Real Estate Tips from Bob Rich-Termite Inspection

One of the most common aspects of any real estate sale is the requirement for a termite inspection and clearance, which is normally paid for by the seller.
Although many lenders require them, an inspection is usually not required by law at the point of sale. Many times buyers will request a termite inspection as part of the terms in order to find out the condition of the home in relation to water damage and infestation of the wood by termites. A buyer may want this because he may be asked to get a termite clearance in the future at the time of resale, and any damage not corrected early may lead to additional costs at a later date.
A termite inspection can be waived by the lender, buyer or both, even though it is written into a sales contract, and sometimes that is done in the course of the transaction if the parties involved can agree.

Contact The Rich Company to make your real estate experience a good one.