Uneven Floor Caused by Termite Damage

[Trevor Dominique]

Hi everyone!

I am a college student looking to do my first deal. I currently have a duplex that I like (cash flow around 200 a month after deducting 5% vacancy, insurance, taxes, and 15% of monthly estimated rent for CapEx and Repairs). The duplex is in good shape, outside of some slightly uneven floors caused by termite damage in the crawlspace.

Currently, the seller is willing to fix the problem regarding the termite damage and the flooring, so if I offer it would be contingent on that being fully repaired and approving of the repair. 

I am looking for any advice regarding this issue. Are there any specific things I should be sure to state in the contingent offer? Would anyone advise staying away from this deal (Example if fixing the uneven floors could lead to eventual cracks in walls due to shifting of the foundation)?  

Any response or stories from those with similar experiences would be much appreciated! 

[Ned J.]

Obviously if there is termite damage in one location, there is probably other spots too..... make sure you get a very thorough inspection and have a qualified pest inspection too.

I personally prefer to get quotes to fix stuff and then get a credit and have the work done by myself...... I hate having someone oversee and do the work for a property that they will have no vested interest in after the work is done....the tendency is to get the cheapest, quickest cosmetic work done as possible when you let the seller do it..... they don't give a sh$t what happens after they don't own it anymore, they just want to save themselves $$