TERMITE LETTER VS. TERMITE BOND
Spring brings beauty and it also brings swarming season for those pesky termites. You know, those very little guys that can completely threaten your property and structures? We know how devastating it can be to wind up with an infestation. It can cause so much damage and even more headache than most of us have the time for. Imagine being on the market to buy your dream home and you finally find THE ONE, just to have the inspection uncover a termite infestation and bring all of your hopes to a screeching halt. For the buyer, that is a tough blow. For the seller, that is a loss that you don’t as easily recover from. Let’s discuss the different paths that are taken after an inspection and help you understand the difference between a Termite Bond and a Termite Letter.
This is also known as a wood infestation inspection report or a wood destroying organism report. No matter how you refer to it, this is simply a report on the status of termite activity regarding a structure in its entirety, as well as the surrounding area. When you have a pest control specialist perform this inspection, it informs you one of two things:
1. The home is termite free and you receive a Termite Letter that proves this OR…
2. The home is infested and they treat the home for termites, then you can purchase a Termite Bond.
When purchasing a home, depending on where you are applying for the loan and where the home is located, you may be required to have a Termite Letter. Typically, the inspection cost is on the buyer, unless there is an infestation found. If an infestation is found, then the buyer could hold the seller responsible for treatment cost.
This is different from a Termite Letter as it is a contract between you and a pest control company that acts as an insurance policy against termites. The bond’s terms and agreements can be different based on company. In some cases, you can also transfer Termite Bonds from one homeowner to another. Part of the bond will normally include an annual inspection. When a pest control company is creating a Termite Bond, they will look for a few things like a need for recurring termite treatment, evidence of past termite issue, new treatment needed, the types of damage done to the structure, evidence of termites, and methods of further prevention. The cost can be determined by the coverage of the bond. This is just a small overview of what to expect from a Termite Bond.
Regular termite inspection can be one of the most important preventative steps that you can take as a homeowner. This isn’t just important to know if you are on the market to buy or sell. We believe that if you own a home or property, this knowledge can benefit you a great deal. Remember to keep your eyes out for the many signs of infestation and if you have any concern, give us a call and let us help you take back control today.