If you’re in the market for buying a home, there’s one report you should ask from the sellers. It’s called a C.L.U.E. report, which details insurance claims on the property made in the last several years. Those claims can affect what you would pay for homeowners insurance on the property.
The report, also known as the Comprehensive Loss Underwriting Exchange, lists every claim—even if it was denied or just inquired about (so homeowners, take note: don’t ask your insurance agency about anything you don’t want listed on the report). In some states, Forbes notes, sellers are required by law to disclose any damage or repairs, but asking them to get the C.L.U.E. report is still a smart move.
Homeowners can get their reports for free every year and should check it for errors, just like we should with our credit reports.
The Report You Should Ask for Before Buying a House | Forbes
Photo by Monika Wisniewska (Shutterstock).
via Lifehacker
Ask for the C.L.U.E. Report Before You Buy a Home