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Old 03-29-2016, 11:21 AM
 
Location: Raleigh, NC
6,005 posts, read 4,301,759 times
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I got a home inspection done last week and they found active termites as well as termite damage to wood floor structure and sill plate underneath the rear deck and kitchen. According to the HOA budget provided to me by the president (HOA is self-managed), they have a line item for a yearly termite inspection. I get that termites are very common here but is it possible that there could be active termites that cause actual wood damage even with the yearly termite inspections? Just out of curiosity and what other people's experiences have been. The sellers were owning this property as an investment property so they probably didn't care about the overall upkeep but does this say anything about the HOA?
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Old 03-29-2016, 11:28 AM
 
Location: Cary, NC
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Sounds like the HOA contracts as cheap as possible for annual inspections, and someone dropped the ball for years.
You hardly get significant damage in less than a couple or years.
IIRC, a colony will eat less than 1 eight foot 2x4 in a year.


May not be the HOA. It may be the company that does the inspections could be pencil-whipping their reports.
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Old 03-29-2016, 11:35 AM
 
Location: Raleigh, NC
6,005 posts, read 4,301,759 times
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Quote:
Originally Posted by MikeJaquish View Post
Sounds like the HOA contracts as cheap as possible for annual inspections, and someone dropped the ball for years.
You hardly get significant damage in less than a couple or years.
IIRC, a colony will eat less than 1 eight foot 2x4 in a year.


May not be the HOA. It may be the company that does the inspections could be pencil-whipping their reports.
They've got $1200 budgeted for 24 townhouses (each about 900 sq ft) each year and it says that the last date of service was October 2015.

I guess worst comes to worst, I could also get my own inspections/treatments done - but I'm just worried that if my neighbors have problems etc...., I could still be affected.
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Old 03-29-2016, 11:44 AM
 
Location: Cary, NC
39,018 posts, read 67,577,975 times
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Quote:
Originally Posted by pierretong1991 View Post
They've got $1200 budgeted for 24 townhouses (each about 900 sq ft) each year and it says that the last date of service was October 2015.

I guess worst comes to worst, I could also get my own inspections/treatments done - but I'm just worried that if my neighbors have problems etc...., I could still be affected.
Do they have a repair bond from the pest control company?
Or, is the HOA going to make repairs?
Or, is this just an annual fee for an inspection and the property owner is left holding the bag?
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Old 03-29-2016, 11:47 AM
 
Location: Raleigh, NC
6,005 posts, read 4,301,759 times
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Quote:
Originally Posted by MikeJaquish View Post
Do they have a repair bond from the pest control company?
Or, is the HOA going to make repairs?
Or, is this just an annual fee for an inspection and the property owner is left holding the bag?
Good questions! I'm going to ask around and see if I can get an answer. Thanks!
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Old 04-07-2016, 07:30 PM
 
Location: Raleigh, NC
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So it's been a week later and I still have zero answers from the HOA. I have asked my agent to look into it and I trust that she's doing that because she's been very responsive with other issues. I asked her the other day and she said the HOA was looking into it but wasn't sure of anything else beyond that. I don't have the greatest impression so far of how the HOA is managing things (it's self-managed and apparently none of the board members actually live there, they own the properties as investments....) - my due diligence period is up in a few days. Do you think a potential sign of a bad HOA is a good reason to back out of the deal?
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Old 04-09-2016, 01:43 PM
 
Location: Near Falls Lake
3,540 posts, read 2,479,259 times
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Quote:
Originally Posted by pierretong1991 View Post
So it's been a week later and I still have zero answers from the HOA. I have asked my agent to look into it and I trust that she's doing that because she's been very responsive with other issues. I asked her the other day and she said the HOA was looking into it but wasn't sure of anything else beyond that. I don't have the greatest impression so far of how the HOA is managing things (it's self-managed and apparently none of the board members actually live there, they own the properties as investments....) - my due diligence period is up in a few days. Do you think a potential sign of a bad HOA is a good reason to back out of the deal?

I think this process is telling you something very important about the HOA. They should know the answers to the questions! A bad HOA can be a nightmare!
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Old 04-09-2016, 07:52 PM
 
2,834 posts, read 2,931,953 times
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This entire situation is a good reason to back out of the deal and during due diligence, you do not need a reason to back out.
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Old 04-10-2016, 12:09 AM
 
Location: Raleigh, NC
6,005 posts, read 4,301,759 times
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Well my agent finally got in touch with the HOA president - he was out of town on a work trip for 2 weeks (apparently). They're going to treat the unit on Tuesday and going to get documentation from last years termite checks (in October)

There is a termite bond in place - what exactly does that mean?
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Old 04-10-2016, 07:45 AM
 
Location: Raleigh, NC
12,456 posts, read 30,348,364 times
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The termite bond is a good thing. It means that any damage will be taken care of by the termite company.

The HOA pays a termite company to do a yearly inspection, from the funds the homeowners pay. Unfortunately, it has been my experience that the termite company does NOT do a thorough inspection on EVERY TOWNHOME.

I've had some buyers that think since the HOA has a termite company do a yearly inspection AND covers any damage done, that they don't need a termite inspection when buying. I have to explain this same thing...that termite company just isn't doing a good enough inspection on every townhome, whether there are 24 or 124.

Glad you got the inspection!
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