13360 Bandanero Dr - HC by mwidman-wfgnationaltitle

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

13360 BANDANERO DR PEYTON CO 80831

42321-03-002

EL PASO COUNTY CO

Owner Information

Owner Name: DRAKE MICHAEL J / DRAKE SUSAN P

Vesting: JOINT TENANT

Mail Address: 13360 BANDANERO DR PEYTON CO 80831

Owner Status: OwnerOccupied

Location Information

Legal Desc: LOT 4 4 WAY RANCH FIL NO 1

County: EL PASO

Census/Block: 003902 / 2051

Tsp-Rng-Sec: T12-R64-S32

Lot / Block: Lot: 4 Block:

Housing Tract: FOUR WAY RANCH FIL NO 1

Last Market Sale

Date: 2016-08-19/2015-08-18

Sale Price: 662930

Document #: 2016.93731

Doc Type: GENERAL WARRANTY DEED

$ Sqft: $122.52

Prior Sale Information

Date: 2012-08-31/2012-08-29

Alt Parcel #

School District: FALCON 49

Municipality:

Parcel #: 42321-03-002

Lender: CASTLE & COOKE MORTGAGE, LLC

Loan: 564746

Document #: 2016.93732

Loan Type: VETERANS AFFAIRS

Loan Term: 30

Lender: Price: 385000

Document #: 2012 101747

Doc Type: SPECIAL WARRANTY DEED

Loan: 288750

Document #:

Loan Type: CONVENTIONAL

13360 BANDANERO DR PEYTON CO 80831

42321-03-002 EL PASO COUNTY CO

Property Characteristics

Gross Area: 7424

Living Area: 5411

Above Grade: 7,424

Bedrooms: 5

Bath (F/H): 4/2

Fireplace: GAS/LOG

Year Built: 2015

Garage Area: Interior Wall

Roof Shape: GABLE

Porch Type: COVERED SLAB

Foundation: CONCRETE Patio Type: COVERED WOOD DECK

Roof Material: COMPOSITION SHINGLE Air Cond: CENTRAL

Construction: FRAME/STUCCO Fixtures:

Cooling Type: CENTRAL Equipment:

Parking Type: Garage Exterior Wall: STUCCO Stories: 1

Units: 1 Rooms: 12 Pool: No

Basement: 2862

Property Information

AVERAGE

and Assessment Information

13360

13360 BANDANERO DR PEYTON CO 80831

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

AERIAL MAP

CITY BOUNDARY MAP

SCHOOLS

13360 BANDANERO DR PEYTON CO 80831

42321-03-002 EL PASO COUNTY CO

Falcon, School District No. 49, In The County Of El Paso And

Elementary Schools

Meridian Ranch Elementary School

10480 Rainbow Bridge Drive FALCON CO 80831

Grades: PK to 05

Charter School: N

Woodmen Hills Elementary School

8308 Del Rio Road FALCON CO 80831

Grades: PK to 05

Charter School: N

Middle Schools

Falcon Middle School

Magnet School: N

9755 Towner Avenue PEYTON CO 80831

Grades: 06 to 08

Charter School: N

Skyview Middle School

Magnet School: N

6350 Windom Peak Boulevard COLORADO SPRINGS CO 80923

Grades: 06 to 08

Charter School: N

High Schools

Falcon High School

Magnet School: N

10255 Lambert Road PEYTON CO 80831

Grades: 09 to 12

Charter School: N

Falcon Homeschool Program

11990 Swingline Rd PEYTON CO 80831

Grades: KG to 12

Charter School: N

Magnet School: N

719-494-2909

Area Desc:

Distance: 1.20 Miles

Title One: NO

719-495-5500

Area Desc:

Distance: 1.53 Miles

Title One: NO

719-495-5232

Area Desc:

Distance: 2.21 Miles

Title One: NO

719-495-5566

Area Desc:

Distance: 7.75 Miles

Title One: NO

719-495-5522

Area Desc:

Distance: 0.95 Miles

Title One: NO

719-495-1149

Area Desc:

Distance: 2.68 Miles

Title One: NO

Superintendent: PeterHilts

OfficialPerformanceRating

Howareperformanceframeworkratingsdetermined?

Whatistheperformance framework?

ⓘ PerformanceIndicatorRatings

Howdidstudentsperformondifferentpartsofthe performanceframework?

