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Unfortunately, most companies do not sell termite insurance policies. If the home has termite damage that is not covered by homeowners insurance, an exterminator will need to assess the situation ...
Frass (termite droppings): Subterranean termites push out their waste, known as frass, through small holes in the infested wood. It looks like tiny pellets and can accumulate below the infested area.
Inspection fees, usually paid by the buyer [3] (although occasionally by the seller), charged by licensed home, pest, or other inspectors. Some lenders require inspections (such as termite inspection) to verify that the property is in good condition, which is necessary to assure that the property will retain the necessary collateral value to ...
In 1955, Terminix was the first company to offer a termite protection contract, with annual inspections and a guarantee. In 1957, franchisees began offering residential and commercial pest control services. [1] In 1968, the E. L. Bruce Company, including Bruce Terminix, was sold to Cook Industries.
Thus, the lender commonly requires title service including title search and title insurance by an independent title company, appraisal and termite inspection of the property to ensure it has sufficient value, a land survey to ensure there are no encroachments, and use of lawyers to ensure the closing is done correctly.
Once you understand why a home might fail inspection, you can better formulate a repair plan. Here are 15 common things that may come up and what you can do to address the issues.
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