Termite Inspections for Home Buying 

Termite inspections for home buying are an important part of the process and are something buyers should never forego when they are getting set to buy a house. Sometimes buyers get termite inspections on homes before they even sign purchase agreements. Sometimes they even get the sellers to pay for the inspection. But more often than not, this inspection comes in after that agreement has already been signed. Generally the responsibility to pay for inspection is that of the buyer unless the seller is compelled to pay the cost for one reason or another.

Reasons to Get Termite Inspection

There are numerous reasons to get an inspection service in there and take a look at the home. First of all, institutional lenders typically require termite inspections for evidence of termites before they will release funds for a home purchase. Both the buyer and the mortgage company are at risk when it comes to the threat of termites in a newly purchased home because of the way this pest shatters home values. To eliminate at least this specific financial risk, get the inspection and know for sure one way or the other. In some cases infestation is a red flag and you should get out of the purchase agreement. And in other cases it might just be a bargaining chip or something you'll want the seller to take care of before the purchase goes through.

The majority of homes do not have issues with termites, but a larger number of houses do than what many people realize. Both drywood and subterranean termites are capable of creating tremendous structural damage even before there is a single bit of visible evidence of their presence. They are elusive and sneaky, attributes that make them very hard to detect.

Many home purchase agreements are contingent upon the results of termite inspection, which means the buyer can back out if infestation is discovered. A termite report will include information about any past or present damage, but will also feature the inspector's observations on future threats. Maybe the seller keeps the firewood piled up against the wall of the house. Or perhaps there are ready access points in the foundation in need of repair to avoid future problems. Usually the buyer has a short window of time to get this inspection completed and get the termite report back. Access to the home can usually be arranged with a real estate broker to allow the inspector to get in the home and get around the property unimpeded.

Possible Results of Termite Inspection

Basically, there are three possible outcomes for termite inspections for home buying. The first and the one that both buyer and sellers are hoping for is: that there is no infestation detected and no signs of damage past or present. Clearly, this outcome is the best case scenario, and it often works out this way. When this is the case, a copy of the termite report is usually furnished to the lender and anyone else who might need one and the purchase goes on according to plan.

The second possibility is that evidence of damage is found but no sign of active infestation. In this case, the seller will usually have to pay to have the damage repaired and may also have to get the inspector to issue a one year guaranty against active infestation. This type of guaranty is required of many lenders when evidence of damage is found like this, without present signs of infestation.

The third possibility is active infestation, which requires professional termite control and which may end up also causing the buyer to walk.