If you are lucky to buy a new home that might be a castle for you, a termite inspection is essential for homeownership. If you are in the real estate business, you may come across the terms such as “termite letter.” It is also known as the “wood destroying organisms report.” Termite bonds can save time and expedite the sale.
So, what exactly is a wood destroying organisms report?
Let us find out!
What is a wood destroying organisms report?
The termite letters are more of a report than a letter. If you are involved in buying or selling houses, it has to be inspected by a licensed professional termite expert.
These professionals will state that they have inspected the property for termites by providing the termite clearance letter. The mortgage or loan companies require these letters.
One must read the letter carefully because the letter might state the prior termite damage left treated or untreated. It helps the buyer or seller of the property to negotiate about the responsibility of repairing the damage.
Termite damage causes detrimental structural falters and expensive repairs. Inspect the termite infestation by hiring professional pest control experts.
When do we need wood destroying organisms report
Termite letters are required when refinancing or when you are buying and selling a home.
Why do we need wood destroying organisms report
The lender will require a termite letter if you are buying or selling a home. The lender wants a termite letter stating that the particular property is free of termites before lending you the bunch of money. The professional termite experts will inspect your property to find termite infestation. If there is any infestation found in the property, the lender will not permit you the loan. Termite letter is a crucial document because there are situations where the homeowners have just walked off the property.
Is the buyer or seller responsible for the wood destroying organisms report
It depends upon different situations and varies from lender to lender and loan requirements. Generally, both buyers and sellers are responsible for the termite letter.
What kind of protection do wood destroying organisms report provide
Termite letters are essentially valid for ninety days. If the termite letter states clear, it means the property is free of termites. If there is any sight or infestation of termites after getting the clear letter, the termite company is responsible for giving free pest control services to the homeowners.
Termite wood destroying organisms report offered by a pest management company provide termite plans that include the cost to repair new damage caused by termites. The termite bonds can save homeowners from having to pay for costly repairs.