Send me the Housefax!
No one wants to have buyer's remorse after purchasing a new house, and with a new home history report service, you may decrease the chances of that happening.
Housefax.com delivers reports, available online for $59, that include records of past building permits, mortgage information, fire, flood, sink hole data and other residential property records, according to a company statement.
"Though we're in the midst of a housing rebound, many homes have been neglected, rented, foreclosed or left vacant, and today's buyers are far more cautious," Eddy Lang, Housefax founder and CEO, said in a statement. "When finalizing a contract on a home, inspection reports often threaten closings too late in the process, and can miss hidden red flags like mold, fire and flood damage, or even meth labs, sink holes, earthquake fault lines and other hazards. It's important to do your own residential diligence before making an offer on any home."
The idea for Housefax came to Lang more than a decade ago when he saw how the late Ed McMahon and his wife were sickened by toxic mold in their Beverly Hills home – which killed their dog. After their multimillion-dollar settlement, insurance companies began excluding water damage and mold from coverage.
Lang said he wanted to create a service for residential property buyers prevent them going through the process of making an offer on a house, getting a loan, and only later finding out that they couldn't get insurance.
Des Toups is a writer, editor and expert on insurance, cars and personal finance. He has written extensively about all three for national publications such as MSN and major newspapers such as the Seattle Times. He has been quoted about insurance issues in The New York Times, USA Today and Kiplinger's. Follow him on Twitter @destoups.