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Old 03-20-2012, 09:00 PM
 
Location: North Atlanta
308 posts, read 1,033,670 times
Reputation: 69

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Hi all- Curious everyone's thoughts on buying a home. The home is in Roswell and built in early 70's and completely remodelled in mid 2000's. The home has not had any termite coverage in several years. The termite company says due to the renovations it is not eligible for a repair bond..only a re-treat bond.

Should we proceed with buying the home with just the re-treat option available? Could an insurance company come in and cover us? I believe there are a number of homes in GA with only a re-treat but not sure we want to be one!

Thanks!!!!!!!!!!!
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Old 03-20-2012, 09:15 PM
 
9,008 posts, read 13,962,159 times
Reputation: 7632
Don't know, but my inspector told me that there are only 2 kinds of houses in metro Atlanta: those that have had termites, and those that will get them.

I assume that the house has a termite letter indicating that it is currently free of termites. If I were you, I would call every single termite company and try to find someone willing to bond it. The line about not doing so because of renovations....I don't know, but sounds like a line of BS to me.

I think it goes against conventional wisdom to purchase a house without a termite bond. It would certainly be spinning the roulette wheel. Are you in a financial position to be able to repair termite damage?
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Old 03-20-2012, 09:24 PM
 
Location: North Atlanta
308 posts, read 1,033,670 times
Reputation: 69
Quote:
Originally Posted by ATLTJL View Post
Don't know, but my inspector told me that there are only 2 kinds of houses in metro Atlanta: those that have had termites, and those that will get them.

I assume that the house has a termite letter indicating that it is currently free of termites. If I were you, I would call every single termite company and try to find someone willing to bond it. The line about not doing so because of renovations....I don't know, but sounds like a line of BS to me.

I think it goes against conventional wisdom to purchase a house without a termite bond. It would certainly be spinning the roulette wheel. Are you in a financial position to be able to repair termite damage?
Nope. Basically, they cannot do a repair bond because they could not get access to over 50% of the house.
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Old 03-20-2012, 09:24 PM
 
9,008 posts, read 13,962,159 times
Reputation: 7632
I wouldn't touch it with a 10 foot pole.

But maybe some posters that have actual experience with this kind of thing can offer alternatives.
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Old 03-20-2012, 09:55 PM
 
Location: Atlanta
399 posts, read 694,978 times
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I bought a house without a termite bond but it was inspected and determined to be free of termites. But if you are buying a house that an company can't certify as termite-free, I would not buy it.
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Old 03-20-2012, 10:58 PM
 
2,530 posts, read 4,745,373 times
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I believe most homes in Atlanta are sold with retreat bonds and not repair bonds. Without googling the definition, I am assuming this means that they will retreat but not repair the damages.

I had the typical retreat bond but had recurring termite problems - the average home, termites are discovered before the damages are significant athough mine was at least $1,000. My termite company recommended I switch to the Sentricon System which is a repair bond. You should be able to make this switch at any time - Sentricon is offered by all major termite companies.

Sentricon is more expensive - this is where you see the green traps/barriers around the house that they inspect quarterly vs. the retreat bond where they inspect once a year.

That has been several years and I have not had any termite problems since. Just a reminder, with a retreat bond, your home is only free of termites at that point in time - it does not mean that it is free for the life of the home.

Termite Treatment | Termite Control | Termite Bait | Sentricon

Last edited by lorilove; 03-20-2012 at 11:00 PM.. Reason: Final comment
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Old 03-21-2012, 04:22 AM
 
4,862 posts, read 7,926,057 times
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Worst case scenario what if you later find out there is termites or termite damage? It might be a good idea to check with insurance companies or at least an agent now.

You might also want to ask the owners for a CLUE report. CLUE and You: How Insurers Size You Up | Privacy Rights Clearinghouse
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Old 03-21-2012, 04:05 PM
 
Location: Atlanta, GA
1,123 posts, read 6,514,196 times
Reputation: 569
Quote:
Originally Posted by ramblinwreck17 View Post
Hi all- Curious everyone's thoughts on buying a home. The home is in Roswell and built in early 70's and completely remodelled in mid 2000's. The home has not had any termite coverage in several years. The termite company says due to the renovations it is not eligible for a repair bond..only a re-treat bond.

Should we proceed with buying the home with just the re-treat option available? Could an insurance company come in and cover us? I believe there are a number of homes in GA with only a re-treat but not sure we want to be one!

Thanks!!!!!!!!!!!
I'm confused...so they can't inspect it and that's why they aren't offering the repair bond. I would not let this impact my decision anyways. I would probably drop $700-900 on a Termador perimeter chemical treatment from a company like Breda who uses thermal imaging cameras and acoustic technology to, in a sense, "see behind the walls" during their annual inspection. I personally would not use a bait system like Sentricon as they are not very effective and the logic behind the treatment is flawed.
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Old 03-21-2012, 04:15 PM
 
9,008 posts, read 13,962,159 times
Reputation: 7632
I'm super confused as to why they can't get access to over 50% of the house?

There should be access everywhere. I have the termite man come out and do my annual bond inspection, and all the does is look around the floorboards, walls, garage, etc. looking for signs of entry. How is the renovation such that they can't look for signs of termites?

It's not like they tear open the walls in any house. That's why I think you are being fed a line because they know something is up and they don't want to bond it because they know they will lose their behinds on it if they do.

If nobody is willing to bond it, I'd say there's a pretty good reason for that, and that reason is probably enough to warrant concern.

I have Sentricon. I don't know if it's effective or not, but I don't care because it enables me to have a bond. If it's not effective, it's the exterminator's problem because they are insuring me on the fact that it is effective and if it's not, they have to repair any damage. Effective or not, Sentricon allows you to transfer liability, and that's what you want to be able to do.
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Old 03-23-2012, 07:19 AM
 
454 posts, read 817,190 times
Reputation: 323
I actually stopped paying for the Sentricon termite coverage on my house. Basically these days they are a rip off if your house has a block/concrete basement and treated wood. The company I used said I can always come back and purchase a bond for about $800 if I need one in future years to sell.

A buddy owns a company then sells Sentricon and after a beer he will tell you he hasn't even got any coverage.

Most inspectors will tell you anything to make it look like their inspection adds value. They are a vested interest and noting more in most cases who took a few days class. Better to get a real builder to do an inspection often. I believe its even not required to have a bond anymore in GA and that tells you something.

Sentricon is just selling on fear just like "extra' insurance when you get a rental car. Same with a lot of the other rip off "add ons" you get pitched when buying a house.
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