What is That? Why do you Need It?
Simply stated a Tucson CLUE Report is an insurance claims history for a particular Tucson home. As a Tucson Home buyer you should be concerned about any previous insurance claims against the home you are considering for purchase. Previous claims against the home may impact the price or even the availability of insurance for the home under consideration. Most lenders are requiring a C.L.U.E. REPORT before they will give final approval on the home loan due to the potential inability to get home insurance. The standard Residential Real Estate Purchase Contract contains language stating that the seller shall provide a C.L.U.E. report to the buyer. The C.L.U.E. Report provided by the Seller is an independent source of information about insurance losses at the premises. The Seller should provide a 5 year claims history for the premises (or for the length of time the seller has owned the home if less than 5 years). When there are no losses reported on the C.L.U.E. Report the Buyer should not have any problem obtaining homeowners insurance, based upon the claims history of the home. As a Tucson Home Buyer, you will want to make sure you see a C.L.U.E. Report on the Tucson Home you are considering for purchase. As part of our process, we will make sure that document is obtained and forwarded to you.