"Termite Inspection Letter"
goes into detail about the inspector's findings
made during the physical inspection of the property.
This inspection and resulting report are not
limited to only termite damage. The inspector
checks for active termite and past termite damage,
powder post beetles, rotting wood or damaged
wood in the house and crawl space. In the event
active wood infestation is found and treated
by the inspector, the purchasers are furnished
a one-year warranty against future infestation.
This warranty is paid by the seller at closing.
If your new home does not have termites or other
wood destroying infestation, you will only receive
a letter at closing stating your new home has
been inspected and there are no visible signs
of active infestation. There is no warranty
from the inspector for future damage.
It is important to note: You will probably be
offered an annual "inspection" from
the termite company. Be careful to make
sure that annual spraying to avoid future damage
is included in your contract with them. Many
termite companies only come out to inspect for
infestation and do not spray unless
they find active infestation. This is a reactive
rather than proactive approach to limiting damage.
In my opinion this is not the way to go. Richmond,
Virginia, is one of the highest termite infested
areas in the United States due to our mild weather
The "Well Inspection Letter"
(if applicable) assures the purchaser
that the well is free of fecal coliform bacteria.
The well letter does not assure the purchaser
that the water is potable. In addition, the
inspection letter does not identify the chemical
content or the presence or absence of any odor.
Make sure before you sign the contract that
you are satisfied with the quality of the water!
The "Septic Inspection Letter"
(if applicable) reports the findings of a thorough
septic system test. It's advisable to have your
septic tank pumped at least once every five
years. It is important to look for dampness
in the drainfield to be assured that the effluence
is properly being absorbed by the soil. Counties
require that new home construction sites have
a second drainfield location identified as a
backup in the event the primary field fails.
"Property Owner's Association Dues
Information" (if applicable) is
signed by you to assure you have been notified
of how much your association dues are and how
they are to be paid. Property Owners Associations
do have the right to put a lien against your
property for the non-payment of dues.
If the seller has agreed to have work done on
your new home before closing, it is important
during your pre-closing inspection to make sure
all work has been completed in a workman like
manner, though, not necessarily to your satisfaction.
Your attorney will give you copies of the "Repair
Invoices" from the contractor(s)
that did the work to show you that the work
has been completed and paid for by the seller.
Your attorney will make sure these bills are
paid because a licensed contractor can put a
"mechanic's lien" against your property
for material and/or labor furnished to the job
if the bill was not paid.
Your "American Home Shield Warranty"
or similar one-year warranty on resale homes
will be reviewed and put into effect. It is
important you know what the deductible is and
whom to contact in order not to void your warranty
in the event you have a problem with the mechanical
systems of your new home.
Some lenders have a form that recites the borrowers
made no misrepresentations as to the completion
of their loan application. In addition it states
that the purchasers will occupy the property
as their principle residence and that their
income and employment are virtually the same
as at loan application completion.
Some lenders will give you a copy of your appraisal
at closing. If they don't give it to you at
closing, be sure to write them after you close
in order to get a copy for your records.
Don't forget to put your keys and garage door
openers in your package before you leave!