Would you pro’s buy a house at 50% of value if it had termites? What could you to to fix problem and not cost lots of money or would you guys not mess with the problem? Thanks for any help. I have not dealt with termites before. Is there an average cost?
That’s a loaded question as it all depends on the extent of the damage. I just bought a property that had termite damage in the surrounding floor joists and banding. Had to rip up the sub-floor in the entire house for repairs. Total cost for new outer wall banding, new joists and 13 new foundation supports - $6.5K (half of that was material). This was for an 875sf house.
and that’s with our crew doing the work, you could expect to pay much more.
The only way to properly assess this is to shell out the $200-$400 get a certified inspection. Once you have this, get repair estimates for the damage (don’t forget termite treatment, from $400-$800), and negotiate the price accordingly. I’d rather write-off $200-$400 for an inspection than go into a house not knowing the extent of the damage and end up “upside down” profit-wise…
Good luck…
I agree. As long as the damage isn’t too extensive, the cure to a termite problem is to simply write a check and get a discount.