Before you buy a house, it might be wise for you to fully research the home as much as possible. While there are many ways to do this, one option is by purchasing a CLUE report. A CLUE report is something you can buy for any home, and it could reveal important information you may want to know about a house before you buy it. Here are three important things to understand about CLUE reports when shopping for a house to buy.
What is a CLUE report?
CLUE stands for Comprehensive Loss Underwriting Exchange, and CLUE reports contain information about homes and insurance claims. When a person sells a house, he or she is required by law to tell you about any problems the house has. Unfortunately, the seller might not know about problems the house had in its past, and you might be able to find out this information by reading the CLUE report on a house. Every house has a CLUE report; however, some homes do not have any information on their reports.
What can a CLUE report tell you?
A CLUE report is designed to reveal any insurance claims on a house for the past seven years. For example, if a homeowner filed a claim for water damage and mold remediation three years ago, it will appear on this report. If you read this report and find this out about a house you want to buy, it might cause you to second guess buying this house. When homes experience water damage and mold, the problems can leave permanent effects on a house. This is an example of something you would want to know before buying a house, but this is information that the homeowner might be cautious about giving you.
How can you buy a CLUE report?
If you are buying a house and want to know as much as possible about the home, you can purchase a CLUE report by contacting LexisNexis. These reports are typically free to obtain, but you might need to show proof that you are buying a house in order for you to obtain the report for a house.
When you invest a lot of money into a home, you should do everything you can do to make sure you know what you are buying. If you have other questions about the home-buying process, talk to an experienced agent in your neighborhood. To learn more, contact a real estate services company near you.Share