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The CLUE, short for Comprehensive Loss Underwriting Exchange Report, is a valuable tool when purchasing real estate because it provides potential home buyers and insurance companies with a detailed analysis of all homeowner’s insurance claims made against that property over the past 7 years. <\/b><\/p>
This report is useful for buyers as it provides a better understanding of the types of claims on real estate.<\/b><\/p>\n
Getting one will help you better understand the concerns on the property that you want to know before deciding to purchase the property. <\/b><\/p>
You can expect this report to include information such as type of loss, date of loss, and amount paid. It also contains general information about different insurance companies with the details of claims that were made.<\/b><\/p>\n
These reports are important because they can provide detail on a property that may help the buyers reconsider their decision of buying a specific property. <\/b><\/p>
For example, if you find out that your property insurance has paid out as a result of major roof damage or structural damage, this could be a cause for concern. <\/b><\/p>
Just like borrowers can get this report so do the insurance companies, and these types of issues can make it difficult to get insurance or the buyer may end up paying higher premiums.<\/b><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t