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Old 03-19-2012, 08:58 PM
 
418 posts, read 1,321,289 times
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Buyer or Seller?
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Old 03-19-2012, 09:10 PM
 
56 posts, read 123,837 times
Reputation: 25
I believe the seller because the bank will not give you the loan until that has been resolved. But this is after the buyer has made an offer and is in contract to buy. Others feel free to chime in..
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Old 03-19-2012, 09:18 PM
 
418 posts, read 1,321,289 times
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Okay, a closer look at the contract says that the seller needs to pay for it. Duh. Is there a cap on how much the seller is expected to shell out to fix this? And if we were not inclined to pay all of it, can we back out of the contract?
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Old 03-19-2012, 09:27 PM
 
Location: Chapel Hill, NC, formerly DC and Phila
8,569 posts, read 12,665,533 times
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As long as there are inspection contingencies in your contract, you should be able to back out of the deal if there are termites and they are not willing to pay to fix. Termite inspections are inexpensive - about $75 I believe. We just had one on our new house.
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Old 03-19-2012, 10:07 PM
 
Location: Aldie, VA
199 posts, read 603,132 times
Reputation: 92
You are the seller right? If you are the seller and you don't want to pay for repairs, then I think it's really the buyer in the driver seat. They can either walk away, pay for everything themselves, or negotiate somewhere in the middle with you. Check with your insurance company and see what they cover. Chances are if you have termites, you will have a hard time selling.

If a house I was buying had termites, I would probably walk away...I've never had to deal with termites, so I have no idea what it costs to repair. I'm guessing you can't really tell the extent of the damage without doing some more damage to the house though.
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Old 03-20-2012, 02:39 PM
 
2,675 posts, read 4,534,236 times
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If you are the seller, you will probably have to have the damage repaired for any prospective buyer, so I would go ahead and fix it. Unless the house is a total fixer, buyers aren't expecting that major termite damage is part of the deal, so their offer/accepted price probably did not allow for that. and they will expect the seller to make the repairs.
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Old 03-20-2012, 02:55 PM
 
Location: Northern Virginia
4,489 posts, read 9,576,988 times
Reputation: 3656
Quote:
Originally Posted by gammann View Post
If a house I was buying had termites, I would probably walk away...I've never had to deal with termites, so I have no idea what it costs to repair. I'm guessing you can't really tell the extent of the damage without doing some more damage to the house though.
I grew up in Southern California, where termites are fairly prevalent. In general, unless there's a ton of structural damage (rare), it's just tenting the house. You have to leave for a few days, they put the circus tent over your house, and you come back. It's a common sight in Santa Barbara
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Old 03-20-2012, 03:26 PM
 
262 posts, read 759,310 times
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In the grand scheme of things, termite inspection is not costly, and I would prefer to choose my own termite inspector and feel more comfortable that he has my best interests (not seller's) in mind when he walks through inspection with me.
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Old 03-21-2012, 06:54 AM
 
Location: Sterling, VA
1,059 posts, read 2,627,667 times
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The contract allows for either the buyer or seller to pay for the inspection itself, about $35. I always have my buyers pay for the inspection so we know it has been done on time and does not come as a surprise at the last minute. However, the contract clearly states that the extermination and any repairs are the responsibility of the seller. If you, as the seller, do not comply with the contract the buyer can legally refuse to settle. This is all very clearly stated in the contract, I am surprised at your question.
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Old 01-08-2013, 04:00 AM
 
88 posts, read 239,834 times
Reputation: 51
Does anyone have a recommendation for a termite inspection company?
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