“Some damage is so little that homeowners prefer not to restore it once the infestation has been controlled,” says Lisa Harris of RE/MAX Center in suburban Atlanta, who specializes in investment properties, elite houses, and gated communities.
“Termite damage can cost thousands of dollars to remediate in some circumstances, according to Harris. “In rare circumstances, dwellings are demolished due to substantial termite damage.”
Re-treat bonds and re-treat and repair bonds are the two main types of bonds. The first ensures that the pests are treated as soon as they are found. The second adds damage repair.
“In my perspective, treatment-only bonds are not worth having at all,” Carlson argues.
She suggests receiving a few quotations from reputable companies and making sure to ask the following four questions:
How long will the bond be valid before it needs to be renewed? (Carlson claims that a ten-year period is usual.)
Is it a waste of money to buy a termite bond?
Is it worthwhile to get a termite bond that you can transfer to the new owner? Or in the rental home you intend to maintain as an investment?
As New York City agent Totaro puts it, “Before signing a purchase contract, it’s a good idea to have a termite check completed. A termite bond is a selling enhancement on the sell side. It’s like insurance; if you never use it, it’s a waste of money. But how much is mental tranquility worth?”
Given the price range at which bonds are available, having a bond in place can make a property more appealing to the next buyer, whether a homeowner or an investment.
Is a termite contract worthwhile?
A termite warranty may be requested by a buyer if you are selling your house, however warranties are not required in most states. A termite warranty, on the other hand, is well worth the cost of protecting your home. Termite repair costs roughly $3,000 on average. Repairs for termites can cost tens of thousands of dollars, so a warranty is well worth the money.
Is damage covered by termite bonds?
A termite bond serves as a guarantee that a pest control company’s work is effective. It could include future damage repair or retreatment.
A termite bond, like a home or automobile warranty, protects your investment. The bond protects Peachtree Pest Control’s work after we conduct an inspection and apply the necessary treatments. If termites reappear, the insurance will pay the cost of any additional treatment.
What is the definition of a termite damage bond?
If you’ve ever looked into pest control services, you’ve probably come across the term “termite bonds.” What exactly is this bond, and when will you require it? We’ve put up a list of frequently asked questions for you!
A termite bond, similar to a maintenance contract, is a guaranty between you and a termite provider. It usually consists of two major components:
- An agreement to have termite inspections for the duration of the contract (typically a couple of years). These inspections can take place once a year, quarterly, or according to a predetermined schedule.
- If termites are identified, there is an agreement to offer treatment and control. These services are typically covered by a bond, so the homeowner is not responsible for any additional costs. Many bonds provide upfront servicing prior to inspections to address newly detected termite issues.
- Damage repair or retreatment is the sole option. A contract should include whether the service provider will retract the structure and repair any damage caused by a subsequent infestation, or if the service provider will just retreat the structure without making damage repairs. Because not all properties qualify for a Repair Bond, it’s a good idea to find out if yours does and what the expenses are.
A bond is not the same as a “termite letter,” which states whether or not a house is free of termites after an examination.
A termite bond provides you with piece of mind. If you have a termite infestation, you may be concerned that termites will return following treatment. A bond, on the other hand, ensures that the pest control firm will keep an eye on your property and ensure that a new infestation does not emerge.
Termite bonds are also beneficial when purchasing or selling a home. If a home inspector discovers a termite problem or a high probability of termites, purchasers will typically agree to buy the house only if the owners first acquire a termite bond. Similarly, lenders may refuse to issue a mortgage for at-risk properties without a bond. Pest inspections are required for some loans, such as FHA and VA mortgages, therefore termite bonds can help homebuyers qualify for those lower-cost loans as well.
A bond can only be issued by a licensed pest control company. Some home inspectors have relationships with qualified pest treatment firms and can refer homeowners or homebuyers to one.
We don’t recommend waiting until your home is inspected to see if you need a termite bond. The finding may cause a delay in the seller’s intentions at a critical point in the sale. Instead, it’s a smart idea to arrange for a bond if you’re thinking about selling your house or if you recently discovered a termite infestation and are concerned about it returning.
The price of a termite bond is decided by the length of the bond and the services included, as well as other criteria.
For the initial service, a typical price range for a residential residence is $700 to $1,000, however rates might be lower for simpler arrangements. The warranty coverage, which includes an annual inspection as needed, normally costs $300-$400 each year.
There are two types of termite bonds: transferable and nontransferable. When a home is sold, a transferable bond can be transferred to a new homeowner. As you may expect, it’s critical to secure a transferrable bond as soon as feasible.
Is it worthwhile to invest in termite bait stations?
