Termites cause more than $30 billion in yearly property and crop damage. If you discover that your home has a termite infestation, you might be concerned if it is possible to sell it.
With termites, you have to be concerned about how to get rid of them and the damage they cause. And depending on how severe the infestation is, the damage can be extensive.
If you want to sell your house, then a termite infestation can be much more challenging to find buyers. Fortunately, you can sell a house with termites, and the process is not impossible.
In this article, we will highlight tips on how to find a buyer for your termite-infested property. Let’s begin!
When it comes to recognizing if you have a termite infestation, there are 3 major ways you can do this. You can search for visual cues such as their bodies, damage to the home, and the shelter tubes the termites use for traveling. Early detection is quite important in treating termites, so if you notice any of these signs, you must act as quickly as possible.
One way to search for physical signs of termites in your home is to watch out for termites. The first step would be to search for sunken areas in the ceiling or walls. This can often mean that termite tunnels are present just under the surface.
Another clear sign of a termite infestation is swarm castles on foam insulation. There are also additional yet obvious issues that come with a colony being established in your home.
For instance, sagging ceilings or walls could mean that your house’s structure has been damaged due to overeating. You can also check signs of an infestation by removing the wallpaper. Generally, you will discover termites or the structural damage they have caused.
These tubes are structures created using mud and measure about ½ inches in diameter. You can find the tubes in ceilings, on walls, and at the base of homes. They enable termites to travel into properties they are unable to tunnel in.
Shelter tubes are an accurate sign that you have termites in your house. However, you can make sure by breaking off a section of the shelter tube to search for any termite activity.
Alternatively, you can wait a couple of days to see if the tube has been repaired. If this is the case, then you need to call the exterminator.
This is usually one of the first signs people notice around their home. You are bound to see swarmers which are the most visible termites. These termites come with wings and are responsible for creating new colonies.
You should be concerned if swarmers are visible near your home’s foundation or outside your window. Unfortunately, swarmers are only visible years after a new colony has been created.
This means their appearance indicates that you have a serious infestation. You should bear in mind that killing the swarmers doesn’t do anything to the already-established colony. You will discover that swarmers are present around wood sources about 20 meters from your home.
The great news is that this issue isn’t as serious as having termites in your foundation. Nevertheless, if your home has a history of termites, you should call pest control or an exterminator.
You must immediately request a professional pest or termite inspection if you discover any of the above signs. While you can see signs of an infestation, a trained eye can tell you much more.
A professional can also inform you where most of the infestation is. You will also discover the extent of the damage caused by the termites. This service is extremely vital if you are interested in selling your house.
Irrespective of your house’s condition, you need to be forthright as possible when selling a house with termites. This reason is why you need a professional’s opinion.
You have three major options for selling a home with termites. You should bear in mind that one option isn’t better than the other two.
The option you select, rather, depends on the particular circumstances surrounding the selling process. You must consider factors such as your budget, the damage’s severity, and how quickly you need to sell. So, bear all of these factors while reading this article section.
This option is great if you don’t mind taking a bit of a discount on the final sale price. Cash buyers are typically a real estate investor and flipper that buys properties as is. They renovate said properties and sell them back to primary residence homeowners for a profit.
When selling to a cash buyer, you must disclose that your home has termite infestation or damage. Full disclosure is one of the most effective ways to sell a house in poor condition.
A real estate investor generally purchases properties regardless of their shape; you can sell house as-is. This can be a great option if your house has suffered extensive termite damage that might cost too much to repair. With this method, you also won’t need to worry about showing the home since any prospective buyers will already be interested.
This can mean a lot less stress and preparation on your path when trying to sell your home. Considering that there are a plethora of benefits associated with this option, it can be a great choice. However, you must ensure you have the right help when selling your house, regardless of its condition.
You might wonder if it is possible to sell a house with termite damage as is on the open market. The answer is, yes, you can. You should note that you must be as open and upfront as possible about the termite problem during the sale process.
In certain states, like Colorado, you are legally mandated to disclose any property damage or infestation for a current termite problem or old termite damage. No matter where you live, this is a great practice to imbibe as it could save you from any potential lawsuits the new homeowners might file against you should they find out. This is why it is always best to be as upfront as possible.
