Termite damage - who pays for it?
This is a popular question we receive all the time. The short answer is… it is all negotiable.
Most typically a seller will already have or will perform a termite inspection before escrow is opened or at the start of the escrow process. This usually cost less the $100. Now, what most people do not know is termite is not just limited to termites. A termite inspection also encompasses wood rot, dry rot and fungus damage.
We have seen termite report findings as little as zero dollars in damage (clear), or as high as $20,000. Now depending upon your loan program it may be required that in order to close the transaction the property has to be certified free and clear of any wood pest destroying organisms. In any case whether it is required or not it is 100% negotiable upon who pays for the correction (with the exception of a buyer with a VA loan). Most commonly it is the responsibility of the seller.
If you have any questions or would like to consult our certified pest inspection company that we recommend, you can CLICK HERE
Post a Comment