CLUE Reports – Why You Need To Get A CLUE Before Buying A House

Don’t know what a CLUE report is?  Too bad because not knowing could cost you when buying a home.   A CLUE report is basically a historical report that shows insurance claims filed against that house.  A bad CLUE report could reveal that insuring your house may be either more expensive or impossible due to the amount of claims.  It’s important to always ask for a copy of the CLUE report when buying a house.  Remember, the CLUE report stays with the house so claims made by the previous owner will show up on your report.  That’s why it’s important to know.  If you have a bad report, you can expect a few years of higher than normal insurance payments until a few claims go off your CLUE report records.  If you are a buyer wanting to buy a house with a bad CLUE report, adjust your asking price to compensate for the higher insurance premiums you’ll have to pay.  Sadly, most real estate agents don’t know what a CLUE report is.

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About Bill Petrey, Realtor

Bill Petrey, the CEO and Founder of AgentHarvest, has been written about in the Los Angeles Times, Inman News, AOL Real Estate, and Inman Next, among others. He founded AgentHarvest for the sole purpose of making the process of finding a good Realtor better and easier. Bill Petrey is an author and editor of both The AgentHarvest Blog, Real Examples of Really Rotten Realty Blog, and the creator of Really Rotten Realty.