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Was there any damage to the home I am buying?

By
Services for Real Estate Pros Insurance NPN # 13379201

Your Buyers are purchasing an REO property. They ask you if there were any previous damages from any Insurance claims? You can’t find the previous owners to ask?

Oh, What to do? Order a CLUE report

Providing information to a potential buyer that makes the home you are selling more attractive is to your advantage.

Some homebuyers are requiring home sellers to provide a C.L.U.E. Home Seller's Disclosure Report as a contingency to a purchase offer.

By ordering the C.L.U.E. Home Seller's Disclosure Report at the time of listing, the smart seller and his/her agent are ready for the first potential buyer to walk in the door.
Information provided on the reports include the date of the loss, the type of loss, the name of the insurance company, policy number, the amount paid, and other general information.

 As with any report that is collected by a consumer reporting agency, you have the right to obtain a free copy annually. Information on how to obtain your CLUE report can be found on the CLUE Report website

your insurance premiums are determined by the information provided on these reports, therefore,

 it is recommended to check them periodically. In the event you find a discrepancy on your report, you have the right by law to dispute it.

 

Posted by

 

David Cole
David Cole CPA - Orlando, FL
David Cole CPA
Good info Frank. This would be good for a prospective homebuyer to get
Feb 02, 2013 02:54 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

This is  indeed great information, Frank. I had never heard of the website.

Feb 02, 2013 08:15 AM
Amy Stockman
Lakeridge Land Suveying & Mapping, LLC - Winter Garden, FL
Lakeridge Surveying

Frank, I did not know this. kind of like the carfax but for homes. that would be good for a listing package

Feb 02, 2013 09:46 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Frank I was not aware of CLUE's Reports, so this was great information for me.

Feb 02, 2013 10:43 AM
Frank Laisch
Orlando, FL
"The Insurance Guy"

yes, we have seen this where buyers purchase a home from the bank and don;t realize there was a claim and repairs from the original owner... Yes, Amy it is kind of like a carfax for homes to show any claim payouts

Feb 02, 2013 09:41 PM
Sabrina Schirmer
National Insurance Solutions, LLC - Winter Haven, FL

making sure the sellers are disclosing any damages to a home is important. this is a good link to obtain a report

Feb 09, 2013 10:30 PM