Home Real Estate Investing - Original Content

Real Estate Investing - Original Content

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Should You Buy a House With Termite Damage? Pros and Cons...

Termites! The damage is considered minimal if it's primarily on the surface of wood structures. Are you a first-time home buyer? But McCallie says first-time home buyers should think long and hard before purchasing a home with termite damage. Besides fixing the damage, buyers need to ensure that the seller has fixed the parts of the home that led to the infestation. “Overgrown vegetation, firewood, and other wood stored near the foundation can also attract termites and should be addressed.” Can the damage be eradicated? “The majority of termite infestations can be treated by a pest control company, giving you assurance that the infestation will be eliminated and that the home will be protected against future termite infestations," says Charlie Jones, EVP of Operations with Arrow Exterminators in Atlanta, GA. A termite infestation turning up during a home inspection might seem like a bummer, but it can be used as a major bargaining chip to help you knock down the price of the home. Randy Mintz, a real estate agent at R.E. Shilow Realty Investors in Baltimore, says that if a buyer is already under contract, it is in the seller's interest to work out a deal, allowing the buyer to use the discovery of the termite damage as leverage to get a better price.