There are many things that need to be considered when selling a home. Sellers will want to make sure all known defects have been repaired, and they may want to make improvements that are likely to increase the home’s value. They will also want to make sure their home is clean and well-organized to present a positive image to prospective buyers. However, there is one issue that sellers should also be aware of that is often overlooked: pests in the home. Understanding how to determine whether pests are present and what should be done to deal with them can help sellers avoid additional expenses and complications during the home closing process.
Pest Inspection Requirements
While sellers are not required to perform pest inspections prior to listing their home or accepting an offer, lenders will often require buyers to get a pest inspection to identify any concerns about termites, carpenter ants, or other issues that could affect the structural integrity of the home. If these types of pests are discovered after an offer has been accepted, the buyer may ask the seller to pay for treatment and repairs, or the buyer may even back out of the sale. To avoid these types of issues, sellers may want to perform a pest inspection before listing the home, and if pests are discovered, they can determine the best way to address this issue.
Options for Dealing With Pests
If a seller finds that pests are present in their home, or if the home has been damaged by termites or carpenter ants, they can usually take steps to correct this issue, and they will want to disclose the issue to potential buyers. Pest treatments will remove termites or other insects from the home and prevent them from returning, and they will often cost several hundred dollars. If pests have caused damage to the home, repairs will need to be performed, such as replacing damaged wood or installing supports to correct a home’s damaged structure. Depending on the extent of the damage, repairs may cost between several hundred and several thousand dollars.
After performing treatment and repairs, a homeowner will usually want to obtain a warranty, which will offer peace of mind to buyers that any further infestations or damage will be properly addressed. While buyers may be concerned about a known pest infestation, if sellers can demonstrate that the issue has been dealt with properly, this should not affect the purchase price of the home.
If a seller cannot afford to treat or repair a pest infestation, or if they are looking to complete the sale quickly, they may sell the home as-is. They will still want to disclose the infestation and any other known issues, and they will most likely sell the home at a discounted price, which could result in financial losses. While this option is not ideal, it may be necessary for those who need to sell their home through a quick and simple transaction.
Contact Our Lake County Real Estate Attorneys
If pest inspections, treatments, or repairs will play a role during the sale of your home, the attorneys of Newland & Newland, LLP can provide you with legal representation and protect your rights and interests. To get the legal help you need during your home closing, contact our Waukegan real estate lawyers at 847-549-0000 and set up a free consultation today.