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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: fatty who wrote (18995)3/29/2004 4:05:07 PM
From: TradeliteRead Replies (1) of 306849
 
You seldom see an older home (like those where I live and where you live in Boston) without some previous termite damage. I've sold a bunch of them.

I don't think I have any in my own home, but that's only because mine is solid masonry/cinder block with a brick exterior, so the termites have nothing to eat that would be readily accessible to them from the soil outside. On the other hand, we have newer homes in the neighborhood that have been discovered to have major termite infestations which are hard to detect and often show up later when rooms, floors, walls are torn out to do renovations or expansion.

For homes on the market which have evidence of prior damage but no active infestation....the only answer for selling purposes is to repair/replace any damaged wood (easy to do), which in my area of the country is usually a responsibility of the seller before settlement.

To satisfy the lender, a reinspection must be done after the repair and a clean termite report must be provided by the buyer's inspector in order for the buyer to get the loan.

No reason not to buy a home with previous termite damage. This could depend on how extensive the damage is, of course. If it's just a few floor joists or wall studs or something else which is easily repaired (usually by nailing on "sister boards" to shore them up and make them sturdy), no problem. I've never seen a house which couldn't be easily repaired in a few spots, but then I haven't seen everything.
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