Selling a house can be a stressful process, and it can be even more complicated if you’re dealing with termite damage. Before deciding how to sell a house with termites, it’s important to assess the damage, determine your goals, disclose the termite damage to potential buyers, and decide who will pay for the termite removal and/or damage.
To start, get an inspection from a professional to determine the extent of the damage and whether there is any structural damage done to the home. Depending on the severity of the damage, you may need to make repairs before selling the house.
Once you have assessed the damage, determine what your goals are for selling the house. Do you want to sell the house as quickly as possible without making repairs, or do you have the time and money to make repairs and sell the house through a traditional real estate agent? Determining your timeline, budget, and flexibility will help guide you in deciding how to proceed.
If you decide not to repair the termite damage, you can sell the house as is. Selling a house as is means selling the house without making all needed repairs and updates. While selling a house as is can be a faster option and may save you the cost of repairs, houses sold as is usually don’t sell for full market value since buyers will have to make the needed repairs.
When selling a home with current or past termites or termite damage, it’s best to over-disclose. Most buyers inspect a house for sale during the option period, so you might as well be upfront and disclose the termites. Some sellers further protect themselves by offering to pay for an additional termite inspection for buyers to provide both peace of mind and a safeguard.
Laws vary state by state, but most states agree that sellers should disclose any known damages to a house, and this includes both termites and termite damage. Minor damage from the past that you repair doesn’t necessarily need to be disclosed. It’s best to disclose as much as possible (rather than risk not disclosing an important fact), but if the previous damage doesn’t affect the home in its current state or the value of the house, it can be left off the disclosures.
Ultimately, buyers and sellers can negotiate who should pay for termite treatment when a house is being sold. Sellers who want the best price for their house will probably want to make all necessary repairs before selling. This gives sellers more leverage when negotiating a sales price. However, if sellers want buyers to pay for repairs, they need to state that the house is being sold as is in the contract, and make sure to list all damages.
In summary, selling a house with termite damage requires careful consideration and planning. Assess the damage, determine your goals, disclose the termite damage to potential buyers, and decide who will pay for the termite removal and/or damage. With proper preparation, you can successfully sell your house and move on to your next home.
