larger?
Do the walls and woodwork need new paint?
Do the walls have holes or cracks?
Does the wallpaper need replacing?
Are both sides of the windows clean?
Are the floors clean and polished?
Are there any stains or damage from water leaks?
Is the carpet clean, flat and stain-free?
Are the window treatments clean and properly working?
Do squeaky hinges need oil?
Are the ceiling fans and vents clean?
Do the windows open and close easily?
Has the house been deep cleaned?
Do any of the doors stick?
Do all the locks work properly and have keys?
Do the doors seal properly?
Are all lights working?
Moving can be stressful, but you can make it easier by starting your preparations early. The first step is to hire a mover. Here are few tips for choosing the right one:
x Get referrals from friends, online review sites and organizations like the Better Business Bureau®
x Find a balance between the lowest cost, the most experience and the right equipment.
x Inquire about discounts related to organizations you may belong to.
x Confirm mover credentials. Movers should be licensed and bonded, and employees should have workers’ compensation insurance.
x Ask for references.
x Get estimates in writing.
Sensitive information plays a critical role in your real estate transaction, and it’s imperative that this information remains safe and protected. Stewart Title strives to provide consumers with peace of mind in knowing that their personal, non-public sensitive information is protected through Stewart Title’s data security and email encryption. But, as a consumer, there are steps you can take to protect yourself from cyber-fraud, too.
Recently, there has been a wave of cyber-fraud. Cybercriminals hack into the email accounts of real estate agents or other persons involved in real estate transactions. These “hackers” are patient; they sit and wait until they discover useful information to assist in the scam and trick you into sending money through a wire transfer to a bank account that appears to be legitimately owned by a party involved in the transaction (but is not). The hackers send an email that appears to be from an individual involved in the transaction (a practice called spoofing).
At first glance, these spoofing email addresses appear legitimate but often have one additional letter or some other minor variation from the actual email address.
Example: msmith@stewartttitle.com instead of msmith@stewarttitle.com
These spoofing emails advise the recipient (often the buyer) that there has been a last-minute change to the wiring instructions and request that funds be sent to the new account information provided. By following these instructions, the funds are inadvertently wired to the hacker’s account and, most often, lost forever.
Recognize common indicators of cyber-fraud:
X Emails requesting last-minute changes to wiring information (e.g., particularly changes in the beneficiary and/or receiving bank)
X Requests for wire transfers late in the day or week or outside of business hours
X Emails with poor grammar and/or typographical errors
X Slight, typically unnoticeable-at-first-glance changes in the email address
Suggested best practices for transmitting and receiving sensitive information:
X Send emails with sensitive, personal information, through encrypted email only.
X Verify requests to change wiring instructions through a trusted method (like a phone number previously verified); never use the phone number in the email.
X Verify wire transfer requests to locations outside normal business areas.
X Never click on any links in an unverified or unexpected email.
X Always question attachments and links that are sent unencrypted.
What to do if you believe you are a victim of cyber-fraud:
X If money was wired in response to fraudulent wiring instructions, immediately call all banks and financial institutions that could put a stop to the wire or your funds.
X Contact your local police or local municipalities’ real estate fraud division.
X Contact any other parties who may have been exposed to the cyber-fraud so that appropriate action may be taken.
X Change all usernames and passwords associated with any account that you believe may have been compromised.
X Report any cybercrime activity to the Federal Bureau of Investigation Internet Crime Complaint Center www.ic3.gov/complaint/default.aspx.
So, you’re buying a house. It’s an exciting time. It can also be a bit confusing. Things feel like they’re happening pretty fast and, often, some important things can go unexplained – like title insurance. To help you understand the purpose and importance of title insurance, Stewart Title has put together this helpful overview.
What is title?
Simply stated, the title to a piece of property is the evidence that the owner is in lawful possession of that property.
What is title insurance?
Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or the defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions.
How does title insurance differ from other insurance?
Insurance such as car, life, health, etc., protects against potential future events and is paid for with monthly or annual premiums. A title policy insures against events that occurred in the past of the real property and the people who owned it, for a one-time premium paid at the close of the escrow.
What does it cover?
Title insurance protects against claims from defects. Defects are things such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the actual policy.
Who needs it?
Home buyers and lenders need title insurance in order to be insured against various possible title defects. The buyer, seller and lender all benefit from the issuance of title insurance.
