Your mortgage lender will probably suggest getting a termite inspection before closing a real estate transaction. And rightfully so, because Subterranean termites are common in the area, banks are cautious about issuing a mortgage on a property that may have a termite issue.
More importantly, the standard Northern Virginia real estate sales contract mandates a termite inspection. All the more reasons to get it, right?
Why Should I Have A Termite Inspection?
Finding termites might be difficult until it is too late. Seven days a week, twenty-four hours a day, a colony of termites is active.
Along with the furniture, flooring, and personal belongings in your house, they might compromise its structural integrity and lead to ceiling and floor falls - the worst of worst nightmares.
Did you know termite damage to structures in the US really costs more annually than damage from floods, hurricanes, and fires combined. This already makes it very obvious how they do a great deal of damage to houses and structures.
The Need for an Inspection for Sellers
A suspected termite infestation might drastically reduce the value of a house you are selling. This is why, before you place your house on the Virginia market, you really need to get a termite inspection.
Getting a Termite Inspection Before Buying
Before you move into your new house, you really need to send in a home inspector to do a complete termite inspection before the real estate transaction.
This will not only assist you prevent any unanticipated expenses or damage but also over time maintain the safety of your property.
Getting a termite inspection becomes more important when you’re financing your purchase through a mortgage program. Reason? Before lending the money out to you, the lender will most likely ask you to get the home inspected for termites.
Fortunately, these inspections are not too costly, particularly considering the potential harm thousands of dollars might do should you neglect to check for termites before closing.
What To Expect?
When a termite inspector inspects a house, they will check the whole building, from the roof to the foundation. This inspection is quite different from a regular home inspection.
When done by a professional, termite checks usually take an hour. Your inspector will focus on window sills, baseboards, door frames, and wood flooring as these are the places most likely to have wood damage from termites. Homeowners and potential buyers don't have to do much during the review process.
Things To Confirm
Termites that are actively feeding usually show up in a piece of wood debris or a doorway to a crawl area. The inspector can easily spot them when the house is showing real signs of damage. The presence of these signs suggests an invasion that needs to be taken care of.
The termite expert should be asked to look for these signs. Make sure that there is an actual termite infestation and not just a few on the way. You should ask about what the termites are doing to the property and the scale of the damage.
Not only does this information help you deal with termites that are already there, but it can also help you keep them from coming back.
Who Covers the Inspection Costs?
Most jurisdictions and lenders let the seller cover the cost of termite inspections. The seller is liable for both past and current termite damage as well as for choosing pest control treatments.
Still, the buyer's intended home payment will determine how much an inspection costs.
For example, VA loans allow the buyer to pay for such termite inspections; FHA loans, on the other hand, urge the buyer to make extra investments should termites be discovered on the property.
Regarding the cost of termite and pest management, the seller has many possibilities. They could pay for the therapy via closing expenses, negotiate a reduced price, or pay for it upfront.
Should the buyer purchase a property after inspection and discover it to be termite and pest-free, they have responsibility for preventing infestations.
Before you close on your new house, make sure it is examined, treated, and repaired as homeowner's insurance does not cover termite damage.
Letter on Termite Terms
During the negotiation, someone purchasing or selling a home may have heard the word "termite letter" rather frequently. Termite letters, often referred to as Wood Destroying Organisations (WDO) reports or Wood Destroying Inspect (WDI) reports, are evidence that a termite-infested property has been searched for any indications of another bug that might compromise the construction.
The paperwork assures the buyer they are not purchasing a damaged dwelling. Additionally accelerating the sale for the seller is a termite letter.
The mortgage company really needs a WDI, or WDO, to ensure they don't lend money on a home that might be severely damaged.
Although it is not required during the purchase process, HIGHLY advised that you have a termite check done on the home. Should termites already exist in your residence, repairs will cost a lot of money. Better yet than regret is being safe!
Conclusion
We know how important a termite inspection can be before closing any real estate transaction. The next step is to find a company in Virginia to rely on for accurate and reliable inspections.
This is where Safe House Property Inspections come in.
We are here to protect you! Whether you are selling or purchasing, get in touch right now to make sure your property is protected.
Call us now to book your next inspection with Virginia's expert.
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