Should You Buy a Home With Termite Damage?
You may tour many homes before you find the one that is seemingly perfect for you in every way. It may have the ideal style, layout, price and location, and you may be excited to move into the space and start making it your own home. However, the unfortunate reality is that property condition is not always what it appears on the surface, and some home buyers will have the unfortunate experience of discovering that the house they have fallen in love with has termite damage. If you are in this position yourself, you may be wondering if you should continue on with your plans to purchase the property. There are several factors to consider before you finalize your decision.
Is There Active Infestation?
Through a termite inspection report, you can learn more about the level of infestation on the property. Active infestation generally requires immediate treatment, and some types of treatment may be expensive as well as burdensome to deal with from a convenience standpoint. Active infestation means that the damage to the property will continue to increase until treatment is completed, and it also means that the total cost to remedy the problem is higher. This is because you must pay for property damage repairs as well as treatment.
How Significant is the Problem?
The termite inspection report will indicate the areas that were previously or that are actively infested. It will show you if the termites have infiltrated and damaged only the exterior fence or other exterior structures or if the termites found their ways into the deeper areas of the home. An expert from Evergreen Pest & Termite says this can be a good indicator of how significant the problem is, but you should still get the opinion of a general contractor to estimate how much it will cost to repair the damage.
How Much is the Cost to Remedy the Situation?
When you are making your decision about whether to purchase the home, you understandably may be concerned about the condition of the property. Termites can cause severe damage in a very short period of time, and even when the termites are no longer present, the damage that they left behind can be extreme. Some people may not be comfortable purchasing a property that has been infested or damaged, and this is a personal decision. Others, however, may be concerned about the cost to remedy the situation. You may need to get quotes for treatment from both the pest company and a contractor to have all of the information you need.
Will the Buyers Pay for the Treatment and Repairs?
In addition, you should consider if the seller is willing to pay for any portion of the treatment or repairs. Your real estate agent can negotiate this matter with the seller’s agent and the seller. In many cases, the seller will pay for most or all of the treatment and repair work. However, in some cases, the work may be extensive, and thus may not be completed before the closing date.
As you can see, the decision about whether to purchase a property with termite damage is not an easy one to make. There are many factors that can be reviewed to help you make a more informed decision. Each case is unique, so take time to review the matter further before you finalize your decision.