Termite Report for the Sale of a Home
It’s a dream come true to buy your very own home. Maybe, you even made a lot of sacrifices to put together enough money to purchase a modest house, worth around $200,000. But, do you know that all those sacrifices and anticipation will go for nothing if the dream house you just bought is later discovered with extensive termite damage? The market value of any house with termite infestation is worth a lot less. So, to avoid big disappointments and financial losses in the long term, make it possible to have a thorough inspection, which should include a termite report for the sale of a home, before you sign the sale contract or purchase agreement.
You can easily find a home inspector or, better yet and to be sure about it, get the services of a professional termite inspector in your area. There’s always one near you, particularly if you’re looking for a termite control company in Scottsdale, Az. If you are purchasing a house through institutional lenders, they do require termite inspections. This is fair enough since these lenders need to protect their investments. If termite infestation is found in a house, this will devalue its amount to a large extent.
Termite inspectors provide a comprehensive report for you. On the other hand, you, as the buyer, will be requested by your lender to submit a copy of this report to them. Upon inspection, there are three scenarios to be covered. The first situation is the “no evidence”, which means you have practically a go signal to buy that house—soon! It also means that there is no trace of termite infestation or damage in the house. The inspector will note that finding in the report and other relevant comments.
The second scenario is what any seller gets nervous about: the “evidence of damage” finding. This means that the inspector found evidence of termite damage but it is not necessarily a “live” or active infestation. If this is the case, you can request the termite inspector to issue a one-year guarantee against active infestation, to be included in the official report.
For the third scenario, and this is the worse situation among the three, the termite inspector discovers active infestation in and around the house. However, this isn’t bad as it may sound. A Contract of Sale or Purchase Agreement gives you enough leeway to renegotiate terms. The house seller might agree to shoulder all the expenses of repair. In other cases, since there is evidence of active termite infestation, the seller might even lower the purchase price.
It is important that you protect yourself from unnecessary risks, not just from loss of investment, but also from the stress of repairing and salvaging a termite damaged home. Hire a professional termite inspector to help you out.
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