Termite bait has both advantages and disadvantages. Baiting is a more time-consuming and lengthy treatment method, but it is quite effective at eradicating termite colonies. Bait stations are set in the ground around the residence to catch termites in the act of foraging, usually before they reach the house. The bait station, as discussed in a previous piece, is made of plastic, a sort of wood that termites love to eat, and if termites are discovered, a bait is added that will gradually destroy the colony. The reason for using a slow-acting bait is that faster-acting non-repellent liquids and stomach baits would eventually drive termites away from that region. They may not be able to smell the material that is killing them, but they are aware that there are a lot of dead termites in the vicinity, so they avoid it. This doesn’t imply the termites have fled or that the colony has been eradicated; in fact, you’ll often observe them try to find a new way into the house or other structure in order to continue feeding. Most termite baits take months to operate because of the slower acting Chitin Synthesis Inhibitors employed in them “Much more of the colony, or hopefully the entire colony, will be infected. Because it has the potential to eliminate a higher percentage of colonies, and because it has a higher rate of colony eradication, “Termite baits are a popular choice among more proactive house owners who want to “catch” termites before they attack your home.
What is the cost of a termite inspection?
Termites are dangerous, and their presence can catch a homeowner off guard. However, many homeowners are unaware that termite inspections should be performed on a regular basis to guarantee that their houses are safe. In termite-heavy, high-risk areas (such as warm or humid climates), homeowners should schedule termite inspections every year, and every other year in low-risk areas. Termite inspection fees can range from $50 to $280, according to HomeAdvisor, with the national average being $100.
Termite protection and prevention can save thousands of dollars in fumigation charges, and there are cost-effective or even free preventive measures that homeowners can take to avoid termite infestation and reduce termite treatment costs. Termites are sneaky, and a colony of them may quickly wreak havoc on a home’s structure before it’s even seen. A termite infestation can cost thousands of dollars in aesthetic and structural damage if left untreated. This is why termite inspection fees are well worth the money in order to discover and eliminate these damaging bugs.
When selling a house, a termite examination will add $75 to $125 to the cost of a regular home inspection. If you additionally require a formal letter or report from the inspection for insurance or a sale, expect to pay an extra $100 to $200. If a termite infestation is not addressed, the value of a home with termite damage might be reduced by 25%, or up to $50,000.
Here, we’ll look at how termite inspection costs are calculated, as well as other aspects to consider, why homeowners should obtain a termite inspection, and what questions to ask a termite inspector.
What should the price of a termite warranty be?
“Termites” is one of the most dreaded words a homeowner may hear. Termites are responsible for an estimated $5 billion in losses in the United States each year. They cause harm from the inside out, and they are frequently undetected until major damage has already occurred. Termite symptoms are generally difficult to spot until colonies have established themselves. Even with this knowledge, many individuals still wonder if termite protection is worth the money.
Termite damage to a home’s structure costs an average of $3,000. This cost varies based on the severity and location of the damage. Cosmetic damage, in addition to structural damage, can necessitate repairs, which can cost up to $2,000 to address things like discolored sheetrock, buckled floors, and peeling paint. This figure fluctuates based on the materials that were damaged and the materials that were used to repair or replace them.
Before any repairs can be made, termites must be eliminated. Termite treatment expenses include not just the termiticides or baits used, but also the work, training, and service hours provided by the termite exterminator. Termite control costs $4 to $7 per linear square foot of your property on average. This cost varies depending on the sort of guarantee offered, your home’s location, and the type of treatment necessary.
Many individuals are unaware that most homeowner’s insurance policies do not cover termite damage. Many homeowners are also unaware that during the sale of a home, the seller is nearly always responsible for termite damage. Because this varies by state, it’s usually a good idea to double-check. Prior to the selling of the home, a termite examination is frequently included.
A termite warranty provides homeowners with piece of mind by ensuring that the pest management company will inspect your house on a regular basis to ensure that new infestations are detected before they spread.
The warranty coverage normally costs $300-$400 per year, which includes the cost of an annual termite check.
What is included in each company’s termite warranty varies, but it usually includes an agreement for annual (or more frequent) termite inspections during the warranty’s lifetime, an agreement to provide treatment if termites are discovered (often at no additional cost to the homeowner), and in some cases, an agreement to repair damages. However, not all homes are eligible for these repair bonds, so always double-check with your termite control company.
How often should you treat your house for termites?
It depends on the termite treatment method you use. You should re-treat liquid termite treatments every five years, and termite bait stations should be monitored every few months.
Will termites come back after treatment?
Termites may reappear after treatments have been completed. Companies like Orkin and Terminix, on the other hand, pledge to re-treat for free if you have a termite plan with them.
What’s the average cost of termite treatment?
The cost of termite treatment is determined on the severity of the infestation, the size of your home, the business you select, and other factors. All firms require an in-home examination in order to provide you with an estimate.
How long do termites take to cause damage?
