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  • km9
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How can you obtain a clue report as a buyer?

I misunderstood that I would be able to go to lexisnexis and obtain a clue report on a property that I am close to buying.  The property has a long steep hillside going upward behind the house which has me concerned about fire hazards and insurance risks.  Apparently only the seller or their lender can access the report.  The property is a foreclosure and it looks like it will go to escrow soon.  Is there any way that I can access the report aside from the bank paying for it?  I don't think they would pay anyway.  I plan to call for insurance quotes tomorrow.
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December 15 2010 - Santa Clarita
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You should get a Natural Hazard Report From Disclosure source and add CLUE report to that. You can buy the same report from Homeguard. This NHD and CLUE report will have all the information you need. Clue report will give you all the insurance claims against that particular property. Natural Hazard Report Will give you all kinds of natural hazards the property is exposed to i.e.  Fire, Earthquick, flooding, landslides etc. etc. If you need help ordering these reports please call me at [contact info removed by moderator]
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December 15 2010
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  • km9
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Thanks Farooq,
I'll ask my agent to see if he can get the bank to provide both.
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December 15 2010

You don't need an agent to order a C.L.U.E. Report. You can order it directly from: http://www.disclosure.com

From what you stated is in regard to a NHD report and that won't disclose what you are asking about if you are referring to the hillside itself. It will tell you if you are in a high file risk area though.

If you want a C.L.U.E. Report which is:

The C.L.U.E.® Risk-Only ReportTM - $19.00
Five-year history of insurance claims on the property
 
If you have an agent, the seller is suppose to supply the NHD report and your agent can request the C.L.U.E. Report along with the offer. If you are the seller, your agent should be doing this on auto-pilot... Actually, the C.L.U.E. Report isn't a common report, but I have had it requested a couple of times and one agent ordered it and surprised me when they found an undisclosed item that wasn't disclosed to me (water damage insurance claim).

You can gain the same information as the lender or the agents... You just need to know where to go. Most of this information is gained through county and state websites, for free.

Remember, it is the sellers responsibility to disclose the taxes on the property, which just so happens to be in the NHD report.

Good luck

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December 15 2010

I always thought it was funny how the REO Advisory (C.A.R. Form: REO) says a Bank is Exempt from having to provide a NHD Report (Exemption #1) and then down the form under Requirements (Requirements #2), it states that the Bank is "NOT EXEMPT" from disclosing hazards, i.e., faults, fire, flood, etc...

So another words, they are exempt from providing you a NHD, yet they must disclose, basically, what is in a NHD report. Which by the way means at their expense... Right? 

Hmmm....

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December 15 2010
The listing agent will provide an NHD report for the property you are purchasing.  If they dont, your buyers agent should order that for the buyer.  I provide a Clue Report for every every buyer and seller I represent at no charge to either party. I believe in disclosing everything relevent to the property so the buyer is aware of everything involved with the property they are purchasing.
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December 15 2010
Robert forgot the "s" in www.disclosures.com

Happy funding, Rudi
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December 16 2010
Thanks Rudi, I thought I corrected that.

Have a great day!
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December 16 2010
The NHD report from any of the many vendors who provide it are available to anyone who is willing to pay for it.  Don't worry about the allocation of cost as it is minimal and the information is important for your buying decision process.
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December 16 2010
To access your C.L.U.E. report, visit www.ChoiceTrust.com. This is a service provided by Lexis Nexis.  Don't be alarmed if you are redirected to their site.

For more information about clue reports and what to look for, view my blog post here.
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December 16 2010
When you call for your new quote on insuring the home, they should be able to provide you with the insurance history as well.
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December 16 2010
Welcome Robert.

Happy funding, Rudi
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December 16 2010

The agent should have information on the property as well and knowledge of the neighborhood.  If the neighborhood had a history of slippage the agent and the neighbors would be able to tell you this.  A Clue Report gives you information ONLY about what has occurred in the home.  The Natural Hazard Report will give you information on: FLOOD HAZARD, HIGH FIRE HAZARD SEVERITY ZONE, WILDLAND AREA THAT MAY CONTAIN SUBSTANTIALFOREST FIRE RISKS AND HAZARDS, EARTHQUAKE FAULT ZONE, and  SEISMIC HAZARD ZONE which would show landslide potential.  Ask the listing agent to give you a copy of the NHD report before you make an offer on the property.  The report could be emailed to you.  If you would like a Clue Report I can run one for you all I need is your name and the property address.  Let me knowJ

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December 16 2010
 
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