Get a CLUE!

The CLUE Personal Property report provides a seven year history of losses associated with an individual and his/her personal property. The following data will be identified for each loss: date of loss, loss type, and amount paid along with general information such as policy number, claim number and insurance company name.
Providing information to a potential buyer makes the home you are selling more attractive, and is to your advantage. More and more homebuyers are requiring home sellers to provide a CLUE report as a contingency to a purchase offer. By ordering the report at the time of listing, the smart seller and his/her agent are ready for the first potential buyer to walk in the door. At the same time, a potential buyer will achieve a greater comfort level when making an offer on a property for which the loss history is known.
Until CLUE reports are a standard disclosure in any home sale, here's how you can avoid a bad situation:
When Working With Sellers:
Ask sellers to order their home's CLUE report before listing the property. This will make them aware of potential problems in selling the home and will give them a chance to correct any wrong information in the report.
A clean CLUE report can be used as a selling point. Make sure potential buyers know that it's available for them to view.
Under the Fair and Accurate Credit Transactions Act of 2003, property owners can order one free report every year.
When Working With Buyers:
Make the purchase contingent on viewing a CLUE report, or on the buyer obtaining affordable insurance. Check with your state REALTOR® association or real estate commission to see if it offers a rider or an addendum that you can include with the contract.
Ask the buyer to apply for insurance immediately after a signed contract.
Buyers also should request a copy of their personal Insurance Scores, which also are often used by insurance companies to determine consumers' overall insurance risks and premiums. Learning what factors are used in calculating rates can help consumers reduce their insurance premiums over time.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900