Prices May Vary

Is a CLUE Report Free?

Comprehensive Loss Underwriting ExchangeWe meant to find links to a free CLUE report, but depending on where you look money is involved. If you are a homebuyer, you should be asking for the report from the seller, who is the only one who can give it to you, and the report should indeed be free. The seller may have to fork out about $20 for the report, and should not be shy about handing it over.

If the seller is not shelling out the report in a timely manner, you should dig deeper and see if there are any losses associated with the home that can be determined by other means. It may very well be that the homeowner does not want to let you know that the house has hidden problems, or is at risk for mold claims which actually cost more to insure, so you will have headaches after closing.

Ask For It By Name

The difference between CLUE reports for homes and CARFAX reports for cars is that anyone can order a CARFAX report based on a VIN number. Insurers and homeowners can order the reports, and a homeowner is the one who has to disseminate the report to interested buyers. Withholding the report, or claiming incovenience, is a sign that there may be some serious issues with the home.

Real Estate Agent Reporting

A clean CLUE report should be shown to every prospective homebuyer. Even though it only shows the previous 5 years of claims, it still stands as a great endorsement for the house and lets the buyer know that you are being upfront about any issues. Even a report with items on it can work in your favor. For example, if you show a report saying the roof was replaced due to hail damage in the past two years, this means that the house has a new roof! Not all damage claims are bad, and a creative real estate agent could use C.L.U.E. reports to show that a home was actually "more new" if there were extensive repairs. A house that is totally gutted by fire, and rebuilt from the ground up, would likely have new electrical work, new plumbing, and better insulation than the old model. This could make a home stand out in older neighborhoods, and could actually increase the value if you can sell the positive nature of a complete remodel.