Evidence of Termites?
You found the perfect home, you have an executed contract and you are in the time of action of getting your loan on the home and you are having the home inspection. If you are getting a loan on the home then your lender will need to have the home inspected for termites. If there is evidence of termites the home will need to be treated in order for your lender to give a loan on the home. They will not loan on a home with evidence of termites that are untreated.
No reason to panic, most homes termites are found and treated before any real damage has been made. In some areas it is quite a shared component in many of the homes.
If there is currently evidence of termites in the home you may be wondering what now? If the home is owned and be sold by the homeowner without being a short sale then you will likely as the homeowner to have the home treated with a warranty against termites as part of your inspection repairs. This treatment can also be negotiated if the home is being sold as a lender owned character. Most lenders will have the home treated in order for you to pertain a loan on the home.
In the case of a short sale then this issue will be on your shoulders. The homeowner is selling the home at no cost to them so will likely not be assisting in treating the home for termites. First, see if the current homeowner has a warranty against termites because if they do then the company that the warranty is under will treat the character and you will be set to go.
If this is not the case then it will be up to you to get a pest control company to treat and warrant the character against termites prior to successfully obtaining your new loan. The cost of this treatment? This treatment will be several hundred dollars so shop around to find the best deal. Once you have the treatment done, get the documentation to your realtor and your lender so you can move forward.
Do not let evidence of termites scare you out of buying a home, this does not average the home is going to fall down around you as many people envision.
You should then be able to close on your new home and enjoy it for years to come. Do not let little issues scare you out of buying a home, just be aware of all things that show up on the inspection and get them taken care of either by the current homeowner or yourself once you own the home.