I have this 106 year old property with a lot of potentialn in a very decent neighborhood . But its basement is infested with termite. That’s the major issue. How does one get rid of termite? How much does it cost to clean it? If I price it right, I can make $30-$50K rehabbing and flipping it. But how do I deal with termite? In view of termite, how do I price this property to make an offer?
You will need to call a Termite Company and have them inspect the property. Depending on what kind of termites they find they will treat it locally or they will fumigate the entire house. When you sell the house the lender will probably require a clear termite report before funding the loan.
Obviously along with killing the infestation, you will need to repair all of the damage they have caused…if they’ve gotten to the sills and joists, this can be quite an expensive ordeal.
My recommendation: Get a specialist! Get estimates from the exterminator and from a contractor as to cost to eliminate and repair. Use these numbers for negotiations and calculations. Most of the bug guys will provide free estimates for an infestation…you may have to pay for a contractor’s estimate.
Keith