Here’s everything you need to know about CLUE reports.
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Feel free to watch the video above to learn all you need to know about this topic or use these timestamps to skip ahead to various sections at your leisure:
1:25—Why should a buyer get a CLUE report?
2:07—A property can carry a CLUE report for something that has nothing to do with the seller’s disclosure
3:17—How far back can claims go? How can you request a CLUE report?
4:04—What will you find on a CLUE report? Can claims be made on a property and not show up in a CLUE report?
4:37—Other valuable CLUE report tidbits
5:41—Why would a CLUE report be important for a seller?
How You Can Use the CLUE
- Gives a buyer some insight into the home’s history
- Match the CLUE with the Seller’s Disclosure
- Can provide additional negotiation opportunities
How Insurance Uses the CLUE
- Helps determine insurability of a property
- Is a component in th premium calculations
- Aids in deciding if an individual is a good risk
6:27—How to contact Chris
6:59—Wrapping things up
As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.
What is a CLUE report? Today I’m joined by insurance expert Chris Monaghan to answer that question and more. CLUE stands for Comprehensive Loss Underwriting Exchange, and this report is a valuable resource used in the insurance industry to assess homeowners insurance risk. It shows the lost history of a property and the associated owner.
What is a CLUE Report?