Approaching

Whatdoesthisratingmeanandhowdoesit comparetootherdistricts?

Howdothedifferentperformanceindicators factorintotheofficialperformancerating?

Whereisthedistrictfocusingits attention?

Whatissuesunderliethese challenges?

Whatstrategieshavebeenputin placetoaddressrootcauses?

S-CAPparticipantsuseadditionalperformancemeasuresforlocalaccountabilityandhaveflexibilitytosubmittheirimprovement plansinanalternativeformat.UsethelinkinthepurplebarbelowtoviewS-CAPplaninformationforthisdistrict.

Principal: DarrylBonds

District49(1110):FalconHighSchool(2908) 10255LAMBERTROADPEYTON,CO80831

StudentswithDisabilities 2023PerformanceFrameworkResults

OfficialPerformanceRating

Howareperformanceframeworkratingsdetermined?

Whatistheperformance framework?

PerformanceIndicatorRatings

Howdidstudentsperformondifferentpartsofthe performanceframework?

Achievement: Approachingⓘ

Postsecondary& WorkforceReadiness: Meetsⓘ

Whatdoesthisratingmeanandhowdoesit comparetootherschools?

Growth: Approachingⓘ

DoesNotMeet Expectations Exceeds Expectations Meets Expectations Approaching Expectations

Howdothedifferentperformanceindicators factorintotheofficialperformancerating?

Whereistheschoolfocusingits attention?

Whatissuesunderliethese challenges?

Whatstrategieshavebeenputin placetoaddressrootcauses?

Principal: BrianSmith

StudentswithDisabilities 2023PerformanceFrameworkResults

OfficialPerformanceRating

Howareperformanceframeworkratingsdetermined?

Whatdoesthisratingmeanandhowdoesit comparetootherschools?

Whatistheperformance framework?

Howdidstudentsperformondifferentpartsofthe performanceframework?

Achievement: Approachingⓘ

Growth: Approachingⓘ

DoesNotMeet Expectations Exceeds Expectations Meets Expectations Approaching Expectations

Howdothedifferentperformanceindicators factorintotheofficialperformancerating?

Whereistheschoolfocusingits attention?

Whatissuesunderliethese challenges?

Whatstrategieshavebeenputin placetoaddressrootcauses?

Principal: Sheehan

Freeman-Todd SchoolWebsite

StudentswithDisabilities 2023PerformanceFrameworkResults

OfficialPerformanceRating

Howareperformanceframeworkratingsdetermined?

Whatistheperformance framework?

PerformanceIndicatorRatings

Howdidstudentsperformondifferentpartsofthe performanceframework?

Meets

Whatdoesthisratingmeanandhowdoesit comparetootherschools?

Howdothedifferentperformanceindicators factorintotheofficialperformancerating?

Whereistheschoolfocusingits attention?

Whatissuesunderliethese challenges?

Whatstrategieshavebeenputin placetoaddressrootcauses?

COMMUNITY

EL PASO COUNTY

730,395

POPULATION

2020 Census Data

$81,851

MEDIAN INCOME

2023 Estimated Census Data

35.62

MEDIAN AGE

2023 Estimated Census Data

El Paso county is the most populous county in the state of Colorado. In July 1858, gold was discovered along the South Platte River in Arapahoe County, Kansas Territory. This discovery precipitated the Pike's Peak Gold Rush.

SCHOOL DISTRICTS

El Paso County is home to 17 public school districts, in addition to several private schools. In the 2023–2024 school year, Cheyenne Mountain School District 12 in Colorado Springs was ranked the #1 public school district in Colorado.

POPULATION DENSITY

2020 Census Data

 343.5 inhabitants per sq. mile

 287,459 housing units

HOUSING

2023 Estimated Census Data

 65.25% of homes owner occupied

 34.75% of homes rented

AGE DEMOGRAPHIC

2023 Estimated Census Data

 23.28% under age 18

 10.28% between ages 18 to 24

 29.35% between ages 25 to 44

 22.51% between ages 45 to 64

 14.58% above age 65

COUNTY QUICK FACTS

 Most populous county in Colorado

 2,127 square miles

 Highest Average Temperature 84º

 Lowest Average Temperature 16º

Many residents of the mining region felt disconnected from the remote territorial governments of Kansas and Nebraska, so they voted to form their own Territory of Jefferson on October 24, 1859. The following month, the Jefferson Territorial Legislature organized 12 counties for the new territory including El Paso County. El Paso County was named for the Spanish language name for Ute Pass north of Pikes Peak. Colorado City served as the county seat of El Paso County.

