Insurance Claim

What's a CLUE Report, and why should you care? If you're buying or selling a property, you will care a lot.

You've searched for far too long, and you've finally found a house that you want to buy. You've fallen in love with this house and you're already dreaming of the ways you'll decorate it.

But, what if you found out that your dream house had suffered a major fire three years ago, and extensive repairs were required? Or what if you learned that the house was flooded and rebuilt? Would that change your opinion of your dream house? Not only that, would this new knowledge change the purchase price you would offer for the home? Could the damages cause an insurance company to charge you a higher premium for your homeowner's insurance?

Now, think about this situation. You live on a street of homes that are comparable in size and value to one another. Your house is one of four homes on your street for sale. All four are priced the same. However, one of the four homes on your street had a major fire and rebuild three years ago. Do you think that the value of the repaired home should be the same as yours?

That's why ChoiceTrust offers the C.L.U.E. Home Seller's Disclosure Report. "C.L.U.E." stands for Comprehensive Loss Underwriting Exchange, which is a database featuring loss information compiled by the insurance companies. A C.L.U.E. report provides a five-year history of losses that have been filed against insurance policies covering a given property. The report provides information including the dates and types of losses and the amounts paid for each loss.

It's a report that you purchase as the home seller. It can give prospective home buyers valuable information about losses associated with your home. Then the buyers can make an informed decision when buying your home. If the report shows prior claims, a buyer could ask for evidence that the damages were properly repaired.

A C.L.U.E. report that shows no losses can give you, the home seller, an advantage when your home is compared with similar properties.

Real Estate Agents: Ask the property seller for a C.L.U.E. Report! Furnishing loss information to a potential buyer that makes the home you are selling more attractive gives you a competitive advantage. When you order the C.L.U.E. Report at the time of listing, the smart seller and his/her smart agent are ready for buyers immediately.

Question: May I order a C.L.U.E. Report on a property I want to buy?

Answer: Sorry, you may not. Only property owners (business or individual) can access a consumer report like the C.L.U.E. Report.

Question: How may I obtain my own report?

Answer: Order from http://www.choicetrust.com, and you can view your report online immediately. The report only costs $19.50 per address. You can also order reports on properties that are not your primary residence, such as rental property or vacation homes.

If you are a home buyer you should require home sellers to provide a C.L.U.E. Report as a contingency to a purchase offer. Your best friend in your real estate purchase could be the C.L.U.E. Report.

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