Property Condition, Disclosures, Inspections and Warranties

Question 1

Sellers aren’t obligated to point out the home’s flaws or defects to buyers.

Answer 1

caveat emptor

Question 2

A report not only helps home insurance underwriters, but it can also help buyers determine whether a particular property has hidden issues (and whether it may be difficult or expensive to obtain insurance). A CLUE report contains:

Insurance company names and policy numbers
Claim information, including dates, loss types, and loss payments

Answer 2

Comprehensive Loss Underwriting Exchange, or CLUE, report.