How is a title policy created?
The creation of a title policy begins by searching the public records for defects, such as liens or legal judgments, which could interfere with the transfer of the property’s title. Once the title is deemed free and clear of defects, the prospective new owner receives a preliminary report for review and approval. If the prospective buyer approves the “prelim,” the escrow officer will record the document after closing and settlement, and the title policy will be created.
What is escrow?
Escrow refers to the process in which the funds of a transaction (such as the sale of a house) are held by a third party, often the title company or an attorney in the case of real estate, pending the fulfillment of the transaction.
What are the policy types?
A standard policy insures the new owner/home buyer, and a lender’s policy insures the priority of the lender’s security interest.
Stewart Home Warranty, powered by HWA** , is a nationwide leader in the home warranty industry with over two decades of experience helping homeowners stay safe and feel comfortable when buying, selling or just living in their homes.
You’re covered for life’s big emergencies — fire, theft, severe weather damage — by your homeowners insurance policy. But can you relax when it comes to everyday disasters? Your appliances and plumbing, electrical and heating/ cooling systems have limited lifespans due to normal wear and tear. A Stewart Home Warranty plan helps reduce your out-of-pocket repair and replacement costs for essential home systems — and gives you peace of mind.
When you choose Stewart Home Warranty, you’re choosing:
X 13 months of initial coverage
X A fully customizable plan that meets your unique needs
X Easy-access customer service via phone, email, chat or web
X Coverage of more than 120 items
X Protection against unknown pre-existing conditions
X FREE Seller’s Coverage on active listings for up to 180 days ($1,500 limit)
X No age restrictions on your home
X Multiyear plans
X Newly enhanced claims process
X Coverage for townhomes, condos and investment properties and new construction plans
X Dependable service from a national network of independent qualified service technicians*
x Select your mover and get everything in writing.
x Decide how much of your current furniture you will be using. You can save on moving costs by getting rid of unwanted furniture prior to your move.
x Determine which unwanted pieces will be given to charity and which will be sold. This can save you money on your move – and put money in your pocket.
x If you are moving yourself, determine how many boxes you will need, then determine the size of the truck required by calculating the cubic feet of the boxes, plus that of large furniture pieces.
x If you’re moving to a new community or city, get copies of records from service providers such as doctors, dentists, lawyers and utility companies.
x Make arrangements to transfer your children’s school records.
3 4
x Clean or repair furniture, curtains or carpets, if needed.
x Hold a garage sale.
x Arrange for storage, if needed.
x Make any necessary travel and hotel reservations.
x Determine if you need to transfer local bank accounts or cancel direct deposits. Coordinate with your bank(s).
x If movers are not doing your packing, begin gathering packing materials:
° Boxes
° Bubble wrap
° Old newspapers
° Felt-tip markers
° Furniture pads
° Large self-stick labels
° Nylon packing string
° Packing peanuts
° Packing tape
° Rope
° Scissors
° Utility knife
x Begin packing items you won’t need between now and your move.
x Arrange to cancel utilities and services at your old home after you’ve moved, and make sure you have electricity and water turned on at your new home by the time you move in.
x Make any special arrangements to move pets.
x Have your car checked and serviced for the trip if you’re moving far away.
x Fill out a change-of-address form with the U.S. Postal Service.
x Send a change-of-address notice to your friends and family.
x Review your online accounts and update your address in your profile.
x Transfer any prescriptions to a pharmacy near your new home and return any library books.
x Arrange for a babysitter on moving day if you have small children.
x Defrost your refrigerator and freezer.
x Set aside valuables and legal documents to take with you.
x Pack clothing, toiletries and other first-day essentials to go with you.
x Have your movers begin packing.
x Arrange payment for the driver on moving day if you’re using a mover.
x Pick up the truck early if you’re moving yourself.
x Make a list of every item and box loaded into the truck.
x Give your contact information to the mover.
x Read the terms and conditions in your mover’s agreement before signing. Keep the agreement in a safe place until your goods are delivered, charges are paid and any claims are settled.
x Check that no leave-behind appliances are still connected in your old house.
x Inspect the attic and garage, and lock all doors and windows.
x Check off all boxes and items as they come off the moving truck (if applicable).
x Make sure utilities are connected and new locks are installed.
x Be on hand to answer questions, pay the driver, take care of last-minute problems and examine your goods.
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