Selling a House with Termite Damage
It can be difficult enough to sell your home without any significant problems, but if you have termite damage, the proposition just got a whole lot more complicated. Termite infestations cost Americans roughly five billion dollars per year in repairs and treatment. The cost of repairing damage depends largely upon the size of the infestation, the type of wood, and even the species of termite. On average, homeowners spend about $3,000 repairing the damage these insidious creatures cause.
The repair and treatment costs are just the beginning of the problem for sellers – buyers will often steer clear of a home with a history of this type of infestation, and not only is it unethical to hide it, but it’s usually considered fraud. Besides, an experienced inspector typically has no problem spotting signs of infestation, damage, or treatment.
If you do get a buyer who is interested in buying your house, they will probably request certain terms relating to the infestation. They will likely want documentation of treatment and inspection findings, and possibly a termite bond and service guarantee. It’s important that you retain all paperwork related to the problem. Be prepared to be fully upfront about the issue and all action that has been taken regarding it.
If you find yourself in a situation where your house is on the market with termite damage or an active infestation, you will probably encounter extreme wariness on the part of buyers, so you may have to consider an alternative plan in this event.