What is a CLUE report? Most home buyers have never even heard of a CLUE report until after making an offer on a home. The Comprehensive Loss Underwriting Exchange (“C.L.U.E.”) is a database that the insurance underwriters commonly use to track a seven year loss history for a given address, resulting in a C.L.U.E.® Home Seller Disclosure Report.
In layman’s terms, it’s an invaluable tool available to the buyer to assess the availability and price of homeowners insurance on a specific property.
Review CLUE report insurance claims history
If you are purchasing a home using the Arizona Association of Realtors Purchase Contract, it is the seller’s responsibility to deliver to the buyer a 5 year insurance claims history within 5 days of contract acceptance. Most sellers get the history directly from their current insurer, but they can elect to purchase a report directly from LexisNexis.
Once the buyer receives the report, it’s the buyer’s role to notify the seller of any items disapproved within the inspection period. And if you make the decision to proceed with the sale, make sure you check with your own homeowners insurance agent before the end of your inspection period about the ability and cost to insure your new home.
As DC Ranch real estate experts, our goal is to provide our buyers with the most up-to-date informational tools and resources in real estate. Make DCRanchHomes your resource for information on our community, including DC Ranch homes for sale.
Reach out to us if we can serve you in the DC Ranch or Scottsdale area.
Don Matheson
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255
480-360-0281
don@scottsdalerealestate.com
