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Updated over 8 years ago,
Termite report within 3 days of closing
Please advise: I'm in the process of selling my rental property and is expected to close in 3 days. Today, my realtor notified me that a termite inspection was completed and that she needs permission to authorized the termite control company to perform work. She explained to me that the payments will come out of my closing cost. I, ask as to why am I just getting notified (days before closing) and she stated she just got back from vacation. The buyer, who is a builder, has been trying to get me to provide more money to him at closing and stating he would just do the repairs. I rejected his previous offers and explained I had already went down on the selling price and is unwilling to do more. Now, this termite thing comes up and I feel as if it was a possible strategic plan to give me less time to react. I asked my realtor for a copy of the report but was given a memorandum stating a visible evidence of wood destroying insect was observed. The memorandum states: etching and shelter tubes found on the underside bathroom sink wall areas of the structure". The total price to repair is $763.00. In the memorandum it also states the price will include the wood destroying report. My questions: Is this negotiable or am I obligated to pay the expense. 2. Should I have received a report (with pics/diagram) versus a memorandum? I ask why wasn't this accomplished doing the due dillegence period and was told that it's normal for this report to be delayed until after the appraisal, which I am told just took placed on today as well. I'm new to this and is selling a home in a small town where everyone knows eachother. I am military and is close to retirement so I decided to sell my home to reinvest at a location near my current location. I am dealing with an experience buyer/investor. What are my options if any? Sorry for the long post but I do not know my next move. Thanks in advance!.