Selling a House with a Termite Infestation? Here Are Your Options
Termites are never good news, especially for people trying to sell their property. There are termite treatment options like fumigation termite control and non-fumigation termite control, but these take time and money. Termite damage repair is costly; thus, most people avoid buying houses with a termite infestation. But there is still hope left. Know your options for selling a home with an active (or a history of) termite infestation.
Active Termite Infestation vs. History of Termite Infestation
The first and most important thing to note is whether you have an active infestation or a history of termite infestation.
Active termite infestation in a house means that the property has termite activity at the present moment. A place with a 'history of termite infestation' refers to a property that had a termite infestation in the past.
It is important to reveal the current status of termite activity in your property to your prospective buyer. As mentioned already, the interest on the property reduces if there is an active termite infestation. Hence, treating the property before listing the house for sale is best.
A licensed termite control expert can identify the signs of termite activity on your property and suggest appropriate treatment. You can get the help of qualified termite inspectors to get a written statement for the damage that has been repaired. You can use this as documentation for the history of termite activity on your property.
Also Read: How Termites Affect Your Home's Value
How to Sell a Home with a Termite Infestation?
Selling a house with an active or a history of termite infestation is indeed a challenge but not an impossible task. You should know your options and make an informed choice, and here are some tips that can make the process easier for you.
1. Selling a Property with an Active Termite Infestation
An active termite infestation always makes the buyers hesitate since repair costs can be high. It depends on the extent of the termite damage.
For example, a house with a termite infestation in the garden tends to sell faster than a house with structural damage.
There are two options for selling a home with an active termite infestation.
Get the Repair Done or Pay for the Damage
The first step would be to schedule a termite inspection before selling the house. With the help of a termite inspector, get to know the extent of the damage and the repair cost.
This is better if done by the homeowner than the buyer after negotiating the contract. Finding termite infestation after negotiating a contract can even be considered fraud. You should clearly disclose all information about termite activity on your property and the history of past infestations and repairs.
Some states require the owner to disclose all information about the termite damage and repairs, but even if there is no law in your state, it is better to disclose it.
Hence, if you are considering selling the house, contact the termite control company before you go to the realtor.
Once you are aware of the damage, the next step would be to repair it. Find a professional termite control company and get the job done. If you are not doing the repairs, agree with the buyer to pay for the repairs.
After repairs, make sure you use proper preventive termite control measures to save the home from future infestations.
You can even ask for a warranty for the termite treatment from the termite control company. This increases the interest in your property when it is on sale.
Selling the Home in the Original State to the Cash Buyer
A cash buyer is the best choice if you intend to sell your home without doing termite repairs. You won't have to list the house in multiple listing services (MLS) since many cash buyer options are available.
There won't be a need to host an open house, so you can skip cleaning and readying the home for the buyers.
You must fully disclose the termite activity and termite repair details to the buyer. Since you are selling the home with termite activity, you might have to give a discount on the price of the property and deal with some price negotiations.
Also Read: Should You Get a Termite Treatment Done Before Moving into a New House?
2. Selling a Home with Past Termite Activity
Termite activity and damage do not stop a house from fetching a reasonable price in the market. All that matters is the extent of damage and how well the homeowner has handled it.
Since termites are prevalent all over the country, people usually do not mind a home with a termite infestation history. Still, the deal breaker would be termite damage repair.
Structural damages are expensive to repair; thus, some homeowners wouldn't have done a great job. In that case, the buyers may hesitate. But a house with moderate termite damage promptly found and well repaired with protection from future infestations fetches a special price in the market.
HiTech Termite Control
The longer the period of termite infestation, the harder it becomes to eliminate it. Do not skip your regular termite inspection and repair the termite damages immediately. Contact us for a free inspection.
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