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Animal House >Termites Most home purchase agreements have clauses that deal with termites. After the agreement is ratified, a termite inspection is arranged. Before the closing can occur, the sellers must be able to produce papers signed by a licensed exterminator stating that the house is free of infestation and that any termite damage has been repaired. Before you sign an agreement to buy or sell a home, you should read the termite clause and be sure that you understand it. Who selects the exterminator and pays for the inspection? If bugs are found, who pays for the treatment? Are the sellers obligated to repair any damage and have they placed a limit of the dollar amount they will spend on those repairs? If treatment is required, the buyers may want a chance to discuss the options with the pest control company, especially if someone in the family is sensitive to the chemicals used to control the termites. Ask about the exterminator's guarantees or service contract options. See All Tips In The "Animal House" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Which hazardous substance is contained in sixty-four million houses and apartments? A  HUD estimates that 64 million homes and apartments built before 1978 contain lead-based paint. See More Real Estate Trivia >