What is meant when a listing states the seller will not provide termite or survey?

Asked by J-darthy, Bolingbrook, IL Mon Oct 29, 2012

Does this mean the property has termites? I am a potential first time home buyer looking in Lyons, IL.

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Suzanne Hami…, Agent, Orland Park, IL
Mon Oct 29, 2012
BEST ANSWER
In traditional sales and for certain types of financing, the seller provides the buyer a termite inspection, survey, etc. With bank-owned properties, they don't provide any of the traditional items like surveys, etc. Doesn't mean anything, but you should inspect generally first and see if there are any reasons to inspect for other things like lead based paint, radon, termite, mold, etc. Those are specialty inspections. Your lender may require a termite inspection either way.
1 vote
Scott Godzyk, Agent, Manchester, NH
Mon Oct 29, 2012
It is usually included with bank owned properties. Some states require teh seller furnish a survey plan and or a termite inspection. They are saying they dont have one and will not pay to provide one, if you want it, you have to pay for it in the simplist of terms.
1 vote
Ron Thomas, Agent, Fresno, CA
Mon Oct 29, 2012
A lot of Sellers, (particularly Banks) will List and Sell "As-Is", and they will not pay for Inspections:
The person who pays for the Inspections, OWNS them. If the Seller were to pay for them, the Buyer would not have access to them. And the Inspections are intended to guide and protect the BUYER, not the SELLER.

As the Buyer, you will want to have the results of the Inspections in your Documents.
The PEST Inspection is normally cheap; about $50.
A Survey is not normally needed, and the Title Insurance normally protects you regarding the Title and boundries. Your choice.

Good luck and may God bless
1 vote
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