Termites are projected to wreak billions of dollars in damage in the United States each year. They eat wood, but they can also eat books, insulation, and even swimming pool liners and filters. They can wreak havoc on trees and bushes, and they’re especially fond of sickly plants. Termites can attack structures at any time. This is especially problematic when purchasing or selling a home. Termite inspections and reports are frequently needed as a condition of a home’s sale.
Types Of Termites
Termites come in a variety of kinds, but the most prevalent are drywood and subterranean termites. In the southeastern United States, Formosan termites are the most common subterranean termite species. Drywood termites do not create the same level of destruction as subterranean termites. Drywood termites cause hundreds of millions of dollars in damage and repairs each year, whereas subterranean termites cause billions of dollars in damage. This is partly due to the fact that drywood termites have smaller colonies and require longer to wreak damage. Drywood termites are also easier to notice than subterranean termites because they kick their dried feces out onto surfaces while they consume, making them more conspicuous. Subterranean termites keep their droppings hidden inside their tunnels so they don’t attract attention. Multiple colonies of subterranean termites can form near a home and feed on the same structure at the same time, exponentially increasing the number of termites infesting the structure.
Termite Timeline
Termites devour wood and wood products, which causes homes to be destroyed. In their intestines, they have enzymes, bacteria, and protozoa that help them breakdown cellulose (organic fibrous material in wood and plants). Subterranean termite colonies of this size can consume up to a pound of wood every day. This injury, on the other hand, frequently stays unnoticed for years. Termites harm the structural integrity of your home because they steadily eat away at the wood inside your home, frequently without your notice. Termite colonies can take anywhere from three to five years to completely grow. While there is no way to calculate an infestation’s exact age, there are ways to make reliable guesses about how old it is. Termite damage can take anywhere from 3 to 8 years to appear, depending on the size of the colony.
Signs Of Damage
When indicators of termite damage appear, it’s usually after a long period of infestation and substantial damage. Termites can leave a number of telltale indications in your home, including:
- Where their bodies have come into contact with earth, subterranean termites might leave dirt on the wall.
Termites can do significant damage to the structural integrity of your home, including the collapse of ceilings and flooring. Furniture, carpeting, and flooring can all be ruined by termites.
Damage Costs
Termite damage data is not monitored or tracked by any central entity. Although many pest control companies disclose their data to state agricultural and academic specialists, there is no national tracking system in existence. As a result, the majority of damage cost estimates are dependent on guesswork. According to estimates,
- Residents in the United States spend $5 billion per year on termite control and damage restoration.
- Every year, at least $1 billion is spent on termite prevention and repairs in Formosa, however other experts estimate it to be closer to $2 billion (according to the USDA)
Many homeowners wonder whether termite damage is covered by their homeowner’s insurance policy. Unfortunately, the majority of the time, the answer is no. Termite damage and removal are normally not covered by homeowner’s insurance because they can usually be avoided with regular home upkeep. However, you should always verify with your insurance carrier to determine what is and is not covered by your policy.
What is the average cost of repairing termite damage since most insurance policies do not cover it? The cost of repairs varies widely from case to case and is determined by a number of criteria, including how much wood the termites have eaten, how long the colony has been in the house, and where the damage was done inside the house. Repairs are frequently more expensive than the cost of the initial structure, and might run into the hundreds of dollars. Termite damage might be so severe that the home must be completely demolished in rare situations. In addition to structural repairs, cosmetic fixes are also required. Termites can discolor and damage sheetrock, flooring, and paint, all of which will need to be repaired or replaced. Individual costs will vary, but some repairs will be more expensive than others, such as replacing hardwood floors versus floor tiles. Exterminator charges must also be considered because termites must be controlled and removed before any repairs can be completed. The cost of termite control will vary depending on your termite control specialist, but it will often include the cost of chemicals and baits, labor, and service. It will also depend on your location and the type of termite treatment you select.
What is the meaning of a termite bond letter?
A termite bond is a contract between you and a termite management business that functions as a termite insurance policy. The terms can vary depending on the situation, but they typically include reimbursement for direct termite damage or coverage for future treatments.
When trying to buy or rent a house in a termite-infested area, it’s critical to have a fresh termite bond or letter on hand, or to have access to one. The seller’s disclosure should include any recent letters. A transferable bond is one that allows a termite bond to be transferred to a new homeowner.
Because a termite bond isn’t always necessary when selling a home, it’s up to you to decide whether or not you want the inspection and bond executed. In most cases, the bond will include an annual inspection to keep termite infestations under control.
- Termites can cause damage to your home in a variety of ways (the bond may not cover all types)
They’ll also talk over if you need a termite warranty for the house and how often you should have inspections in the future. The cost of a termite bond is determined by the level of coverage you choose. The cost of the bond does not include inspections for bed bugs, ants, beetles, or other pests that could result in unexpected future charges. It also excludes damage that contributes to termite infestations, such as water damage that permits termites to enter. It only covers the termite’s actual killing and control, as well as damage caused directly by the termites.