Closing in less than a month and we found evidence of termites

[Paul Stern]

Hi BP'ers

I have a contract on a 12-unit apartment. Both buildings show evidence of dead termites. One of the buildings shows evidence of treatment for termites. The other shows evidence of damage to a partition wall in the lower level. It is REO and the price reflects the current 40% vacancy rate. Without tearing into walls I won't be sure of the extent of damage. I did look into the attic and utility spaces on each floor without seeing visible damage.

We are still inside the window to add a clause to the purchase agreement and I am trying to weigh my options.

Now for my question: What would/have you done in a similar situation? I believe my choices are ask for cash at closing or ask for seller to pay for cost of repairs. In either case, I will also ask for $1,500 for termite treatment in both buildings.

Thanks for sharing your thoughts.

[Jean Bolger]

You might think about getting someone from a termite remediation company to have a look. On one hand, if the buildings have already been treated there may be nothing else that needs done -- at least for a while, as I understand it termite treatments last a long time if done right. On the other hand, if the situation hasn't been properly addressed it would be nice to have a professional estimate of the cost to back up your claim for credit at closing