I ran across a site a couple of years ago and this is a good time to bring it back up… The EPA maintains a mapping site that allows you to put in a location or address and it will show any known environmental hazards that are in the area.
I ran across a site a couple of years ago and this is a good time to bring it back up… The EPA maintains a mapping site that allows you to put in a location or address and it will show any known environmental hazards that are in the area.
Two years ago we were staring at the beginnings of a financial crisis. Credit was clogged up, home values were sliding and the government was mulling over ways that they could intervene. They wanted to save everyone…
I had opinions then, and I have opinions now.
A few days ago I wrote about how the purchase offering process is having issues… issues that are especially apparent on Bank-Owned Properties (we call them REOs).
Banks are often requiring that ALL offers be accompanied by pre-qualification letters from specific approved lenders (perhaps even from their own loan department). In other cases, the brokers representing the properties are interjecting this “requirement” on their own.
This morning, local (and nationally syndicated) radio talk show host, Clark Howard mentioned
Water is essential for life. Without it, everything dies. But… sometimes it can be a pain in the butt… like when it is in the wrong place in the house… or outside of the house…
I have a buyer that is under contract on a beautiful home… or more accurately, a home that could be beautiful. But it has problems. Water.
The biggest issue is one that people usually don’t think of…
I’m not a “Bug Guy” and I don’t play one on TV. But, as a real estate agent, I get asked about bugs a lot. More specifically, I get asked about termites… ok, actually about termite damage and termite bonds.
We joke (ok, actually the Bug Guys joke) that here in the south there are homes that have been infested and homes that will be infested. There are NO homes that won’t get a termite visit. And I can say from experience that they might be right…
And of course, as soon as my buyer finds a house and we start delving further into it… like the seller’s disclosure, the question comes up about the different bond types that are available. Basically, there are two types…
And there are two major distinctions between them.
Repair bonds are expensive, but cover repairs if termite damage occurs during the course of the coverage.
Retreatment bonds are WAY less expensive, but only cover retreating if termites (or termite damage) is found.
In effect, with a retreatment bond, if your house caves in because of an infestation, they will come by and spray the wreckage left in your yard…
Often, the actual treatments are the same whether you have a repair or retreatment bond. The difference is the exposure the termite control company has. Under a retreatment bond, they might be out a few bucks for chemicals and a little labor for the technician to make the call. Under a repair bond, they could be out tens of thousands of dollars for repairs.
One little tidbit…
Most companies are quite ethical in their operations… But, I have had a couple of clients that had interesting experiences with repair bonds… basically, after a couple of years, the company would “forget” to send out a new invoice. In a couple of cases, when they had a new inspection done, there was termite damage…
So, especially if you have a repair band with your termite coverage, MAKE SURE that you keep it up to date. Don’t rely on the renewal notices…
from GwinnettGarageGuy