TERMITE INSPECTIONS or TERMITE WARRANTY? WHICH IS GOING TO GIVE A HOME OWNER MORE PROTECTION?
THE TERMITE WARRANTY IS DESIGNED TO LULL HOME OWNERS INTO A FALSE SENSE OF SECURITY.
DON'T RELY ON THAT TERMITE WARRANTY. . .
HOMEOWNERS: THERE IS ONLY ONE WAY TO PROTECT YOUR PROPERTY FROM WOOD BORING INSECTS. HAVE IT INSPECTED BY A LICENSED PEST CONTROL COMPANY EACH AND EVERY YEAR.
AGENTS: DON'T RELY ON THE TERMITE WARRANTY. MAKE SURE THE CONTRACT OF SALE PROVIDES FOR A TERMITE INSPECTION AND REMEDIES IF AN INFESTATION IS DISCOVERED.
This post demonstrates why I have, for many years, encouraged my home buyers to have a termite inspection for their valuable real estate holdings each and every year. Over the years serving home buyers in Maryland and Northern Virginia, I've witnessed numerous cases whereby the home was "under warranty", yet, when a termite inspection was performed for the buyers, termite infestation was found.
- FACT: Termite inspections are quite inexpensive.
- FACT: Termite treatments are quite expensive.
Don't rely on termite warranties sold at great profit for termite inspection companies and that do little to nothing to protect a property from the ravages of a hungry colony of termites or other wood destroying insects.
TERMITES CANNOT READ!
Alert! There is a colony of termites under each and every home in MD and Northern Virginia just waiting for lunch served on a moist slab of wood.
WHAT'S IT GOING TO COST?? A lot less than dinner out for two in a modest priced neighborhood restaurant. Termite inspections in Maryland and Northern Virginia are about $35-$100 depending on location and size of the property.
EXPERIENCE IS A GOOD TEACHER.
ESPERIENCE #1: We recently visited a home owner who requested that one of the brokers in my network list their property for sale. One of my questions was:
- Lenn, "When did you last have the house inspected for termites?"
- Homeowner, "We have a termite warranty."
- Lenn, "When was the house last inspected?"
- Homeowner, "Seven years ago when we purchased, but we have a warranty."
Implicit in the homeowner's statement was that he believed the warranty protected his home from termite infestation. Not so. This particular warranty provided for a FREE annual termite inspection IF THE HOME OWNER SCHEDULED THE INSPECTION, which the homeowner clearly had not done. The warranty was, at this point, worthless.
The termite treatment for this home, a luxury red cedar log constructed home, was $17,000. Even a home owner with a home of wood log construction was lulled into a false sense of security by the warranty.
EXPERIENCE #2: A real estate agent failed to attend a termite inspection and when the termite report was received documenting a serious infestation, the seller refused to permit further inspection by a contractor or to admit the termite inspector for further evaluation.
Our Contract of Sale (MD) limits the liability for the seller for termite treatment to 2% of the purchase price. In this case, the estimated cost of repair by the buyer's termite inspector exceeded that amount. Since the Buyer's Agent was not present during the termite inspection, there was no opportunity to get photos or further evaluate the cost of repair. The seller and the seller's agent refused to cooperate in any manner to proceed other than to insist that the buyer take the house "as is". The buyer obtained the services of an attorney to assist in obtaining a release of the earnest money. Cost of the attorney, $1,500 paid for by the agent who failed to attend the termite inspection.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988. Serving home buyers in Maryland and Northern Virginia.
Want to learn more about Loudoun County, VA? Join Loudoun County, VA on Facebook!