They said "OH, an INFESTATION" about the usual night knats we had outside.

I'm talking about property that had no chance to cash flow at $50k - 1950s built gang infested, falling apart where owner pays all utilities.

All the 'room' in these deals come from the sellers - but now I see one, and I understand.Sure, they could keep it over the winter, heat it, fix the floors, get it inspected and re-do wiring and plumbing as needed, dredge the pond, knock the down the animal infested outbuildings, mow all fall and part of spring, check for snow dams and water damage all winter.

As I suspected, termite infestation is active, and it is all over the house including the foundation.I spoke to my project manager and contractor and we all agreed that we should back out of the deal.Now, I will speak to the wholesaler and ask for a refund of $1000 EMD, claiming that they warranted that there was no major defect in the house and there is a major defect.

Now the debris piles are infested with many, many rats and snakes.

. $200,000 might get you a shack in a crime infested neighborhood or a tiny condo.

Paragraph C-59 of the HAR Standard Purchase Contract (formerly the DROA) is an OPTIONAL, yet detailed, provision concerning Termite Inspection and treatments.Your Lender will likely require inspection and treatment (of any live infestation), and IMHO, rightfully so, given the voracious appetite the little buggahs have around here...

Chelsey, found the sound of it (correct me if I am wrong) you have encountered subterranean termites and the wood underneath must have been touching soil at some point for these termites to infest the wood.Sounds like this can in fact be treated and resolved underneath without doing any work in the interior.

Long story short, it was previously condemned (extended vacancy led to mice/roach infestation, then taken over by township and remodeled up to code.

I have found infestations by observing only a quarter inch mud tube (all that was visible at that house).Now my advice: Make any purchase contingent on a wood destroying insect inspection and hire a professional and accompany him/her during the inspection.