The best practice is to show a prospective buyer where the termite infestation happened and the type of damage it left behind. You will also need to inform them of the termite treatment options and types of repair you have undertaken.
Nevertheless, you shouldn’t be surprised if your house doesn’t get much attention. Extensive insect damage is enough to put off most buyers, but not all.
The good news is that you can still sell your house in its current state. For most people, termite damage isn’t a significant reason to cancel the sale process. However, you should note that it would require a lot of negotiating. Prospective buyers will need to know that the amount required to repair the damage is factored into the final sale price since it will come out of their pockets.
In this instance, you will need to be as flexible as possible and be willing to slightly lower your asking price when selling your home. You could also try offering the prospective homeowners a termite warranty. This is ideal when you are selling a property with termite history.
A termite warranty protects your house against any further termite infestation. Furthermore, you can transfer it to the new homeowners. Having this is a great show of faith to the prospective buyers.
You can choose to repair the termite damage before you sell your home. To start with, you will need to ensure that you have gotten rid of all the termites before trying to repair the home. The last thing you want is to repair your home only to have it destroyed again.
Every year, homeowners spend about $2 billion sorting out termite issues. While this amount might seem large, the truth is a termite treatment doesn’t have to be so expensive. On average, you can expect to pay about $600 to treat a termite infestation. Nevertheless, there is a significant factor to consider—the amount you pay will depend wholly on the size of the infestation and how severe it is.
Additionally, using more advanced methods of extermination means an increase in expenses. The best thing is to always have an estimate before you begin.
You will also have to consider the physical damage that you must repair. As with treatments, the amount you pay depends on if you have minor damages or require extensive repairs. If the termite infestation gets into the floors, walls, and other structural components, you will incur high costs to make the house sellable.
Ultimately, treating a termite infestation and repairing the damage before you sell can be quite an annoying experience since you are putting a lot of money into a structure you have no intention of keeping. However, the great news is that choosing to repair the damage can ensure your house sells much quicker.
In certain instances, it might be possible to get closer to your asking price if you have a termite-free home.
WeBuyHousesInDenver.org is your solution to selling your house if you want to sell house as-is because as Denver’s number 1 cash home buyer, we pay cash for houses and we will buy any house in any condition so if you want a cash offer on your property simply give us a call or fill out an online form and our team of experts will get to work, quick smart, to help you get your house SOLD!
You can sell your house with termites. However, you must let the buyer know the house has termites. Letting buyers know is part of the real estate disclosures.
If you sell a house with termites, you will have to discount the price. You will have to discount the price if the termites are active or not.
An alternative is to hire a pest control professional before you list your house. The pest control service will treat your house and rid your property of termites. Of course, now you may not have termites but you might have termite damage that you need to disclose when you sell your house.
The amount of termite damage that affects the value of your home will depend on how much damage there is. To work out how much the termite damage reduces what your house is worth, you can follow these simple steps:
Whether you walk away from buying a house depends on the damage the termites have caused. It also depends on your willingness to fix the damage after you buy it.
A massive benefit to buying a house with termite damage is that you can negotiate an excellent deal.
For example, if the cost to fix the termite issues is $10,000, you could ask for an additional $10,000 discount. You could even ask for a $50,000 discount. The seller may not accept it, but it’s worth asking.
It comes down to personal preference if you walk away from buying a house with termite damage. I would buy the house with termite damage, but closing would require a significant discount.
This is a simple step-by-step process to negotiate a termite damage discount on a house.
Step 1: Work out how much it will cost to fix the termite damage.
Step 2: Get 3 quotes – all in writing.
Step 3: Find a number that you feel is fair compensation for dealing with the termite damage after you buy the house.
NB: The amount you feel is fair will differ for everyone. My suggestion is whatever number you come up with – DOUBLE IT!
Step 4: Ask the buyer for a discount because of the termite damage.
Step 5: If the seller refuses, remind them that they will have to tell potential buyers of the termite damage. This may help them decide your offer is fair.
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