EL PASO COUNTY BASE MAP

13360 BANDANERO DR PEYTON CO 80831

Coffee Shops

13360 BANDANERO DR PEYTON CO 80831

42321-03-002

Coffee Shops

Eating and Drinking Places

Golf Courses

13360 BANDANERO DR PEYTON CO 80831

UTILITIES & RESOURCES

EL PASO COUNTY UTILITIES

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

Spectrum (844) 509-8921 www.spectrum.com

Dish Network (800) 318-0572 www.dish.com

DIRECT TV (800) 531-5000 www.directtv.com

Colorado Springs Gazette (866) 632-6397 www.gazette.com

Mountain Metro Transit (719) 385-7433 www.coloradosprings.gov/mountainmetro

Colorado Natural Gas (800) 720-8193 www.coloradonaturalgas.com

Xcel Energy (800) 895-4999 co.my.xcelenergy.com

CORE Electric (719) 596-8134 www.core.coop

Meridian Service Metropolitan District Water & Sewer (719) 495-6567 www.meridianservice.org

Waste Management Garbage (800) 808-5901 www.wm.com

Waste Connections (719) 591-5000 wasteconnections.com/colorado-springs

Falcon School District 49

(719) 492.1100 www.d49.org

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/pub/home.xhtml

County Elections Oﬃce Contacts

Adams County

4430 S Adams County Pkwy 1st Floor, Suite E3102 Brighton, CO 80601 (720) 523-6500

Arapahoe County 5334 S Prince St Littleton, CO 80120 (303) 795-4511

Boulder County 1750 33rd St, Suite 200 Boulder, CO 80301 (303) 413-7740

Broomﬁeld County One DesCombes Dr Broomﬁeld, CO 80020 (303) 438-6332

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

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

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

Jeﬀerson County 3500 Illinois Street, Suite 1100 Golden, CO 80401 (303) 271-8168

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/

WIRE FRAUD

PROTECT YOUR MONEY WHEN BUYING A HOME: YOUR WIRE FRAUD CHECKLIST

Every day, hackers try to steal your money by emailing fake wire instructions. Criminals will use a similar email address and steal a logo and other info to make it look like the email came from your real estate agent or title company. You can protect yourself and your money by following the steps below.

Don’t send sensitive ﬁnancial information via email.

Call, don’t email. Conﬁrm your wiring instructions by phone using a known number before transferring funds.

We will never email wiring instructions to you nor change WFG account information after it’s been provided to you by our staﬀ.

Keep your email account clean, remove any stale messages. Hackers can watch your business patterns and use this information against you.

Ask your bank to conﬁrm the name on the account before sending a wire.

Call your title company or real estate agent within four to eight hours to conﬁrm they have received your money.

This is for informational purposes only and should not be considered legal advice.

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

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

The Buyer/Agent

• Deposits funds required to close with the escrow agent

• 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 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 examples below are typical. However, the real estate purchase agreement will ultimately determine who is paying for what expenses.

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.

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

METRO OFFICE

2. COLORADO SPRINGS OFFICE

1. CHERRY CREEK OFFICE

Altos Market Report

WFG’s My Home

Talking House Tent Cards

CC&R’s (if applicable)

Notes

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 Peyton, CO 80831 is $590,000 with the market action index hovering around 36. This is about the same as last month's market action index of 36 Inventory has increased to 153.

Market Action Index

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

Real-Time Market Profile

Median List Price $590,000 Median Price of New Listings $575,000 Per Square Foot $195

Days on Market 79

Slight Seller's Advantage Market Narrative

The market has started cooling and prices have been ﬂat for several weeks 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

Slight Seller's Advantage

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

Median List Price

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re signiﬁcantly below the top of the market, 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 have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

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 relatively steady around these levels in recent weeks.

Market Action Index

The market has started cooling and prices have been ﬂat for several weeks. 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.

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.

Median Days on Market (DOM)

The properties have been on the market for an average of 82 days. Half of the listings have come newly on the market in the past 61 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.