Don’t Let Termites Eat Away at Your Deal
Many home sellers don’t consider the possibility that they might have termites until they begin preparations to sell their homes. If a home has termite issues, this problem can eat away at their chances of selling the house quickly, and force them to spend money to find, fix, and control a termite infestation.
While a termite issue can be catastrophic if you’re trying to sell your home with a traditional realtor, you can still sell your New Orleans house “as is” for cash, without investing more money in a home you just want to sell.
Signs of Termite Damage
Termites feed on wood, often causing severe damage to the walls, floors, cabinets, floors, siding, and the general structure of a house. Some signs of termite damage include:
- Buckling wood
- Swelling floors
- Visible termite tunnels in walls and furniture
- Droppings that resemble sawdust piles
- Wood that sounds hollow when tapped
Traditional realtors consider it standard practice to ask the seller to pay for a termite inspection and provide a written certification of the results to a buyer. Depending on the length of the home selling process, you may also have to have the home reinspected before closing. None of this will be necessary if you sell your home fast for cash.
Although it may seem that all termites are the same, many different types exist. Formosan termites thrive in a number of the southern states across the U.S., including Louisiana. Formosan termites build mud nests in the ground and live in huge colonies of 350,000 or more.
The typical Formosan termite colony can eat through one foot of a 2’x4’ piece of wood in approximately 25 days, and the colony’s queen can lay up to 1,000 eggs in a single day. Once Formosan termites invade a home, they become difficult to control and can cause major structural damage in as little as six months, requiring owners to pay for extensive and costly home repairs.
Louisiana Disclosure Obligations
Louisiana law requires home sellers to disclose information to potential buyers about the presence of termites and the damage done to a home. Sellers aren’t required to hire an engineer or inspector before selling their home, but under Louisiana law, they must reveal every known defect to avoid liability for any lack of disclosure.
Each state has its own standard sellers disclosure form. In Louisiana, sellers must fill out and sign the Informational Statement for Louisiana Residential Property Disclosure Form. This form will allow them to describe termite activity, treatment measures taken, and termite damage sustained, even if the damage has already been repaired.
The completed and signed disclosure form must be delivered to the potential home buyer before a purchase agreement is signed, and if the seller fails to do so, the buyer could terminate the contract or withdraw his offer within 72 hours, as set forth by Louisiana law.
Contact Big Easy Buyers to sell a home with termite damage as quickly and painlessly as possible by calling (504) 513-7878 or online to learn about our 4-step process and the fast and easy solutions we offer to sellers just like you across the Greater New Orleans Area.