DO YOU KNOW THE CLAIMS HISTORY OF YOUR REAL ESTATE INVESTMENT?
CLAIMS HISTORY WILL REVEAL NEED-TO-KNOW INFORMATION ABOUT THE PROPERTY.
When it comes to real estate investments, home history is important. The Claims History of a property will give you a window into any previous discrepancy it may have had prior to purchase.
What Does Claims History Show?
The claims history of a property can answer the following questions a real estate investor might have:
- Has the home been flooded?
- Was there fire damage?
- What about wind or hail damage?
For example, the history of the home may reveal that the house has sustained flooding damage after the most recent hurricane. Thus, you, as a real estate investor, can then make a more formidable investment decision.
Why Is Claims History Important?
These are all important because it can impact future liabilities. For example, if there was past flooding on the property, will there be mold issues later on? Additionally, if there was fire damage, will this create ventilation issues? The more you know, the better prepared you can be.
Remember, you can also get a C.L.U.E report to find detailed information on the property you intend to purchase.