REASON 2 why deals fall apart!
Why Deals Fall Apart: There are times when the seller may not be aware they currently have termites or even termite damage. For a first time buyer this can be alarming just hearing the word, termites. It’s important to educate yourself about what exactly they are and how you can treat them. Termites are white, ant-like critters that are very common across much of the country but we usually don’t see them because they typically live underground and can’t survive when exposed to light or air for long periods. In our area, I hear about evidence of past or present termite problems at probably 1/3 or more of the properties we show. Termites prefer living in wet soil and consume wood or cellulose for nourishment. They build hollow mud tubes along foundations, walls and other structures for concealment and protection when navigating between soil and the wood they are consuming. Their ability to exist without light or fresh air is what makes them capable of doing so much damage without being observed. Termites are often discovered before they do too much damage, but not always.
The challenge with termite damage is there are times when the full extent of damage can’t be known unless walls, floors and/or ceilings are removed where the evidence of termites exists, and neither home sellers nor homebuyers want to start tearing the house apart days before closing. Repairs to structural framing damaged by termites can be expensive, and trying to estimate or predict the costs of repairs without removing the finishes is impossible at times. Understandably, termite problems create much anxiety for homebuyers and can postpone a closing, or cause the buyer to terminate their purchase agreement altogether. There are options to treat termites with maintenance and warranties available to assure the buyer they’re protected. So don’t feel that you can’t move forward if you love the home, your Realtor and Inspector will advise you of your options and you could walk away to find the same thing at the next house. So do your homework!
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