CLUE Report impact when selling home
 

Has anyone put up a home for sale that has a Clue Report on file?

How much does a Clue Report affect the sale of the home for something significant such as damages from a water leak, , roof repair/replaced due to storm damage or a small electrical fire?

How significant will the impact be on the potential buyers interest in the house? Will it affect the insurance rates of the new homeowner? And how much does it affect the insurance rate?

Another acronym that many, if not most, people do not understand.

CLUE report stands for "Comprehensive Loss Underwriting Exchange" report.

Thank You! RG123

Here is the website to check where you can get reports.
Home - LexisNexis Risk Solutions Consumer Disclosure

If anyone needs more information chatgpt.com does a good job answering questions.

I never even heard of a CLUE report until I recently went to get FL car insurance and the agent found a report of an accident on my CLUE report which after I called Lexis and got it corrected it had impacted the car insurance quote I was receiving. Unfortunately, it’s far from a fool proof system should your name be similar to another person with the same name which in my case was my dad. Agents do not use SS numbers and simply rely on the name spelling for insurance entries in their system or CLUE. Having said that I never heard of a home for sale using a CLUE report? I was told it was a service used by insurance agencies to run insurance history reports (for accident history as an example) so they can quote the correct rates based on good or bad history. Below from their website to support that:
“For example, companies use our tools to verify identities in order to offer loans, quote insurance rates, and offer government assisted benefits.”

I don’t have clue what you’re talking about…:oops:

What is a CLUE report?
A Comprehensive Loss Underwriting Exchange (CLUE) report is a document that contains information about insurance claims made on a property within the past seven years. This report is used by insurance companies during the underwriting process to assess risk and determine insurance premiums. It includes details about the date of the claim, type of loss, and amount paid by the insurer.

It is very important if you are buying or selling a home. It can make it much more difficult to sell your home if there is negative information on it. It also can make your home uninsurable or result in much higher insurance rates.

I was clueless too. But cluelessness like ignorance is not bliss.

You did not say if your are dealing with this now or not? Who said the above quote and that it can make a difference? I have never heard of this? I don’t understand if you fixed the issues with a home (aka, acts of nature) under insurance vs. having car accidents that are your fault?

Homes are a little more complicated than autos. I know that the insurance companies will always pull a report before initiating coverage and look for past problems.
This site provides a little more info.
Protect Yourself as a Homebuyer: The Importance of a CLUE Report - HAR.com

Depends on the buyer and how they feel about the issue. I’ve seen buyers walk from a long ago water leak and others buy a house where a murder-suicide occurred.

Whatever the issue, as a seller make sure it’s properly disclosed.

Note that, in Florida, a murder-suicide is not considered a material fact about a house for sale, and it does not need to be disclosed to a potential buyer.

Correct. The CLUE report noted the insurance claim to repair damages to the property, which were significant. Note I said “properly disclosed”.