Orlando Real Estate, Orlando Buyers Agent, Orlando Homes, Orlando Buyers Broker: Are Termite Bonds worth it?

Are Termite Bonds worth it?

OK, so first lets just say the termites in Florida are common...finding termites does not mean that the home buyer should automatically nix the house because more then likely every house in Florida will get termites sooner or later.

A termite bond is a termite contract on the house between the owner and a termite company.  It is like insurance...if a termite problem is found the company is agreeing to treat the property at no additional charge.  But will they?

Most homeowners get a termite bond after a termite problem is found...so our home buyer clients may purchase a house that already has a bond on it. 

Is having a termite bond worth it ??

Probably, maybe, or maybe not...

          termite damage

 

 

 

 

 

 

 

 

 

In my 22 years in the Real Estate business of representing only home buyers and witnessing  dozens of home inspections that have revealed serious termite issues, I have yet to find a termite company with a bond on the house that REALLY ADMITS TO ANY TERMITE PROPBLEM, at all.  They claim its water damage, old damage, or this or that but I have never had any company say "yes, there is a problem and we will fix it."

I am beginning to think that there is a bonus paid to the termite bond inspector to NOT ADMIT THAT THERE IS A TERMITE PROBLEM...seriously.

For Exclusive Home Buyer Representation with Buyer Agents that care about your termite problems, call Buyers Broker of Florida 407-539-1053

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Representing ONLY the best interest of the Home Buyer...never the seller.

 Eve Alexander Orlando Buyers Agent

 

Comment balloon 5 commentsMike & Eve Alexander • January 31 2014 07:53AM

Comments

Mike,

Thanks for sharing this interesting information with us.

Posted by Trisha Bush-LeFore, Providing Realtor Services in the Walla Walla Area (Preferred Properties Land & Homes) almost 5 years ago

Gosh, this would be frustrating for people thinking they've got something in place, and find out they the company is working on the deny/defend business model.  How much are bonds?  Might be better to just save the money and treat instead.

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) almost 5 years ago

Trisha:  You are welcome

Carla:  Bonds can run from a few hundred dollars to a thousand(s), with annual renewals of a few hundred dollars.

Posted by Mike & Eve Alexander, Exclusively Representing ONLY Orlando Home Buyers (Buyers Broker of Florida ) almost 5 years ago

Mike and Even, thanks fo sharing this.  Of course, we have the Termite Inspection Report, but a termite bond could be a good idea for after the house is purchased.  That is, if the company is reputable and lives up to their end of the agreement.

Posted by Ralph Gorgoglione, Hawaii and California Real Estate (800) 591-6121 (Maui Life Homes / Metro Life Homes) almost 5 years ago

Mike and Eve- that sounds pretty shady!  I don't think these are worth it either- I know many companies in St. Louis charge about $75.00 a year to keep these Bonds in place...  Needless to say it would be rare if you had termites again within 7 years- thus you could pay for the treatment again and come out even!

Posted by Shanna Hall, I love selling houses!!!St. Louis, MO 314-703-1311 (Real Estate Solutions) over 4 years ago

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