First let's discus what a Property Fax report is; this is a report on your house or the house you are interested in purchasing. It shows any previous insurance claims made within the last 5 years. But why is a PropertyFax report important?

This report will not just save you from buying a possible headache, but also save you money. Even if you have a Home Inspector perform a home inspection on the property, there are might hidden damages that can't be seen! By providing access to a claims history report, Property Fax helps first time home buyers, Real Estate agents and even seasoned investors, make an informed decisions about the property in consideration.

What if a burglar robbed the home in the past, with this report you can find out if the house is now secure. Do the alarms work? Have new locks been installed? Was it an isolated incident? If the answer is no, the buyer can rethink the purchase, or negotiate with the seller for lower price.

A Property Fax report contains a 5-year history of loss information submitted for payment, provided by insurance companies including contamination, earthquake, fire, flood, freezing water, liability, lightning, smoke, theft/burglary, vandalism, water and wind damage claims. It contains claim information such as date of loss, type of loss, amounts paid and a description of property covered.

If the property has not had any claims in the past 5 years, this report can provide you some comfort and reassurance about the property condition. If the Property Fax report does show claim, then you also learn about positive attributes of the potential new home. For example, if you are buying an older home and the roof was just replaced because of storm damage, you may be very happy knowing the property recently received a new roof.

Past Insurance claims on the property can Haunt the new home owner!

Property insurance is much like any other insurance out there, they consider the risks involved on the asset they are insuring. If the property you are looking to purchase has had numerous claims in the past, this mean the insurer might not insure your property or demand a higher rate due to the risk involved to insure the property.

For example, the previous owner made two previous claim, one for roof damage due to wind, then another for damaged sewer pipes. The insurance paid for both, costing the insurer several thousand dollars. Then the previous owner made another claim for leaky faucet, but since his deductible was $1000 he decided to make the repairs himself. Now you go to purchase a policy for this home, and you are denied based on the fact the home has had three claims in the past three years: the roof, pipes and the leaky faucet. What has happened is the homeowner's insurer opened a claim file on the leaky faucet as soon as he called and then later marked it "closed, with no payment" when the homeowner decided to fix the leak himself. Insurance companies say it is standard procedure to record such telephone inquiries in this manner.

A Property Fax report is also important for Home Sellers!

If you are selling your house and know your property is in good condition, why would you not want to provide your prospective buyers with a PropertyFax report? This minute investment will provide the buyers with a more relaxed and comfortable feel about your house, and might be the deciding factor when they consider which house to buy!

BUY A PROPERTY FAX REPORT NOW