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.
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.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
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) | HomePathÂ® |
HomePathÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing
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.