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This Is Why You Always Read The Prelim

May 1, 2008

As part of buying a home, you’ll get a big packet of stuff from the Title company, with a preliminary title report. It’s very important that you read through the stuff the title company sends you, as the title report can uncover some interesting things. Such as….

See those words circled in blue?  “Well agreement.”  Ah, what well?  We have no information about a well on the property.

Also this: see that blue arrow pointing to that long rectangle?  That long rectangle is a utility easement, 10 foot wide, where the electric company has the right of way to that strip of land on the parcel, a strip where the owner can’t put a building or a fence or otherwise obstruct the electric company’s access.

Now, I’m no surveyor, but I’m going to give you one guess as to where it appears house is, relative to that easement…

Other Information That Might Be Helpful

• Reading Preliminary Title Reports (August 5, 2008)

  I wrote earlier about why you review the preliminary title report, but let’s just review what a preliminary title report is.  We call it “the prelim,” in agent-speak around Tucson.
  If you’re buying a home in Tucson and using the standard resale contract, then you should receive a preliminary title report from the title company within [...]

• We Don’t Do No Stinkin’ Surveys (May 12, 2008)

  I work with a lot of home buyers who are relocating to Tucson, and that have purchased homes in other states.  In many of those other states, I’m told, it is customary to have a survey when you buy a house.
  Not so in Tucson.
  You might get a survey if you buy a parcel of land, [...]

• Downtown Tucson News (February 11, 2008)

  Lately, I’ve had several inquires about downtown Tucson and the real estate there.
  In researching the area, I came across the Downtown Tucson website, which is a great resource. 
  There’s all kinds of information there, all gathered into one place: schedules for the Rialto Theatre, the Fox Theatre, Club Congress, construction and traffic updates, daily events [...]

• Top Ten Things To Know About Tucson Real Estate - Community Property and Other Ways to Take Title (July 23, 2008)

  Number 9 - Community Property
  Arizona is a Community Property state, which means that anytime a husband and wife purchase property in Tucson, it is assumed that they’ll hold title together, equally, as community property.
  When one spouse tries to buy property on their own, the other spouse usually has to explicitly give up their rights to [...]

• Triple Pane Windows (November 29, 2007)

  Replacing the windows in your house can be a good investment and a nice upgrade.  In many older houses, the original single pane and casement windows don’t operate well, are missing cranks and screens that can be hard to replace because of odd sizing, and can equate to higher heating and cooling costs.
  I’m seeing a [...]

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