U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Alabama > Huntsville-Madison-Decatur area
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 03-29-2010, 05:06 PM
 
342 posts, read 558,753 times
Reputation: 161

Advertisements

When it comes time to sell my house in the near future, will having a termite bond make my home more valuable?

I'm contemplating cutting out the termite bond this year. It is $175/yr now and it came with my brand new house a few years ago. Just not sure if its worth it if nobody cares when they buy my house.
Reply With Quote Quick reply to this message

 
Old 03-29-2010, 05:28 PM
 
454 posts, read 527,190 times
Reputation: 169
Termite bonds can be a plus, but in all honesty, I've never seen a deal made or lost strictly because of whether or not there was one on the property. It comes down to this. If a buyer wants one, they'll get it on their own or ask you to buy the first year for them. Don't get me wrong, a bond is definitely worth the money, but I doubt not having one will affect the sale of it.

The buyer will be more concerned as to whether or not there is any evidence of previous/current infestation, but that will be found out when a termite letter is provided.
Reply With Quote Quick reply to this message
 
Old 03-29-2010, 05:53 PM
 
Location: In the land of cotton
4,585 posts, read 2,416,994 times
Reputation: 9901
I wouldn't buy a house without a valid "termite damage repair bond" as it is quite expensive to get one after the fact. Some sellers claim they have a "termite bond" but what they have is a guarantee from the issuer that the termite infestation will be eliminated - not that the resulting damage will be repaired at no cost to the owner.
Reply With Quote Quick reply to this message
 
Old 03-29-2010, 06:29 PM
 
342 posts, read 558,753 times
Reputation: 161
Quote:
Originally Posted by Dirt Grinder View Post
I wouldn't buy a house without a valid "termite damage repair bond" as it is quite expensive to get one after the fact. Some sellers claim they have a "termite bond" but what they have is a guarantee from the issuer that the termite infestation will be eliminated - not that the resulting damage will be repaired at no cost to the owner.
This is what I have, and I think its quite expensive to start one from scratch. The problem is I don't think buyers will really value this add on enough for me to continue the expense.

I am just having a hard time justifying $175 for 'peace of mind'. I hate insurance.
Reply With Quote Quick reply to this message
 
Old 03-29-2010, 07:16 PM
 
Location: Madison, AL
2,050 posts, read 1,962,949 times
Reputation: 1336
Actually, it really depends on the type of bond you have. There are some that just cover the cost of treatment of any infestations, but do not cover any damage to the property as a result of termites. These are basically useless in my opinion. If you have a repair/replacement bond, I would continue my service because those are quite costly to start up and they do have a good deal of value to buyers these days. A repair/replacement bond will cover all repairs required due to termite damage, and treatment of the infestation. We live in an area with a HUGE problem with termites. I would not look at it from a resale point of view, I would look at it as protecting your investment. Check and see what kind of bond you have.


Termites can do ALOT of damage, sometimes damage that cannot be readily seen. Bonds give peace of mind to homebuyers that, should damage occur, they are covered. I sold a few houses last year that had some pretty extensive termite damage but both sellers were covered with repair bonds, so all the damage was repaired satisfactorily and the buyers were happy since they had a bond conveying with the property.
Reply With Quote Quick reply to this message
 
Old 07-02-2010, 08:26 AM
 
1 posts, read 7,508 times
Reputation: 10
company won't honor retreatment guarantee
Reply With Quote Quick reply to this message
 
Old 07-02-2010, 08:41 AM
 
Location: Huntsville, Alabama
339 posts, read 771,815 times
Reputation: 93
I would not go without termite bond in the south any more than I'd go without anti-freeze in a Montana winter. In Florida I had a termite bond, and sure enough when I sold my house the buyers inspector found some damage that the bond took care of. Here I happily write a $125 every year.
Reply With Quote Quick reply to this message
 
Old 07-02-2010, 09:55 AM
 
Location: Alabama!
5,023 posts, read 10,875,907 times
Reputation: 2725
The bank or mortgage company may require an active termite bond as a condition of financing.
Reply With Quote Quick reply to this message
 
Old 07-02-2010, 12:43 PM
 
Location: Madison, AL
2,050 posts, read 1,962,949 times
Reputation: 1336
Lenders do not require termite bonds, but they will require a clean termite letter regardless of the type of loan. Even the most regulated of goverment loans (FHA, VA, USDA, ect) do not require termite bonds on the property.
Reply With Quote Quick reply to this message
 
Old 07-02-2010, 12:54 PM
 
25,241 posts, read 27,352,041 times
Reputation: 34479
Quote:
Originally Posted by E Limestone Dude View Post
When it comes time to sell my house in the near future, will having a termite bond make my home more valuable?

I'm contemplating cutting out the termite bond this year. It is $175/yr now and it came with my brand new house a few years ago. Just not sure if its worth it if nobody cares when they buy my house.
Penny wise and pound foolish. I would under no circumstance stop paying the termite bond on my house.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram


Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Alabama > Huntsville-Madison-Decatur area
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top