More CLUEs to Help You Find the Right Home

 

 

Everybody knows that there is a ton of paperwork and documentation involved in the homebuying process, most of which is required to protect both parties and ensure that the buyer has as much information as possible about the property they are about to purchase. Recently, requesting a Comprehensive Loss Underwriting Exchange (CLUE) report has become popular amongst homebuyers.

 

So what exactly is a CLUE report? A CLUE report includes "up to five years of personal property claim history" (CLUE). This is important information to have when purchasing a property because a significant number of claims could affect the availability and cost of homeowner's insurance for the new owner. Since these reports are only available to insurance companies, lenders and property owners, concerned homebuyers may want to have their agent make their home purchase contingent upon receiving this report.

 

Sources:

http://www.kivitv.com/Global/story.asp?S=14001122

http://www.iid.state.ia.us/docs/WhatisCLUE.pdf

 

Want to learn more about the homebuying process? Click here to find one of our agents who would be happy to assist you. Looking for a new home? Search for Montgomery, Bucks, or Philadelphia County homes.