As a pest control company that does termite inspections in Temecula, Knockout Pest Control can tell you that the vast majority of termite inspections are connected to real estate transactions. But there is a lot you may not know about termite inspections when it comes to buying and selling a home in Temecula.
First of all, the term “termite inspection” is somewhat misleading. A typical termite inspection for real estate transaction purposes covers a lot more than just termites. During an inspection, a Temecula termite inspector will also look for things like wood boring beetles, fungus, water damage, and dry rot. That’s why a more accurate name would be “wood destroying organism inspection,” but that’s kind of a mouthful, so most people just go with the more common phrase, “termite inspection.”
A Temecula pest control company serves as an unbiased third party in termite inspections for real estate transactions. They produce a Wood Destroying Organism Report (or WDO report) that both the buyers and sellers, as well as the lender and insurance company, typically see.
Are Termite Inspections Required in Temecula for a House Sale?
Many people assume that the state of California or local municipalities are the ones that require termite inspections for real estate transactions, but this isn’t the case (although the state is the entity that licenses termite inspectors). It’s typically the mortgage lender that requires a termite inspection before they will agree to fund the loan. They want to make sure that the home is sound—free from any structural damage or organisms that could cause major damage in the future. If you are paying cash for a home, you technically don’t need to have a termite inspection done in Temecula, but you should get one anyway.
Who Pays for a Termite Inspection in a Real Estate Transaction?
Typically, the seller will pay for the termite inspection, as well as take care of any pressing issues that were revealed during the inspection. If the seller is not offering to pay for the termite inspection, many home buyers will pay for it on their own, just so they know what they are getting into with the home purchase.
Is There Ever a Case When a Buyer Should Waive the Right to a Termite Inspection?
When it’s a true seller’s market, and a buyer is desperate to get into a home, the buyer will sometimes waive the termite inspection in an attempt to get the seller to approve their offer over those of other potential buyers. This is not recommended. A house with an active termite infestation, fungus, or dry rot can lead to some very expensive repairs down the road.
As a buyer, you want to be well aware of the state of the home you are purchasing, since for most people this is one of the largest investments they will make. The last thing you want is to end up with a money pit because you didn’t do your due diligence as a buyer. The cost of a termite inspection in Temecula is very small in comparison to the investment you are making in a house. This is not the place to pinch pennies, and it’s also not something you want to negotiate away in the buying process.
If you are in the process of buying or selling a home, getting a termite inspection from a qualified termite inspection company in Temecula is critical.