What to do if termite damage is found during a home inspection
Buying a home is one significant investment, and when making this investment one step that you shall not miss is getting a home inspection. An inspection is what lets you have a closer look at your home’s condition, uncovering any potential issues that might need your attention.
There are various concerns that pop up when an inspector has a thorough look at the property, and termite damage is one of the most major ones. These intruders are surely tiny, but they’re also very destructive – leading to major issues in your home’s structure and causing extensive and costly damage.
The question that now arises is what should be your next steps when the inspector finds termite damage during a home inspection. In this blog, we’ll guide you about just that. We will talk about the different swift actions that you can take to navigate the challenge and effectively protect your investment.
Assessing the Damage
When there is termite damage identified by the inspector, then your next step should be figuring out how bad it is. For this, you need to determine how much of the wood these intruders have eaten up and if there’s a chance that these infestations will lead to something major, for example, structural damage. It might be difficult for you to assess the damage in one go, so better to get help from a professional.
Consult With A Professional
You can schedule a termite inspection after a home inspection to get a closer look at the problem. These professionals can then inspect the house carefully, specifically for termites, and look out for signs that might indicate whether the issue is a minor or major one.
You can also request estimates from these professionals that will allow you to understand the scope of damage and how much money it will need to fix the issue. Additionally, you can also reach out to pest control companies or termite specialists to thoroughly assess the situation. Getting the estimates won’t only give you financial clarity. In fact, it will also give you clarification once you’re negotiating the repairs or price with the seller. This way, you will be informed about what exactly you’re dealing with and ensure that the seller takes the necessary steps to deal with the issue.
Negotiate Repairs or Price Reduction
When you’re buying a home, any issue that is found could be translated into negotiation for price reduction or repairs. And once you find an issue like termite infestation, price reduction is definitely a must.
Depending on the extent of the damage, you may ask the seller to either carry on with the repairs or complete it before you’re set to move in. Or you can choose to get the repairs done by yourself and instead, you can ask the seller to reduce the selling price of the house. You may engage in open communication with the seller, and to back you up, you can present the estimates from the reuptake professionals. This will support you and let you stand firmly before the seller.
Remember to be polite with the seller, as you always have an option to back out of the deal. Both of you can collaborate accordingly and find a solution that addresses the signs of termite damage and damage itself – ensuring a fair outcome for both of you. This way, you can also move forward with confidence with your purchase, knowing that you know the fully transparent condition of your potential home.
Consider Termite Insurance or Warranty
This is a smart move that you can undertake to deal with the future hassle. You now know that your future home has undergone termite damage. There is a chance that it might happen in the future. So, it’s better to play smarter and protect yourself and the property from future infestation and potential damage.
You can get termite insurance for your property that will cover the cost of termite treatment and repairs that might result from future damage. Whereas, warranties may offer ongoing monitoring and preventative treatments.
Following are the steps that you can undertake to apply for termite insurance and warranty:
Research and Contact Providers
You can start by researching termite insurance providers. You can also search for companies that are offering warranties for termite protection. You may prioritize companies that have two of the main things:
- Positive reviews supporting their services
- Comprehensive coverage options for the damage
Once you have shortlisted the well-reputed ones, you need to contact them and ask them about their termite insurance or warranty plans. They must have different ways to contact them listed on their website. You can ask them about the coverage, deductibles, premiums, or any other terms and conditions.
Request Quotes
You can request different insurance providers for their quotes and compare their coverage and pricing. For this, you need to provide relevant information about your property, which may include:
- Its size
- Its location
- Any previous history of termite infestation or damage (which will be there for this case)
Review Policy Details and Choose A Plan
Make sure to carefully assess all the details provided by each provider. You must pay close attention to the following when assessing the details:
- Coverage limits
- Exclusions
- Renewal terms
- Any additional services offered, such as inspections or preventative treatments
Once you’ve researched and received quotes, you may proceed to select a termite insurance or warranty plan. You may consider your needs and budget when choosing a plan.
Proceed With Caution
Even if everything is sorted for you, you still need to be cautious when dealing with termite damage. Yes, termite damage itself is alarming but it’s equally important that you assess the situation before you make any decisions.
You may take time to gather relevant information references and consult with professionals. You may reach out to pest control experts and real estate advisors, too.
Additionally, consider the overall condition of the property and weigh how much repairs will cost against the property’s value. You shall also review the terms of your purchase agreement and any legal protections that are available to you. By proceeding with caution, you can make informed decisions that prioritize your financial well-being and the long-term integrity of the property.
If you’re looking for exceptional professionals to assess the condition of your property and conduct termite inspections, then look no further than Elite Commercial Inspections. We’re the experts in helping you make safe property decisions.
