Past Home owner's claims history

by Guest » Sat Dec 05, 2009 07:20 am
Guest

Do I need to check the claims history of a house that I wish to purchase?

Total Comments: 9

Posted: Sun Dec 06, 2009 01:31 pm Post Subject:

No, and I sincerly doubt you could...don't all homes have to have a statement from the owner (i forget the name of it)..a disclosure statement showing anything that has had or has presently any issue?

Posted: Sun Dec 06, 2009 05:46 pm Post Subject:

that's correct and when you apply for homeowners insurance your agent will run a clue report on that address... that should show any previous claims over the past 5 years or so

we run into this quite often and many times need to verify that the repairs were in fact made before we can offer the new buyer any coverage

Posted: Mon Dec 07, 2009 06:31 am Post Subject:

But how could I be sure that the owner is not missing out on something? Then, I guess I should apply for the insurance prior to my purchase in order to know what the clue report reveals.

Posted: Tue Dec 08, 2009 07:07 am Post Subject:

a disclosure statement showing anything that has had or has presently any issue?


Yes, it's known as the home seller's disclosure report.
Being a prospective buyer you just can't access the clue report. For that you'd need to be the home owner. But, a prospective buyer feels confident if he's provided with the property loss history.
Once you'd buy a home and apply for home insurance, a clue report request would be forwarded by your carrier automatically. Roddick

Posted: Tue Dec 08, 2009 12:11 pm Post Subject:

Yes, it's known as the home seller's disclosure report.

Thanks Rod, I couldn't remember what it was called..

Posted: Wed Dec 09, 2009 06:00 am Post Subject:

Under circumstances that you're being denied of coverage due to the CLUE report information, you could receive a copy of the CLUE report as per the Fair Credit Reporting Act. After going through the report, if you don't agree with the information present in it, you may have the choice to get the events attached in the report.

Posted: Thu Dec 10, 2009 08:31 am Post Subject:

CLUE serves both the insurance consumer as well as the insurer. One one hand, it offers information to insurers regarding potential risks associated with properties. On the other hand it helps insurance consumers to take the right decisions while dealing with properties.

Posted: Fri Dec 11, 2009 09:08 am Post Subject:

In order to avoid surprises later on a prospective buyer should be well aware of the home history. He should request for a home seller's disclosure report in the form of a contingency to the real estate closure.

Add your comment

Image CAPTCHA
Enter the characters shown in the image.