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Updated 23 days ago on . Most recent reply

User Stats

9
Posts
2
Votes
Jo-Anne Fenwick
  • Investor
  • Falls Church, VA
2
Votes |
9
Posts

CLUE Report (Due Diligence Prior to Closing)

Jo-Anne Fenwick
  • Investor
  • Falls Church, VA
Posted

Hello, Has anyone heard of a CLUE Report? Someone told me that it's important to get a CLUE Report to review history or insurance claims and issues because it may impact the insurance premium. I'm in the process of getting insurance quotes during my due diligence period. So, my agent asked the seller's agent for the CLUE report and she said she never heard of it. I did a quick Google and it does exist. Now, I'm starting to think she doesn't want me to see what's on the report prior to closing. Have any of you requested the CLUE Report before? If the Seller's agent doesn't provide it, what do you think I should do? I don't want to be blindsided by a huge insurance premium, which will take away from my cash flow. The inspection happens today, so I'm also going review the results of that. This is the first time purchasing a small multi-family property. Also, the property is in another state. My other properties were bought through house hacking. So, I'm new to this. Thanks in advance!

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