It is estimated that in the United States alone termite damage costs more than 5 billion dollars in annual repairs. This is more than the cost of damages from tornadoes, fires and earthquakes combined!
So, the last thing any Florida homeowner wants to deal with is termites. These pesky home intruders can cause untold damage and seriously limit your ability to sell your property on the open market. They eat away at your investment and cash reserves without regard what they are costing you.
On average the typical homeowner can expect to pay around $3,000 to cover the cost of termite damage involving cosmetic or structural repairs. And this is in addition to any other repairs or maintenance that needs to be carried out before it can be listed for sale.
You can still sell your house, but first you’ll have to deal with and disclose your termite problem. The first step is to select and contact a reputable termite treatment company and have them do a full inspection and assessment of the damage.
Once you’ve determined the extent of the damage, you’ll need to agree on a treatment plan including cost and scheduling. Costs for termite inspections and treatments vary and can be between $1200-$1500 if the whole house needs to be treated or tented.
Next, you’ll need to make arrangements to repair any damage caused by the termites. While some repairs may be minor and inexpensive, if there has been a significant termite infestation your house may be compromised structurally. In which case repairs could range into the thousands.
Assuming you make it through the treatment and repairs, now your house has a clean bill of health. What disclosures if any do you have to make to potential buyers? Florida law requires that sellers disclose if there has been infestation or damage from wood-destroying organisms such as termites or carpenter ants.
Be sure to be upfront and honest with buyers from the beginning regarding the property’s history regarding termites, the treatment and any repairs. Providing documentation of treatment including a warranty can help put a buyer’s mind at ease and hopefully prevent them from getting cold feet.
There is of course an alternative to dealing with termites, tenting and the temptation to feign lack of prior knowledge about their existence. It can save you time, money and the hassle of preparing a property before you can list it for sale.
At Real Offer Now we buy properties with problems that other people don’t want to deal with. Once we’ve had the opportunity to view your house we can make you a fair no-nonsense offer very quickly.
Our sales process is simple and we’re easy to work with. Give us a call today at 727-330-2700.
Sources:
https://www.flapest.com/termite-infestation
https://www.homelight.com/blog/selling-a-house-with-termite-damage/
https://www.bigstatehomebuyers.com/sell-house-fast-termites/
https://www.nolo.com/legal-encyclopedia/florida-home-sellers-disclosures-required-under-state-law.html
https://www.thumbtack.com/p/termite-treatment-cost