A great little report that can tell you more than the sellers might, but is mostly unheard of by the majority of the public, is a CLUE Report. What is a CLUE report you ask? To begin with, the acronym means Comprehensive Loss Underwriting Exchange. It is a database used by the insurance industry which includes information about any and all claims filed on a particular property.
In Florida, where I am also licensed, the report is being utilized more often due to the amount of past hurricanes. While full disclosure of any problems associated with a home is required by sellers, some sellers do neglect to inform prospective buyers if any damage has ever occurred to the home. A CLUE report will tell a buyer exactly what kind of claims have been filed against a particular property and when. Some might think such a report is not needed for Minneapolis real estate, but with hail storms, tornadoes, and fires still possible in the area, the report can be used as just another piece of information to put buyers mind at rest.
Buyers, the report can only be requested by the owner of the insurance policy, so don’t try to do it yourself if you are thinking of purchasing a home. Instead, make your offer contingent upon review of the document. Consider it an extension of the Inspection Report.
Sellers, from the beginning, always disclose any and all damage & repairs that have effected the home during your ownership. If a buyer asks for a CLUE report, gladly provide one. While you might see it as an annoyance, it could just be the final key to selling your home.