Feasting on Foreclosures – Time for a Termite Inspection?

The recession has been in full swing for several years now. Unemployment numbers are frightening. Millions of homes are in foreclosure. And the real estate market has been stagnant. But if you think those homes have been vacant, think again. Guess who moved in. Termites!

The risk of a termite infestation rises when a home is vacant and neglected for several years. Most foreclosed homes have not had an annual termite inspection in years. If the homes also have any type of water leak, either from plumbing or from the roof, the risk of termites is greatly increased.

Experts estimate that the amount of damage caused by termites each year exceeds the damage done by all the tornadoes, hurricanes and wind storms put together. The cost of treating and repairing termite damage is estimated between $1.2 and $5 billion dollars each year in the US alone. Annual termite inspections could prevent much of that damage.

Termite researchers tell us that a typical drywood termite colony consists of 5,000 to 10,000 termites. It takes a colony about four years to mature to the point that they begin to swarm. During that time one colony may develop into multiple colonies.

The normal termite inspection / treatment / repair cycle prior to the recession has been postponed indefinitely for foreclosed houses. Experts are concerned the termite colonies in vacant, uninspected homes could be growing larger than normal. In fact observations by termite control professionals in Florida and California are reporting larger and more active swarms.

Unfortunately the banks that sell the foreclosed homes have no knowledge of what shape the homes are in or whether any problems exist. Typically no one at the bank ever sees the house. As a result there is no disclosure report and the home is sold strictly “as-is.” Smart buyers know they have the right of inspection and will have both a termite inspection and a complete home inspection done by a professional.

If problems are revealed by a termite inspection, the bank will not make repairs. Estimates will be needed for both the termite treatment and to repair the damage. Should an offer be made on the property, it should include the costs of treatment and repairs.

What is the bottom line? That foreclosed properties have probably been neglected. In some cases they have been neglected for years. The more neglect the higher the risk of termite infestation. Do not commit to purchasing such a property unless it has been inspected by a professional termite inspector. The cost of such an inspection is minimal. Without a termite inspection, the risk of future damage is quite high.

Protect your property by calling a professional termite inspector. In Tampa call Florida Bug Inspectors for a professional termite inspection. We offer 20 years of expertise in termite prevention and termite control. Safe, effective, experienced. Call today.