Home Selling in 30084>Question Details

Ed, Home Owner in 30084

What are the risks involved in not renewing and dropping a termite bond that I've maintained on my new construction home for the last 15 years?

Asked by Ed, 30084 Wed Nov 16, 2011

The main reason that I am considering this move is because of the expense and recent challenges to my finances.

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5
In GA, with termites it's not if, it's when.

If you cancel the bond and termites appear, you're on your own. However, if it's not a repair and retreat bond you're on the hook for repairs anyway; they will only pay for retreating the home.

I know many folks and have had many clients that just do either quarterly or semi annual inspections to try and get problems handled while small.

You'll hear arguments for both positions, many regard bonds as a waste of money.

Hank
1 vote Thank Flag Link Thu Nov 17, 2011
Tucker houses have termite infestations "often". I would estimate 1 in 10 houses I have sold in Tucker have some history of termite infestations. And as others have said, it can be pricey.

There is a difference in the protections that are offered. Be sure and inquire about
1. Re-Treatment Bond
2. Repair Bond

There is a difference and the price will also vary and that may be a factor for your budget if you are running tight.

Also, you will find some companies that use different technologies for termite control. SOme are less expensive than others.

Call me if you have questions.
Sally English
Web Reference: http://englishteam.com
0 votes Thank Flag Link Tue Dec 20, 2011
at a minimum you are probably costing yourself the cost of treating your home to get the process going again. IMHO better to keep the bond.
0 votes Thank Flag Link Thu Nov 17, 2011
Hank's first sentence says it all for GA. Termite damage can sometimes cost thousands of dollars to repair.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortage programs including:
Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® |
HomePath® Renovation | VA | USDA | GA Dream | Jumbo Financing
Web Reference: http://www.rodneymason.com
0 votes Thank Flag Link Thu Nov 17, 2011
Ed, it is always prudent to examine expenses to determine which have value and which are purely entertainment. When the budget gets so tight we begin approaching the situation of choosing "Milk or Bread" there may be a real need for a much broader evaluation.

Please consult a financial planner or even a credit specialist at your local bank to examine other options that may be available for you. Don't allow yourself to become so economicly confined that all your options vanish.

Here in Florida termites are ALWAYS in the environment. Preventive treatment should continue be it DIY or via a service company. If you choose DIY, and you are not well versed on identifying WDOs, you may choose to have periodic inspections for infestation.
0 votes Thank Flag Link Thu Nov 17, 2011
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