Welcome back to our special- “Buying in the Spring Market!’ All about getting the home of your dreams – in the hottest, fastest and most competitive real estate market of the year.
We talk a lot here on the show, about the team you’ll need to buy a house. The REALTOR®. The lender. The appraiser. The home inspector, the title attorney and more.
But right now, we’re going to talk about one of the most important members of your team…who frankly? Gets no respect. The Rodney Dangerfield of real estate.
Seriously. I mean think about it. If you buy a house – and someone asks how it went. You might say – it went great! I have the BEST REALTOR®! Or maybe – It went great! I have the best lender!
But – have you ever said – it went great! I have the BEST termite inspector!
No? Didn’t think so.
Yep. Termite inspectors get none of the fame, none of the glory. Even though they are incredibly important to virtually every real estate deal in America.
Consider this. The National Pest Management Association reports that termites cause 5 billion dollars in damage every year. That’s billion with a b.
The reason is, of course, they eat wood! So if your house is 100% concrete – or 100% brick – you’re OK! But most houses have wood framing throughout…even if there’s a brick exterior.
The pest control company Terminix says that if one termite – just one – started eating the wood in your house, it would take it more than 3,000 years to bring that house down. But of course, termites don’t act alone. They live in colonies. And some colonies have up to 15 – million termites in them! So yes, they’re trouble. BIG trouble.
So big, most lenders will not grant a mortgage – without a termite inspection. And if that inspection finds evidence of termites and termite damage – the lenders require the problem to be fixed before the buyer moves in.
Without that termite inspection…the lender could be loaning hundreds of thousands of dollars on a house that’s not sound. And the buyer could be faced with a huge repair bill – one that should be the seller’s responsibility.
It is a serious issue…which is why a professional termite inspector needs to be a part of your real estate dream team.
They will go to the property, and examine every part of it – searching for evidence of termites, and termite damage. If they don’t find any – great! They will then treat the property with pesticides, to make sure the termites don’t come in.
If the DO find them – they’ll exterminate the colony, and advise you on what is damaged – and how it needs to be repaired. And after those repairs are done, they’ll treat the property to make sure they don’t come back – and when it’s all done? They’ll set up a schedule to come back and treat the palec on a regular basis…and finally, they guarantee their work.
Now – who pays for the inspection? Well, in some areas the seller does, in other areas, the buyer does. But if there’s damage…it’s negotiable.
So there you go. The termite inspector performs an absolutely essential role in making sure your real estate transaction stays on track.
So they might not get much respect – but this member of your real estate dream can make the difference between a dream transaction and a nightmare – if you’re buying in the Spring Market!