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Insuring some properties may be a difficulty! You can find out before you buy!
Submitted by ChrisFerguson on Fri, 10/30/2009 - 15:11.Insuring some properties may be a difficulty! You can find out before you buy!
Did you know the insurance industry keeps track of the address information of insured properties and may hold claims from a prior owner against a new buyer? This means, a perfectly suitable home that has had claims in the past or repairs that are satisfactory but were paid for by insurance means may affect the new home owner?
No, this is not a joke, nor is it spam. Check for yourself, these are called CLUE reports and consumer advocates are making much-a-do about these. National celebrity consumer advocate Clark Howard spoke about this on his radio show today. The state of Wisconsin has provided much needed inforation online that you may need to understand, also: http://oci.wi.gov/pub_list/pi-207.htm.
If you are an interested buyeror agent and this concerns you (or your client) then you can get one for about $20.00. Now you can know before you buy! And you can consider any undisclosed problems or past claims that may affect your insurance rate later. This is a great way to verify the disclosure statement in a home you have toured.
Think of this like a "CARFAX" report for your home...
Get one if you need it:
https://www.choicetrust.com/servlet/com.kx.cs.servlets.CsServlet?channel=home&product=ror&subproduct=order