Welcome to our post Termite Inspections for Escrow – All The Info You Should Know!

Many inspections need to be to a home before a sale or purchase is agreed upon during the closing day. One of the most important inspections is the termite inspection. Housed are prone to pests such as termites, carpenter ants, beetles, and organisms that tend to cause rot, dry or wet.

Buyers typically ask for termite inspections during their buying process and want the seller of the house to address any issues if there are any that pop up.

Termite Inspections for Escrow

Sometimes it is mandatory to give the buyer a letter from a pest control company that states that the house does not have termites. Termite damages can sometimes be expensive and if there are any they must be repaired. The laws in each state varies, there are some states where the buyer pays for the pest inspection, but the seller of the house must take care of the problem up to a specific percentage of the amount.

Two things must be done when processing a termite inspection for escrow. Number one it must be completed as soon as possible. Number two one must find a company that has a good reputation with termite inspection for escrow. The seller or the listing agent typically handles the scheduling of the inspection and they must have the termite inspection results reported to the buyer no longer than seven days after the offer has been accepted. Getting it done early means time can be allotted for any treatments or repairs that must occur.

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The Federal Housing Administration requires that all work needed after the termite inspection for escrow is completely finished because the lenders can order loan documents. There are termite inspections for escrow companies available that can do the job quickly and do the repair within days depending on how much work needs to be done. Some wise sellers have gotten the termite inspection for escrow done before they list the house so they know how much the counter offer might be.

The seller usually picks the termite company or the realtor can recommend one. It is not advisable to just pick someone from the Yellow Pages. It is a good idea to pick a termite inspections company that has a good reputation via word of mouth. There have been many instances where termite inspection companies have not worked out for sellers so make sure you pick a good one. The termite inspections for escrow process can sometimes cost the seller lots of money so that is why it is important to pick the right company.

There is a Section 1 result or a Section 2 result of the addendum. Usually the seller pays for Section 1 items. The buyers most of the time pay for Section 2 items. Section 2 are problems that have been caused by previous infestations. They can also be treatments that are recommended, but not necessary right at this minute.

Conclusion

Termite Inspections for Escrow can be a daunting task so make sure you do it early, hire the right contractors, and get everything repaired as soon as possible. It is wise to get the inspection done before listing so that one can learn about the prices that must be paid for repair and what is the price of the counter offer that can be made by the buyer. A termite inspection for escrow company that has been suggested via word of mouth is preferable to someone that has been picked from the Yellow Pages.