As a general rule, I always recommend that a home buyer in North Carolina have a licensed pest inspector perform an inspection when purchasing a home. The pest inspector will issue the, "Official North Carolina Wood-Destroying Insect Information Report" to document his/her findings. We commonly refer to this document as the Termite Report or the WDIR.
There are more than just termites that we look for in this report. Here are the 3 main areas that I focus on as a lender.
1. Live bugs. Termites are just one of a few "wood destroying" bugs that can damage your home's structure. If there are live bugs they need to be treated.
2. Location of found bugs or previous infestation of bugs. The fine print of the WDIR states, "if there is evidence of a previous or an active infestation of subterranean termites and/or other wood-destroying insects in the wooden members it must be assumed that there is some damage to the wooden members caused by this infestation, no matter how slight. If this is the case, the structural integrity of this property should be evaluated by a qualified building expert." In other words, if the bugs are eating or have eaten some wood, the wood should be repaired. We will ask that a licensed general contractor or structural engineer inspect the integrity of the damaged areas and repair any damage.
3. Moisture. Bugs love wet wood. If the moisture readings are 20% or higher we will require that the conditions causing the excessive moisture be corrected. This may be as simple as re-routing gutter drains or installing a vapor barrier. Every situation is different but it is important to correct the situation and monitor moisture in the future.
Although a pest inspection should be important to any home buyer, it is only required to be given to your lender if it is a requirement of your loan (FHA & VA), an appraiser recommends a pest inspection, or if the cost of the inspection is included in your settlement charges at closing.
Please contact me if I can be of any assistance with your home buying and financing needs. Thank you.
