The Collaborative Knowledge Article and Video Project about Buying and Selling a Home. With your writings, edits and uploads we can help people successfully complete what is probably the largest transaction in their lives, and avoid making costly mistakes. Both agents and consumers, we need your help to build this free resource.
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Pests
• Ordered by escrow agent as part of closing process
• Necessary for loan approval in many states
• Conducted by state-licensed official
• Entire structure is examined for signs of termites
• Inspector also looks for signs of mold or decay
• Inspector will then file a written report with escrow agent
• Usually costs $75 to $500
• Buyer normally pays for inspection as part of closing costs
• Seller normally pays to repair any damage found
• Buyers should make sure to have a contingency clause allowing them to back out of purchasing should extensive damage be found
• Homeowner’s insurance does not cover termite damage
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