We all know by now it is good idea to keep track of your credit record, especially if you are buying a home. Now, there is more to do. Did you know if the house you are about to buy has a record? It may have had mold issues or water damage not disclosed by the seller or not discovered in an inspection. Any insurance past issues could create unexpected costs in the future as well negatively impact your ability to obtain hazard insurance or increase your premiums. It is best to be informed rather than out of the loop when it comes to buying a home.
Afterall, this new real estate landscape is muddled enough by short sales and foreclosures to proceed forward without a clue. Fortunately, there is a nationwide database of property claims which can produce a report on a house showing its damage history for the past five years. This information is packaged as a C.L.U.E.® report - an acronym for Comprehensive Loss Underwriting Exchange.
Only the owner of the home or an insurer can order this report. If you are an agent representing either the buyer or seller, the report request must be made by the property owner. Buyers and real estate agents can not obtain the C.L.U.E.® Home Seller's Disclosure Report directly. Every property owner is entitled to one free report during a 12 month period.
Why is this important? Information is becoming invaluable, especially in our housing market. Think about the buyer's comfort level for a minute. Any offer could be made contingent on viewing this report. A report with no insurance losses on the property would be good news for the buyer. There are advantages to a seller as well. If the home has no loss history, a C.L.U.E. ® report provided to buyers could be the information which moves them forward to make an offer. A home without a history of loss would be an advantage over one where there has been loss history, especially for insurance costs and pricing.
Remember, in the same way we can not judge a book by its cover, the same applies to your next home.
The Santa Fe real estate market is a local one. Real estate news reports and trends in other communities does not apply here. Search all current properties here with a fast and easy list or map search. If you are thinking about selling your home or considering a lifestyle change in relocating to Santa Fe, I suggest you give me a call at 505-660-4541 to schedule a real estate consultation. No one has time or money to waste in this new landscape of real estate. I am available to help you and make a positive difference in your real estate experience. Remember, dreams can be made a reality when you act on them. Emily Medvec
Today, I work with buyers and represent sellers in all price ranges in Santa Fe and throughout northern New Mexico. My focus is to use my experience, vision and strategies to find you opportunities and solutions. My goal is always to save you time and money whether you are buying or selling any form of Santa Fe real estate, including homes, land, town homes, condominiums, ranches and commercial property.
Emily Medvec Copyright 2012 All Rights Reserved 2007-2012