Security Title Builder Services Guide

Report Process Overview

When you are ready for construction loan financing, the reports referred to previously will form the basis of a title commitment for the benefit of you and your lender. Your Security Title Agency title officer will then be working with you and your lender to: • Provide the above referenced title commitment. • Provide plotting of recorded easement locations as required by your lender. • Provide recorded document copies (referenced in the title report) required by your lender. • Consult with you and your lender to resolve any title insurance issues or needs raised by your lender. • Review, record and insure the construction loan documents as required by your lender.

Now, let us attempt to simplify the process a bit. The subdivision disclosure report application process can be broken down into a few specific areas:

Completion of the Subdivision Disclosure Report : Although the developer, builder or subdivider is ultimately responsible for the content of the information needed to complete the subdivision disclosure report (public report), we consider this to be a collaborative effort. The information contained in the public report comes from a variety of sources, such as engineers, attorneys, Security Title Agency and you, the developer, builder or subdivider. All information contained in the public report must be reviewed and accepted by you prior to submittal to the Arizona Department of Real Estate. Required documents for licenser: As mentioned earlier, a number of documents are required for licenser. The subdivision disclosure report (public report) is both an information statement for the purchaser (a copy of which must be provided to the purchaser prior to the signing of the purchase contract) and a license for the developer, builder or subdivider to advertise, open and close subdivided property for sale. The required documents described in this packet must be obtained prior to application for subdivision report to be submitted to the Arizona Department of Real Estate for processing. Filing with the Arizona Department of Real Estate: We have devised a method of filing for subdivision disclosure report that exceeds the standards set by the Arizona Department of Real Estate. We feel that exceeding the expectations of a state agency can, and often does, reduce the overall processing time. We will file your subdivision disclosure report application electronically to the Arizona Department of Real Estate. We feel this to be important to continue our excellent working relationship with a state regulatory office and to add a face to the work being submitted. We then will track your application through the approval process and answer any questions that may arise during the Arizona Department of Real Estate’s review of your application.

Copyright 2015 Security Title: Content cannot be edited or reproduced without written permission from Security Title. All content herein is informational only and not intended to offer legal or financial advice.

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