So I was very vague about the details and I appreciate the response from both of you !

When the purchase agreement gets drafted, just make sure everything is spelled out.The other one that I have seen is where the CA states that as the buyer, if I bring an agent, I am responsible for their commission.

@Caleb Heimsoth, thank you for your response.

Thanks for your response.

If the termites are in a common area, its likely the HOA will be responsible for remediation.

OBJECTIONS: Buyer may object in writing to defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; disclosed in the Commitment other than items 6A(1) through (8) above; or which prohibit the following use or activity: .

@Gulliver R. thanks for the response. 

I am curious if anyone has been in this situation and knows how to respond and what my responsibilities are.

Any other costs that you are now responsible for as a homeowner take you above what you're currently paying in rent. 

Lenders are responsible for their actions, title company's are responsible for their actions, escrow company's are responsible for their actions and doc prep company's are responsible for their actions.