Wednesday, July 29, 2015

Termite Inspection and the Sale of Your Condominium or Townhouse

8/24/14 - When selling your condominium or townhouse a termite inspection may be required. Often times necessary repairs which may appear on a termite report may in fact be the responsibility of the homeowners association, the cost of which you already contribute towards in the payment of your homeowners association dues.

In a condominium or townhome complex there are common areas and often shared walls with other homeowners. Specific to termite repairs, your dues pay towards necessary repairs to common areas and areas which are external to the home (outside walls), while your dues more often than not does not cover termite damage inside your unit. It is important to know that repairs disclosed on a termite report are not limited to termite infestation. You may find yourself needing to make repairs caused by water damage (dry rot), even if this may have been caused by a neighbor.

TIP. Contact your Homeowners Association or Management Company and ask for the name of the termite company the complex has used most recently. Ordering your termite report from this company will help to keep your costs down as they will charge the Homeowners Association for any necessary repairs external to your unit and limit your report to the inside walls of your unit only.

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1 comment:

  1. Thanks for this great post, i find it very interesting and very well thought out and put together. I look forward to reading your work in the future.escrow agent fees