Do I Need to do a Termite Inspection When Buying a House

Описание: FAQs about a Termite Inspection Report when buying a house?

Is a Termite inspection required when buying or refinancing a house? the answer is yes and no, stayed tuned to learn why.

Click on this link to download ebook on the termite overview inspection https://goo.gl/5cXUYl

Watch the entire video to learn more about the termite report when buying or refinancing a property.

A termite inspection is not required but highly recommend when buying a house, you can pay for it or better yet consult with your real estate agent and request the seller to pay for it and fix any section 1 or section 2 items that may be mentioned the completed report. Do speak with your agent about how to present your offer about the termite section in the purchase contract.

This is where the yes and no answer comes in, the termite report is not required on purchase or refinance home loans when utilizing either the FHA, Conventional or USDA home loans, as of now a termite report is required on all VA purchase and refinance home loans in the state of California whether marked on the purchase agreement or not, VA requires the inspection on all VA loans in the state of California with the exception of the VA Streamline refinance, the VA buyer also can not pay for the inspection report, but can pay for any repairs that are notated.

Also, when the appraisal report is completed and the appraiser notates in the body of the report that there may be some termite activity, the underwriter will request a termite report to be completed on the house regardless if the buyer and seller initially waived the report from the start, the underwriter will request an inspection to be completed based on the appraiser’s findings.

The termite report will notate the house is clear or the report will notate section 1 and section 2 items, section 1 items will need to be fixed before the close of escrow and the section 2 items will be determined by the underwriter on whether they need to be fixed or not, but from my years in the industry the underwriter 99% of the time will require section 2 items to also be fixed.

Click here on this card to learn more about section 2 items that are commonly noted in the termite report. If you are looking to buy or refinance a property this small 4 page report will give a guide on what you can address before the inspector visits the property.

A quick recap, termite inspection not required but highly recommended, is required on VA purchase and refinance loans in California and if the appraiser notates it in the appraisal report.

Download this 4 page guide here or from the link below for a more in depth overview on items that can be addressed sooner rather than later that may cause a delay in closing of your loan.

In addition, I encourage you to check out this short video here about what an appraiser is looking for when inspecting the property.

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I Welcome the Opportunity to Assist you with a FHA, VA, USDA, Conventional, Down Payment Assistance or a Jumbo Purchase or Refinance Home Loan.

I look forward in hearing or meeting with you,

Nathan Rufty
Loan Officer
NMLS #292056
[email protected]
www.NathanRufty.com
909-503-5600 - cell
909-230-4395 - work
909-557-2303 - fax
Mountain West Financial
9227 Haven Avenue #110
Rancho Cucamonga, CA 91730