Hi, We have recently seen a home that we are interested in priced at 339k(3 bed-2bath) in Sharon,MA. Only thing is we are worried about is it had

Asked by Vishali, Norwood, MA Thu Sep 17, 2009

termites and the seller did had them treated with some 5 yrs warranty. Is the property valued less bcoz of the termites? Or will we have any problems when we will resell it in future. Is it fine to go ahead with our offer or not. If yes what do you think we should try to offer. Plz advice.

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Christopher…, Agent, Providence, RI
Thu Sep 17, 2009
Hi Vishali,

This fact alone does not make the house worth less or when you go to re-sell it. The only potential drawback(other than unrepaired damage) when you go to resell is that since you will be obligated to disclose this information, just as the current owners are. Just like yourself, another potential buyer may be hesitant to sumbit an offer.

Although termites are without a doubt a major problem, you do have a few options. #1 I would ask if the current owners have a copy of any reports they received with the treatment. If the report mentions any damage be sure to ask what if anything was fixed that had been damaged.

Option #2 is to submit your offer and be sure to have contingencies in place that allow you to back out or renegotiate after you have your inspections. If you are working with a buyer agent this should be pretty common language in your offer form.

And then of course another option is option #3 walk away.

Good Luck and happy hunting,
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Heidi Zizza, Agent, Framingham, MA
Mon Apr 12, 2010
You did not mention what your home inspection turned up in regards to the termites. If they have created a structural problem then that would devalue the home. If they were caught early on and treated and are now gone I would feel less concerned with a 5 year warranty. Keep up with the treatment over time!
Web Reference:  http://www.mdmrealtyinc.com
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