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Archive for September, 2012

The clubhouse construction update and general information on new construction at Regency Yardley, premier adult luxury community in Lower Bucks County.

To get more information and to schedule your tour, contact our team: 267.242.2712, homeswitholga@kw.com. for more information: http://www.HomesWithOlga.com

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Here is how PODS work, a great way to store, haul away your items, whether you are moving, doing work in the house or have other plans! Click here to find out how PODS works!

Brought to you by Olga St. Pierre Real Estate Team, 267.242.2712, http://www.HomesWithOlga.com, http://www.HomesSoldWithOlga.com.

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I bet you did not know this one.

When you buy a used car you request a copy of the Carfax report to see the detailed history of the car:     from title problems to ownership history to accidents and service history. This report gives you a piece of mind that the car you are buying has been in good hands.

A purchase of a home is a lot more significant, It is one of the biggest purchases we make. CLUE stands for Comprehensive Loss Underwriting Exchange, is a database used by insurance companies to exchange information about the history of your home including claims, injuries, losses and other pertinent information. Important information, right?

The CLUE report remains with the house itself, rather than the owner of the home, just like with cars and Carfax reports.

In Pennsylvania, the Agreement of Sale includes a contingency of Property Insurance, where the buyer can determine insurability of the property by making an application for property and casualty insurance. In New Jersey, I include this contingency when preparing the contract for buyers before going through the Attorney Review.

During the original inquiry is when the insurance company can pull a CLUE report for the property to see if there are any issues. I always suggest the buyers that I work with to make the property insurance contingency. They want to make sure there were no major issues in the past that seller may not have reported about, and, if the property is not insurable, the buyers can not obtain the mortgage to purchase the home.

When buyers purchase the home, they can not themselves obtain a copy of the CLUE report for the property they are thinking about buying, however, this report can be reviewed by the insurance company or buyers can request sellers to obtain a copy for review.

You the homeowner, can, however, obtain a copy on your own home. Under the federal Fair Credit Reporting Act you can request a copy of your C.L.U.E. report from LexisNexis® toll free at 1-866-312-8076 or by visiting https://personalreports.lexisnexis.com.

I believe in checking out this report, just as you would request your credit report every year for free, to make sure there aren’t any issues on the report that should not be there.

We always learn something new, every day, don’t we?

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