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who pays for termite inspection in a "short sale" case?

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September 25 2013 - Jacksonville
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Typically the buyer will pay for that... But not in every case, it can be arranged in the contract for the seller to pay for that.
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September 26 2013
All terms are negotiable on a contract.  Short Sales are tricky.
Get all your inspections out of the way before you waste months of downtime waiting for the short sale approval.  Spend the extra to see if you even want to proceed.  If you are only making offers on short sales, it's because you want to save money, so spend a little extra to make sure your investment is not a dog!




Good luck.
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September 26 2013
Yes generally it paid on the buyer side. I have done numerous short sales with WF and other lenders, and I have only experienced once when the sellers home had active termites and being a short sale the seller did not have the money to pay for termite treatment, long story short -  the short sale lender who at the time was Saxon mortgage paid for the treatment for termites- Not saying this will be your experience- just thought this would be helpful for anyone else reading this post.

Best wishes!
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September 26 2013
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Thanks all! I appreciate all your insight. I'm doing FHA, so I'm going to pay for WDO when we get to that stage. We're waiting for the sellers lenders, WF in this case to accept my offer placed 1 week ago today. Keeping my fingers crossed this can be a rather quick and smooth process, but all that I read is conflicting. Has anyone ever done a short sale with WF as the sellers lender? Were the closing times pretty variable? Any insight would be good.
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September 26 2013
If your bank requires the inspection for your financing you pay for it. The exception is if you are applying for a VA loan then the seller pays for it.

Your Realtor should be aware of the termite certification requirements in FL.
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September 26 2013

Yes, WDO is also the termite inspection. WDO stands for wood destroying organisms and covers water damage, bug damage, fungus, etc. Most often paid by the buyer, except in a VA loan. Must be paid by the seller.

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September 25 2013
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Thanks Michael!
I'm the buyer in the "short sale" case.  I've been told I would be responsible for the termite inspection.  What about the WDO inspection, wouldn't that be the same as the termite inspection?  I live in FL and the property is in FL.  thanks...
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September 25 2013
Termite inspection requirements vary by lender... In most cases, a termite is paid by the buyer ...during the home inspection process. IF the buyer is obtaining VA financing. Then the seller must pay for it and the buyer can not. Typical Termite inspection is 75.00 -125.00 depending on the home inspector or pest control company doing the inspection. 

Hope this helps - if you have any other questions - 

feel free to email or call! 

Michael 
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September 25 2013
 
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